Your Directors have pleasure in presenting the 111th Annual Report for the year ended 31st March 2024.

1. FINANCIAL RESULTS (Rs. in lakhs)

The financial statements for the year ended 31st

March, 2024 have been prepared in accordance with the Indian Accounting Standards (IND AS) notified under Section 133 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014.

2. Operations

During the financial year 2023-24, your Company produced 28,16,540 kg of made tea as against 27,28,148 kg of made tea produced in 2022-23.

Your company's tea realized average price of Rs.120.32 Per kg as against Rs.132.89 per Kg realized in last year. During the year, the Company has made a total sales realisation of Rs. 3,808 lakhs compared to Rs.4,415 lakhs in last year.

During the year under review, the Wind Mills generated 19,93,320 Units as against 21,64,752 Units during the same period in last year.

During the year under review, the Solar Power generated 43,08,107 units as against 40,07,376 units during the same period in last year.

3. Material Changes and Commitments, if any, affecting the financial position of the Company

There are no material changes and commitments, affecting the financial position of the Company that have occurred between the end of the financial year 2023-24 and the date of the report.

4. Dividend

The Board of Directors is pleased to recommend a dividend of Re 1/- per share (last year Re.0.50/- per share) for the year ended 31st March 2024 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

Pursuant to the Finance Act, 2020 read with the Income-tax Act, 1961, the dividend paid or distributed by a company shall be taxable in the hands of the shareholders w.e.f. April 1, 2020. Accordingly, in compliance with the said provisions, the Company shall make the payment of dividend after necessary deduction of tax at source at the prescribed rates. For the prescribed rates for various categories, the shareholders are requested to refer to the Finance Act, 2020 and amendments thereof.

5. Transfer to Reserves

No amount has been transferred to the Reserves during the financial year 2023-24.

6. Change in the nature of business

During the year under review, there were no changes in the nature of the business of the Company as well as its subsidiaries.

7. Share Capital

During the year under review, the Authorized Share Capital of the Company stands at Rs. 7,50,00,000/- (Rupees Seven Crores Fifty Lacs Only) divided into 75,00,000 (Seventy-Five Lacs) Equity Shares of Rs. 10/- each and Issued, Subscribed and Paid-up Share Capital of the Company stands at Rs. 3,09,58,790/- (Rupees Three Crore Nine Lacs Fifty Eight Thousand Seven Hundred Ninety Only) divided into 30,95,879 (Thirty Lacs Ninety Five Thousand Eight Hundred Seventy Nine) Equity Shares of Rs. 10/-each. During the year under review, your company has neither issued and allotted any fresh equity shares (including ESOP) nor has granted any stock options and sweat equity shares. None of the Directors of the Company hold any instruments convertible into equity shares of the Company.

8. Transfer of Shares and unclaimed dividend to Investor Education and Protection Fund

Pursuant to the applicable provisions of the Companies Act, 2013, read with the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (‘the Rules') as amended from time to time, all unpaid or unclaimed dividends are required to be transferred by the Company to the IEPF established by the Government of India after the completion of seven years. Further according to the Rules, the shares on which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account of the IEPF Authority. Accordingly, the Company has transferred the unclaimed and unpaid dividends of Rs. 1,42,834/- for the financial year 2015-16 to IEPF Authority during the financial year 2023-24. Further 7351 Corresponding shares were transferred to IEPF Authority as per the requirement of the IEPF rules.

The members who have a claim on above dividends and shares may claim the same by making an online application to the IEPF Authority in the prescribed Form No. IEPF-5 by following the refund procedure as detailed on the website of IEPF Authority http://www.iepf.gov.in/IEPF/refund. html. No claims shall lie against the Company in respect of the dividend / shares so transferred.

List of shareholders whose dividend remained unclaimed as on 31st March, 2024 is uploaded on the website of the Company at www.periatea. com.

9. Annual Return

Pursuant to Section 92(3) read with Section 134(3) of the Act, the draft Annual Return for the year ended 31st March, 2024 is available on the website of the Company and may be accessed at the link: https:// www.periatea.com/investors

The final Annual Return shall be uploaded at the same link after the same is filed with the Registrar of Companies/Ministry of Corporate Affairs (MCA).

10. Number of Meetings of the Board of Directors

The Board meets at regular intervals to discuss and decide on Company's business Policy and strategy apart from other broad business. However, in case of a special and urgent business need, the Board's approval is taken by passing resolutions through circulation, as permitted by law, which are confirmed in the subsequent Board Meeting.

The notice of Board Meeting is given well in advance to all the Directors. The Agenda of the Board/ Committee Meetings is circulated at least

7 (seven) days prior to the date of the meeting as per Section 173(3) of the Companies Act, 2013 read with Secretarial Standard on meeting of the Board of Directors (SS-1). The Agenda for the Board and Committee Meetings includes detailed notes on the items to be discussed at the meeting to enable the Directors to take an informed decision.

The Board met six (6) times during the financial year

2023-24. The detailed information chart showing the date of the meetings of the Board and its various Committees as well as details of the Directors who attended the meeting are given in the Corporate Governance Report forming part of this Annual Report.

11. Committees of the Board

During the financial year ended 31 March 2024, the

Company has 4 (four) committees as mentioned below:

1. Audit Committee

2. Stakeholders Relationship Committee

3. Nomination and Remuneration Committee

4. Corporate Social Responsibility Committee

Details of the Committees along with their charters, composition and meetings held during the year are given in the Corporate Governance Report forming a part of this Annual Report.

12. Public Deposits

During the financial year 2023-24, the Company has not accepted any deposits from the public covered under section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

13. Listing

Your Company's shares are continued to be listed on National Stock Exchange of India Limited. The Company has paid the Annual Listing Fees to the Stock Exchange for FY 2024-25.

14. Directors' Responsibility Statement

In terms of provision of Section 134(3)(c) and 134(5) of the Companies Act, 2013, your Director's confirm that: a. in the preparation of the annual accounts for the financial year ended 31st March 2024, the applicable accounting standards had been followed along with proper explanation relating to material departures, if any; b. the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit of the company for that period;

c. the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; d. the directors had prepared the annual accounts on a going concern basis;

e. the directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating f. the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

15. Fraud Reporting

There have been no instances of frauds identified or reported by the statutory auditors during the course of their audit pursuant to sub-section 12 of section 143 of the Companies Act, 2013 (amended from time to time) to the Central Government.

16. Declaration by Independent Directors

The Company has received declarations from all the

Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015. During the financial year 2023-

24, all Independent Directors of the Company have registered themselves with the Independent Directors Databank.

In the opinion of the Board, all the Independent

Directors fulfils the conditions specified in the Act with regard to integrity, expertise, and experience

(including the of the Independent Director and are independent of the management.

17. Company's Policy relating to Directors appointment, payment of remuneration and other matters provided under Section 178 (3) of the Companies Act, 2013

The Board on the recommendation of the Nomination and Remuneration Committee framed a policy for the selection, appointment, fixing and revising remuneration of Directors, Key Managerial Personnel, Senior Management Personnel and employees of the Company. The Nomination and Remuneration Policy of the Company is annexed herewith as Annexure A and can also be accessed on the Company's website at the link https://www.periatea.com/investors.

18. Particulars of loans, guarantees or investments made under Section 186 of the Companies Act, 2013

The loan, guarantee given and investment made by the Company during the financial year ended

March 31, 2024 are within the limits prescribed under Section 186 of the Companies Act, 2013. Further, the details of loan, guarantee given and investment made pursuant to Section 186 of the Companies Act, 2013 have been given in the note no 31 to the financial statements.

19. Particulars of contracts or arrangements with related parties

During the year under review, all transactions with related parties during the financial year 2023-24 were in the ordinary course of business and on arm's length basis and were reviewed by the Audit

Committee of the Board. Further, during the financial year, the Company has not entered into any contract/ arrangement/ transaction with related parties which could be considered material in accordance with the Company's policy of Materiality of Related Party Transactions. Hence, no transaction is reported in Form No. AOC-2 in terms of Section 134 of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014.

The policy on related party transactions as approved by the Board of Directors has been uploaded on the Company's website at its weblink https://www. periatea.com/wp-content/uploads/2024/05/Policy%20 on%20Related%20Party%20Transaction.pdf. Further, as required by Schedule V of SEBI (LODR) Regulations, 2015, disclosures of transactions with any person or entity belonging to the promoter/ promoter group which hold(s) 10% or more shareholding in the Company in the format prescribed in the relevant Accounting Standards, has been made in the relevant Notes to the Financial Statements.

20. Conservation of energy, technology absorption, foreign exchange earnings and outgo

The information on conservation of energy, technology absorption, foreign exchange earnings and outgo stipulated under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 is annexed herewith as Annexure B.

21. Risk Management

The Company has in place mechanism to identify, assess, monitor and mitigate various risks that may impact key business objectives of the Company and to ensure that all the current and future material risk exposures of the Company are identified, assessed, quantified, appropriately mitigated and managed, to establish a framework for the company's risk management process and to ensure company wise implementation to ensure systematic and uniform assessment of risks and to enable compliance with appropriate regulations, wherever applicable, through the adoption of best practices and to assure business growth with financial stability.

Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuous basis. These are discussed at the meetings of the Audit Committee and the Board of Directors of the Company. The Company's internal control systems are commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested and certified by Statutory and Internal Auditors. Significant audit observations and follow up actions thereon are reported to the Audit Committee.

22. Board Evaluation

Pursuant to the provisions of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Guidance Notes issued by SEBI in this regard, the Nomination and Remuneration Committee has formulated criteria for evaluation of the performance of the Board of Directors, its committees, Independent Directors, Non-Independent Directors, Chairman, CEO and the Managing Directors. Based on those criteria, performance evaluation has been done. A structured questionnaire was prepared and circulated after taking into consideration inputs received from the Directors, covering various aspects of the Board's functioning such as adequacy of the composition of the Board and its Committees, specific Board culture, execution and performance of duties, obligations, ethics and compliances, financial reporting process and monitoring activities. Performance parameters for the Board as a collective body included parameters like qualification and diversity of Board members, method and criteria for selection of independent directors to ensure independence, availability, appropriateness, clarity of understanding on risk scenarios faced by the

Company, existence, sufficiency and appropriateness of policy on dealing with potential conflicts of interest, involvement of Board members in long –term strategic planning etc. Based on these criteria, the performance of the Board, various Board Committees, Chairman, CEO, Managing Director and Individual Directors (including Independent Directors) was found to be satisfactory.

Independent Directors have reviewed the performance of Board, Non- Independent Director and Chairman in their separately held meeting without the participation of other Non-Independent Directors and members of management. Based on their review, the Independent Directors, hold a unanimous opinion that the

Non-Independent Directors, including the Chairman to the Board are experts with sufficient knowledge in their respective field of activities.

23. Directors and Key Managerial Personnel a. Details of Directors retiring by rotation

Mrs. Alka Devi Bangur (DIN:00012894), Director of the Company retires by rotation at the ensuing

Annual General Meeting and being eligible offers herself for re-appointment. Brief profile of Mrs.

Alka Devi Bangur, who is to be re-appointed is furnished in the notice of the ensuing Annual

General Meeting disqualified as per Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial Standards 2. The Board of Directors of your Company recommends the re-appointment of Mrs. Alka Devi Bangur at the ensuing Annual General Meeting.

M r. H a r i s c h a n d r a M a n e k l a l P a r e k h (DIN 00026530), Mr. Narasimhan Swaminathan (DIN: 02743671) and Mr. Pudugramam Ramachandran Ramakrishnan (DIN: 02715749) were re-appointed as an Independent Non- Executive Director of the Company by the Members at the 106th Annual General Meeting of the Company held on 9th September, 2019 for second term of five consecutive years with effect from 22nd September, 2019. Their tenure as Independent Non- Executive Directors is expiring on 21st September, 2024. To ensure the proper constitution of the Board, the company require to induct new Independent Non-Executive Directors on the Board of the Company to ensure the Compliance of provision of the Companies Act, 2013 and SEBI (LODR) Regulation, 2015. b. Appointment / Reappointment of Directors / Key Managerial Personnel effect

During the year under review, the Board of Directors has re-appointed Mr. Ashok Kumar Bhargava (DIN: 00640248) as a Non-Executive Independent Director of the Company for a second term of 5 consecutive years w.e.f.

8th May, 2023 and the same was approved by the requisite majority of the shareholders on 21st May, 2023 by way of Postal Ballot being the last date fixed for evoting by the Company.

During the year under review, Mrs. Alka Devi Bangur (DIN: 00012894) and Mr. Shreeyash Bangur (DIN: 00012825) have been re-appointed as Managing Director and Deputy Managing Director of the Company for a period of 3 (three) years with from 17th September, 2023 and 5th November, 2023 respectively which was approved by the shareholders of the Company at the 110th Annual General Meeting of the Company held on 26th September, 2023.

There is no change in Key Managerial Personnel (KMP) of the Company during the Year under review.

All the Directors have confirmed that they are not from being appointed as Directors in terms of Section 164(2) of the Companies Act, 2013.

Apart from the aforesaid appointment/ reappointment, there were no other changes in Board and KMPs.

24. Reports on the performance and financial position of each of the subsidiaries, Associates and Joint Venture Companies included in the Consolidated Financial Statements

The Company had two subsidiaries namely PKT Plantations Ltd and Shivphal Vinimay Private Limited. During the year under review, the Company has disposed entire holding in PKT Plantations Limited and Shivphal Vinimay Private Limited to Maharaja Shree Umaid Mills Limited., a group company. None of the Subsidiaries were material subsidiary of the Company.

Consequently, upon completion of the said sale/ transfer of both the subsidiaries i.e. M/s PKT Plantations Limited and M/s Shivphal Vinimay Private Limited ceased to be wholly owned subsidiary of The Peria Karamalai Tea and Produce Co Ltd with from 15th November, 2023.

Policy for determining ‘Material' Subsidiaries

The Company has adopted a Policy on Material Subsidiaries as approved by the Board. It has been posted on the website of the Company and can be accessed at the link: https://www.periatea.com/ investors.

There has been no change in the number of subsidiaries or in the nature of business of the subsidiaries, during the year under review till 14th November, 2023.

In accordance with Section 129(3) of the Companies Act, 2013, the Company has prepared a consolidated financial statements of the Company consolidating the financial statements of its subsidiary companies, which is forming part of the Annual Report. A statement containing salient features of the financial statements of the subsidiary companies in Form AOC-1 is also attached to the Consolidated Financial Statement and forms part of the Annual Report. Further, the contribution of these subsidiaries to the overall performance of the Company is provided under the Notes to the Consolidated Financial Statements.

Further, pursuant to the provisions of Section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited accounts in respect of subsidiaries are available on the website of the Company. Shareholders interested in obtaining a copy of the audited annual accounts of the subsidiary company or companies may write to the Company

Secretary at the Company's registered office.

During the Financial Year 2023-24, the Company has no associate or Joint Venture Company.

25. Details of significant by the Regulators or Courts or Tribunals

During the year under review, no significant and material order passed by the Regulators or Courts or Tribunals impacting the going concern status and Company's operation in future.

26. Adequacy of Internal Financial Controls with reference to the financial statements

The Company is having adequate internal financial control which is commensurate with the nature of its size and business. The Directors have laid down Internal Financial Controls to be followed by the Company and that such Internal Financial Controls are adequate and were operating effectively. The

Internal Financial Control systems of the Company are monitored and evaluated and reviewed by the Audit Committee.

Your Board confirms the following:

1. Systems have been laid to ensure that all transactions are executed in accordance with management's general and specific authorization.

There are well laid manuals for such general or specific authorization.

2. Systems and procedures exist to ensure that all transactions are recorded as is necessary to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements, and to maintain accountability for aspects and the timely preparation of reliable financial information.

3. Access to assets is permitted only in accordance with management's general and specific authorization. No assets of the Company are allowed to be used for personal purposes, except in accordance with terms of employment or except as permitted.

4. The existing assets of the Company are verified/ checked at reasonable intervals and appropriate differences, action is taken with respect to any if any.

5. Proper systems are in place for prevention and detection of frauds and errors and for ensuring adherence to the Company's policies.

Based on the above, your Board is of the view that adequate internal financial controls exist in the Company. Further, the certificate from Chief Executive Officer and Chief Financial Officer, in terms of Regulation 17(8) of the SEBI (Listing Obligations & Disclosure Requirements), Regulations

2015, provided in this Annual Report, also certifies the adequacy of our Internal Control systems and procedures.

27. Statutory Auditors

M/s Jayaraman & Krishna., Chartered Accountants (FRN: 011185S) have been appointed as the Statutory Auditors of the Company for a period of 5

(five) years from the conclusion of the 108th Annual

General Meeting till the conclusion of the 113th Annual General Meeting to be held in the calendar year 2026.

28. Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company has appointed M/s Vinod Kothari

& Company, Practising Company Secretaries to undertake the Secretarial Audit of the Company for the Financial Year 2023-24. The report of the Secretarial Auditors for the said year is annexed herewith as Annexure C which is self-explanatory.

The said report does not contain any qualifications, reservations or adverse remark. The said report does not contain any qualifications, reservations or adverse remark.

29. Internal Auditors

Pursuant to the provision of section 138 of the Companies Act, 2013 and the Companies (Accounts) Rules, 2014 M/s Kumbhat & Co, Chartered Accountant, Chennai has conducted Internal Audit of the Company for the Financial Year 2023-24. Further, the Audit Committee considers and reviews the Internal Audit Report submitted by the Internal Auditor on a quarterly basis.

30. Auditors' Report

The notes on financial statements referred to in the

Auditors Report are self- explanatory and do not call for any further comments. The Auditors Report does not contain any qualifications, reservations or adverse remarks.

31. Industrial Relations

The relation between management and labour was cordial during the year.

32. Particulars of employees

Disclosure pursuant to Section 197 (12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is marked as Annexure D which is annexed hereto and forms a part of the Board Report.

Further, in accordance with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, there are no employees in the Company drawing remuneration in excess of the limits set out in the said rules.

33. Disclosures under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company has in place a policy on Sexual Harassment of Women at workplace in line with the requirements of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaint Committee has been set up to redress complaints received. All employees (permanent, contractual, temporary, trainees) are covered under this policy. The Committee has not received any compliant from any employee during the financial year 2023-24.

34. Whistle Blower Policy/Vigil Mechanism

The Board of Directors of the Company has established a Vigil Mechanism for Internal and External Stakeholders, including individual employees, directors and their representative bodies and adopted the Whistle Blower Policy in terms of Section 177 of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to report concerns about unethical behavior, wrongful conduct and violation of Company's Code of conduct or ethics policy. The details of which have been given in the Corporate Governance Report annexed to the Annual Report and also posted on the Company's website and can be accessed at the link https://www.periatea.com/ investors.

35. Corporate Social Responsibility (CSR)

The Board has constituted a Corporate Social Responsibility Committee in accordance with section 135 of the Companies Act, 2013. The Annual Report on CSR activities including the details about the development of CSR Policy and initiatives taken by the Company on Corporate Social Responsibility during the year, as required by the Companies (Corporate Social Responsibility Policy) Rules, 2014 is given in the Annexure E to this report.

The Corporate Social Responsibility Policy has been posted on the website of the Company and can be accessed at the link https://www.periatea.com/ investors.

The Company, along with other Group Companies, has set up a Registered Public Charitable Trust named as LNB Group Foundation as implementing agency of the Company to carry out CSR activities fall within the purview of Schedule VII of the Act read with the Companies (Corporate Social Responsibility Policy) Rules 2014.

36. Management Discussion and Analysis Report

The Management's Discussion and Analysis Report for the year under review, as stipulated under Regulation 34(2)(e) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of the Annual Report.

37. Corporate Governance

Your Company is committed to observe Good Corporate Governance practices. The report on Corporate Governance for the financial year ended March 31, 2024, as per Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report and annexed to this Report. The requisite certificate received from Statutory Auditors M/s. Jayaraman & Krishna,

Chartered Accountants confirming compliance with the conditions of corporate governance is attached to this Annual Report.

38. Certificate

The CEO/CFO certification pursuant to Regulation 17(8) read with Schedule II of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the year under review forms part of this Annual Report.

39. Annual Secretarial Audit under Listing Regulations

Pursuant to Regulation 24A of the Listing Regulations read with relevant circulars issued by SEBI and / or Stock Exchanges, an Annual Secretarial Compliance Report confirming compliance of all applicable SEBI Regulations, Circulars and Guidelines by the Company was issued by appointed M/s Vinod Kothari & Company, Practicing Company Secretaries and was filed with the Stock Exchange.

40. Code for prevention of Insider Trading

The Company has adopted a Code of Conduct for prevention of Insider Trading and Code of Practices and Procedures for fair disclosure of Unpublished Price Sensitive Information' (UPSI) as prescribed in SEBI (Prohibition of Insider Trading) Regulations, 2015.

The Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information is available on the website of the Company can be accessed at the link https://www.periatea.com/ investors.

41. Secretarial Standard

The Company has complied with all applicable Secretarial Standards during the year under review.

42. Maintenance of Cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013

The Company has maintained cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013.

43. Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year alongwith their status as at the end of the financial year.

During the year under review, there were no application has been made and no proceedings is pending under Insolvency and Bankruptcy Code, 2016 (31 of 2016).

44. Details of difference between amount of the valuation done at the time of one time settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof.

During the year under review, there was no one time settlement with Banks or Financial Institutions therefore, there is no instance of difference between amount of valuation done at the time of one time settlement and the valuation done while taking loan form the bank.

45. Acknowledgements

The Board express their gratitude to the shareholders, customers, vendors, financial institutions and banks for the support extended by them. The Board also appreciation of the hard work and commitment of the employees of the Company at all levels during the year.