Dear Shareholders,

Your Directors are pleased to present the 29^th Annual Report along with the Audited Financial Statements of your

The summarised financial highlight is depicted below:

(` in crore)

1. There are no material changes and commitments affecting the financial position of your Company which have occurred between the end of the financial year and the date of this report.

2. There has been no change in nature of business of your Company.

3. Previous year figures have been restated considering that the amalgamation of Adani Power (Jharkhand) Limited has taken place from first day of the earliest period presented i.e. April 1 , 2023 as required under Appendix C of Ind As 103.

Your Company sold 95.9 billion units of electricity during FY 2024-25 as against 79.4 billion units in FY 2023-24 from all the plants with Plant Load Factor (PLF) increasing from 64.7% in the previous year to 70.5% in FY 2024-25.

The consolidated total income of your Company for FY 2024-25 stood at ` 58,905.83 crore as against ` 60,281.48 crore for FY 2023-24 showing a decrease of 2.3%. The consolidated revenue for FY 2024-25 comprised revenue from operations of ` 56,203.09 crore and other income of ` 2,702.74 crore as compared to ` 50,351.25 crore and ` 9,930.23 crore respectively for FY 2023-24. Revenue from operations for FY 2024-25 registered a growth of 11.6% over the previous year due to higher sales volume, capacity expansion partly offset by lower tariff realisation.

Other income for FY 2024-25 registered a decrease of 72.8% over the previous year due to recognition of higher one-time carrying cost and late payment surcharge, on account of regulatory orders during FY 2023-24.

Consolidated Operating and Administrative Expenses during FY 2024-25 were ` 34,897.65 crore, which have increased by 8.5% from ` 32,170.55 crore in FY 2023-24. The increase is mainly due to higher fuel cost owing to higher volume offset by reduction in coal rate and also due to higher other expenses on account of acquisitions. The percentage of Operating and Administrative Expenses to Total Income has increased to 59.2% in FY 2024-25 from 53.4% in FY 2023-24. The increase is mainly due to higher one time income forming part of total income during previous year.

Consolidated Depreciation and Amortization Expenses during FY 2024-25 were ` 4,308.88 crore, which have increased by 9.6% from ` 3,931.33 crore in FY 2023-24 primarily due to acquisitions.

Consolidated Finance Costs during FY 2024-25 were ` 3,339.79 crore, which have decreased by 1.4% from ` 3,388.09 crore in FY 2023- 24, mainly due to reduction in rate on account of improved credit rating which is partially offset by increase due to acquisitions.

Consolidated Tax Expense of ` 3,609.90 crore during FY 2024-25 as compared to Tax credit of

` 37.28 crore during FY 2023-24 which was mainly due to deferred tax liability on account of utilisation of unabsorbed depreciation.

Consolidated Total Comprehensive Income for FY 2024-25 was lower by 38.7% at ` 12,746.92 crore as compared to Total Comprehensive Income of

` 20,801.30 crore in FY 2023-24.

For detailed insights into our operational performance, please refer to the operational performance section within this Integrated Report on page 90.

Total Income for FY 2024-25 increased by 11.0% to ` 4,219.97 crore, compared to ` 3,803.62 crore in FY 2023-24, driven by higher volumes from new capacity tie-ups under a long term PPA and increased merchant sales. EBITDA for the year grew by 26.8% to ` 1,893.43 crore, compared to ` 1,493.27 crore in the previous year, supported by higher volumes and lower fuel costs. Depreciation for FY 2024-25 was ` 270.25 crore, as against ` 98.39 crore in FY 2023-24, on account of higher depreciation on reversal of impairment provisions. Finance Costs increased to ` 440.70 crore from ` 373.91 crore in FY 2023-24, due to one time impact of other finance costs on costs being charged to P&L.

Profit Before

` 1,182.48 crore in FY 2024-25, as against ` 1,020.97 crore in the previous year. Exceptional Items were NIL for FY 2024-25, in comparison to, Exceptional items of

` 2,950.00 crore during FY 2023-24, towards a reversal of impairment provisions. Profit After Tax for FY 2024-25 was ` 374.19 crore, compared to ` 3,056.52 crore in FY 2023-24. Total Comprehensive Income for the year was ` 373.35 crore, ` 3,056.57 crore in the previous year.

MPGL, reported Total income of ` 1,587.34 crore for FY 2024-25 and EBITDA of ` (127.18) crore. Depreciation charge and Finance costs for FY 2024-25 were ` 211.70 crore and ` 148.65 crore, respectively. MPGL, reported Loss before Tax of ` 487.53 crore for FY 2024-25. The Total Comprehensive Loss for FY 2024-25 was ` 371.30 crore.

September 12, 2024, to status quo as was operating on September 6, 2024 (on September 6, 2024, Consortium was operating the power plant). Pursuant to SC order, the appeals were listed before the NCLAT on November 18, 2024 and various other dates, wherein the applications filed by the Consortium, of challenging the maintainability of the appeals, were heard and reserved for Orders.

During FY 2024-25, your Company filed

April 25, 2025.

The amalgamation is intended to achieve size, scalability, integration, and greater financial strength and flexibility, thereby building a more resilient and robust organisation that can address dynamic business situations and volatility in various economic factors in a focused manner in order to achieve long-term financial returns.

SMRPL was the successful allocatee of the Dhirauli Coal Mine under a Coal Block Development and Production Agreement. The Dhirauli Coal Mine has a peak rated capacity to produce 6.5 million tonnes per annum of coal and is located in close proximity to the thermal power plant of MEL. The purpose of the amalgamation is to enhance fuel security and cost efficiency of MEL.

India ratings and CARE Ratings have assigned AA-; Stable rating to Long Term Bank Loan facilities of recently acquired Korba Power Limited (KPL).

IndiaratingshaveassignedAA-;StableratingtoLongTerm Bank Loan facilities of Mahan Energen Limited (MEL).

Your Company scored 68 in the S&P Global Corporate Sustainability Assessment (CSA) for FY 2023-24, surpassing the sectoral average of 42 and its previous score of 48. Your Company ranks in the top 80 percentile globally among electric utilities, excelling in areas like Human Rights, Transparency and Reporting, Water, and Waste Management (ranking in the top 100 percentile) and performed strongly in Energy, Occupational Health and Safety, and Community Relationship (90 percentile or above category).

Your Company has incorporated a wholly owned subsidiary, "Adani Power Middle East Ltd," in Abu Dhabi, United Arab Emirates on August 26, 2024. The subsidiary will focus on investments in power, infrastructure, and related fields.

Your Company has established a wholly owned subsidiary, "Adani Power Global Pte. Ltd." in Singapore on June 14, 2024. The subsidiary intends to invest in power, infrastructure, and related fields.

Your Company entered into a Power Supply Agreement (PSA) for supply of 1,496 MW (net) for a period of 25 years with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) on October 20, 2024, to be supplied from a new 1600 MW Ultra-supercritical thermal power project. The thermal capacity has been awarded on Design, Build, Finance, Own and Operate (DBFOO) basis with sourcing of fuel from coal linkages allocated under Para B (iv) of the SHAKTI Policy. The power supply under the proposed PSA will commence three and a half years after the appointed date as defined thereunder in the case of Unit 1 (800 MW) and four years in the case of Unit 2 (800 MW).

Mahan Energen Limited (MEL), a subsidiary of your Company, issued "Class B" equity shares to M/s Reliance Industries Limited (RIL) on July 9, 2024, granting RIL a 26% ownership stake in one Unit of 600 MW capacity in MEL's 1200 MW power plant at Singrauli (Madhya Pradesh) and signed a 20-year long-term Power Purchase Agreement (PPA) for 500 MW under the Captive User policy as defined under the Electricity Rules, 2005

This arrangement ensures a reliable power supply for RIL and enhances MEL's long-term revenue visibility.

Thus, a dividend aggregating to ` 4,15,862.07 to the said preference shareholders has been paid during the year.

As permitted under the Act, the Board does not propose to transfer any amount to General Reserves. The closing balance of the retained earnings of your Company for FY 2024-25, after all appropriations and adjustments, was ` 28,758.98 crore.

During the year under review, there was no change in the authorised and paid-up share capital of the Company. The equity authorised share capital of your Company is

` 24,800 crore and paid-up equity share capital of your Company is ` 3,856.94 crore.

In the meeting of the Board held on October 28, 2024 the proposal to raise funds by issuing Non-Convertible Debentures (NCDs) up to ` 2,500 crore through private placement and ` 2,500 crore through public issue was approved. Later, the management proposed to raise . funds up to ` 11,000 crore, inclusive of the previously approved amount, through public issue and/or private placement in one or more tranches at the Board Meeting held on January 29, 2025..

Your Company has a secure long-term revenue stream from its power purchase agreements, fuel supply agreements, and a profitable merchant power portfolio, making it suitable for long-term debt instruments. Your

Company anticipates significant demand for its NCDs following the receipt of an AA/Stable rating from credit rating agencies. Therefore, your Company enhanced and combined the previously approved fundraising limit to

` 11,000 crore through public issue or private placement.

The proceeds from the NCDs shall be utilised for funding capital expenditure, prepayment/repayment of debt, part-refinancing existing debt, general corporate purposes, or any other valid purpose as deemed fit by the

Management Committee of the Board.

The issuance of NCDs will provide several benefits, including diversification of funding sources, optimising capital structure and average maturity of debt, and enhancing liquidity and financial flexibility.

The proposed issuance of NCDs is a strategic initiative to enhance your Company's financial stability, support its growth objectives, and diversify its funding sources.

Your Company has never accepted any deposit(s) including during the year under review. Thus, there were no outstanding deposits within the meaning of Section 73 to 76 of the Act read with rules made thereunder at the end of Financial Year 2024-25 or the previous financial years.

The provisions of Section 186 of the Act, with respect to a loan, guarantee, investment or security are not applicable to your Company, as your Company is engaged in providing infrastructural facilities which is exempted under Section 186 of the Act. The particulars of loans, guarantee and investments made during the year under review, are given in the notes forming part of the financial statements.

A list of subsidiaries / associates / joint ventures of your Company is provided as part of the notes to the consolidated financial statements.

Adani Power (Jharkhand) Limited ceased to be subsidiary of your Company upon Scheme of Amalgamation made effective from April 4, 2025.

Pursuant to the provisions of Section 129, 134 and 136 of the Act read with rules made thereunder and Regulation 33 of the SEBI Listing Regulations, your Company has prepared consolidated financial statements of the Company and a separate statement containing the salient features of financial statement of subsidiaries, joint ventures and associates in Form AOC-1, which forms part of this Integrated Annual Report.

The Annual Financial Statements and related detailed information of the subsidiary companies shall be made available to the shareholders of the holding and subsidiary companies seeking such information on all working days during business hours. The financial statements of the subsidiary companies shall also be kept for inspection by any shareholders during working hours at your

Section 136 of the Act, the audited financial statements, including consolidated financial statements and related information of your Company and audited accounts of each of its subsidiaries, are available on website of your Company (www.adanipower.com).

Pursuant to Section 134 of the Act read with rules made thereunder, the details of developments at the level of subsidiaries and joint ventures of your Company are covered in the Management Discussion and Analysis Report, which forms part of this Integrated Annual Report.

In terms of the requirement of the SEBI Listing

Further the Board appointed Mr. Dilip Kumar Jha as

KMP of the Company the Chief Financial Officer w.e.f. April 1, 2024.

During the year under review, Mrs. Sangeeta Singh (DIN: 10593952) has been appointed as an Independent Director of your Company with effect from May 1, 2024.

In accordance with the provisions of Section 152 of the Act, read with rules made thereunder and Articles of Association of your Company, Mr. Rajesh S. Adani (DIN: 00006322) is liable to retire by rotation at the ensuing AGM and being eligible, offers himself for re-appointment. The Board recommends the re-appointment of Mr. Rajesh S. Adani as Director for your approval. Brief details, as required under Secretarial Standard-2 and Regulation 36 of SEBI Listing Regulations, are provided in the Notice of ensuing AGM.

Your Company has received declarations from all the

Independent Directors of your Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1) (b) of the SEBI Listing Regulations and there has been no change in the circumstances which may affect their status as an Independent Director. The Independent Directors have also given declaration of compliance with Rules 6(1) and 6(2) of the Companies (Appointment and

Qualification of Directors) Rules, 2014, with respect their name appearing in the data bank of Independent Directors maintained by the Indian Institute of Corporate Affairs.

Mr. S. B. Khyalia, Chief Executive Officer

Mr. Dilip Kumar Jha, Chief Financial Officer*

Mr. Deepak S Pandya, Company Secretary

* appointed w.e.f. April 1, 2024

As required under the Act and the SEBI Listing Regulations, your Company has constituted various statutory committees. Additionally, the Board has formed other governance committees and sub-committees to review specific business operations and governance matters including any specific items that the Board may decide to delegate. The Board, with primary motive of administrative convenience, also constituted Management Committee to review and operate day to day operations of your Company. As on March 31, 2025, the Board has constituted the following committees / sub-committees.

Audit Committee

Nomination and Remuneration Committee Stakeholders Relationship Committee Risk Management Committee Corporate Social Responsibility Committee

Corporate Responsibility Committee

InformationTechnologyandDataSecurityCommittee Legal, Regulatory and Tax Risk Committee Reputation Risk Committee Mergers and Acquisitions Risk Committee Commodity Price Risk Committee Details of all the committees such as terms of reference, composition and meetings held during the year under review are disclosed in the Corporate Governance Report, which forms part of this Integrated Annual Report.

The Board met 6 (six) times during the year under review. The intervening gap between the meetings did not exceed 120 days, as prescribed under the Act and SEBI Listing Regulations. The details of board meetings and the attendance of the Directors are provided in the Corporate Governance Report, which forms part of this Integrated Annual Report.

The Independent Directors met on March 27, 2025, without the attendance of Non-Independent Directors and members of the management. The Independent

DirectorsreviewedtheperformanceofNon-Independent Directors, the Committees and the Board as a whole along with the performance of the Chairman of your Company, taking into account the views of Executive Directors and Non-Executive Directors and assessed the quality, quantity and timeliness of flow of information between the management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

Remuneration Policy is directed towards rewarding performance based on review of achievements. The Remuneration Policy is in consonance with existing industry practice.

We affirm that the remuneration paid to the Directors is as per the terms laid out in the Remuneration Policy. Your Company had taken shareholders approval for payment of commission to its Independent Directors at the AGM of the Company held on June 25, 2024. For the FY 2024-25, Board of Directors of your Company has approved payment of commission of ` 30.00 lakhs to each of the Independent Directors.

Your Company has an effective mechanism for succession planning which focuses on orderly succession of Directors, Key Management Personnel and Senior Management. The NRC implements this mechanism in concurrence with the Board.

Pursuant to Section 134(5) of the Act, the Board, to the best of their knowledge and based on the information and explanations received from the management of your

Company, confirm that: a. inthepreparationoftheAnnualFinancialStatements, the applicable accounting standards have been followed and there are no material departures; b. they have selected such accounting policies and applied them consistently and judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of your Company at the end of the financial year and of the profit of your Company for that period; c. proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of your Company and for preventing and detecting fraud and other irregularities; d. the Annual Financial Statements have been prepared on a going concern basis; e. they have laid down internal financial controls to be followed by your Company and that such internal financial controls are adequate and operating effectively; f. proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

The details in respect of internal financial controls and their adequacy are included in the Management Discussion and Analysis Report, which forms part of this Integrated Annual Report.

Management Discussion and Analysis Report, which forms part of this Integrated Annual Report.

Your Company has deployed a Statutory Compliance Mechanism providing guidance on broad categories of applicable laws and process for monitoring compliance. In furtherance to this, your Company has instituted an online compliance management system within the organisation to monitor compliances and provide update to the senior management on a periodic basis. The Audit

Committee and the Board periodically monitor the status of compliances with applicable laws.

The details of the CSR Committee are provided in the Corporate Governance Report, which forms part of this Integrated Annual Report. The CSR policy is available on the website of your Company and link for the same is given in Annexure-A of this report.

The Annual Report on CSR activities is annexed and forms part of this report as Annexure-E.

The Chief Financial Officer of your Company has certified that CSR spends of your Company for FY 2024-25 have been utilised for the purpose and in the manner approved by the Board of your Company.

The Management Discussion and Analysis Report for the year under review, as stipulated under the SEBI Listing Regulations, is presented in a section forming part of this Integrated Annual Report.

Your Company is committed to maintain high standards of corporate governance practices. The Corporate Governance Report, as stipulated by SEBI Listing Regulations, forms part of this Integrated Annual Report along with the required certificate from a Practicing

In accordance with the SEBI Listing Regulations, the BRSR for FY 2024-25, describing the initiatives taken by your Company from an environment, social and governance (ESG) perspective, forms part of this Integrated Annual Report. In addition to BRSR, the Integrated Annual Report of your Company provides an insight on various ESG initiatives adopted by your Company.

Pursuant to Section 134(3)(a) of the Act, the draft annual return as on March 31, 2025 prepared in accordance with Section 92(3) of the Act is made available on the website of your Company and can be accessed using the https:// www.adanipower.com/investors/investor-downloads.

The Audit Committee comprises solely of the Independent Directors of your Company. The members of the Audit Committee abstained from discussing and voting in the transaction(s) in which they were interested.

During the year, your Company has not entered into any contracts, arrangements or transactions that fall under the scope of Section 188 (1) of the Act. Accordingly, the prescribed Form AOC-2 is not applicable to your Company for FY 2024-25 and hence does not form part of this report.

During the year, the material related party transactions pursuant to the provisions of Regulation 23 of the SEBI Listing Regulations had been duly approved by the shareholders of your Company in the Annual General Meeting held on June 25, 2024 and through postal ballot on November 25, 2024.

Pursuant to the provisions of Regulation 23 of the

SEBI Listing Regulations, your Company has filed half yearly reports to the stock exchanges, for the related party transactions.

M/s. SRBC & Co. LLP, Chartered Accountants (ICAI Firm Registration Number: 324982E/E300003) were appointed as the Statutory Auditors of your Company at the 26^th AGM held on July 27, 2022, for the second term of five years till the conclusion of 31^st Annual

General Meeting (AGM) of your Company to be held in the year 2027.

The Statutory Auditors have confirmed that they are not disqualified to continue as Statutory Auditors and are eligible officeas Statutory hold Auditors of your Company.

Representative of M/s. SRBC & Co. LLP, Statutory Auditors of your Company attended the previous AGM of your Company held on June 25, 2024.

Report are self-explanatory and do not call for any further comments.

Pursuant to the provisions of Section 204 of the Act, read with the rules made thereunder, the Board re-appointed Chirag Shah and Associates, Practicing Company Secretary, to undertake the Secretarial Audit of your Company for FY 2024-25. The Secretarial Audit Report for the year under review is provided as Annexure-B of this report. The Secretarial Audit Report does not contain any qualification, reservation, adverse remark or disclaimer.

The observation of Secretarial Auditor is self-explanatory in nature and does not require any comments from the Board.

Further, pursuant to amended Regulation 24A of SEBI Listing Regulations, and subject to your approval being sought at the ensuing AGM scheduled on June 25, 2025, M/s Chirag Shah and Associates, Practicing Company

Secretary (C. P. No. 3498; Peer reviewed certificate no.

6543/2025) has been appointed as a Secretarial Auditor to undertake the Secretarial Audit of your Company for the first term of five consecutive years FY 2029-30. M/s. Chirag Shah & Associates have confirmed that it is not disqualified to be appointed as a Secretarial Auditor and is eligible to hold office as of your Company.

During the year under review, your Company has complied with all the applicable provisions of Secretarial Standard-1 and Secretarial Standard-2 issued by the Institute of Company Secretaries of India.

Your Company has appointed M/s Kiran J. Mehta & Co., Cost Accountants (Firm Reg. No. 000025) to conduct audit of cost records of your Company for the year ended

March 31, 2026. The Cost Audit Report for the year

2023-24 was filed before the due date with the Ministry of Corporate Affairs. Your Company has maintained the cost accounts and records in accordance with Section 148 of the Act and Rules framed thereunder Secretarial Standards.

During the year under review, the Statutory Auditors and Secretarial Auditor of your Company have not reported any instances of fraud committed in your Company by

Your Company had 4,210 (standalone basis) employees as of March 31, 2025.

The statement containing particulars of employees, as required under Section 197 of the Act, read with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this report. However, in terms of Section 136 of the Act, the Integrated Annual Report is being sent to the shareholders and others entitled thereto, excluding the said annexure, which is available for inspection by the shareholders at the Registered Officeof your

Company during business hours on working days of your Company. If any shareholder is interested in obtaining a copy thereof, such shareholder may write to the Company Secretary in this regard.

As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules made thereunder, your Company has laid down a Prevention of Sexual Harassment (POSH) Policy and has constituted Internal Complaints Committee (ICC) at all relevant locations across India to consider and resolve the complaints related to sexual harassment. The ICC includes external members with relevant experience. The ICC presided by senior women, conduct the investigations and make decisions at the respective locations. Your Company has zero tolerance on sexual harassment at the workplace.

The ICC also work extensively on creating awareness on relevance of sexual harassment issues, including while working remotely. The employees are required to undergo a mandatory training / certification on themselves and strengthen their awareness. During the year under review, your Company has not received any complaint pertaining to sexual harassment.

All new employees go through a detailed personal orientation on POSH Policy adopted by your Company.

Vigil Mechanism oremployees, to the Audit Committee,

Your Company has adopted a whistle blower policy and has established the necessary vigil mechanism for

Directors and employees in confirmation with Section 177 of the Act and Regulation 22 of SEBI Listing Regulations, to facilitate reporting of the genuine concerns about unethical or improper activity, without fear of retaliation. The vigil mechanism of your Company provides for adequate safeguards against victimisation of whistle blowers who avail of the mechanism and also provides for direct access to the Chairperson of the Audit Committee in exceptional cases.

No person has been denied access to the Chairperson of the Audit Committee. The said policy is uploaded on the website of your Company and link for the same is given in Annexure-A of this report.

During the year under review, your Company has received one compliant under the vigil mechanism. One of the vendors of the Company has sent a complaint against one senior employee of the Company. The complaint, after scrutiny by the internal audit team, has been found frivolous, requiring no action to be taken against the employee.

Maturity Assessment, reaffirming the robustness of

205

As part of its continuous improvement journey, your Company launched INNOPOWER, which over 22 months has seen more than 1,500 challenges registered by employees across the organisation. This initiative has led to the initiation of around 400 improvement projects, with over 250 projects successfully completed, engaging approximately 1,100 employees. INNOPOWER has not only fostered a culture of innovation and improvement but also significantly enhanced employee engagement.

Kawai Plant received an appreciation certificate from the National Safety council in the safety award scheme of 2024.

Raipur Plant received ''Gold Category Award" in 9^th Apex India Occupational Health and Safety Awards 2024 in Thermal Power Sector category.

Raipur Plant received 1^st Runner up position in CII SHE Excellence Awards 2024-25 for Large Scale Manufacturing category.

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Act read with

Rule 8 of the Companies (Accounts) Rules, 2014, as amended, is provided as Annexure-D of this report.

The employees undergo mandatory training / certification on this Code to sensitize themselves and strengthen their awareness.

Your Company has taken appropriate insurance for all assets against foreseeable perils.

Neither the Non-Executive Chairman nor the Managing Director and CEO of your Company received any remuneration or commission from any of the subsidiary of your Company.

Your Directors state that during the year under review:

1. Your Company did not issue any equity shares with differential rights as to dividend, voting or otherwise.

2. Your Company did not issue shares (Including sweat equity shares) to employees of your Company under any scheme.

4. No application was made and no proceeding was pending under the Insolvency and Bankruptcy Code, 2016.

5. No one time settlement of loan was obtained from the Banks or Financial Institutions.

Your Directors are highly grateful for all the guidance, support and assistance received from the Government of India, Governments of various states in India, concerned Government Departments, Financial Institutions and Banks. Your Directors thank all the esteemed shareholders, customers, suppliers and business associates for their faith, trust and confidence reposed in your Company.

Your Directors wish to place on record their sincere appreciation for the dedicated efforts and consistent contribution made by the employees at all levels, to ensure that your Company continues to grow and excel.