Your Directors have pleasure in presenting the 112th
Annual Report for the year ended 31st March 2025.

1. FINANCIAL RESULTS

The brief summary of the financial performance of the
Company for the year under review along with the
comparative figures for the previous year is summarized
herein below:

The financial statements for the year ended 31st
March, 2025 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
Production

During the financial year 2024-25, your Company
produced 25,58,307 kg of made tea as against
28,16,540 kg of made tea produced in 2023-24.

Price & Sales

Your company's tea realized average price of
Rs.147.08 Per kg as against Rs. 120.32 per Kg
realized in last year. During the year, the Company
has made a total sale of tea of Rs. 41.58 Crore
compared to Rs 38.08 Crore in last year.

Wind Power Generation

During the year under review, the Wind Mills
generated 7,69,450 Units as against 19,93,320 Units
generated during the same period in last year.

Solar Power Generation

During the year under review, the Solar Power
generated 40,85,495 units as against 43,08,107 units
generated 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
2024-25 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. 1/- per
share) for the year ended 31st March 2025 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 2024-25.

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.

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.
Further, the Company has not issued any convertible
instrument and therefore, none of the Directors of
the Company hold any convertible instruments in
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 2,20,769/- for the financial
year 2016-17 to IEPF Authority during the financial
year 2024-25. Further 9403 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. List of shareholders whose dividend remained
unclaimed as on 31st March, 2025 is uploaded on
the website of the Company at www.periatea.com.

9. Extract of Annual Return

Pursuant to Section 92(3) read with Section 134(3)
of the Act, and rules thereof, the draft Annual Return
for the year ended 31st March, 2025 is available on
the website of the Company and may be accessed at
the link: https://www.periatea.com/annual-return. The
final Annual Return shall be uploaded at the same
web 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 resolution 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 6 (six) times during the financial year
2024-25. 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 2025, 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 2024-25, 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 2025-26.

14. Directors' Responsibility Statement

In terms of the provisions 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 2025,
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 financia
controls to be followed by the company and that
such internal financial controls are adequate and
were operating effectively;

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, 2025 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 32 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 2024-25
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/policies-and-code-of-conduct.

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 applicable 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,
Board culture, execution and performance of specific
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

Mr. Lakshmi Niwas Bangur (DIN: 00012617),
Director of the Company retires by rotation at
the ensuing Annual General Meeting and being
eligible offers himself for re-appointment. Brief
profile of Mr. Lakshmi Niwas Bangur, who is
to be re-appointed is furnished in the notice
of the ensuing Annual General Meeting 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 Mr. Lakshmi Niwas Bangur at
the ensuing Annual General Meeting.

b. Appointment / Reappointment/Cessation of
Directors / Key Managerial Personnel

1. Mr. K. Ashokan resigned from the position
of Chief Financial Officer (CFO) and Key
Managerial Personnel (KMP) of the Company
with effect from June 16, 2024. The vacancy
arising from his resignation was duly filled by
the appointment of Mr. Sreenivasan as Chief
Financial Officer and Key Managerial Personnel
of the Company with effect from July 22, 2024.
The said appointment was made by the Board
of Directors in compliance with the provisions of
the Companies Act, 2013 and other applicable
laws.

2. The Board of Directors, based on the
recommendation of the Nomination and
Remuneration Committee, have appointed

Mr. Amitav Kothari (DIN: 01097705) and
Mr. Rajiv Kapasi (DIN: 02208714) as
Non-Executive Independent Directors of the
Company for a term of five (5) consecutive
years with effect from September 20, 2024. The
said appointments were subsequently approved
by the shareholders through Postal Ballot, the
results of which were declared on December
13, 2024, being the last date fixed for e-voting
by the Company.

3. Mr. Harischandra Maneklal Parekh (DIN:
00026530), Mr. Pudugramam Ramachandran
Ramakrishnan (DIN: 02715749), and Mr.
Narasimhan Swaminathan (DIN: 02743671),
Independent Non-Executive Directors of the
Company, completed their second (2nd) and final
term as Independent Directors in accordance with
the applicable provisions of the Companies Act,
2013, and the rules made thereunder, as well
as the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended
from time to time. Accordingly, they ceased to
be Directors of the Company with effect from
September 22, 2024. The Board of Directors
and the Management of the Company expressed
deep appreciation and gratitude to them for their
extensive contribution and stewardship.

4. Mr. Shreeyash Bangur resigned from the post of
Director and Key Managerial Personnel (Deputy
Managing Director) of the Company with effect
from closing business hours on March 31, 2025.
The Board of Directors and the Management of
the Company expressed deep appreciation and
gratitude to him for his extensive contribution
and stewardship.

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

Apart from the aforesaid appointment/ reappointment/
cessation, 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

During the Financial Year 2024-25, the Company did
not have any Subsidiary, Associate or Joint Venture
Company.

25. Details of significant and material orders passed
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. Further, the 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 specifically permitted.

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

In compliance with Section 139 of the Companies
Act, 2013 read with Rules made thereunder,
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 2024-25. 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.

29. Internal Auditors

During the year under review, the Board of Directors,
based on the recommendation of the Audit Committee
at its meeting held on July 22, 2024, had approved
the appointment of M/s. Kumbhat & Co., Chartered
Accountants, Chennai, as Internal Auditors of the
Company for the financial year 2024-25. However,
due to internal and logistical constraints, M/s.
Kumbhat & Co. resigned from the position with effect
from September 2, 2024.

To fill the vacancy, M/s. Jha Yadav & Co., Chartered
Accountants, Kolkata (Firm Registration No.
327725E), were appointed as the Internal Auditors of
the Company for the financial year 2024-25 by the
Board of Directors, on the recommendation of Audit
Committee, at the meeting held on September 20,
2024, in accordance with the provisions of Section
138 of the Companies Act, 2013 read with Rule 13
of the Companies (Accounts) Rules, 2014.

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.

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 complaint from any employee during
the financial year 2024-25.

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(9)
and (10) of the Companies Act, 2013 and rules
thereof 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 this
Report and also posted on the Company's website
and can be accessed at the weblink https://www.
periatea.com/policies-and-code-of-conduct.

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/
policies-and-code-of-conduct.

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 read
with Schedule V 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, 2025, 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 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 from CEO/CFO

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 https://www.periatea.com/policies-
and-code-of-conduct.

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, no application has
been made and no proceedings are 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 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
from the bank.

45. Acknowledgements

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

For and on behalf of the Board

Lakshmi Niwas Bangur

Kolkata Chairman

26th May, 2025. (DIN: 00012617)