Emmbi Industries Ltd

Dear Shareholders,

On behalf of the Board and employees of Emmbi, I proudly present to you, our Annual Report 2023-24. All our endeavors are driven by the goal of "Championing Sustainability Worldwide", glimpses of which, you will see throughout this Report.

Our journey over the past three decades has been tremendously meaningful owing to your wholehearted and unwavering support thank you for being a part of the Emmbi journey.

We are delighted to share with you that 100% of Emmbi's products manufactured under our "Ecosafe" range (designed to recycle) and the "Reclaim" range (manufactured using substantialamounts of recycled resin) qualify all the global parameters of "Sustainable Bulk Packaging".

Our Company started its path-breaking journey in the field of sustainable manufacturing by developing recycled polymer products. Striking a balance between using recycled materials and maintaining products that are universally accepted proved to be quite challenging. Ours was one of the few companies that achieved success despite these challenges Emmbi's products are currently distributed in tive, "Pure Reclaim," over70countries allmadeusing certain percentage of recycled polymer.

Though the global economy experienced slowed growth at 2.7% this fiscal year, onally, compared to the previous year's 3.2%, it did not directly impact our operations. Our exports increased 4.47%, propelled by our newfound focus on manufacturing and distributing Sustainable Bulk Packaging. The Indian economy recorded an immense growth of 8.2% this fiscal year. Emmbi takes pride in making a contribution to this growth, while humbly acknowledging the path for growth ahead. We witnessed a growth of over 13% by volume. This, despite our value growth looking muted a result of price softening in the polymer sector, which was to the tune of 30 % over the previous fiscal year. Our mission, "Sustainability at work, translating to revenues", initiated in 2023, is now well-established with a comprehensive structural framework encompassing all operational parameters of the Company. The management team is now striving to expand Emmbi's business not only in developed Western economies but also in developed Eastern economies such as Japan and South Korea markets traditionally served by China and Vietnam. We have chartered a special five-year plan to penetrate these markets and achieve greater acceptance of our products and brand in the Eastern region. The launch of "Reclaim 30c, Recycled PP Products" last year has now surpassed its original boundary of using 30% recycled PP material.Thenew is now boundaryless in both the percentage of usage and the types of polymers used for processing. It is no longer limited to PP; it has expandedtoincludePEandPVC. it has extended beyond products made for the B2B market to encompass the entire product line, including Avana products in the B2C markets.

Our nationwide initiative, "Coconut Tree Plantation," aimed at benefiting existing Avana customers, has garnered remarkable admiration and goodwill among those who have been using Avana products for over six years. Emmbi has facilitated the planting of more than 5,000 coconut trees across Maharashtra, Karnataka, and Rajasthan. We also launched a special initiative "Sahajeevan" an Emmbi community designed to foster harmonious and meaningful relationships between the old and new employees. We appreciate the hard work of our long-standing employees and recognize the importance of new recruits in achieving our goal of creating a world-class business.

On behalf of everyone at Emmbi Industries Limited, I would like to extend my gratitude to the Government of India, UT administration of Dadra, Nagar Haveli, Daman and Diu; and the State Governments of Maharashtra, Karnataka, Rajasthan, Uttar Pradesh, and New Delhi, for their continued support in our operations.We also sincerely thank all our stakeholders, bankers, the Stock Exchanges, and financial institutions for their relentless trust in us.

Finally, and just as importantly, I extend my heartfelt thanks to all Emmbi employees, especially those who have journeyed with us for three decades, helping to create such a remarkableorganization