Dear Shareholders,

I trust you all are healthy, safe, and keeping well. It gives me immense pleasure to present our 06^th Annual Report and highlights of our performance, progress, challenges we have faced and path towards growing sustainably this year at Promax Power Limited. This report also represents a significant turning point in our ongoing efforts to give stakeholders thorough and honest information about the Company.

Promax Power was established in 2004 and has more than 18 years of experience in Project Management & Execution. It obtained corporate registration as per Companies Act 2013, in the year 2017 and commenced its listed entity journey on Bombay Stock Exchange since 12^th October, 2021.

Promax Power provides engineering, procurement, construction, project management and Commissioning services on a Turnkey basis to the Power Sector leveraging its proven project management and delivery experience of over 18 years, its construction capability, engineers and domain experts. Promax provides technical expertise in the most efficient and cost-effective way helping to ensure the highest degree of reliability and availability of your project. Having achieved certain degree of expertise after successfully executing various projects we have an extremely experienced and diverse set of professionally trained and qualified engineers having versed ability in tackling and providing solutions to our customers and capability to handle all requirements and installations even at the highest scale and magnitude.

1. Power Transmission & Distribution:

Promax Power excels in providing comprehensive solutions for power transmission and distribution projects. Our extensive experience ensures efficient and reliable project delivery, contributing to the stability of power networks.

2. Substation Construction:

We specialize in substation construction, offering turnkey solutions. Our engineers and experts ensure the seamless integration of substations into the power grid, enhancing its efficiency and reliability.

3. Transmission Line Installation:

Promax Power has a proven track record in the installation of transmission lines. We leverage our expertise to ensure the successful execution of transmission projects, facilitating the efficient flow of power.

4. Civil Construction:

Our capabilities extend to civil construction, where we undertake a wide range of projects. Our skilled team ensures the highest standards of construction, meeting diverse infrastructure needs.

5. Solar Projects EPC:

Promax Power is at the forefront of renewable energy. We offer end-to-end solutions for solar projects, from design and procurement to construction and commissioning, contributing to sustainable energy generation.

6. Pre-Engineered Buildings:

Our expertise extends to pre-engineered buildings, providing efficient and cost-effective structures tailored to various industrial and commercial needs.

7. Sewerage Treatment Plants:

We are committed to environmental sustainability. Promax Power specializes in designing and constructing sewage treatment plants that adhere to the highest environmental standards.

8. Water Treatment Plants:

Our focus on clean water solutions is evident in our water treatment plant projects. We ensure the purification and distribution of safe drinking water to communities.

A Milestone Year at Promax Power - Operational and Financial Highlights FY. 22-23

We are delighted at our journey this financial year. The tireless efforts of the team to meet our collective vision of enhancing overall quality and cost effectiveness of power delivering systems, has been well organised and fruitful for our clients. These efforts have led to a robust business performance, setting us on a high growth trajectory.

As a result of continuing efforts to overcome the effects of the challenges, the company achieved positive growth in financial performance. At Promax Standalone level, our revenue increased by 38.30% to Rs. 5497.83 Lakhs, and we continued to maintain a positive EBITDA margin of 3.36% and a good PAT margin of 0.46%. This is due to the company's primary focus on working capital management and generating positive cash flow through various projects.

New Developments

In summary, FY-2022-23 was marked by significant achievements and developments for Promax Power. With a strong foundation of experience and expertise, the company continued to grow and diversify its offerings while maintaining a commitment to excellence, innovation, and customer satisfaction. Promax Power's journey in project management and execution remains guided by a vision of contributing to the growth and development of the infrastructure sector in India.

Looking Forward

As we look forward to the future, our aspirations are high. We are dedicated to increasing our revenue, improving profitability, and actively pursuing new orders in the EPC sector. By expanding our reach and influence in infrastructure development, we aim to strengthen our position in the industry. Our vision is to continuously grow and innovate, delivering exceptional value to our clients and stakeholders, and contributing to the advancement of our industry.

Gratitude

I would like to express my gratitude towards the Board for their constant guidance. Their trust in our business propositions and policies along with their invaluable support has helped the Company scale new heights. I thank our investors, bankers, customers, channel partners and the wider community for placing their trust and confidence in us. Your unshakeable trust in us is an immutable source of power which keeps us pushing forwards despite all odds. I would like to thank you all for believing in the Promax growth story and the value system of Quality, Engineering, Safety and Spirit of Partnership. Lastly, a big thank you to each our employees for tirelessly striving to build a valuable organisation that will scale new heights in India's power delivery system story. I look forward to sharing with you more milestones in this journey in the coming years.

Mr. Vishal Bhardwaj

Promoter and Managing Director