Registered Office & Works : Talheti, Village : Karoli, ^I Tehsil : Abu Road, Dist. : Sirohi - 307510 ( Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLCOO2460

Date: -30/05/2024

BSE Ltd.

Department of Corporate Services

¹st Floor, New Trading Ring, Rotunda Building P J Towers, Dalal Street, Fort Mumbai - 400 001

Dear Sir/Madam,

Sub: - Outcome of Board Meeting dated 30th May, 2024 Scrip Code: BSE 515008

This has reference to our earlier letter dated May 20, 2024.

Pursuant to Regulation 30 & 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in its meeting held today, i.e. May 20, 2024 inter-alia approved the following:-

• l. Audited Standalone & Consolidated Financial Results for the quarter and year ended March 31,2024.
• 1. Considered and approved the revised terms and conditions of remuneration to Shri D.S. Singhvi as Chief Financial Officer & Vice President (Commercial) of the Company.

Further, in compliance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, a brief profile of Shri D.S. Singhvi is enclosed for your reference.

The Board Meeting Commenced at 11:30 A.M. and concluded at \~.:LI) r. rv\,

This is for your information and record.

Thanking you

nsulators Limited

Vikas Sharma Executive Director DIN: 00761202

Chartered Accountants

INDEPENDENT AUDITOR'S REPORT ON THE QUARTERLY AND ANNlJAL STANDALONE FINANCIAL RESULTS

To the Board of Directors of Modern Insulators Limited

Qualified Opinion

We have audited the accompanying Standalone Financial Results of Modern Insulators Limited (the 'Company') for the quarter and year ended 31 March 2024, attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

In our opinion and to the best of our information and according to the explanations given to us, except ~or the effect of the matters described in "Basis for Qualified Opinion" section of our report, the financial results:

• (i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015; and
• gives a true and fair view in conformity with the recognition and measurement ~rincip~es :laid down in the applicable Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India, of the standalone net profit, other comprehensive income and other financial information of the Company for the quarter and year ended 31 March 2024. (ii)

Basis for Qualified Opinion

Provision for taxation including interest estimated at Rs.955.83 lacs and Rs.2209. 77 lacs for the quarter and year ended 31 March 2024 respectively (Previous Year Rs.1762.36 lacs; upto the year Rs.9929.02 lacs) has not been made in accounts in view of the proposed amalgamation under the provisions of Companies Act, 2013. (Refer Note No.3)

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Companies Act 2013 (the 'Act'), as amended. Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('ICAl') together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the rules made thereunder and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Management's Responsibility for the Standalone Financial Results

These standalone financial results has been prepared on the basis of annual audited standalone financial st~tement~ and has. been approved by the Company's Board of Directors. The Company's Board of D~rec~ors IS responsible for the preparation and presentation of these financial results that gives a true and fair VIew of the net profit, other comprehensive income and other financial information in accordance with t~e re~ognition. a~? meas_urement princ~ples laid down in Indian Accounting Standard 34, "Interim Financial reportmg prescnbed under sectton.133 of the Act read with relevant rules issued thereunder and other accounting principles generally,4Ccep e " India and in compliance with Regulation 33 of the Listing Regulations. t- 0-

JAI

B-12, Bhagirath Colony, Chomu House, C-Scheme, Jaipur _ 302001 Rajasthan Bharat Phone: 0141 3153975 E-mail: [email protected]

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal fmancial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that gives a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing specified under section 143( I 0) of the Companies Act 2013, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with Standards on Auditing specified under section 143( 1 0) of the Companies Act 2013, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• * Identify and assess the risks of material misstatement of the fmancial results, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Company's internal control.
• * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• * Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the fmancial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained upto the date of our auditor's report. Ho e e e events or conditions may cause the Company to cease to continue as a going cone ,·1 0c;,

~ ~ rn

* Evaluate the overall presentation, structure and content of the financial results, including the disclosures and whether the financial results represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

,__"

The standalone financial results includes results for the quarter ended 31 March 2024 and 31 March 2023 being the balancing figure between the audited standalone figures in respect of full fmancial year ended 31 March 2024 and 31 March 2023 and the published unaudited year to date figures upto 31 December 2023 and 31 December 2022 respectively, which were subjected to limited review by us. (Refer Note No.4)

For R B Verma & Associates

Place _ Abu Road Date _ 30 May 2024 UDIN _ 2.. Lf Llc f..( o2...!3 a 1-< H H 'I c -z ⁰⁰⁷

Statement of Standalone Financial Results forthe Quarter and Year Ended 31st Mar ch, ²⁰²⁴

Standalone Segment Information forthe Quarter and Year Ended 31st March, ²⁰²⁴

Q

#3

STANDALONE STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31ST MARCH, 2024

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Notes:

• 1. The above audited financial results have been reviewed by the audit committee and approved by the Board of Directors at their respective meeting held on 30th May, 2024.
• 1. Company has given interest free unsecured loan Rs. ⁶³⁷⁴ lacs (previous year Rs. ⁵⁹³⁹ lacs) (maximum amount outstanding at any time during the quarter Rs. ⁶³⁷⁴ lacs) to ^a company covered undersection ¹⁸⁹ of the Companies Act, ²⁰¹³ in viewof proposed amalgamation underthe provisions of Companies Act, 2013. Since the amount paid is in connection to proposed amalgamation, no terms have been specified for the repayment ofloan and interest. In viewofthe likely advantage to theCompany on such amalgamation, granting ofsuch loan is not prejudicial to the interest ofthe Company.
• 1. Provision fortaxation including interest estimated at Rs. 955.83 lacs and Rs. 2209.77 lacs for the quarter and year ended 31st March, ²⁰²⁴ respectively (Previous Year Rs. 1762.36 lacs; upto the year Rs. 9929.02 lacs) has not been made in accounts in view of the proposed amalgamation under the provisions ofCompanies Act, 2013.
• ⁴ These financial results includes the results forthe quarter ended 31st March, ²⁰²⁴ & 31st March, ²⁰²³ being the balancing figures between the audited figures in respect of full financial year ended 31st March, ²⁰²⁴ & 31st March, ²⁰²³ and the published unaudited year to date figures upto 31st December,2023 & 31st December ²⁰²² respectively which were subject to limited review.
• ⁵ Figures for previous years have been regrouped orrearranged wherever necessary to make them comparable with the year's period's classification.

Place : Abu Road Date : 30th May, 2024 Forand on behalf ofthe Board ofDirectors MODERN INS TORS LIMITED

(Executive Director) DIN: 00761202

Statement on Impact of Audit Qualifications (For Audit Report on Standalone Financial Statements with qualified opinion) for the Financial Year ended March 31, ²⁰²⁴ [See Regulation ³³ / ⁵² of the SEBI (LODR) (Amendment) Regulations, 2016]

II. Audit Qualifications (each audit qualification separately):

a. Details of Audit Qualifications:

(a) Provision for taxation including interest estimated at Rs. 2209.77 Lacs for the year ended March 31, ²⁰²⁴ (Previous year Rs. 1762.36 Lacs; upto the year Rs. 9929.02 Lacs) has not been made in accounts in view of proposed amalgamation under the provisions of the Companies Act, 2013

• b. Type of Audit Qualifications: Qualified Opinion
• c. Frequency of Qualification:- Repetitive

d. For Audit qualification(s) where the impact is quantified by the auditor, Management's Views

Provision for taxation has not been made in accounts in view of proposed amalgamation under the provisions ofthe Companies Act, 2013

• e. For Audit Qualification(s) where the impact is not quantified by the auditor: Not Applicable •
• i. Management's estimation on the impact of audit qualification:
• ii. If management is unable to estimate the impact, reason forthe same:

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iii. Auditor's Comments (i) or (ii) above: ,,_ ii\$

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1. Signatories

••o=•tors Umited

Vikas Sharma Executive Director DIN : 0761202

For Modern Insulators Limited

924%%

o.s.s«at Chief Financial Officer

Place:- Abu Road Date:- 30/05/2024 For Modern Insulators Limited

S.K.Sharma Chairman ofAuditCommittee DIN: 01378040

Refer our Audit Report dated May 30, ²⁰²⁴ on Standalone Financial results ofthe Company

For RB Verma & Associates Charter (FRN

Partn Membership No. 404029

Place:- Abu Road Date:- 30/05/2024

INDEPENDENT AUDITOR'S REPORT ON THE QUARTERLY AND ANNUAL CONSOLIDATED FINANCIAL RESULTS

To the Board of Directors of Modern Insulators Limited (Holding Company)

Qualified Opinion

We have audited the accompanying Consolidated Financial Results of Modern Insulators Limited (the 'Holding Company') and its subsidiary (the Holding Company and its subsidiary together referred to as the 'Group') and joint ventures for the quarter and year ended 31 March 2024, attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the audit reports of the other auditors on separate audited financial statements of joint ventures as described in "Other Matters" section of our report, and except for the effect of the matters described in "Basis for Qualified Opinion" section of our report, the consolidated financial results:

• (i) includes the annual financial results of the following entities: (a) Modem Composites Private Limited (Wholly owned subsidiary company) (b) Shriji Design - MIL N (joint venture) (c) SEC MIL JV (joint venture)
• (ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015; and
• (iii) gives a true and fair view in conformity with the applicable Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India, of the consolidated net profit, other comprehensive income and other financial information of the Group and joint ventures for the quarter and year ended 31 March 2024.

Basis for Qualified Opinion

Provision for taxation including interest estimated at Rs.955.83 lacs and Rs.2209. 77 lacs for the quarter and year ended 31 March 2024 respectively (Previous Year Rs.1762.36 lacs; upto the year Rs.9929.02 lacs) has not been made in accounts of Holding Company in view of the proposed amalgamation under the provisions of Companies Act, 2013. (Refer Note No.3)

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Companies Act 2013 (the 'Act'), as amended. Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We are independent of the Group and joint ventures in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('ICAl') together with the ethical requirements that are relevant to our audit of the consolidated financial results under the provisions of the Act and the rules made thereunder and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence obtained by us and that obtained by the other auditors in terms of their reports referred to in "Other Matters" section of our report, is sufficient and appropriate to provide a basis for our qualified opinion.

he basis of annual audited consolidated financial ,""'_'''II"''''Hany'S Board of Directors. The Holding Company's These consolidated financial results has statements and has been approved by th .

'_

Board of Directors is responsible for the preparation and presentation of these financial results that gives a true and fair view of the consolidated net profit, other comprehensive income and other financial information of the Group and its joint ventures in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial reporting" prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Board of Directors' / Management of Group and its joint ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its joint venture and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that gives a true and fair view and are free from material misstatement, whether due to fraud or error, which has been used for the purpose of preparation of this consolidated financial results by the directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors' / Management of the companies included in the Group and its joint ventures are responsible for assessing the ability of the respective companies in Group and its joint ventures to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors' / Management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors / Management of the companies included in the Group and its joint ventures are also responsible for overseeing the financial reporting process of the companies included in the Group and its joint ventures.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act 2013 will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with Standards on Auditing specified under section 143(10) of the Companies Act 2013, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

* Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. ~l>- & As

• * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors / Management; and
• * Conclude on the appropriateness of the Board of Directors' / Management's use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its joint ventures to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained upto the date of our auditor's report. However, future events or conditions may cause the Group and its joint ventures to cease to continue as a going concern.
• * Evaluate the overall presentation, structure and content of the financial results, including the disclosures and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• * Obtain sufficient appropriate audit evidence regarding the financial results / financial information of the entities within the Group and its joint ventures of which we are the independent auditors and whose financial information we have audited, to express an opinion on the financial results. We are responsible for direction, supervision and performance of the audit of the financial information of such entities included in the financial results of which we are independent auditors. For the other entities included in financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of Holding Company and such other entities included in financial results, of which we are independent auditors, regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

We did not audit / review the annual financial statements / financial information of one joint venture, consolidated in the financial results, and which has been audited by its respective independent auditors, whose financial information (before eliminating intercompany balances/transactions) reflects total assets of Rs.44.20 lacs as at 31 March 2024, total revenue ofRs.7.87 lacs and net loss after tax Rs.36.09Iacs for the year ended as on 31 March 2024, as considered in the financial results. This annual financial statement has been audited by the other auditors, whose audit report has been furnished to us by the Holding Company's Board of Directors, and our opinion in so far as it relates to the amounts and disclosures included in respect of the joint venture, is based solely on the udit report of such other auditors.

The annual financial statements / financial information of one joint venture, consolidated in the fmancial results, whose financial information (before eliminating intercompany balances/transactions) reflects total assets of Rs.nil as at 31 March 2024, total revenue of Rs.nil and net profit / loss after tax Rs.nil for the year ended as on 31 March 2024, as considered in the financial results, which has not been audited by its auditors. This annual financial statement has been furnished to us by the Holding Company's Board of Directors, and our opinion in so far as it relates to the amounts and disclosures included in respect of the joint venture, is based solely on such unaudited fmancial information. In our opinion and according to the information and explanations give to us by the management, this financial statement is not material.

The consolidated financial results includes results for the quarter ended 31 March 2024 and 31 March 2023 being the balancing figure between the audited consolidated figures in respect of full financial year ended 31 March 2024 and 31 March 2023 and the published unaudited year to date figures upto 31 December 2023 and 31 December 2022 respectively, which were subjected to limited review by us. (Refer Note No. 4)

For R B Verma & Associates

/

Place - Abu Road Date - 30 May 2024 UDlN -2. '1l10 ({023 e« ^H1-1 YtS .3 72...9

TOTAL EQUITY AND LIABILITIES

Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi- ³⁰⁷⁵¹⁰ ( Rajasthan ) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email : [email protected]

55379.05 50370.24

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, ²⁰²⁴

Notes:

• 1. The above audited financial results have been reviewed by the audit committee and approved by the Board of Direct ors at their respective meeting held on 30th May, 2024
• 1. Modern Insulators Limited (Th e Holding Company) has given interest free unsecured loan Rs. ⁶³⁷⁴ lacs (previous year Rs. ⁵⁹³⁹ lacs) (maximum amount outstanding at any time during the quarter Rs. ⁶³⁷⁴ lacs; previous year Rs. ⁵⁹³⁹ lacs) to ^a company covered under sec tion ¹⁸⁹ of the Companies Act, ²⁰¹³ in view of proposed amalgamation under the provisions of Companies Act, 2013. Since the amount paid is in connec tion to proposed amalgamation, no terms have been spec ified for the repayment of loan and interest. In view of the likely advantage to the Holding Company on such amalgamation, granting ofsuch loan is not prejudicial to the interest ofthe Holding Company.
• 1. Provision for taxation including interest estimated at Rs. 955.83 lacs and Rs. 2209.77 Lacs for the quarter & Year ended 31st March, ²⁰²⁴ respec tively (Previous Year Rs. 1762.36 lacs; upto the year Rs. 9929.02 lacs) has not been made in accounts of Holding company in view of the proposed amalgamation under the provisions ofCompanies Act, 2013.
• ⁴ These financial results includes the results for the quarter ended 31st Mar ch, ²⁰²⁴ & 31st March, ²⁰²³ being the balancing figures between the audited figures in respec t of full financial year ended 31st March, 2024 & 31st March, 2023 respectively and the published unaudited year to date figures upto 31st Dec ember,2023 & 31st Dec ember ²⁰²² which were subjec ^t to limited review.
• ⁵ Figures for previous years have been regrouped or rearranged wherever nec essary to make them comparable with the current year's classification.

Place : Abu Road Date: 30th May, ²⁰²⁴

For and on behalf ofthe Board of Directors MODa: LIMITTD

Vikas Sharma (Executive Director) DIN: ^00761202

Statement on Impact of Audit Qualifications (For Audit Report on Consolidated Financial Statements with qualified opinion) for the Financial Year ended March 31, 2024 [See Regulation ³³ / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]

(Rs. In Lacs)

a. Details of Audit Qualifications:

(a) Provision for taxation including interest estimated at Rs. 2209.77 Lacs forthe year ended March 31, 2024 (Previous yearRs. 1762.36 Lacs; upto theyear Rs. 9929.02 Lacs) has not been made in accounts of Holding company in view ofproposed amalgamation under the provisions of the Companies Act, 2013

b. Type of Audit Qualifications: Qualified Opinion

c. Frequency of Qualification:- Repetitive

d. For Audit qualification(s) where the impact is quantified by the auditor, Management's Views

Provision for taxation has not been made in accounts of Holding company in view of proposed amalgamation underthe provisions of the Companies Act, 2013

e. For Audit Qualification(s) where the impact is not quantified by the auditor: Not Applicable

• i. Management's estimation on the impact of audit qualification:
• ii. If management is unable to estimate the impact, reason forthe same:
• iii. Auditor's Comments (i) or (ii) above:

c)odern Registered Office & Works : Talheti, Village : Karoli, Tehsil : Abu Road, Dist. : Sirohi - 307510 ( Rajasthan) India Phone : 02974 - 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLCOO2460

Brief Profile of Shri D.S. Singhvi

Date of Appointment & Term of Appointment: Shri D.S. Singhvi (PAN No. AAGPS7291D) is re-appointed as a Chief Financial Officer (CFO) w.e.f. July 01, 2024 for such tenure, remuneration and terms as decided by the Board of Directors of the Company. He has completed Bachelor of Commerce and Chartered Accoun tancy

Shri D.S. Singhvi is not related to any Director of the Company.