Lemon Tree Hotels Ltd. · NSE:LEMONTREE
Lemon Tree Hotels — Q2 FY24 Earnings Presentation
66 slides from Lemon Tree Hotels's earnings presentation, Nov 9, 2023
Slide 1: Outcome of Board Meeting letter to exchanges
November 9, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400001 Bandra (E), Mumbai – 400051 NSE Scrip Symbol: LEMONTREE BSE Scrip Code: 541233 Sub: Outcome of the Board Meeting and Disclos
Slide 2: Enclosures and sign-off by CFO
Further, we are enclosing herewith the following in regard to the above: i) Unaudited financial results (Standalone & Consolidated) for the quarter and half year ended September 30, 2023 and limited review report issued by the Statutory Auditors Report thereon along with the Investor Presentation; a
Slide 3: Independent Auditor's Review Report - Consolidated
a chi d A tant: Deloitte fhe Balding 10 = Tower B DLF Cyber City C I Haskins & Sells LLP beeen Gurugram-122 002 Haryana, India Tel: +91 124 679 2000 Fax; +91 124 679 2012 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF LEMON TREE H
Slide 4: Auditor report: list of subsidiaries
Deloitte Haskins & Sells LLP 9. Grey Fox Project Management Company Private Wholly owned subsidiary company Limited 10. Dandelion Hotels Private Limited Wholly owned subsidiary compan 11. | Lemon Tree Hotel Company Private Limited Wholly owned subsidiary company 12. Red Fox Hotel Company Private Lim
Slide 5: Auditor report: unreviewed subsidiaries
Deloitte Haskins & Sells LLP We did not review the interim financial results of 21 subsidiaries and 1 Limited liability partnership firm included in the consolidated unaudited financial results, whose interim financial results reflects total assets of Rs. 92,738.90 lakhs as at September 30, 2023, to
Slide 6: Statement of Unaudited Consolidated Financial Results
TeL: 011-46050101; Fax.: 011-46050110; E-Mail @) CIN: L74899DL1992PLC049022 Lemon Tree Hotels Limited Regd Office:- Asset No, 6, Aerocity Hospitality District, New Delhi-110037 hotels.com: Website: www. om Statement of Unaudited Consolidated Financia! Results for the Quarter and Half Year ended Sept
Slide 7: Statement of Consolidated Assets and Liabilities
Notes: 1, Statement of Consolidated Assets and Llabilities @ In Lakhs) Particulars ‘Asat Asat September 30, March 31, 2023 2023 (Unaudited) (Audited) ‘Assets Non-current assets (@ Property, plant and equipment 242,428.41 2,45,048.04 (b) Capital work-in-progress 68,793.52 46,910.37 (c) Investment Pro
Slide 8: Statement of Consolidated Cash Flow
2. Statement of Consolidated Cash flow @ In Lakhs) Particulars Halfyear ended | Half year ended September 30, September 30, 2023 2022 Wnaudited) (Unaudited) ‘A Cash flow from operating activities Profit before tax 7,125.79 4,566.74 Non-cash adjustments to reconcile profit before tax to net cash flow
Slide 9: Notes to consolidated results
3. The Audit Committee has reviewed the above results and the Board of Directors has approved the above consolidated financial results at their respective meetings held on November 08, 2023 and November 09, 2023. 4, The above consolidated financial results have been prepared in accordance with the r
Slide 10: Independent Auditor's Review Report - Standalone
Hf Chartered Accountants Deloitte inter paleo Tower B Haskins & Sells LLP DLE Cyber chy Complex Gurugram-122 002 Haryana, India Tel: +91 124 679 2000 Fax: +91 124 679 2012 INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF LEMON TREE HO
Slide 11: Auditor report continuation
Deloitte Haskins & Sells LLP Nil for the quarter and half year ended September 30, 2023 respectively, total net loss after tax of Rs. 0.04 lakhs and Rs. 0.05 lakhs for the quarter and half year ended September 30, 2023 respectively, total comprehensive loss of Rs. 0.04 lakhs and Rs. 0.05 lakhs for t
Slide 12: Statement of Unaudited Standalone Financial Results
Lemon Tree Hotels Limited Regd Office:- Asset No. 6, Aerocity Hospitality District, New Delhi-110037 Tel.: 011-46050101; Fax.: 011-46050110; E-Mail:sectdeptt@temontreehotels.com: Website: www.lemontreebotels.com CIN: L74899DL1992PLC049022 Statement of Unaudited Standalone Financial Results for the Q
Slide 13: Statement of Standalone Assets and Liabilities
Notes: 1. Statement of Standalone Assets and Liabilties (& In Lakhs) Asat As at Particulars lakers 7 30; canna (Unaudited) | (Audited) Assets Non-current assets (a) Property, plant and equipment 38,278.67 | 38,753.78 (b) Capital work-in-progress 2,233.67 2,135.05 (c) Investment Property 221.56 223.7
Slide 14: Statement of Standalone Cash Flow
2, Statement of Standalone Cash flow & In Lakhs) For the half | For the half yearended | year ended Particulars September 30,| September 2023 30, 2022 (Unaudited) | (Unaudited) Cash flow from operating activities Profit before tax 4,043.60 3,669.27 Non-cash adjustments to reconcile profit before tax
Slide 15: Standalone cash flow and notes
(& In Lakhs) For the half | For the half year ended | year ended September 30,| September Particulars 2023 30, 2022 (Unaudited) | (Unaudited) Net decrease in cash and cash equivalents (A + B+ C) (394.90) (898.91) Cash and cash equivalents at the beginning of the period 792.25 1,566.64 Cash and cash
Slide 16: Lemon Tree Hotels Limited Q2 FY24
09-November-2023 Q2 FY24 Earnings Presentation 1 Lemon Tree Hotels Limited Q2 FY24 Earnings Presentation | 9th November 2023 Aurika, Mumbai Sky City
Slide 17: Disclaimer
09-November-2023 Q2 FY24 Earnings Presentation 2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause
Slide 18: Chairman & Managing Director's Message
Q2 FY24 Earnings Presentation 09-November-2023 3 Chairman & Managing Director’s Message Commenting on the performance for Q2 FY24, Mr. Patanjali Keswani, Chairman & Managing Director – Lemon Tree Hotels Limited said, “In Q2, Lemon Tree Hotels continued its growth momentum from the previous year. Q2
Slide 19: Strong Q2 FY24 performance across key financial metrics
09-November-2023 Q2 FY24 Earnings Presentation 4 Strong Q2 FY24 performance across key financial metrics Q2 FY24 performance snapshot vs Q2 FY23 Total Revenue EBITDA EBITDA % Rs. 230.1 Cr Rs. 104.8 Cr 45.5% Up 17% Up 11% Down 225 bps PAT Cash Profit Cost of Debt % Rs. 26.4 Cr Rs. 49.0 Cr 8.84%* Up 3
Slide 20: Q2 FY24 Performance Highlights – Operational Metrics
09-November-2023 Q2 FY24 Earnings Presentation 5 Q2 FY24 Performance Highlights – Operational Metrics (Consolidated) Inventory Average Room Rate (Rs.) Owned/Leased rooms Managed/Franchised Total rooms 1% rooms QoQ 6% 7% 5,268 5,237 5,268 8,303 YoY 8,760 4,917 YoY 14% 5,090 5,090 YoY 3,213 3,670 Q2 F
Slide 21: Q2 FY24 Performance Highlights – Financial Metrics
09-November-2023 Q2 FY24 Earnings Presentation 6 Q2 FY24 Performance Highlights – Financial Metrics (Consolidated) Revenue from Operations (Rs. Cr) EBITDA (Rs. Cr) 11% -2% 16% 2% 106.8 YoY QoQ YoY QoQ 227.2 227.2 104.8 104.8 222.3 196.7 94.3 Q2 FY23 Q2 FY24 Q1 FY24 Q2 FY24 Q2 FY23 Q2 FY24 Q1 FY24 Q2
Slide 22: Month on Month Occupancy % and Gross ARR Trend
09-November-2023 Q2 FY24 Earnings Presentation 7 Month on Month Occupancy % and Gross ARR Trend Gross ARR (Rs.) Trend Occupancy % Trend RevPAR (Rs.) Trend 5,329 75% 5,284 73% 5,238 5,244 3,855 3,843 3,722 3,690 5,194 72% 3,584 3,601 5,156 70% 69% 3,342 3,224 3,234 3,197 4,998 3,095 3,120 67% 4,984 6
Slide 23: Q-o-Q performance of FY23 and FY24
09-November-2023 Q2 FY24 Earnings Presentation 8 Q-o-Q performance of FY23 and FY24 Q2 FY24 was the best ever “Q2” Particulars Q2 FY24 Q1 FY24 Q4 FY23 Q3 FY23 Q2 FY23 Q1 FY23 Gross ARR (Rs.) 5,268 5,237 5,824 5,738 4,917 4,822 Occupancy % 71.7% 70.2% 73.6% 67.6% 66.2% 65.1% Revenue (Rs. Cr) 230.1 22
Slide 24: Total Management Fees | Q2 FY24 vs Q2 FY23
09-November-2023 Q2 FY24 Earnings Presentation 9 Total Management Fees | Q2 FY24 vs Q2 FY23 24.0 18.7 13.6 12.1 10.4 + = 6.6 Management / Franchise fees from 3rd party Management Fees from Fleur Hotels Total Management Fees hotels Q2 FY23 Q2 FY24 Fees to Lemon Tree Hotels (Rs. Cr) Q2 FY23 Q2 FY24 Gr
Slide 25: Total Management Fees | H1 FY24 vs H1 FY23
09-November-2023 Q2 FY24 Earnings Presentation 10 Total Management Fees | H1 FY24 vs H1 FY23 47.9 38.5 27.1 + 23.2 = 20.8 15.3 Management / Franchise fees from 3rd party Management Fees from Fleur Hotels Total Management Fees hotels H1 FY23 H1 FY24 Fees to Lemon Tree Hotels (Rs. Cr) H1 FY23 H1 FY24
Slide 26: Market Segments: Q2 FY24 vs Q2 FY23
09-November-2023 Q2 FY24 Earnings Presentation 11 Market Segments: Q2 FY24 vs Q2 FY23 Market Segments Room Nights Sold – Q2 FY24 vs Q2 FY23 44% 50 % 39% 45 % 40 % 35 % 34% 34% 30 % 25 % 20 % 15 % 7% 7% 9% 10 % 5% 6% 7% 6% 5% 2% 0% Corporate Airline Travel Trade OTA LT.com Other FITs Q2 FY23 Q2 FY24
Slide 27: LTH vs Industry, Y-o-Y Growth
09-November-2023 Q2 FY24 Earnings Presentation 12 LTH vs Industry, Y-o-Y Growth (Q2 FY24 vs Q2 FY23) Gross ARR Occupancy RevPAR (Growth % vs Q2 FY23) (Growth in bps vs Q2 FY23) (Growth % vs Q2 FY23) 16% 542 16% 16% 7% -10 Industry Lemon Tree Hotels Industry Lemon Tree Hotels Industry Lemon Tree Hote
Slide 28: City level: LTH vs Industry
09-November-2023 Q2 FY24 Earnings Presentation 13 City level: LTH vs Industry – Q2 FY24 vs Q2 FY23 RevPAR (Growth % vs Q2 FY23) 43% 39% 37% 23% 23% 21% 18% 19% 18% 16% 16% 15% 15% 14% 13% 13% 11% 11% 10% 10% 11% 9% 3% -1% All India Kochi Chennai Chandigarh Mumbai Bengaluru Goa Pune Gurugram Hyderaba
Slide 29: Operational Performance by Brands & Region
09-November-2023 Q2 FY24 Earnings Presentation 14 Q2 FY24 Operational Performance by Brands & Region (On full inventory basis) Hotel level Average Daily Rate EBITDAR/room/qtr. Hotel level EBITDAR Parameters RevPAR (Rs.) Occupancy Rate (%) (Rs.) Margin % (Rs. Lacs) Q2 Q2 Change Q2 Q2 Change Q2 Q2 Cha
Slide 30: Consolidated P&L: Q2 FY24 vs Q2 FY23
09-November-2023 Q2 FY24 Earnings Presentation 15 Consolidated P&L: Q2 FY24 vs Q2 FY23 Q2 FY24 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) Excluding renovation and Aurika, Mumbai pre-operative exp. Q2 FY24 vs Q2 FY23 Consolidated P&L waterfall to explain delta (Rs. Cr) Excluding ren
Slide 31: Consolidated P&L: H1 FY24 vs H1 FY23
09-November-2023 Q2 FY24 Earnings Presentation 16 Consolidated P&L: H1 FY24 vs H1 FY23 H1 FY24 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) Excluding renovation and Aurika, Mumbai pre-operative exp. H1 FY24 vs H1 FY23 Consolidated P&L waterfall to explain delta (Rs. Cr) Excluding ren
Slide 32: Cost Structure: Q2 FY24 vs Q2 FY23
09-November-2023 Q2 FY24 Earnings Presentation 17 Cost Structure: Q2 FY24 vs Q2 FY23 * Expenses as a percentage of total revenue Up 225 bps 54% 52% Other expenses includes renovation expenses and Aurika, Mumbai Sky City’s pre-operative expenses Up 185 bps Up 176 bps 20% 20% 18% Down 87 bps 19% Down
Slide 33: Consolidated Profit & Loss Statement – Q2 FY24
09-November-2023 Q2 FY24 Earnings Presentation 18 Lemon Tree Consolidated Profit & Loss Statement – Q2 FY24 Q2 FY24 vs Q2 FY24 vs Rs. Cr Q2 FY24 Q1 FY24 Q2 FY23 Q1 FY24 Q2 FY23 Change (%) Change (%) Revenue from operations 227.2 222.3 196.7 2% 15% Other income 2.9 2.4 0.7 24% 306% Total revenue 230.
Slide 34: Consolidated P&L Statement Breakup
09-November-2023 Q2 FY24 Earnings Presentation 19 Lemon Tree Consolidated Profit & Loss Statement Breakup Lemon Tree Consolidated Keys Hotels Lemon Tree Consolidated excluding Keys Hotels Rs. Cr Q2 Q1 Q2 QoQ YoY Q2 Q1 Q2 QoQ YoY Q2 Q1 Q2 QoQ YoY FY24 FY24 FY23 Change Change FY24 FY24 FY23 Change Cha
Slide 35: Discussion on Consolidated Financial & Operational Performance
09-November-2023 Q2 FY24 Earnings Presentation 20 Discussion on Consolidated Financial & Operational Performance – Q2 FY24 ❖ Revenue from operations stood at Rs. 227.2 Cr in Q2 FY24 which was up 2.2% from Rs. 222.3 Cr in Q1 FY24 and was up 15.5% as compared to Rs. 196.7 Cr in Q2 FY23 ❖ Gross ARR sto
Slide 36: Consolidated Profit & Loss Statement – H1 FY24
09-November-2023 Q2 FY24 Earnings Presentation 21 Lemon Tree Consolidated Profit & Loss Statement – H1 FY24 H1 FY24 vs Rs. Cr H1 FY24 H1 FY23 H1 FY23 Change Revenue from operations 449.5 388.8 16% Other income 5.3 1.0 443% Total Income 454.7 389.7 17% Total expenses 243.1 202.8 20% Net EBITDA 211.6
Slide 37: Consolidated Balance Sheet – H1 FY24
09-November-2023 Q2 FY24 Earnings Presentation 22 Lemon Tree Consolidated Balance Sheet – H1 FY24 H1 FY24 vs Rs. Cr H1 FY24 H1 FY23 H1 FY23 Change Shareholder's Funds 864.4 847.0 2% Non-controlling interests 554.2 567.5 -2% Total Shareholder’s equity 1418.7 1414.6 0% Total Debt 1912.6 1680.9 14% Oth
Slide 38: Hotel Network Revenue – H1 FY24
09-November-2023 Q2 FY24 Earnings Presentation 23 Lemon Tree Hotel Network Revenue – H1 FY24 H1 FY24 vs H1 Hotel Network Revenue H1 FY24 H1 FY23 FY23 Change (Rs. Cr) (%) Owned Hotels 430 374 15% Managed and Franchised Hotels 261 217 21% Total Network Revenue 691 591 17%
Slide 39: Expansion Plans – Hotels under Development
09-November-2023 Q2 FY24 Earnings Presentation 24 Expansion Plans – Hotels under Development Under-development hotels Type Rooms Expected Opening date Ownership (%) Aurika, SkyCity, Mumbai International Airport Owned 669 Opened on 5th Oct 2023 58.91% Lemon Tree Mountain Resort, Shimla Owned 69 TBD 1
Slide 40: Snapshot of managed & franchised contracts pipeline
09-November-2023 Q2 FY24 Earnings Presentation 25 Expansion Plans – Snapshot of managed & franchised contracts pipeline
Slide 41: Opening of inventory in pipeline of managed & franchised contracts
09-November-2023 Q2 FY24 Earnings Presentation 26 Opening of inventory in pipeline of managed & franchised contracts (as of 30th September 2023) FY24 Total To be announced Brands (Oct’23 to FY25 FY26 FY27 Rooms (TBA) Mar’24) (Hotels) 242 242 Aurika Hotels & Resorts (2) (2) 117 160 120 82 479 Lemon T
Slide 42: Hotels opened and signed in Q2 FY24
09-November-2023 Q2 FY24 Earnings Presentation 27 Hotels opened and signed in Q2 FY24 (managed & franchised contracts) Hotels opened in Q2 FY24 # Hotels States Rooms Opening Dates 1 Lemon Tree Hotel, Manali (Franchised) Himachal Pradesh 34 July-23 2 Lemon Tree Hotel, Rajkot Gujarat 45 Aug-23 3 Penin
Slide 43: Pipeline of managed & franchised contracts (1 of 2)
09-November-2023 Q2 FY24 Earnings Presentation 28 Expansion Plans – Pipeline of managed & franchised contracts by opening (1 of 2) # Hotels Pipeline States Rooms Expected Opening 1 Lemon Tree Hotel, Hubli Karnataka 65 FY24 2 Lemon Tree Hotel, Dapoli Maharashtra 50 FY24 3 Keys Lite by Lemon Tree Hote
Slide 44: Pipeline of managed & franchised contracts (2 of 2)
09-November-2023 Q2 FY24 Earnings Presentation 29 Expansion Plans – Pipeline of managed & franchised contracts by opening (2 of 2) # Hotels Pipeline States Rooms Expected Opening 26 Lemon Tree Resort, Lumbini (Franchised) Nepal 81 FY25 27 Keys Lite by Lemon Tree Hotel, Dehradun (Franchised) Uttarakh
Slide 45: Aurika, Mumbai Sky City opened on 5th Oct 2023
09-November-2023 Q2 FY24 Earnings Presentation 30 OPENED ON 5TH OCT 2023 Aurika, Mumbai Sky City
Slide 46: Aurika, Mumbai Sky City | Deluxe King Room
09-November-2023 Q2 FY24 Earnings Presentation 31 Aurika, Mumbai Sky City | Deluxe King Room
Slide 47: Aurika, Mumbai Sky City | Deluxe King Room
09-November-2023 Q2 FY24 Earnings Presentation 32 Aurika, Mumbai Sky City | Deluxe King Room
Slide 48: Aurika, Mumbai Sky City | Deluxe King Room
09-November-2023 Q2 FY24 Earnings Presentation 33 Aurika, Mumbai Sky City | Deluxe King Room
Slide 49: Aurika, Mumbai Sky City | 'Mirasa' all day dining restaurant
09-November-2023 Q2 FY24 Earnings Presentation 34 Aurika, Mumbai Sky City | ‘Mirasa’ - all day dining restaurant
Slide 50: Aurika, Mumbai Sky City | Lobby
09-November-2023 Q2 FY24 Earnings Presentation 35 Aurika, Mumbai Sky City | Lobby
Slide 51: Lemon Tree Mountain Resort, Shimla | Representation
09-November-2023 Q2 FY24 Earnings Presentation 36 Lemon Tree Mountain Resort, Shimla | Representation
Slide 52: Lemon Tree Mountain Resort, Shimla | Current (Front)
09-November-2023 Q2 FY24 Earnings Presentation 37 Lemon Tree Mountain Resort, Shimla | Current (Front)
Slide 53: Lemon Tree Mountain Resort, Shimla | Current (Back)
09-November-2023 Q2 FY24 Earnings Presentation 38 Lemon Tree Mountain Resort, Shimla | Current (Back)
Slide 54: Lemon Tree – Snapshot as on 30th September 2023
09-November-2023 Q2 FY24 Earnings Presentation 39 Lemon Tree – Snapshot as on 30th September 2023 Operational Pipeline Operational + Pipeline Group 8,760 4,092 12,852 rooms; rooms; rooms; 95 hotels 52 hotels 147 hotels Brand Current Pipeline Operational + Pipeline Aurika Hotels & Resorts 194 Rooms;
Slide 55: Portfolio Breakup as on 30th September 2023 - Operational
09-November-2023 Q2 FY24 Earnings Presentation 40 Portfolio Breakup as on 30th September 2023 - Operational Owned (incl. on leased Operational Portfolio Leased Managed/ Franchised Total land) Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Aurika Hotels & Resorts 1 139 - - 1 55 2 194 Lemon Tree
Slide 56: Portfolio Breakup as on 30th September 2023 - Pipeline
09-November-2023 Q2 FY24 Earnings Presentation 41 Portfolio Breakup as on 30th September 2023 - Pipeline Owned (incl. on leased Pipeline Portfolio Leased Managed/ Franchised Total land) Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Aurika Hotels & Resorts 1 669 - - 2 242 3 911 Lemon Tree Premi
Slide 57: Q2 FY24 Earnings Presentation
09-November-2023 Q2 FY24 Earnings Presentation 42
Slide 58: ESG | Highlights of FY23 initiatives
09-November-2023 Q2 FY24 Earnings Presentation 43 ESG | Highlights of FY23 initiatives Energy Renewable energy Green building Diversity and inclusion 15% 10% 50% 10.97% 100% 25% 30% 13% Reduction in Reduction in Renewable energy Renewable energy Certified Green Certified Green ODIs1 in the ODIs1 in
Slide 59: Conference Call Details
09-November-2023 Q2 FY24 Earnings Presentation 44 Conference Call Details Time • 2:00 PM IST, Friday, November 10, 2023 Conference dial-in Primary number • Primary number: +91 22 6280 1141 / +91 22 7115 8042 Local access number • +91 70456 71221 (Available all over India) • Hong Kong: 800 964 448 •
Slide 60: About Lemon Tree Hotels
09-November-2023 Q2 FY24 Earnings Presentation 45 About Lemon Tree Hotels Lemon Tree Hotels Limited is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017, according to the Horw
Slide 61: Annexure-A Details under Regulation 30
Annexure-A Details under Regulation 30, Part A of Schedule III of SEBI Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023. Appointment of Mr. Praveen Garg (DIN: 00208604) as Additional Independent Director of the Company Sr. Details of events need to be Inf
Slide 62: Director profile continuation
Magistrate & Collector of the districts of Sidhi, Satna, Khandwa and Jabalpur. He has also served as Secretary (Finance); Commissioner (Institutional Finance); Managing Director, Madhya Pradesh State Industrial Development Corporation Ltd. (MPSIDC) and MP Trade & Investment Facilitation Corporation
Slide 63: Appointment of Mr. Sanjiv Nandan Sahai as Additional Independent Director
Appointment of Mr. Sanjiv Nandan Sahai (DIN: 00860449) as an Additional Independent Director of the Company Sr. Details of events need to be Information of such event No provided 1 Reason for change viz Upon recommendation of the Nomination appointment, resignation, and Remuneration Committee, the B
Slide 64: Director profile continuation
detailed outcome budget as part of restructuring of governance. He played a pivotal role in the formulation of GST and its introduction in Delhi. Additionally, Sahai served as the Home Secretary of Delhi and Chairman and Managing Director of Delhi Financial Corporation. Mr. Sahai was appointed the A
Slide 65: Appointment of Ms. Smita Anand as Additional Independent Director
Appointment of Ms. Smita Anand (DIN No. 00059228) as an Additional Independent Director of the Company Sr. Details of events need to be Information of such event No provided 1 Reason for change viz Upon recommendation of the Nomination appointment, resignation, and Remuneration Committee, the Board
Slide 66: Appointment of Ms. Jyoti Verma as Company Secretary
Appointment of Ms. Jyoti Verma (Membership No. FCS 7210) as Company Secretary & Key Managerial Personnel of the Company Sr. Details of events need to be Information of such event No provided 1 Reason for change viz Upon recommendation of the Nomination appointment, resignation, and Remuneration Comm