To the Members of LG Electronics India Limited

Your Board of Directors are pleased to present the 29th Annual Report on the business and operations of the Company and the Audited Financial Statements for the financial year ended March 31, 2026.

This being the first report after the Initial Public Offer ('IPO') and listing of the equity shares on BSE Limited ('BSE') and National Stock Exchange of India Limited ('NSE') (BSE and NSE hereinafter collectively referred as 'Stock Exchanges'), the Board welcomes all the shareholders.

FINANCIAL RESULTS

The Board's Report is prepared based on the financial statements of the Company. The Company's financial performance for the year under review along with previous year's figures are given hereunder -

FINANCIAL PERFORMANCE AND OPERATIONAL HIGHLIGHTS

During the year, the Company recorded Revenue from Operations of '246,049.12 million and Total Income of '249,328.09 million. The Company reported EBITDA of '24,083.05 million with an EBITDA Margin of 9.79%, while Profit Before Tax and Profit After Tax stood at '22,995.11 million and '16,850.93 million, respectively. Cash inflow from operating activities remained healthy at '17,212.48 million.

The Company maintained strong financial fundamentals with ROCE of 28.93% and Return on Net Worth of 22.09%. During the year, the Company continued to focus on operational excellence, product innovation, manufacturing efficiency and customer-centric initiatives, thereby strengthening its market position and creating long-term value for stakeholders.

SHARE CAPITAL

a. Authorised Share Capital

The Authorised Share Capital of the Company as on March 31, 2026 is ' 15,00,00,00,000 divided into 150,00,00,000 equity shares of ' 10/- each. There was no change in the authorised share capital of the Company, during the FY 2025-26.

b. Issued, Subscribed and Paid-up Share capital

The issued, subscribed, and paid-up share capital of the Company as on March 31, 2026 is '6,78,77,23,920 comprising 67,87,72,392 Equity Shares of '10/- each. There was no change in the share capital of the Company, during the FY 2025-26.

RESERVES

Your directors do not propose to transfer any amount to general reserve out of the amount available for appropriation.

DIVIDEND

The Board of Directors do not recommend any dividend for the financial year ended March 31, 2026.

The Company has formulated and adopted a Dividend Distribution Policy in the board meeting held on November 28, 2024 to establish the parameters to be considered before declaring or recommending dividend by the Board of Directors of the Company and lay down a broad framework for decisions to be made with regard to (i) Distribution of Dividend and (ii) Retaining profits so as to maintain a consistent approach of returning cash to shareholders and for further development of business. The Dividend Distribution Policy is available on the Company's website at .

SUBSIDIARY, JOINT VENTURE & ASSOCIATE COMPANY

As on March 31, 2026, the Company does not have any subsidiary/ material subsidiary, associate, or Joint Venture Company within the meaning of the Companies Act, 2013.

The Policy for determining the Material subsidiary is available on the website of the Company at

MATERIAL CHANGES & COMMITMENTS AFFECTING THE FINANCIAL POSITION

The equity shares of the Company were listed on the Stock Exchanges - National Stock Exchange of India Limited and BSE Limited on 14th October, 2025 through a successful Initial Public Offer of 10,18,15,859 Equity Shares of face value of '10 each aggregating to ' 1,01,81,58,590 comprising entirely of an offer for sale (OFS / the Offer) by LG Electronics Inc. ('Promoter Selling Shareholder'). The Company had completed its IPO successfully with participation of several leading domestic and global institutional investors as well as NRIs, HNIs and retail investors. The Board is gratified and humbled by the faith shown in the Company by its shareholders.

The Board also places on record its gratitude for the support provided by various Authorities, Book Running Lead Managers, Stock Exchanges, Investors, Registrar and Transfer Agent, Depositories, Counsels, Consultants, Auditors, other intermediaries and employees of the Company for making the IPO of the Company a grand success.

In addition to the above, there were no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year of the Company and the date of this Report.

UTILIZATION OF PROCEEDS OF INITIAL PUBLIC OFFER (IPO)

During the year under review, the Company successfully completed its Initial Public Offering (IPO), comprising entirely an Offer for Sale (OFS) by the existing shareholder, LG Electronics Inc. As the IPO did not involve any fresh issue of shares by the Company, the disclosure relating to the utilization of IPO proceeds is not applicable.

RELATED PARTY TRANSACTIONS

The Company has formulated a Policy on Related Party Transactions in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'). The Policy is available on the Company's website at

All related party transactions are placed before the Audit Committee for its review and approval. Omnibus approval is also obtained from the Audit Committee for repetitive transactions, in accordance with the aforesaid policy and the applicable provisions of law.

During the year under review, the Company entered into one material Related Party Transaction with LG Electronics Inc., the Promoter of the Company, in accordance with the applicable provisions of the law. The said transaction for FY 2025-2026 was approved by the shareholders of the Company at the Annual General Meeting held on September 5, 2025.

Further, the shareholders of the Company have approved the material Related Party Transaction for FY 2026-2027 through Postal Ballot, approved by Members on March 31, 2026, pursuant to Regulation 23 of the SEBI Listing Regulations, for an aggregate amount of ' 72,500 million.

The particulars of Related Party Transactions, as required under the Indian Accounting Standards (Ind AS), are disclosed in the Notes forming part of the Financial Statements.

The disclosure of Related Party Transactions, as required under Section 134(3)(h) of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014, in Form AOC- 2, forms part of this Report as Annexure I.

REVISION OF FINANCIAL STATEMENTS

There was no revision of the financial statements for the year under review. However, for the purpose of IPO, the Company has re-stated the financial statements of preceding three financial years pursuant to the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ('SEBI ICDR Regulations').

CREDIT RATINGS

The Company continued to maintain the highest credit rating of Crisil A1+ for its short-term borrowings and LongTerm credit rating of AAA/stable from CRISIL. The rating emphasizes the financial strength of the Company in terms

of the highest safety with regard to timely fulfillment of its financial obligations.

INTERNAL FINANCIAL CONTROL

The Company has laid down adequate internal financial controls commensurate with the scale, size and nature of the business of the Company. The Company has adopted the policies and procedures for ensuring orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records and timely preparation of reliable financial disclosures. Effectiveness of internal financial controls is ensured through management reviews and controlled self-assessment.

DEPOSITS

During the year under review, the Company did not accept or renew any deposits within the meaning of provisions of Chapter V-Acceptance of Deposits as per the Companies Act, 2013 ('Act') read with the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

As on March 31, 2026, the Company has not provided any loan / guarantee/ security in connection with such loan to any person or any other body corporate, nor acquired Security of any other body corporate as per Section 186 of the Act.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMPS)

- Board of Directors

The composition of Board of Directors of the Company is duly constituted. As on March 31, 2026, the Board comprised 6 Directors, including the Chairman, Executive Directors and Independent Directors.

- Chairman

Mr. Daehyun Song (DIN: 10835809), serve as the NonExecutive Director and Chairman of the Board.

« Independent Directors

During the year, there were 3 (three) Independent Directors:

- Ms. Promila Bhardwaj, (DIN: 06428534)

- Mr. Ramesh Ramachandran Nair, (DIN: 02528707)

- Mr. Santosh Kumar Mohanty, (DIN: 06690879)

- Executive Directors

During the year, there were 2 (two) Executive Directors:

- Mr. Hong Ju Jeon, Managing Director, (DIN: 10041232)

- Mr. Dongmyung Seo, Whole Time Director and Chief Financial Officer, (DIN: 09481866)

- Key Managerial Personnel (KMP):

During the year, there were 3 (three) KMPs of the Company:

- Mr. Hong Ju Jeon, Managing Director

- Mr. Dongmyung Seo, Whole Time Director and Chief Financial Officer

- Mr. Anuj Goyal, Company Secretary & Compliance Officer

- Re-appointment of Director:

During the year under review, the tenure of Mr. Dongmyung Seo as Whole Time Director expired on January 26, 2026. Based on the recommendation of Nomination and Remuneration Committee (NRC) and Board of Directors, he was re-appointed for a further period of four years effective from January 27, 2026, which was subsequently approved by the shareholders through Postal Ballot on March 31, 2026.

I n the opinion of the Board, all the directors, as well as the directors appointed / re-appointed during the year and proposed to be appointed/ re-appointed possess the requisite qualifications, skills, experience and expertise and hold high standards of integrity.

- Resignation and retirement of Directors and KMPs:

During the Financial Year 2025-26, no director have retired and/ or resigned.

- Retirement by rotation and subsequent reappointment:

Pursuant to provision of section 152 of the Act, Mr. Hong Ju Jeon, being the longest serving Director, is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

The Board recommends his re-appointment.

BOARD & COMMITTEES

As on the date of this report the Board has the following Statutory Committees:

i. Audit Committee (AC)

ii. Nomination and Remuneration Committee (NRC)

iii. Stakeholders' Relationship Committee (SRC)

iv. Risk Management Committee (RMC)

v. Corporate Social Responsibility Committee (CSR)

During the year under review, the Company had voluntary constituted IPO Committee for the purpose of approving and undertaking various activities in relation to the Offer and listing of Equity Shares on the Stock Exchanges.

AUDIT COMMITTEE

The Audit Committee comprises Mr. Santosh Kumar Mohanty as Chairperson, Ms. Promila Bhardwaj and Mr. Dongmyung Seo as members.

All the recommendations made by the Audit Committee were accepted by the Board during the year. Further, details on the above committee of the Board are given in the Corporate Governance Report.

Board Independence

Pursuant to Section 149(6) of the Companies Act, 2013 and Regulation 25 (8) of the SEBI Listing Regulations, all Independent Directors have submitted declarations confirming they meet the criteria of Independence. They have further confirmed that compliance with the Company's Code of Conduct and that they are not debarred by any SEBI order. The Board has formally taken these declarations on record.

Familiarization program

The details of familiarization programs for Independent Directors are available on the Company's website at

Board Meetings

10 (Ten) meetings of the Board of Directors of the Company were held during the Financial Year 2025-26. For details of meetings of the Board, please refer to the Corporate Governance Report, which forms part of this Annual Report.

Pursuant to the requirements of Schedule IV to the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, One separate Meeting of the Independent Directors of the Company were held during the reported year, on March 27, 2026, without the presence of Non-Independent Directors and members of the management, to inter-alia review the performance of Non-Independent Directors and the Board as a whole, the performance of the Chairperson of the Company, taking into account the views of Executive Directors, Non- Executive Non- Independent Directors and also to assess the quality, quantity and timeliness of flow of information between the Company Management and the Board.

Formal Annual Evaluation

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in accordance with the parameters suggested by the Nomination and Remuneration Committee, the Board of Directors carried out an annual evaluation for the Financial Year 2025-26, of its own performance, its Committees and Individual Directors (including the Chairman). The evaluation was undertaken by way of internal assessments, based on a combination of detailed questionnaires and verbal discussions.

The Company also has in place a Nomination and Remuneration policy to consider matters relating to the remuneration, appointment and removal of the Directors, Key Managerial Personnel and Senior Management and the same is available on the website of the Company at the

Performance Evaluation of the Board and Committees

The performance of the Board was evaluated by the Board Members after considering inputs from all the Directors primarily on:

- Board composition and quality with emphasis on its size, diversity, skill set of members;

- Board's alignment with the Company's values and vision;

- Board's participation and contribution in discussions related to both strategic matters and risk management appropriately;

- Board engagement with the broader leadership team;

- Periodic review of the Company's management and internal control system for appropriateness and relevance;

- Board process and procedure with emphasis on the frequency of meetings, attendance thereof and flow of information;

- Oversight of the Financial Reporting process including Internal Controls and Audit Functions;

- Engagement in Corporate Governance, ethics and compliance with the Company's code of conduct.

The Board evaluated the performance of the Committees on the following parameters:

- Agenda and conduct of each Committee meeting is appropriately driven by the respective Committee Chair;

- Appropriateness of size and composition;

- Clarity of mandate and well-defined agenda;

- Report to the Board on the Committee's activities;

- Availability of appropriate internal and external support or resources to the Committees.

Performance Evaluation of Individual Directors

The performance evaluation of the Individual Directors were carried out by the Board and other Individual Directors, considering aspects such as:

- Display of effective leadership qualities and skill;

- Exercise their duties with due diligence and reasonable care;

- I ndependent Directors are also independent in their view and judgements;

- I ndependent Directors have separate meeting(s) each year, independent of other Board Members and the management;

- I mplementation of observations/ recommendations of Board Members;

- Effective and timely resolution of grievances of Board Members;

- Sufficient knowledge of Company strategy and objective;

- Adequate and productive use of knowledge and experience of the Independent Directors for the functioning of Board;

- Efforts for professional development to enable better fulfilment of their responsibilities;

- Open and effective participation in Board discussions; Evaluation Outcome

The outcome showed that the Board is knowledgeable, balanced and functions very effectively. Management is transparent, agendas are sent promptly and minutes are accurately recorded.

The composition of the Board Committees has been suitable, and each committee has acted responsibly.

The Audit Committee functions to maintain the highest standards, particularly concerning related party transactions, impairment and pending (outstanding) receivables. Separate meetings with statutory auditors are regularly held without the presence of management representatives. Statutory and internal auditors are encouraged to exchange their findings wherever necessary. In certain matters of high importance outside legal advice is also taken.

The Independent Directors bring extensive experience to the Board and management values their inputs. They discharge their responsibilities effectively with independent judgement and management responds promptly to their recommendations. The Independent Directors also meet separately.

The non-independent directors are well-versed in their business areas and add meaningful value to decisions.

The Chairman provides effective leadership, is well informed and ensures the smooth functioning of the Board and the Company. He encourages open and constructive discussions.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(3) (c) & (5) of the Companies Act 2013, the Directors to the best of their knowledge hereby state and confirm that:

1. I n the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

2. 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 2025-26 and of the profit and loss of the Company for that period;

f 3. 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.

4. The directors had prepared the annual accounts on a ' going concern basis.

r 5. the Directors had laid down adequate internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively; and

j 6. The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

' PARTICULARS OF EMPLOYEES AND REMUNERATION

Disclosure pertaining to remuneration and other details as t required under Section 197(12) of the Companies Act, 2013 , ('the Act') read with Rule 5(1) of the Companies (Appointment

2 and Remuneration of Managerial Personnel) Rules, 2014 t (including any statutory modifications or amendments

1 thereto), is attached as Annexure II.

3 In accordance with the provisions of Section 136(1) of the Act, the Annual Report is being sent to the members of the Company excluding the statement containing particulars of employees

2 as required under Section 197 (12) read with Rule 5(2) and

2 5(3) of the Companies (Appointment and Remuneration of

t Managerial Personnel) Rules, 2014. Any Member interested . in obtaining a copy of the said statement may write to the

Company Secretary at .

; Further, pursuant to Section 197(14) of the Act, it is confirmed that none of the managerial personnel of the Company, including the Managing Director and Whole-time Director,

1 receive any commission from the Company. It is also confirmed

2 that none of the employees listed in the said Annexure are related to any Director of the Company.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

t LG Electronics India firmly believes that social responsibility

/ is an integral part of our organizational philosophy.

This commitment is reflected in our business practices, accountability and our dedication to enhancing the well- 2 being of communities and society through meaningful social i initiatives. The Company has in place a CSR Policy framed in accordance with the requirements of Section 135 of the Companies Act and Rules framed thereunder. The CSR Policy is i available on the Company's website at

i

a

I The Composition of the CSR Committee is disclosed in the t Corporate Governance Report forming part of the Annual Report.

The details of the CSR, setting out the disclosures as per Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed herewith as Annexure-III.

ANNUAL RETURN

Pursuant to the provisions of Section 92(3) and Section 134(3)(a) of the Companies Act, 2013, the Annual Return of the Company is available on the Company's website and can be accessed at

CORPORATE GOVERNANCE REPORT

The Company is committed to maintaining the highest standards of Corporate Governance and adheres to best- in-class governance practices. The Company's governance framework is guided by its core values, code of conduct, and a strong emphasis on transparency, accountability, and ethical business practices.

Pursuant to Regulation 34 of the SEBI Listing Regulations, a detailed Corporate Governance Report, along with a certificate from a Practicing Company Secretary confirming compliance with conditions of Corporate Governance, forms an integral part of this Annual Report.

A Certificate of the Managing Director and Chief Financial Officer (CFO) of the Company in terms of the SEBI Listing Regulations, inter-alia, confirming the correctness of the financial statements and cash flow statements, adequacy of the internal control measures and reporting of matters to the Audit Committee, is also annexed to the Corporate Governance Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report for the FY 2025-26, as stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is presented in a separate section, forming part of the Annual Report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

Pursuant to Regulation 34(2)(f) of the Listing Regulations, as amended, the Business Responsibility and Sustainability Report in the prescribed format forms part of this Annual Report.

COMPLIANCE WITH SECRETARIAL STANDARDS

As required under Section 118 (10) of the Companies Act, 2013, the Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India.

AUDITORS

A. Statutory Auditors

M/s Price Waterhouse Chartered Accountants LLP, Chartered Accountants (Firm Registration No. 012754N/ N500016), the Statutory Auditors of the Company, shall

complete their second consecutive term of five years at the conclusion of the ensuing Annual General Meeting ('AGM'). Accordingly, their tenure as the Statutory Auditors of the Company shall conclude at the conclusion of the ensuing AGM in accordance with the provisions of Section 139 of the Companies Act, 2013 and the rules made thereunder.

Based on the recommendation of the Audit Committee, the Board of Directors has approved and recommended the appointment of M/s Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration No. 117364W/ W100739), as the Statutory Auditors of the Company for a term of five consecutive years, commencing from the conclusion of the ensuing 29th AGM until the conclusion of the Annual General Meeting to be held in the year 2031, subject to the approval of the Members.

Statutory Auditors' Report

The Statutory Auditors' Report on the financial statements for the financial year ended March 31, 2026, does not contain any qualification, reservation, adverse remark or disclaimer. The notes to the financial statements referred to in the Auditors' Report are selfexplanatory and, therefore, do not call for any further comments under Section 134(3)(f) of the Companies Act, 2013.

Details in respect of frauds reported by auditors

During the financial year under review, the Statutory Auditors have not reported any instance of fraud under Section 143(12) of the Companies Act, 2013.

B. Cost Auditors

As per Section 148 of the Companies Act, 2013, the Company is required to have the audit of its cost records conducted by a Cost Accountant in practice.

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with Rules made thereunder, based on the recommendation of the Audit Committee, the Board of Directors re-appointed M/s J K Kabra & Co, Cost Accountants (Firm Registration No 0009 & Partner registration No 11827) as the Cost Auditor of the Company for the financial year 2026-2027, at an remuneration of ' 2.50 lakh, plus applicable taxes, reimbursement of out-of-pocket, subject to the ratification/approval of the members, if required under the applicable provisions of the Companies Act, 2013.

M/s J K Kabra & Co, Cost Accountants, conducted the cost Audit of the Company's cost records for the financial year ended March 31, 2026.

Disclosure on maintenance of Cost Records

The Company made and maintained the Cost Records under Section 148 of the Companies Act, 2013 for the financial year 2025-26.

C. Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, M/s Dhananjay Shukla & Associates, Practising Company Secretaries, conducted the Secretarial Audit of the Company for the financial year ended March 31, 2026.

Further, based on the recommendation of the Audit Committee, the Board of Directors has approved and recommended the appointment of M/s Dhananjay Shukla & Associates, Practising Company Secretaries, (Firm Registration No P2025HR323300 and Peer Review Certificate No. 2057/2022) as the Secretarial Auditors of the Company for a term of five consecutive years commencing from the financial year 2026-27, subject to the approval of the Members, wherever applicable.

Secretarial Audit Report

The Secretarial Audit Report for the financial year ended March 31, 2026, forms part of this Annual Report as Annexure IV. The Report does not contain any qualification, reservation, adverse remark or disclaimer.

Annual Secretarial Compliance Report

Pursuant to Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Annual Secretarial Compliance Report for the financial year ended March 31, 2026, issued by M/s Neeraj Arora & Associates, Practicing Company Secretaries, has been submitted to the Stock Exchanges within the prescribed timelines

DISCLOSURE UNDER FOREIGN EXCHANGE MANAGEMENT ACT, 1999

The Company is in compliance with the applicable provisions of the Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder. The Company has duly filed forms FC-GPR and FC-TRS on the RBI FIRMS portal during the year.

RISK MANAGEMENT POLICY

Pursuant to Regulation 21 of the SEBI Listing Regulations, the Company has a Risk Management Committee, the details of which are given in the Corporate Governance Report. The Company has adopted the Risk Management Policy in the board meeting held on November 28, 2024 to ensure that all the current and future material risk exposures of the Company are identified, assessed, quantified, appropriately mitigated, minimized and managed i.e. to ensure adequate systems for risk management and to establish a framework for identification of internal and external risks specifically faced by the Company, in particular including financial, operational, sectoral, sustainability, information, cyber security risks, or

any other risk as may be determined by the Risk Management Committee for the company's risk management process and to ensure its implementation.

DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM

As per the Companies Act, 2013 and the SEBI Listing Regulations, the Company has Vigil Mechanism/ Whistle Blower Policy and the same is hosted on the Company's website which can be accessed at .

A mechanism has been established for stakeholders to report concerns about unethical behavior, actual or suspected fraud or violation of Code of Conduct and Ethics. It also provides for adequate safeguards against the victimization of stakeholders who avail of the mechanism and allows direct access to Chairperson of the audit committee in exceptional cases.

The Company hereby affirms that no Director/ employee has been denied access to the Managing Director, during the Financial Year 2025-26. For more details refer to the Corporate Governance report of the Company.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has a policy of zero tolerance in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

The details of number of complaints, received during FY 2025-26, pending and resolved are provided in the Corporate Governance Report:

a. Number of complaints received by the Committee during the year: 1 (one)

b. Number of complaints disposed off during the year: 1 (one)

c. Number of cases pending for more than ninety days. None

RESEARCH & DEVELOPMENT, CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

The Company continues to focus on Research and Development activities with specific reference to emission conformance, fuel efficiency, vehicular performance and enhancement of safety, aesthetics & ride comfort and green initiatives. Expenditure incurred by way of capital and revenue on these activities is shown separately in this report. The particulars prescribed under Section 134 of the Companies Act, 2013 read with Rule 8 (3) of the Companies (Accounts) Rules, 2014, relating to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo are also furnished in Annexure V to this Report.

SIGNIFICANT AND MATERIAL ORDERS PASSED

There were no significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status of the Company and its operations in the future. However, there was one case filed against the Company under Insolvency & Bankruptcy Code by E Waste vendor namely Deshwal Waste Management Private Limited (DWMPL) which was dismissed pursuant to an order dated July 28, 2023 passed by the National Company Law Tribunal, New Delhi Bench DWMPL again filed a petition dated August 22, 2024 against our Company before the National Company Law Tribunal, New Delhi Bench at New Delhi on similar grounds, i.e., to initiate corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Our Company has received court notice, and the Company have filed the reply to which DWMPL filed Rejoinder.

OTHER DISCLOSURES

- There was no instance of one-time settlement with any Bank or Financial Institution.

- There are no unclaimed/unpaid dividends during the year. Therefore, the Company was not required to transfer any amount to Investor Education and Protection Fund.

- There has been no change in the nature of business of the Company.

- The Company has complied with all relevant provisions under Maternity Benefit Act, 1961.

ACKNOWLEDGEMENT

Your Directors take this opportunity to acknowledge the continuous support of its holding company LG Electronics Inc, Institutional Investors (Domestic), Institutional Investors (Foreign), and the retail shareholders of the Company. Your Directors would like to express their appreciation for the assistance and co-operation received from the Government authorities, Financial Institutions, Banks, Customers, Dealers, Vendors, Employees Union and all other business associates. The Directors also wish to place on record their deep sense of appreciation for the committed services by all the employees of the Company.