Dear Members,

The Board of Directors of ITI Limited ("the Company" or "ITI") hereby submits the report of the business and operations of the Company along with the Audited Financial Statements (Standalone and Consolidated) for the Financial Year (FY) ended 31 st March 2025, Auditors report and comments on the Accounts by the Comptroller and Auditor General (C&AG) of India.

The revival package of Rs 4156.79 Crore (Rs1892.79 Crore as grant-in-aid and Rs 2264 Crore as Capex Fund in the form of equity) as approved by the Cabinet Committee on Economic Affairs (CCEA) in February 2014 for ITI Limited, has helped in the CompanyRSs turnaround. The entire grant-in-aid of Rs. 1892.79 Crore has been received out of Rs. 4156.79 Crore. Out of Rs. 2264 Crore ITI has received Rs. 1191.56 Crore of the Capex Fund.

The Capex fund has been invested to upgrade manufacturing infrastructure across various ITI units, catering to emerging technologies in the domain of Telecommunications, Electronics, and ICT products, services & solutions. These projects have helped ITI Limited regain its manufacturing strength. The State-of-the-art infrastructure established under the revival package funds has boosted the manufacturing strengths to cater to domestic market demands under the "Make in India" mission of the Government of India.

FINANCIAL PERFORMANCE

Standalone Performance:

The performance of the Company (Standalone basis) for the financial year 2024-25 compared to the previous year 2023-24 is as under:

Rs. in crores

Consolidated Performance:

The Consolidated Revenue from operations at Rs. 3616.42 crores (PY Rs.1263.63 Crores) reflect an increase of 186.19% compared to the previous year. The profit / (loss) before tax and Profit / (loss) after tax for the financial year 2024-25 were Rs. (214.89) crore against Rs.(568.92) crore during the previous year.

Operational Performance:

The Company has achieved the turnover of Rs. 4323.37 crores during the FY 2024-25 against Rs. 1628.05 crores during the previous FY 2023-24.

PRODUCTION HIGHLIGHTS

Our Company is the leading Electronic manufacturing provider for 4G Radio Equipment, and Defence electronics products & systems. Our cutting-edge technology and solutions will revolutionize the industry and take it to the next level.

During the year, the Company apart from manufacturing Encryptors for Defence, has manufactured other telecom products like Laptops /Smaash PCs, Solar Panels/ modules/ power packs, Optical Fiber Cable, HDPE, ONT, OLT, ODC, telephones and Smart cards. Company has also engaged into contract manufacturing of Water Pipes, 4G RAN Equipment, Tablet PC etc at its various Units.

Order Book Position:

The Order Book position of the Company stands at around Rs. 16180 Crores (including APO of around Rs. 6,235 Cr for BharatNet Phase-III, BSNL 4G Rollout projects and Solar LED street lights).

Significant Achievements of the Company during the year are as follows:

?– ITI Limited has emerged as L1 in 3 out of 16 packages of BharatNet Phase-III tender floated by BSNL. ITI Limited has bagged Advance work order (AWO) from BSNL of worth Rs. 5,104 Cr for Design, Supply, Construction, Installation, Upgradation, Operation and Maintenance of middle mile network of Bharatnet, in the Himachal Pradesh, West Bengal and Andaman & Nicobar Telecom Circle of BSNL.

?– ITI Limited has received a Purchase Order (PO) from BSNL under RQ quota for Rs. 2,681 crores to support BSNLs 4G rollout by supplying and installing Radio Access Network (RAN) equipment at 23,633 sites in the West Zone. ITI has successfully supplied equipment to all 23,633 sites, completed installation at 21,874 sites, integrated 19,583 sites, and made 20,792 sites operational ("On Air") as part of this project.

?– ITI Limited (Naini) has also been selected as the successful bidder for the supply, installation, and commissioning of solar street lights in several districts of Uttar Pradesh by UPNEDA.

?– ITI Naini has got empaneled with BREDA for the solar street light project and manufactured & supplied 120W Solar panels to the tune of approx. 10,000 Nos.

?– ITI Bengaluru and Mankapur plants have received orders from M/s. Tejas Networks Ltd for manufacturing and supply of around 16,160 Nos ODC (Out Door Cabinet) for BSNL 4G Rollout Project worth of Rs. 52 Cr. During FY 2024-25, Units have manufactured and supplied more than 10,500 Nos ODC and generated revenue of Rs. 34 Cr. Additionally, ITI carried out contract manufacturing for 4G RAN equipment and supplied material to around 9000 RAN sites.

?– ITI Naini Unit has successfully completed the supply and installation of 1,13,488 Nos Solar Street Light Systems under the BREDA Project, with a project value of Rs. 240 Cr and the Unit has also undertaken Annual Maintenance Contract (AMC) services for 46,280 Nos Solar Street Light Systems valued at Rs. 4 Cr.

?– Motor vehicle department of Kerala, issued a Work order for printing of Driving Licenses and Registration Certificates in PVC Pet G card (without chip) to fulfill statewide requirement. Against which Palakkad Unit has supplied 33.64 Lakh Cards and achieved Rs. 23.81 Cr turnover.

DirectorsRS Report / BoardRSs Report

DETAILS OF TURNOVER ACHIEVED IN FY 2024-25 VS FY 2023-24:

(Value in Rs Crore)

CHANGE IN SHARE CAPITAL / ISSUE OF SHARES:

There was no change in the Authorized Share Capital of the Company during the year 2024-25.

During the financial year 2024-25, pursuant to the BIFR order dated 08 th January 2013, the Board of Directors had allotted equity shares to the President of India on preferential basis against CAPEX received on 21 st January 2025 from Government of India, details of which are as follows:

Accordingly, the paid up Equity Share Capital has increased to 10,19,88,69,380 as on date.

During the year under review, the Company has not granted stock options or sweat equity shares. As on 31 st March 2025, except for Smt S Jeyanthi who holds 50 equity shares of the Company, none of the Directors of the Company hold any shares of the Company.

DIVIDEND

As the Company had incurred loss during the year 2024-25 and still has accumulated losses of previous years, the Directors are not in a position to recommend any dividend for the year 2023-24.

RESERVES

As the Company still has accumulated losses, it has not transferred any amount to General Reserve.

OPERATIONAL PERFORMANCE OF PRODUCTION PLANTS AND SERVICE UNITS:

BENGALURU PLANT

I. Performance:

In the FY 2024-25, Bengaluru Plant has achieved the Turnover of Rs. 135.01 Crores, the turnover mainly consists of Manufacturing, Various Services and Projects.

II. Production & Manufacturing Highlights:

(i) 4G Tejas contract manufacturing:

ITI Limited has received Purchase Order (PO) from BSNL worth Rs. 2681 Crores for its 4G rollout. Against this order, ITI received order from M/s Tejas for manufacturing 4G eNodeB on contract manufacturing basis.

IGS/IGI Stores, Manufacturing and Testing Infra structure was established in F3 Hangar for 4G-Tejas contract manufacturing.

Bengaluru plant has successfully manufactured and supplied 4G Tejas equipment for around 10000 sites on SKD basis and generated revenue of Rs. 9.03 Cr against supply of RAN Equipment.

?€? Total no of eNodeBs supplied to BSNL - 8633 Sites

?€? Total no BBU supplied to Tejas - 733 Nos

?€? Total no of RRH supplied to Tejas - 9879 Nos

(ii) 4G C-DoT technology:

The Plant supplied Band B28 and B8 4G eNodeB to BSNL. POC completed successfully during 2024 and TEC certificate clearance is received.

The Plant supplied Band B28 eNodeB to Railways also and POC was completed successfully. This enabled ITI to receive order worth Rs 8 Cr from RDSO for supply of 43 nos of B28 systems.

The Plant has supplied B1 & B3 4G eNodeBs worth Rs 36 Lakhs to BSNL for PoC and is under progress.

Plant has supplied 4G e-NodeB worth Rs 34 Lakhs to BEL & Railtel also.

(iii) 4G-Tejas-ODC Manufacturing:

ITI Bengaluru Plant has manufactured and supplied 4612 Nos of Out Door Cabinets to BSNL as a part of 4G-BSNL project and generated revenue of worth Rs. 14.70 Cr.

(iv) High-Density Polyethylene (HDPE)/ PLB Duct Manufacturing:

ITI Bengaluru Plant has successfully executed order of M/s Aksentt worth Rs 3.51 Cr by manufacturing HDPE duct of 540 Km.

(v) Defence Business/ Encryption Products:

The Secrecy products for Defence Communication Networks and other Ministries are being designed by our R&D and manufactured, supplied & maintained by ITI for long time. ITI has been the pioneer in this field. The products have evolved over the years in tune with the evolution in the digital communication technology. There are major requirements of encryption products for Defence (NFS network, ASCON network), for Ministry of Home Affairs (MHA) and Indo Tibetan Border Police (ITBP) etc.

?€? Bengaluru plant has supplied 17 Nos of Ananda BEU IP Encryptors to Army, Western command for Rs. 0.70 Cr.

?€? Supplied 152 Nos of CFG, 8 Nos of MFG, 8 Nos of ALD and 2 Nos of Replicator to Assam Rifles for Rs. 0.95 Cr.

?€? Supplied 100 Nos of IP Encryptor and 68 Nos of CFG to IB- MHA for Rs. 3.11 Cr.

?€? Supplied 10 Nos of IPE with accessories to NSG for Rs.

0.72 Cr.

?€? Supplied 03 Nos of IPE with accessories to JCB for Rs. 0.15 Cr.

?€? Received order from ITBP worth Rs 3.28 Cr for supply of 91 nos of IP Encryptor systems along with Accessories.

?€? Received order from PMO DCN worth Rs 11.10 Cr for supply of Enhanced TESDs, Flexi Data Encryptors, BEU along with Accessories.

(vi) Telephones:

ITI Bengaluru Plant has Supplied 2850 Clip phones to ISRO for Rs. 0.57 Cr and 92 Nos of 5C telephones to Ashok Leyland, Indian Navy, Cochin shipyard, Goa shipyard, L&T, Hindustan shipyard for Rs. 0.29 Cr.

(vii) 3D Printing:

Bengaluru plant has been providing services to in-house requirements, start-up customers at ITI as well as external customers. Bagged the order for manufacturing of Satellite 1:1 study models, Mechanical Enclosure for satellite PCB assembly, and BALT assembly model for Gaganyaan project for VSSC (ISRO- Trivandrum) for Rs. 0.17 Cr.

?€? Total Revenue generated in FY 2024-25 from external customer is Rs 42 Lakhs.

?€? Major Customers are ISRO, ADA, HAL, AJAX etc.

III. Services Highlights:

(viii) Reliability Engineering Lab:

Reliability Engineering Lab is equipped with various Environmental Test Chambers. This helps in providing services to internal as well as external customers and facilitating to conduct all environmental tests as per QM333, JSS 55555, MIL Standards and Customer Test Requirement. Revenue generated during the year is Rs. 1.29 Cr.

(ix) Telecom Testing Lab (TTL):

NABL accredited EMI/EMC lab is a part of the Telecom Testing Centre which has been built at Bengaluru Plant to meet the EMC requirements of the Telecom Equipment which are launched in

the market. Industrial, Scientific, Medical and IT equipment can be tested for Emission and Immunity requirements of TEC as per International Standards. MIL-STD-461 is followed for Defence and Commercial equipment and can be tested as per CISPR 11/22/15/32.

?€? EMC Lab is upgraded to test defence equipment from Defence organisations like SITAR, BEL, HAL and their system developers.

?€? Revenue generated is Rs. 1.55 Cr.

(x) GSM SZ AMC:

ITI Bengaluru Plant has generated revenue of Rs. 12.37 Cr by providing AMC services to BSNL for 9ML GSM SZ project in the BSNL circles namely: Karnataka, Tamilnadu, Chennai, Andhra Pradesh, Kerala and Telangana.

(xi) Defence AMC & Non AMC card Repairs:

Bengaluru Plant is also executing the AMC for PMO DCN, Ananda BEU MK-II, EDUs, STM 1 and STM 4 secrecy Equipment supplied to Defence Customers all over India. For the year 2024-25, revenue generated is of Rs 1.01 Cr.

(xii) Data Centre and IT Business:

Data Centre is a physical / virtual infrastructure used by enterprises to house computer, Servers, Networking Systems and components for the organizationRSs information technology (IT) needs, which typically involves storing, processing and serving large amounts of mission critical data to clients in a client/server architecture. As a consequence, the security and reliability of data centres is of top priority for any organization.

The Data Centre is located at ITI premises in Bengaluru. It endeavours to provide customer-centric services to all the sectors. This Data Centre is serving for customers from Aviation, Universities, R&D institutions of Govt. of India, PSUs, MNCs and other small enterprises.

Facilities & Offerings:

Considering the huge market demand in view of Digital India Initiative and Governments decision to store the data and the financial transactions generated in Servers located in India, ITI has taken up Data Centre expansion in a big way. The large 2 Lakhs plus sq. ft capacity of ITI Data Centre is fully equipped with excellent facilities and with next generation technology which is capable of housing 1302 racks to provide all kinds of data centre services.

ITI data centre is designed to provide various services like Colocation, Managed & Cloud services. Email, Internet, back up services & SOC are also part of the offerings. SOC-as-a- Service is a managed Security Operations Centre (SOC).

The List of DC Service offerings are given below: -

?€? Rack space / Co-Location Services /Dedicated Hosting Services

?€? Managed Colocation

?€? Managed Storage Services, Backup Services, Database Management

?€? Server monitoring and Management services

?€? Managed Tape Backup Service

?€? Network Monitoring and Management Services

?€? Remote Infrastructure Management

?€? Cloud Services

?€? DR Services

?€? Email Services

?€? SOC services

Data centre is fully geared up to support multi density power requirements ranging from 3 KVA to 14 KVA per rack. It has an edge over other Data Centres not only through its complete range of Services but also with regards to its infrastructure, effective and eco-friendly fire suppression facilities, high level of security, carrier neutrality, redundant power availability, precision controlled environment and 24 x 7 support services with no down time in its whole history.

The Data Centre is a carrier neutral i.e. well connected with multiple ISPs ensuring high availability of Internet Connectivity.

The customers are also offered with seating facility, workstations & cabins, for their operating & maintenance staff and a NOC room for monitoring the performance.

Revenue generated from Data centre for FY 2024-25 is Rs. 34.02 Crore.

Certifications:

ITI Data Centre is TIA -942 Tier-3 certified and there are several layers of security conforming to international standards viz. ISO 9001,20000, 27001,27017, 27018 and CMMi L5. It is 99.982% availability as per Tier 3 standards, which is concurrently maintainable, allowing for any planned maintenance activity of power and cooling systems without disrupting the performance of the Data Centre.

The datacentre has been successfully audited for Meity Empanelment as a Cloud Service Provider, for providing cloud services such as IaaS, PaaS and SaaS under Public, Private and Hybrid cloud infra. ITI has also Government Community Cloud (GCC) for critical and confidential Government customers.

(xiii) Security Operations Centre (SOC):

Facility & Offerings:

ITI has a state-of-the-art Security Operation Centre (hereafter referred as SOC) offering SOC as-a-Service (hereafter referred as SOCaaS) to customers from various sectors like commercial, industrial, scientific, medical, communication, IT, etc. The SOCaaS is to monitor, prevent, detect, investigate, and respond to cyber threats round the clock. SOC services are used for monitoring and protecting the organizationRSs assets including intellectual property, personnel data, business systems, and brand integrity. The ITI SOC acts as the central point of collaboration in coordinated efforts to monitor, assess, and defend against cyber-attacks.

The List of offerings as defined services listed below:

?€? Identity and Access Management

?€? Next Generation Firewall

?€? Network Access Control

?€? End Point Detection and Response

?€? Data loss Prevention

?€? Email Security

?€? Security Information and Event Management (SIEM)

?€? User and Entity Behaviour Analytics (UEBA)

?€? Vulnerability Assessment and Penetration Testing

The customers are also offered with seating facility, workstations & cabins, for their operating & maintenance for monitoring the performance.

SOC or CYBER SECURITY RELATED PROJECTS:

ITI also manages various SOC and /or Cyber Security related projects for other customers at their place or at various field location across India. The Nature / Scope of project is to manage various Network equipment, Network backbone connectivity, Cyber security tools, Devices/HW/SW, Reporting & operations.

(xiv) Major R&D initiatives taken by the company:

CompanyRSs R&D philosophy is to enhance its pre-eminence in products / services of Defence Electronics and other chosen fields through Research & Development. CompanyRSs R&D strives for development of new products built with cutting- edge technology modules. While fully meeting the customer requirements, the products developed by Company are state-of- the-art, competitive and incorporate highest quality.

Research & Development (R&D) located in Bengaluru plant is designing & developing Communication Equipment to support In-House manufacturing and also keep abreast with State of the Art Technologies in the field of Electronics & Communications. R&D has core strength in design & development of Encryption systems to secure Communication Networks for defence forces, MHA, ITBP and other paramilitary forces etc ranging from 8Kbps to 10Gbps data rate over different media and also in development of Network solutions. The R&D team develops allied products in area of Transmission and terminal products.

The strength of R&D lies in its skilled design team with expertise in understanding product specification, development of Hardware & Software. The necessary infrastructure to aid design & development is available in the form of latest Test Instruments, Software design tools, CAD design tools, Reliability lab, EMI/ EMC test lab and Telecom testing lab.

Major R&D developed products/handled services in the following areas:

(1) Encryption Systems for Defence, MHA and paramilitary forces etc

(2) Network solutions for Communication Network

(3) Power supply modules

(4) Electronic Voting Machine (EVM)

(5) Radio systems

(6) Satellite based Navigation Systems

(7) Getting the CPC approval for crypto products with proprietary Algorithms

The successful Products / Solutions developed in Financial Year 2024-25:

Products/Services:

?€? Multi post Electronic Voting Machine

?€? Design and development of E1 BEU for eastern command and the successful completion of SAG Certification.

?€? Design and development of E-TESD, E-Flexi and E-BEU is in

progress to meet the DCN requirements. These Encryption products have successfully undergone Field trials, testing & Evaluation by customers.

New Initiatives undertaken in Financial Year 2024-25:

In the year 2024-25 R&D initiated development of new products like

Enhanced Terminal End Secrecy Device, Enhanced Flexi Encryptor (desktop

model), Enhanced Data Encryptor Card, Field Cipher Equipment MK II for

Army and R&D in the process of development of spare Algorithm for MCEU.

PALAKKAD PLANT

I. Performance:

In the FY 2024-25, Palakkad Plant has achieved the Turnover of Rs. 83.58 Crores.

II. Production / Service highlights:

Palakkad Unit continue to make headway in the IT Sector with winning repeated orders from customers like Keltron, IIT Palakkad, Universities etc for supply of IT hardware. It is also engaged in supporting various requirements like Examination Management System of Universities and Digitization of records. It continues its stride in the Space Electronics Sector with its contribution in fabricating avionics packages for various prestigious missions of ISRO like PSLV C56, pSlV C57, PSL C58, PSLV C59, Aditya L1, Gaganyaan etc. in addition to screening of components, also started executing orders for space electronic packages for HAL-L&T consortium for PSLV. It also contributed to the prestigious ASCON Project through supply of PLB HDPE Duct to various locations and TANFINET (Tamilnadu Fiber Network) Project with Tamilnadu State Government.

(i) Laptop:

After successfully established the ITI Smaash brand in the Micro PC segment, ITI Palakkad has now ventured into manufacturing ITI Smaash brand laptops. The ITI Smaash laptops have received great appreciation from major customers like KITE and KSEDC (Kerala State Electronic Development Corporation). These laptops carry national and international certifications such as CE, FCC, RoHS, BIS, and BEE, making them a significant addition to ITIRSs portfolio. During FY 2024-25, Unit has manufactured and supplied 3444 Nos of Laptops to various customers valuing Rs.1l.69 Crores.

(ii) Smaash PC and its IT Hardwares:

ITIRSs Smaash branded Mini PCs have strengthened their presence in the market through technological upgrades, incorporating newer generation processors. These compact computers, known for their energy efficiency and small form factor, are complemented by the Smart Power Station, a green energy solution that functions as a UPS and accepts power from both solar and grid sources. This innovative combination allows for minimal grid reliance and significant energy savings. Furthermore, these devices hold international certifications such as CE, FCC, RoHS, BIS, and Energy Star. The Mini PC business has expanded its reach to all over Kerala state. The product has garnered attention from esteemed customers including KSEDC, Kerala e-Health, Kerala Forest Department, NIC, Calicut University, Kannur University, and various educational institutions. In addition to Mini PCs, the Palakkad Plant offers a range of turnkey solutions associated with this product, such as Smart Class rooms for schools and universities, HCI (Hyper Converged Infrastructure) solutions, and Student Lifecycle Management Systems for universities.

During fiscal year 2024-25, ITI Palakkad Unit has secured Kerala e-Health order including Supply, Installation, Commissioning & Maintenance of Hardware Equipment for Hospitals under e-Health Project in Kerala, and has manufactured, supplied 1880 Nos of Mini PC to various customers and also supplied IT hardware to various Government and Private customers total valuing Rs. 10.30 Crores.

(iii) Vikram Sarabhai Space Centre (VSSC) Business:

ITI Palakkad Plant is associated with Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram in realization of electronic packages for various launch vehicles as well as screening of electronic components/Packages. The association started with the establishment of Space Electronics Fabrication Centre (SEFC) at ITI Palakkad for electronic assembly for Space Application in the year 2010 and expanded over a decade in to wide range of activities. The centre is approved for the realization of various Electronic Packages used in launch vehicles which include operations such as SMD Assembly & Manual Assembly, Conformal Coating, Card level testing, Integration, Integration testing, in line QC, Screening of Components, Test & Evaluation (T&E) of assemblies and multi stacks. Customized test jigs, Burn-in boards, Vibration fixtures and software programs are developed in-house for each assembly/components individually, meeting all the critical parameters identified by VSSC, for completion of item wise qualification procedures. ITI Palakkad is the only work centre accredited by VSSC for RF Package Assembly and Testing.

ITI Palakkad is having business association with 3 units of ISRO namely VSSC (Vikram Sarabhai Space Centre), LPSC (Liquid Propulsion System Centre) and MVIT (Mechanisms and Vehicle Integration Testing) all of which are located at Thiruvananthapuram and are engaged in the Manufacturing, Testing and Integration of all Launch Vehicles - PSLV, GSLV, GSLV Mark III, Gaganyaan etc. used in various space missions of ISRO. Orders are being received and executed continuously from the year 2010-11 onwards.

Recently our facility has been qualified for screening and package realization of Gaganyaan mission project of ISRO, against which pilot quantities are screened/assembled and delivered successfully. Expansion of scope of programme is being done continuously by developing test facilities for more devices.

Officials engaged in all these activities are qualified through highly stringent training and tests imparted by VSSC. The work is carried out in the contract manufacturing mode with all required components being provided by VSSC, as Free Issue Materials (FIMs).

More than 1.25 Lakhs electronic components are screened from this centre and more than 2750 flight packages manufactured by ITI are successfully used in various launch vehicles - GSLV, PSLV and GSLV Mark-III- of ISRO.

During FY 2024-25, Rs. 2.68 Crores revenue has been generated.

(iv) Smart Banking Card:

ITI Palakkad plant is having state of the art infrastructure in line with technical specifications for Payment Card Industry (PCI) from National Payments Corporation of India (NPCI). The infrastructure includes modern manufacturing equipment for Smart Card Assembly and customization for milling & embedding, personalization etc. Motor vehicle department of Kerala, issued a Work order for printing of Driving Licenses and

Registration Certificates in PVC Pet G card (without chip) to fulfill statewide requirement and supplied 33.64 Lakh Cards and achieved Rs. 23.81 Cr turnover.

(v) High-Density Polyethylene (HDPE) Duct Manufacturing:

Anticipating increased demand of OFC and HDPE conduits for OFC in the country considering the government focus on providing internet connectivity for all villages, ITI Palakkad has established 2 lines of HDPE machinery with an annual capacity of 8000 KM. While the HDPE Pipe Plant has got TSEC for manufacture of 40/33 mm PLB HDPE Duct and contributed to the requirement of more than 2000 KM of duct for ASCON Project in a timely manner with highest level of quality won accolades from the Indian Army. ITI Palakkad has also supplied 1250 Kms HDPE Pipe for Tanfinet Project.

(vi) AMC Services:

ITI has been the leader in supplying MLLN products and services, including turnkey solutions for supply, installation, integration, commissioning, operation and maintenance of Network Equipment to BSnL/MTNL since 2002-03. The existing MLLN networks has been installed and maintained. ITI Palakkad has executed AMC orders worth Rs 4.96 crores from BSNL during 2024-25.

Extension of AMC Services to various Telecom Exchanges (EPABX) across BSNL and Kerala Government Organisations, viz. Forest Head Quarters, CPCRI, etc. The work involves attending the customer calls and addressing the repair works valuing Rs.

0.54 Crores.

(vii) 4G Manufacturing:

RRU/ BBU manufacturing facility has been made available at Palakkad Unit. Contract manufacturing orders from M/s. Tejas Networks Ltd is executed for 251 BSNL 4G sites.

(viii) Digitization of Records:

The work is mainly related to conversion of physical papers/old important records of different sizes into various digital formats using high end contactless scanners and specialized software. During FY 24-25, we have executed digitization work at Kannur University and Kerala University valuing Rs. 0.25 Crores.

MANKAPUR PLANT

I. Performance:

In the FY 2024-25, Mankapur Plant has achieved the Turnover of Rs. 59.22 crore.

II. Production / Service highlights:

Mankapur Plant houses a state-of-the-art manufacturing facility for Electronic Manufacturing, Duct manufacturing and mechanical manufacturing.

(i) High-Density Polyethylene (HDPE)/ PLB Duct Manufacturing:

Mankapur Unit has manufactured and supplied PLB HDPE Telecom DUCT of size 40/33 MM to M/s Aksentt for BhartNet and Mahanet projects. Further, we are having 12094 KM orders for BharatNet Phase - III project for PKG - 8 & 9. Manufacturing has already been started. Total Revenue generated from HDPE Duct/ Water Pipes during FY 2024-25 is Rs. 12.74 Crore.

(ii) ONT-23 (Optical Network Terminal):

ONT-23 subsystem is the access node in FTTH (Fibre to the Home) architecture of GPON/EPON system. This is a sleek, compact, power efficient and cost effective ONT designed to serve Residential/Business/Mobile Backhaul requirements. This ONT not only provides access to triple play services Voice, Video and Data at the customer premises but also supports dying feature to differentiate between lack of power at ONT and fibre cut. Each ONT-23 requires a single fibre drop and is capable of providing highest dedicated bandwidth. Mankapur Unit has manufactured and supplied 21750 nos. of ONT-23 to Railtel through C-DOT against order of 40000 ONT-23. Total Revenue generated during FY 2024-25 is Rs. 2.08 Crore.

(iii) 4 port OLT (Optical Line Terminal):

It is a compact and cost optimized solution targeted at small scale deployments in Fiber to the Home/Building/Office (FTTH/ B/O) topologies. It supports up to 2.5 Gbps downstream to serve up to 512 users (with maximum split ratio of 1:128), and can deliver services up to a distance of 60 kilometres. It is capable of delivering high quality triple play services i.e. voice, video, and data. Mankapur Unit has manufactured and dispatched 1500 nos. 4 Port OlT to different BSNL Circles. 495 nos. of OLT has been installed and balance is in progress. Total Revenue generated during FY 2024-25 is Rs. 17.98 Crore.

(iv) Third Party Audit (TPA):

Mankapur Unit has taken up TPA activities for implementation of BharatNet in Jharkhand for Jharkhand Communication Network Limited, Odisha for Odisha Power Transmission Corporation Limited and TPA -VSAT in Manipur and Tripura. Work of Jharkhand and Odisha have been completed. Revenue of Rs. 30 Lakhs has been generated in the FY 2024-25.

(v) Diversified products:

Business carried out for the in-house developed and manufactured products like NCM (Note Counting Machine), SNVM- FLORA (Sanitary Napkin Vending Machine), SNDM- FAUNA (Sanitary Napkin Disposal Machine), FMVM-KAVACH (Face Mask Vending Machine), and FMDM-CONA (Face Mask Disposal Machine). Revenue of Rs. 26 Lakhs has been generated in the FY 2024-25.

(vi) Skill development:

Employee Development Centre (EDC) of Mankapur started OJT (On Job Training) programs for ITI (Industrial Training Institute) Students. Employee development Centre is also involved in conducting Course on Computer Concepts (CCC) examination at various centres in UP through National Institute of Electronics & Information Technology, Gorakhpur. Rs. 10 Lakhs revenue has been generated in the FY 2024-25.

(vii) ODC (Outdoor Cabinet):

ODCs are used to house equipment for powering and managing 4G network components like Base Band Units (BBUs), power supplies, and other networking components that need to be located outdoors, near the antennas on towers. Unit has designed, developed, manufactured and supplied 6003 nos. of ODC to M/s Tejas against total order of 10376 nos. of ODC. Rs. 18.81 Crore revenue has been generated in the FY 2024-25.

RAE BARELI PLANT (i) Solar Module Manufacturing:

I. Performance:

In the FY 2024-25, Rae Bareli Plant has achieved the Turnover of Rs. 40.60 Crores.

II. Production / Service highlights:

(i) OFC (Optical Fiber Cable):

The Indian Optical Fiber Cable market continues to grow steadily, driven by major government initiatives like Digital India, Smart Cities, and the BharatNet Project, along with rising FTTH (Fiber- to-the-Home) adoption and the expansion of data centers.

In line with national priorities, ITI Rae Bareli has maintained focus on meeting domestic OFC demand with its installed capacity of 30,000 KM per annum. During FY 2024-25, the unit has manufactured and supplied more than 2,500 KM of OFC to major national projects. Key contributions include:

?€? Defense ASCON Phase IV Project - Supplied around 2,200 KM of 24F OFC.

?€? Indian Railways - Supplied around 600 KM OFC to various zones.

(ii) Gigabit Passive Optical Network (GPON):

Rae Bareli Unit houses a state-of-the-art facility for GPON OLT & ONT systems. The plant is actively engaged in manufacturing and repairing of GPON cards for the BharatNet Phase II AMC project for various telecom circles of BSNL, supporting the digital infrastructure initiative with efficient production and service capabilities.

(iii) High-Density Polyethylene (HDPE) Duct Manufacturing:

The unit also possesses a modern setup for HDPE Duct manufacturing, with an annual production capacity of 28,000 KM. These ducts are vital components in OFC deployment and contribute significantly to the optical network infrastructure supply chain.

(iv) Switched-Mode Power Supply (SMPS):

The Rae Bareli plant has a well-established facility for manufacturing SMPS systems of various ratings and configurations.

During FY 2024-25, the unit executed AMC services across various BSNL circles and also supplied and provided technical support to the Defense ASCON Project. The revenue earned from AMC-related works during the year amounts to Rs. 43 Lakhs.

NAINI PLANT

I. Performance:

In the FY 2024-25, Naini Plant has achieved the Turnover of Rs. 250.90 crore.

II. Production / Service highlights:

The Naini Plant houses a state-of-the-art manufacturing facility for solar panel production, with an annual manufacturing capacity of 18 MW.

ITI Naini Plant manufactured 10,123 units of 120Wp solar modules, out of which 9,180 units of 120Wp solar modules were supplied to BREDA, amounting to Rs. 3.15 crore.

(ii) Solar Street Light Systems:

?€? ITI has successfully completed the supply and installation of 1,13,488 Solar Street Light Systems under the BREDA Project, with a project value of Rs. 239.78 Cr.

?€? ITI has also undertaken Annual Maintenance Contract (AMC) services for 46,280 Solar Street Light Systems, valued at Rs. 4.42 Cr.

?€? Additionally, ITI Limited, Naini has carried out AMC for 15,480 systems under the Uttarakhand Renewable Energy Development Agency (UREDA) project, worth Rs. 1.38 Cr, for 12W Solar Street Light Systems.

(iii) Solar Power Plant Projects:

?€? ITI successfully completed the supply and installation of a 265KW Solar Power Plant for NTPC, valued at Rs. 0.63 Cr.

?€? 30KW Solar Power Plant was installed at ITI Srinagar, costing Rs. 0.10 Cr.

?€? Under the PM Surya Grah Yojana, 16KW project was executed across four locations, with a total cost of Rs. 0.11 Cr.

(iv) Solar Home Lighting:

?€? ITI Limited, Naini, has executed a work order for 416 Solar Home Lighting Systems valued at Rs. 1.33 Cr. This work was undertaken under the UPNEDA Solar PV Power Pack System (Home Lighting System) initiative.

?€? The scope included Design, Supply, Installation & Commissioning along with 5 years of comprehensive warranty and maintenance of Solar PV Power Packs of 200W with LiFePO4 battery, which includes:

?€? 5 LED lights

?€? 1 DC ceiling fan

?€? 1 25-watt DC power plug with USB port for mobile charging

SRINAGAR

1) Execution of Project:

Srinagar Unit is executing and ensuring the smooth implementation and maintenance of critical communication network in the remote locations of the J&K.

2) Skill Development Center:

This center plays a significant role in upskilling the youth of Kashmir in various fields such as Optical Fibre Cable Laying and Optical Splicing, Data Entry Operator etc. It contributes significantly to skill enhancement of local youth and employment generation in the region.

NETWORK SYSTEMS UNIT (NSU)

(A) BharatNet Project (Phase-I)

1. GPON Supply, I&C and AMC

ITI has received 05 orders worth RS485 Crore from BBNL/BSNL for implementation of the BharatNet project which includes supply,

installation, testing and commissioning, 02-year warranty, and 05-years AMC of GPON equipment.

More than 90% of I&C work has been completed and 04 POs are under the AMC phase. AMC services for this project are being provided by our in-house engineers. Till 31 st March 2025, we have received RS 386 Cr. of the order value from the BSNL.

(B) BharatNet Project (Phase-II)

1. GujNet Project:

The Bharatnet Phase-II Package A "Gujnet" project initiated by BBNL/GFGNL, with an ambition of providing high-speed broadband connection to the uncovered Gram Panchayats of Gujarat, is being executed by ITI Limited with the support of OSP partners finalized through open tender during 2019.

The first part of the project consists of 3925 GPs across the 3 Islands spread over 12 districts / 70 Blocks. Each island has a GPON network connected through optical Fiber Cable/DWDM/ RFMS from GFGNL State Data Center at Gandhinagar, with the Optical Line Terminals (OLT) at Block level and Optical Network Terminals (ONTs) and L2 Switch at Gram Panchayat level.

The second part of the project consists of the operation and maintenance of 3925 GPs along with Add-On GPs (304 GPs) across the 3 Islands spread over 12 districts / 70 Blocks. Island-1 O&M was started in the month of OCT 2020. Further, O&M of remaining blocks was progressively started from Dec- 2020 to Dec-2021. ITI has also received a similar work order for 51 GPs APO and 5 GP scope.

4278 GPs (100%) are lit (Initial Scope of 3925 + 304 APO + 44 APO + 5 APO). The AT for 43 GPs is pending in the main scope and AT for 8 GPs are pending in APO. The pending AT work shall be completed by 30 th September-2025.

2. MahaNet Project

ITI is executing a turnkey project for the provisioning of broadband connectivity across Maharashtra State. This project includes the laying of 20,329 Kms Underground (UG) and 17,841 Km Aerial (OH) OFC, Establishment, Commissioning and Maintenance of a Network comprising IPMPLS (IP Multi-Protocol Label Switching) Routers, Switches, Solar equipment, Microwave radio, Wi-Fi hotspots and Network Operating Centre (NOC). As of 31-032025; T&D work of 18,508 km and aerial OFC laying of around 15,075 Km length has been completed. The Total Project value is around RS 2937 crores including GST.

Further, ITI has received the Operation & Maintenance (O&M) work order for Package A, dated 23.08.2023 for the MahaNet-I (BharatNet -II) Project in Maharashtra, the total value of WO for Package A is RS 267.90 Cr (Excl. of GST) for 3 years including a 1-year warranty.

ITI received the Operation & Maintenance (O&M) work order for Package C on 18-08-2023 for the MahaNet-I (BharatNet-II) Project in Maharashtra, the total value for Package C of the O&M work order is RS 188.25 Cr. (Excl. of GST), the period of O&M is for 3 years which includes a 1-year warranty.

3. TanfiNet Project

ITI is executing a turnkey project for the provisioning of broadband connectivity across Tamil Nadu State. This project includes the laying of 1,924 Km Underground (UG) and 12,703 Km Aerial (OH) OFC. The total Project value including three-year

O&M is around RS 458.24 Crs. As of 31 Mar 2025, T&D work of 1,669 km and aerial OFC laying of around 11,212 Km length has been completed. As on 31 Mar-25, a total value of around RS 250 Cr invoice submitted to Tanfinet against CAPEX amount of RS 371 Cr. Total GP and Blocks LIT UP scope is 3103 GPs and 109 Blocks spread across 10 districts of the southern part of Tamil Nadu, out of which 2596 GPs and 109 Blocks Completed up to 31 Mar-25. In FY 2024-25 We have submitted bills for RS 52.55 Crs and received payment for RS 48.74 Cr with LD of 2.2 Cr. We have also received AT certificate for 799 GPs and 27 Blocks into Block CC and 07 Blocks declared as Go-Live.

4. Andaman & Nicobar Islands

ITI has received an order worth RS 37.27 Crore from BBNL for the implementation of the BharatNet Phase-II project including Supply, Installation, Testing and Commissioning of OFC (underground) and GPoN Network as well as O&M (operation & maintenance) across the Union Territories of Andaman & Nicobar.

The total number of GPs in ITI scope i.e., 75 are lit in 7 blocks. A total order value of RS 27.91 Cr had been executed up to 31-Mar 2025.

We have submitted the invoices RS19.59 Cr against Capex and received RS 15.54 Cr and BBNL deducted LD RS 2.76 Cr & penalty RS 0.21 Cr. Next milestone bill to be raised once exemption from BBNL received.

Project completed now it is under warranty (up to 15/06/2025).

(C) BSNL 4G West Zone: Supply and I&C of RAN

As part of the Atmanirbhar initiative, the Government of India has chosen BSNL for a prestigious project of indigenous 4G telecom equipment to achieve self-reliance in the telecom gear segment to fulfil domestic market needs and in response, ITI has been awarded an RQ order by BSNL vide APO dated 19-05-2023 followed by the circleRSs POs received in June/July 2023.

ITI along with TCS as a consortium partner under Phase IX.2 is executing a turnkey project for provisioning 4G mobile network for BSNL WZ states Maharashtra, Goa, Gujarat, Chhattisgarh, Madhya Pradesh & Mumbai LSA. The project consists of RF planning, engineering, supply, installation, testing, commissioning, integration and annual maintenance of the 4G mobile network at 23633 sites in the west zone. The total project value is approx. RS2685.17 Cr.

As per the delivery schedule mentioned in the tender, the first milestone supplies of 23,633 radio equipmentRSs have been delivered to the respective BA for all 5 circles of the west zone as per the priority sites/list given by the BSNL.

As on date, ITI has supplied 23,633 NoRSs and has completed the Installation of 21,874 NoRSs, Integration - 19583 NoRSs and On Air - 20,792 NoRSs. Also, ITI has billed an appx. amount of RS2390.75 Cr. to BSNL.

(D) Defense Projects:

1. ASCON Phase-IV

The Company has signed a contract with the Ministry of Defense for the execution of the mega order of the Army Static Switched Communication Network (ASCON) Phase IV project worth RS 7,796.39 crore (CAPEX & OPEX). It includes Installation, commissioning, and maintenance of telecom equipment,

NMS, mobile nodes, and civil works for providing the complete infrastructure at various sites and roll-out of the optical fiber network. Contract value has been revised to RS 8,280.36 crore in Nov 2023.

In the network part, the project covers an IP-MPLS-based communication network with microwave radio & satellite spread across northern, northeastern, and western regions. There are a total of 66 MW radio links which includes 4 MW repeater links and 61 satellite nodes which includes 2 hubs. There are a total of 256 static nodes, 10 Zonal Centres and 2 Central Zonal Centres in the network. Furthermore, there are 86 Mobile nodes mounted on 8X8 Tatra vehicles housing the communication and power systems. The implementation of the project is to be completed in three years and thereafter it must be maintained for ten years including a two-year warranty. The project timeline has been revised on ITI request and the Project must be handed over to Army by Dec 2026.

For PoC activities, the test bed is set up in Delhi. The test bed has IPMPLS, Microwave equipment, Satellite equipment, power systems, UNMS and Net Synchronization equipment. As on date, the PoC test trial has been successfully completed for OFC, Microwave Radio, Satellite, Power systems, Network Synchronization, IPMPLS, UNMS and Test Instruments. The PoC test trial of the Mobile Node & Integrated POC is in progress and likely to be completed by Aug 2025.

Under project Rollout survey work on OFC, Equipment Nodes, Microwave, and civil construction are under progress. As on date, out of 166 optical links work is under progress for 146 links and in which AT is completed for 110 links covering 7521 km. The remaining links work is in progress and is likely to be completed by June 2026. Under civil construction, there are a total of 183 buildings (17 new buildings, 51 upgrade buildings, and 115 new infrastructure). Work is in progress for 125 buildings out of 183 buildings. Out of 36 Microwave towers work in 6 towers is completed and in 26 sites work in progress. Project Implementation in Region - 4 is under progress & it will be completed by Aug 2025.

Equipment Delivery and network roll-out is under progress. IPMPLS equipmentRSs were delivered at 32 sites in which JRI of 20 sites is completed. Similarly, 5 type (Qty. 132) of Test Instrument were delivered at sites in which JRI of 4 type (Qty. 82) is completed. Delivery of 27 links (31 sites) microwave Equipment, Two Satellite Hub Antenna system & 79 sites FCBC of Power System is under progress & will be completed by June 2025. Delivery of all subsystem equipmentRSs will be completed by March 26.

2. Airforce Projects

(a) G2G - Upgradation and expansion of AFCEL 3g WCDMA network to 4g LTE / 5g NSA network:

ITI is executing a turnkey project worth RS 233.16 crore for the Indian Air Force for the upgradation and expansion of the AFCEL 3G WCDMA network to 4G LTE/5G NSA network. It includes Installation, commissioning, and warranty of 2 Core Mobile Switching Centre, 4 Access sites and 469 eNodeB/gNodeB RAN sites.

2 Core (Prayagraj & Jaipur) locations and 4 Access (Wadsar, Bengaluru, Barnala, Bagdogra) locations include I & C of Power infra, cloud setup for 4G and 5G NSA core User plane

and Control Plane, security solution for Network and video wall for monitoring of network.

A total of 469 RAN is to be installed at 167 geographical locations across India. 148 sites are existing sites, towers need to be upgraded to eNodeB (4G) and gNodeB (5G), 102 existing sites are to be upgraded to eNodeB (4G) only. 45 sites are newly built Sites (NBS) where the Tower foundation and civil, power works for providing the complete infrastructure have to be done. 100 eNodeB (4G) sites are In Building Solution (IBS) and 74 eNodeB (4G) sites are on Digital Mobile Relay Radio (DMRR) vehicles and operating on 700MHz frequency.

The project also includes Supplying and laying a 200 Km Optical fibre cable with accessories to connect the RAN site to the backhaul network wherever required.

At present, I & C of both core location and four access locations has been completed and Cloud setup is done with testing of 4G and 5G services. Security solution is also deployed and policy implementation work has been completed for NGFW. AT has also been completed at Core and Access locations.

As on date, out of 469 eNodeB/gNodeB 423 RAN sites have been installed and 412 RAN sites are ON Air. AT of 340 RAN sites is completed.

(b) FCI (IAF-1) Project: Upgradation of Ops Application Systems

ITI is executing a turnkey project for the Indian Airforce (IAF) for the Upgradation of Ops Application Systems in which Data Centers at 05 (Five) locations (Delhi, Mumbai, Bengaluru, Prayagraj and Shillong) have to be upgraded with Hyper-Converged Infrastructure (HCI) Technology. The Total Project value including 02 (TWO) years of warranty is RS 269.41 Crs.

The project is completed and is declared Go-live w.e.f. 0110-2023. Presently, the project has been in the warranty phase since 01-10-2023.

3. NFS Project

Network for Spectrum (NFS) is a dedicated communications network. The telecom department (DOT) is setting up this network for the Defence Forces - in lieu of airwaves (Spectrum) to be vacated by Defence for civilian use.

This (NFS) mega network will be deployed with state-of-the- art Optical Fiber Cable (OFC) technology which will form the backbone optical highway infrastructure and serve as a highly resilient and reliable communication media for the Defence sector. Once complete, the state-of-the-art dedicated OFC network for the Army, Navy, and Air Force will enable improved voice and data communication and boost homeland security for the country.

The network is a highly resilient exclusive nationwide optical backbone covering total OFC routes, aggregating 57,015 km. The network will connect 414 Defence sites and access networks (i.e., 219 Army stations, 33 Navy stations & 162 Air Force). The PICG has been created for the planning, operations,

and maintenance requirements of this project on behalf of the Ministry of Defence.

The Defence NFS project consists of a total of approx. 57,015 km of OFC route, is divided into seven packages (A, B, C, D, E, F & G). BSNL, the implementation agency for IndiaRSs Defence NFS (Network for Spectrum) optical fiber cable (OFC) project has awarded Purchase orders for all seven packages. Out of seven packages, BSNL has placed Purchase Orders on ITI Ltd for Package - F and Package- G. ITI Ltd Raebareli has been allocated Package-G. For this Package, BSNL PO value on ITI Ltd is RS1267.30 Cr (Material + Services) + RS 550.56 Cr (AMC for 7 years for maintaining the network once it is laid) covering 7518 Km of OFC laying.

PKG-F: ITI Ltd Mankapur has been allocated Package-F. For this Package, BSNL PO value on ITI Ltd is RS915.75 Cr (Material + Services + Restoration Services) + 322.47 Cr (AMC for 7 years for maintaining the network) covering 5791 Km of OFC laying for 102 Links. 98 links out of 102 links are commissioned in Package-F and turnover for Package F during the current FY: 2324 is 14.7190 Crore and the Un-billed turnover booked in this FY is RS 21.4615 Crore.

PKG-G: As on date execution of 103 Links out of 110 Links has been completed, and the turnover for Package G during the FY: 23-24 (Incl. of GST) is RS 24.75 Cr.

(E) Airtel NLD Orissa:

ITI has received an order worth RS26.73 Crore from Airtel for OFC laying, Trenching, and digging work for the NLD backbone for 824 Km. All work has been completed successfully and got an AT Certificate for 738.94 Km. Billing of RS 23.83 Cr has been done. AT is under progress for the remaining Kms.

(F) USOF Project:

ITI Limited is carrying out the Pilot Project in rural areas of Karnataka state for utilization of BharatNet under the Universal Service Obligation Fund (USOF) to execute indigenously developed technology utilizing E- band and 4G/LTE-based solutions. The purpose of this pilot project is to reap the benefits of innovation and strategy in the private sector, academic & research fraternity for better utilization and improved service delivery to the citizens by utilizing BharatNet. ITI has received a work order of worth RS 39.84 Cr. (Excl. of GST) from USOF. All allotted work has been completed.

MARKETING SERVICES AND PROJECTS (MSP)

The total turnover from the Corporate Marketing unit for the year 2024-25

was Rs. 914 Cr.

The MSP wise turnover breakup is given below:

1. MSP Karnataka

Total performance for the Financial year 2024-25: Rs. 22.19 Cr. MAJOR PROJECTS:

?– Video Conferencing project for OCAC - 6.46 Cr

?– BNG RPOP Phase I - BSNL, Rs.5.4 Cr.

?– ITMS Phase I & II - Odisha Mining Corporation Ltd, Rs. 3.81 Cr.

?– ITMS Phase III - Odisha Mining Corporation Ltd, Rs. 0.15 Cr.

?– OFC Laying 1,2 & 3 - Southern Railway, Rs. 2 Cr.

?– E-tendering, Rs. 1.62 Cr.

?– OFC Work - TPCODL, Rs. 0.5 Cr.

?– BNPM LAN Upgradation project - 5.08 Cr

2. MSP Delhi

Total performance achieved for the financial year 2024-2025: : Rs 73.49cr MAJOR PROJECTS:

?– Integrated University Management System

?– CCTV AMC

?– Computer Based Test

?– Audio Visual Setup

?– Skill Development

?– etendering e-auction

3. MSP -Ahmedabad

Total performance achieved for the financial year 2024-2025: Rs. 69.28 Cr MAJOR PROJECTS:

?– GIDC, Gujarat State for setting up of ICCC and LED display boards at SANAND and BHARUCH Districts.

4. MSP Kolkata

Total performance achieved for the financial year 2024-2025: Rs.61.95 Crores

MAJOR PROJECTS:

?– Design, Development, Implementation & Maintenance of IFMIS Solution for Finance Department, Govt. of Mizoram:

?– Turnover achieved - Rs.5.86 Crore

?– Design, supply, installation, testing and commissioning of IP Based CCTV Surveillance System along with associated works at Depot/Terminals, LPG plants and AFS under Indian Oil-AOD State Office:

?– Turnover achieved - Rs.5.25 Crore

?– Deployment of Resources at various Government Health Institutions across the State of Odisha for Implementation of OeHMIS project:

?– Turnover achieved - Rs.10.85 Crore

?– GPS Based Vehicle Tracking System for Assembly/Lok Sobha Elections of MP Assam, Uttarakhand & Punjab:

?– Turnover achieved - more than Rs.17 Crore in four states

?– Replacement of Existing SDH Transport Network with IP-MPLS based Network for Unified Communication Backbone over All Division of East Central Railway:

?– Turnover achieved - Rs.20.60 Crore

?– Deployment of approx. 780 Technicians, Admin staffs & Housekeeping staffs at AIIMS, Kalyani:

Turnover achieved - Rs.5.87 Crore

5. MSP Lucknow

Total performance achieved for the financial year 2024-2025: - Rs.250.00 Cr

MAJOR PROJECTS:

Pl find top 3 projects undertaken by MSP Lucknow in FY 202425:

?– UKBOCW Toolkit - Supply of toolkits - Project Value Rs.160 Cr

?– UK Mining - Development and maintenance of Mining Digital Transformation & Surveillance System, Uttarakhand - Project Value Rs.94.53

?– UKSWAN - Providing facility management services for the Uttarakhand State Wide Area Network (UKSWAN) by ensuring the smooth operation and maintenance of network infrastructure at all State, District, Block Headquarters in the Government Departments of Uttarakhand - Project Value Rs.52 Cr

6. MSP Chandigarh

Total performance achieved for the financial year 2024-2025: 19.72 Cr

MAJOR PROJECTS:

?– WEBCASTING AND STREAMING OF EVENTS ON POLL DAY FOR LOK SABHA AND BYEELECTIONS in Himachal Pradesh Value 7.26 Cr

7. MSP - Mumbai

Total performance achieved for the financial year 2024-2025: 385.03Cr

MAJOR PROJECTS:

?– SWM (ICT WASTE MANAGEMENT)

?– CCTV/ LED Ahmedabad GUJRAT

?– FMS-SERVICE

?– CIVIL BOUNDRY WALL

?– BMC- SITC- E BOOK

?– PACS

?– WEBCASTING

8. MSP Hyderabad

Total performance achieved for the financial year 2024-2025: 2.37 CR

MAJOR PROJECTS:

?– CCMS by EESL- Order value is 11.6 Cr

?– BBNMS by BSNL -Order value is 44Cr

?– SOLAR PANEL by MEDA- Order value is 3.4 Cr

?– STM Project by Southern Railway- order value is 100 Cr

9. MSP Chennai

Total performance achieved for the financial year 2024-2025: 22.24 Cr

MAJOR PROJECTS:

?– Supply, Installation, Testing and commissioning of Video Surveillance System at 31 stations in chennai central-Jolarpettai and Arakkonam to Renigunta section of Chennai Division (Reach- III)-order value- 17.833 Cr

?– Design, supply, installation, testing and commissioning of IP Based CCTV Surveillance System along with associated works at our Operating Locations, AFS and LPG Plants under Tamil Nadu State Office- order value- 5.99 Cr

?– Supply, Installation, Commissioning, Maintenance of FTTH based Wi-Fi System on turnkey basis in Hostel Zones, Guest Houses, Administration Building, Students Activity Centre. Zone-A -NIT Trichy- order value 0.63Cr

?– Development of Integrated command & control centre at kamarajar port Limited,Chennai- order value 16.57 Cr

10. MSP Guwahati

Total performance achieved for the financial year 2024-2025: Nil

MAJOR PROJECTS: Nil

11. MSP Bhopal

Total performance achieved for the financial year 2024-2025: Nil

MAJOR PROJECTS: Nil

12. MSP Trivandrum

Total performance achieved for the financial year 2024-2025: Nil

MAJOR PROJECTS: Nil Markets served as entity:

a) Number of Locations

b) What is the contribution of exports as a percentage of the total turnover of the entityRS Nil

c) A brief on type of customers:

The following are the Customers of ITI for supply of various Products,

Services and Turnkey Products.

?€? Army, Navy, Indian Air Force and Ministry of Home Affairs

?€? PSU like BSNL (Bharat Sanchar Nigam Limited), MTNL (Mahanagar Telephone Nigam Limited),BBNL (Bharat Broadband Network Limited),EESL (Energy Efficiency Services Limited), C-Dot (Centre for Development of Telematics),BEL (Bharat Electronics),NTPC(National Thermal Power corporation)

?€? Central Governmentand State Governmentorganizationslike OPTCL (Odisha Power Transmission Corporation Limited),TANFINET (Tamilnadu Fibrenet Corporation Limited),MITCL (Maharashtra Information Technology Corporation Ltd),JCNL (Jharkhand Communication Network Limited)GFGNL (Gujarat Fibre Grid Network Limited),KSEDC (Karnataka State Development Council), KITE (Kerala Infrastructure and Technology for Education), UREDA (Uttarakhand Renewable Energy Development Agency), BREDA (Bihar Renewable Energy Development Agency), UPNEDA (Uttar Pradesh New& Renewable Energy Development Agency).

?€? Department Of Post, DoS (Department Of Space), DoAE (Deapartment6 of Atomic Energy), Railways.

?€? Private customers like Banks,Schools,Universities,Hospitals, TCS,Tejas Networks,RIIL(Rural Infratel International Limited),Aksnett,Keltron,Vodafone,Airtel.

1. EFFORTS UNDERTAKEN BY CORPORATE MARKETING DURING

YEAR 2024-25:

As part of marketing activities, ITI through Corporate Marketing &

MSPs is addressing all the major business opportunities in Telecom,

ICT, IT/ITeS, loT, Defense, Software solutions, Smart Solutions, CCTV Surveillance, Geo fencing, etc.

?€? Submitted proposals to potential customers for Noida Safe City, Electric contract work at various locations of M/s Tata Projects.

?€? Participated in major tenders like BSNL Bharatnet Phase III, BSNL OLT, BSNL ONT, BSNL SDWAN, BSNL IE, EOI for PPDR

?€? Participated the RDSO RFP for LTE 4G and got offer from RDSO for Trials of 4G LTE-R systems in 500RKM in SCR in trial section Ex. Secunderabad(SC) to Bibinagar(BN) in Secunderabad- Raghunathpalli (SC-RGP) section and in trial section Ex. Lingampalli(LPI) toGullaguda (GGD) in Secunderabad-Vikarabad- Bidar (SC-VKB-BIDR) section- Received order of 5 Cr under execution.

?€? Received Bharatnet Ph-III Orders (Design, Supply, Construction, Installation, Upgradation, Operation and Maintenance of middle mile network of Bharatnet, in the Himachal Pradesh Telecom Circle West Bengal and Andaman & Nicobar Telecom Circles & NER-II (Arunachal Pradesh, Nagaland and Manipur) Telecom Circle and the projects are under execution

?€? Exploring new business opportunities through tenders and allotment of tenders to concerned MSPs and units.

?€? Approximately 280 vendors have been Empanelled in various category.

?€? Attended 13 th Strategic Electronics Summit (SES) - Defence & Aerospace" - 17&18, July 2024, Bengaluru

?€? Presentation was conducted over VC for all MSPs on the following projects/products:

?€? Integrated Traffic Management System, Vehicle tracking system, CCTV Surveillance, Smart classroom, Virtual Class Room, LED Display System, SDWAN, Networking.

RATING IN MEMORANDUM OF UNDERSTANDING:

During Inter-Ministerial Committee (IMC) meeting held on 28 th June 2023,

IMC recommended to exempt ITI Limited from signing of MoU for FY 202324 and 2024-25.

FUTURE OUTLOOK

The Company has undertaken many initiatives/ projects to boost the

turnover and implement the Revival plan.

A. SD-WAN (Software Defined Wide Area Network) Solution

The software-defined wide area network market is poised to record a growth rate of more than 30% from 2022 to 2032. Gartner predicts the Indian SDWAN market will reach INR 2763 Crore by 2025. The increased demand for mobility services, as well as the rising emphasis of enterprises on lowering OPEX with SD-WAN, are expected to foster the software-defined wide area network (SD-WAN) market growth to a considerable extent.

ITI is in the process of selecting a suitable partner for the manufacturing of SDWAN products and solutions. PARTNER will be assisting ITI in setting up the production lines, designing, manufacturing, and testing the SDWAN solutions for the customers. A Capex investment of Rs. 5Cr is proposed for setting up the manufacturing and solution Infrastructure of the complete SD-WAN Solution in ITI.

B. BharatNet Project

ITI Limited is executing BharatNet Phase-3 Projects in Himachal Pradesh, West Bengal, and Andaman & Nicobar Islands, and North East states comprising Arunachal Pradesh, Nagaland, and Manipur. ITI Limited has signed an Agreement with BSNL for these three Pack

ages (8,9, &15) for the execution of the project worth Rs. 6956 Crores. The BharatNet Phase-3 Project is divided into 16 Packages spread across the country for Design, Supply, Construction, Installation, Upgradation, Operation, and Maintenance of the middle-mile network comprising IP MPLS technology on a Design, Build, Operate and Maintain (DBOM) Model. Project execution is in progress.

C. Manufacturing of Multipost EVM:

An Electronic Voting Machine (EVM) is an electronic device designed to record and count votes in elections. EVMs are used to streamline the voting process, reduce errors, and increase efficiency.

The global electronic voting market size was valued at USD 1.1 billion in 2020 and is expected to grow at a CAGR of 9.5% from 2021 to 2028. India has been a pioneer in using EVMs, with a large market size driven by government elections. The Indian EVM market is expected to continue growing, driven by ongoing electoral reforms and technological advancements.

ITI has developed Multipost (S3-EVM) as per the specifications finalized by SEC/TEC and approved by the standing committee of State Election Commissioners (SECs). These Multipost EVMs can be used for conducting local body elections at Gram Panchayats, Municipal Corporations, or other institutions for conducting elections fairly. ITI has been authorized by the SECs to supply EVMs for the State Election CommissionRSs requirement, depending upon the particular state requirement. Demonstration of Multi Post EVM completed for 13 State Election Commissions, and demo to the remaining State Election Commissions is in progress.

ITI received its first order of 500 EVM Control Units & Ballot Units from the State Election Commission of West Bengal, and manufacturing is in progress in the Bengaluru plant.

D. Implementation of Mono Crystalline (PERC) Solar Module Manufacturing facility 500 MW

The government has a very ambitious plan for the indigenous solar PV manufacturing ecosystem. In 2020, India adopted the RSNational Programme on high efficiency solar PV modulesRS for achieving a manufacturing capacity of gigawatt (GW) scale in high efficiency solar PV modules. The mission aims to promote the manufacturing of high-efficiency solar PV modules in India and thus reduce import dependence in the area of renewable energy.

Over the past five years, India has made substantial progress in solar manufacturing. Solar module manufacturing capacity has tripled from 5.8GW in 2016 to about 39 GW in December 2022, and it is further expected to reach 110 GW by 2026.

Due to the advantages of High efficiency and less power degradation, the monocrystalline solar modules made with Mono PERC Solar Cell technology are being widely used in utility-scale solar projects and residential purposes. PERC solar panels can be used as regular rooftop photovoltaics, EV solar roof chargers, and solar sheds. Building Integrated Photo-voltaics (BIPV), water surface power stations, and much more.

ITI is planning to implement a 500 MW Solar Module in-house manufacturing facility with High Efficiency Mono Crystalline Solar Cell with an investment of Rs. 80 Cr in the year 2024-25.

E. 4G RAN Manufacturing

ITI Limited has bagged a Purchase Order (PO) from BSNL worth Rs 2421.49 Crores for its 4G rollout under Reservation Quota (RQ) Order in the West Zone. The scope of work includes Planning, Engineering, Supply, Installation, Testing, Commissioning, integration, and annual maintenance of 4G Mobile Network for 23,633 sites in the West Zone

of BSNL Network. ITI has upgraded the manufacturing infrastructure for mass manufacturing of 4G and future technology products. Currently, ITI is manufacturing RRU (Remote Radio Unit), BBU (Base Band Unit), and ODC (Outdoor Cabinet) to supply against the BSNL RQ Order. The production of 4G RAN for this order (23k+ manufactured under ToT from Tejas) has been completed, and the units are under different phases of Installation and commissioning in the BSNL network. Awaiting orders for 20% of Saturation Sites.

ITI has also entered into a Transfer of Technology with CDOT for the manufacturing of 4G LTE RAN to be deployed for the BSNL network. ITI has received a Purchase order for Technological trials of indigenous 4G RAN from BSNL. ITI is also manufacturing Radio units for deployment in the Railway network in Secunderabad region. ITI is also exploring export opportunities of 4G RAN

F. Multi-Service Platform (MSP)/ Security Operation Centre (SOC):

ITI has set up a Multiservice Platform/Security Operation Centre (SOC) in its Data Centre in Bengaluru. Various IT and security services like Identity Access Management, Email Security, Data Loss Prevention, Distributed Denial of Service (DDOS) Mitigation, Network Access Control, Endpoint Protection, Detection & Remediation, SIEM (Security Incident and Event Management), and Threat Intelligence & Advisory would be provided to various clients to fulfill their network security requirements. ITI is exploring providing cybersecurity services through suitable partner.

G. Major R&D initiatives taken by the company:

Research & Development (R&D) located in the Bengaluru plant is designing & developing Communication Equipment to support manufacturing and keep abreast of State of technologies in the field of Electronics & Communications. R&D has core strength in design & development of Encryption systems to secure Communication Networks and also in development of Network solutions & other diversified products like EVM, DMR, SEM, etc. The necessary infrastructure to aid design & development is available in the form of Test Instruments, Software design tools, CAD design tools, Reliability lab, EMI/EMC test lab, and Telecom testing lab.

In the Financial year 2024-25, R&D was involved in development/ upgradation/Initial Field Trial/Training activities of the following Projects.

The following projects are undergoing in the year 2024-25:

a. Encryption Systems for Defence & Paramilitary forces like PMO- DCN, Air Force, Eastern command, ITBP IB-MHA, etc. (Ongoing)

b. Network solutions for Communication Network; NFS & ASCON P4. (On-going)

c. Development of Encryption Algorithms. (Spare algorithms being developed)

d. Getting the CPC approval for crypto products with proprietary Algorithms (On-going)

e. Support for legacy secrecy products supplied and networks executed to Defence. (On-going)

f. Design and development of Power supply modules

g. Electronic Voting Machine (EVM) (Prototype development completed and demonstrated to the SECs of 13 states of India. To be fine-tuned as per the customerRSs requirement)

h. Digital Mobile Radio (DMR) System (VHF/UHF handheld, Base station & Repeater, along with NMS prototype development and fine tuning is in progress)

i. Smart Energy Meter (SEM) (Prototype development completed & testing is in progress)

j. Integrated TESD (Upgradation of TESD) (Prototype development is in the final stage)

k. VHP (Versatile Hardware Platform) (Prototype development in progress)

l. FCE (Field Cipher Equipment) MK II for Army (Prototype development in progress)

m. E1 Encryptor for Eastern Command (Army) (equipment supplied and algorithm evaluation with SAG is in progress)

n. Initiation of HF Man-pack (SDR) (Initial study phase).

o. As per the PMO-DCN requirement, initiated the design and development of the encryption system NGN/Flexi EDU-IP

H. SMAASH PC and Laptops:

ITIRSs Smaash-branded Mini PCs have strengthened their presence in the market through technological upgrades, incorporating newer generation processors. These compact computers, known for their energy efficiency and small form factor, are complemented by the Smart Power Station, a green energy solution that functions as a UPS and accepts power from both solar and grid sources. This innovative combination allows for minimal grid reliance and significant energy savings. Furthermore, these devices hold international certifications such as CE, FCC, RoHS, BIS, and Energy Star.

ITI has ventured into the field of manufacturing and marketing of laptops and has hosted two models, namely ITIB14LI5 / ITIB15LI5, in the GEM portal. Both these models are duly certified by BIS, ROHS, CE, BEE, and FCC.

ITI Limited, Palakkad unit, has received Purchase Orders from Kerala Infrastructure and Technology for Education (KITE), Kerala State Electronics Development Corporation (KSEDC), and others for the supply of more than 9500 Nos of ITI-made laptops.

I. High-Capacity Radio Relay (HCRR)

High-Capacity Radio Relay (HCRR) systems are advanced communication technologies that enable high-speed data transmission over long distances. HereRSs an overview of HCRR systems.

HCRR systems provide long-distance connectivity, bridging communication gaps in remote or underserved areas. HCRR systems enable fast data transmission, supporting applications that require high bandwidth and low latency.

ITI is in the process of selecting of Technology partner for the manufacturing of the HCRR system.

J. Indian Regional Navigational Satellite System (IRNSS)

The Indian Regional Navigation Satellite System (IRNSS), also known as NavIC (Navigation with Indian Constellation), is a regional navigation satellite system developed by India. IRNSS can be used for navigation in various modes of transportation. IRNSS can aid in locating damaged areas and safe areas to provide a quick rescue solution. IRNSS can be used for tracking and managing vehicles and fleets. IRNSS signals can be integrated with mobile phones for various applications. IRNSS provides precise timing information.

ITI is in the process of selecting of Technology partner for the manufacturing of the IRNSS system.

K. Data Centre and IT Business:

The ITI Bengaluru unit has expanded the Data Center with more than 1000 rack capacity. ITI Data Centre is MeitY empanelled cloud service provider & audited by Standardisation Testing and Quality Certification (STQC) for services including Government Community Cloud-(GCC) (Caged services), public cloud & private cloud. The Data Centre facility

has Tier III certification, i.e., ANSI/TIA-942-B. The TIA-942 Certification Program enables data centres to be reviewed and certified for conformity to the requirements of the globally-recognized ANSI/TIA-942 standard, providing greater assurance to customers and stakeholders. ITI Data Center is CMMi level 3 certified, ISO certified under various categories, viz. ISO 20000-1:2011, ISO 27001:2013, ISO 27017: 2015 & ISO 27018:2019.

ITI Data Center has the capability to offer a wide spectrum of service portfolios, including high-density hosting services, Cloud services, Managed security services, on-demand services, Professional services, Security Operations Centre (SoC), and Managed IT services. ITI has signed an mOu with BSNL for providing Data Centre service to its Enterprise and Government clients.

L. Telecom Testing Lab:

As per the guidelines issued by DoT for Mandatory Testing and Certification of Telecom Equipment (MTCTE), all telecom equipment must undergo mandatory testing and certification before sale, import, or use in India.

NABL Accreditation was awarded to ITIRSs EMC Lab first time on 27.08.2021, valid till 26.08.2023. The EMC Lab has been upgraded to test MIL systems according to MIL 461 E/F/G standards, which is expected to generate more business in FY 2023-24. Designation of ITI EMI/EMC Lab for CAB (Conformity Assessment Body) status obtained from TEC Delhi on 17-12-2021, valid till 16.12.2024.

M. Start-up hub:

ITI has always been the front-runner in the nation-building and implementation of the Government of IndiaRSs policies. With a vision to contribute to the Start-up India mission of the Government of India, ITI is in the process of establishing a 1000-seater Start-up hub in a phased manner at the ITI Bengaluru plant for encouraging start-ups in the country. ITIRSs vision for the Start-up hub is to help Start-ups convert their Innovations to Pilot Products quickly through Rapid Prototyping facilities under one roof. These Startups are working in the field of development Drones for Agriculture, Defence and Public announcement, captive 4G and 5G solutions Digital Mobile Radio, High Capacity Radio Link and Unlicensed Band Radios, Electronic Warfare, Anti-Drone technologies and Radar based devices, design, development and manufacture of Charge Control Unit (CCU) and Remote Monitoring System for Solar Street Lights, RF Antenna system for Defence Testing.

Our objective is to manufacture Successful products in-house and market them. 168-seater start-up hub, along with Amenities like a dedicated corporate hub meeting room, demo room, and highly secure Wi-Fi connectivity, is functional.

N. Manufacturing of Digital Mobile Radio (DMR)

Digital mobile radio DMR is an open standard for digital mobile radio communications, designed to provide secure, efficient, and reliable communication for businesses, public safety agencies, and industries. The global market size for Portable DMR Repeaters was valued at approximately USD 1.25 billion in 2023 and is projected to reach around USD 2.7 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.

As a Part of the Prime MinisterRSs Atma Nirbhar Scheme, ITI has developed DMR in the VHF & UHF bands. These radios have been developed along with base stations and Repeater stations as a replacement for Motorola/Kenwood radio sets, which are currently being imported. These digital radios will have widespread usage with the Armed Forces, CAPFs, Railways, and various other Government agencies. The radio sets will also have built-in SAG-approved Grade 4 necessary for use by the Armed Forces. ITI has completed the demonstration of the

VHF DMR Hand Held Radio to Indian Railways, and upgradation is in progress for observations raised by the Customer.

CONTRIBUTION TO EXCHEQUER

During the year, your Company has contributed Rs.288.61 Crore to the Exchequer towards duties and taxes.

PUBLIC DEPOSIT

The Company did not accept any deposits during the year 2024-25. CREDIT RATING

Details of all credit ratings obtained by the entity along with any revisions thereto during the relevant financial year, for all debt instruments of such entity or any fixed deposit programme or any scheme or proposal of the listed entity involving mobilization of funds, whether in India or abroad:

During the year under review, the Company had obtained following credit ratings w.r.t. working capital facilities availed from Banks:

JOINT VENTURES

INDIA SATCOM LIMITED (ISL)

India Satcom Limited (ISL) is a joint venture between Chris Tech Systems Pvt. Ltd. and ITI Limited, with Chris Tech Systems Pvt. Ltd. holding a 51% equity stake and the remaining equity held by ITI Limited.

India Satcom Limited (ISL) has executed a Joint Development Agreement to develop its own immovable property into a world-class Software Technology Park, titled "Silicon Forest." The master plan, designed by Pei Cobb Freed & Partners, USA, an internationally acclaimed architectural firm, adheres to the stringent standards required for the IGBC Core and Shell Gold Certification, reflecting ISLs commitment to sustainable and eco-friendly development.

All key statutory and regulatory approvals from the Government of Karnataka, the Environment Impact Assessment Authority, Pollution Control Board, Fire and Emergency Services Department, Airports Authority of India, BESCOM, BWSSB, HAL and BSNL have been obtained. Construction will commence shortly upon receipt of the final plan sanction, marking a significant milestone in ISLs growth and infrastructure development.

ISL has developed "SatPAY," a state-of-the-art payment aggregator software equipped with AI-driven customer support and advanced features such as fraud detection. The company is in the process of obtaining the requisite Government licenses and will offer SatPAY as a SaaS platform to Government and Private enterprises for seamless online payment integration. ISL has

successfully secured software export orders, thereby strengthening its global business presence.

These initiatives are expected to generate employment for around 1,000 people and create infrastructure to support 25,000 software professionals. ISLs net worth is projected to exceed RS1,500 crore within the next few years.

There was no Company which became or ceased to be subsidiary, joint venture or associate of the Company during the year under review.

The salient features of the Financial Statement of Joint Venture Company are furnished in form AOC-1 which is appended to this report as Annexure 1.

QUALITY

ITI Limited is always committed to Quality and we understand that Quality encompasses all functions.

Conscious of the importance of the quality, since the very beginning of its incorporation, the company has introduced many quality procedures and practices and has established various Quality Management Systems and necessary infrastructure over the years.

The Company has created the required Infrastructure by establishing state-of-the-art test facilities like environment test chambers, high altitude test facilities, bump & vibration test facilities, calibration facilities for electronic test instruments, EMI / EMC test facilities, etc. Facilities for Highly Accelerated Life Testing (HALT), Highly Accelerated Stress Screening (HASS) and combined environmental testing have been established for enhancing product reliability. Around two Labs have been accredited by NABL.

Requisite competency on various aspects of quality and reliability has been built by imparting training to the employees every year for ISO under ongoing competency development programme.

Efforts are paying benefits to the Company in many ways like improving our processes, reducing costs and improving profitability, enhancing customer satisfaction and earning goodwill, trust and reputation. With all these infrastructure in place along with necessary available competency and very high level of quality awareness within the company we are poised to comfortably meet any forthcoming challenge on this front in future. The Company is continuously following all the methods & procedures for maintaining the Quality in all spheres.

ITI Units are certified for ISO based Quality Management Systems i.e ISO 9001:2015, ISO 14001:2015 Environment Management System and ISO 45001 Occupational Health and Safety Management.

NABL Accreditation in compliance with IS/IEC 17025:2017 for Smart Energy Meter LAB ID C-1509 Certificate No.CC-3210 desktop surveillance audit conducted on 18/03/2024, validity extended up to 09/03/2025. NABL Accreditation renewal process is underway.

TSEC (Technical Specification Evaluation Certificate Issued by QA of BSNL) for

?€? Radio Modem in ISM Band (Type B)

?€? Permanently Lubricated HDPE Telecom Ducts

?€? Executive Telephone System

?€? Optical Fibre Cable ( various Types )

?€? Fiber Distribution Management System Type-III-B

?€? Electronic Telephone Instrument with CLIP & Two way speaker feature(Type-I)

BIS (Bureau of Indian Standards) Certification for

?€? Smart Energy Meter

?€? Crystalline Silicon Photovoltaic (PV) Modules

?€? Smaash PC

?€? Laptops

IEC (International Electro-Technical Commission) certificate for "Solar PV Module"

TEC (Telecommunication Engineering Centre) Type Approval certificate

for EMI / EMC Lab at Bengaluru Plant

NABL Certification

?€? EMI/EMC Lab at Bengaluru Plant

?€? Smart Energy Meter Calibration Laboratory at Palakkad Plant

Accreditation of VSSC (Vikram Sarabai Space Centre, Trivandrum) for Component Screening, Test & Evaluation, Assembly & Testing of flight Packages.

Environmental Protection and Conservation:

The CompanyRSs Units are spread across the Country at different locations viz. Bengaluru, Mankapur, Rae Bareli, Naini, Palakkad and Srinagar. Environment Protection & Management of the Units is governed by various Acts & Rules like The Environment (Protection) Act, 1986, The Air (Prevention and Control of Pollution) Act, 1981, The Water (Prevention and Control of Pollution) Act, 1974, Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2016, The Solid Wastes Management Rules, 2016, etc. All the Units comply with the applicable Acts and Rules.

MANPOWER

The Company recognizes the importance and contribution of its Human Resource in providing the competitive advantages. It emphasizes on upgrading the skills and capabilities of its employees to improve their productivity. The company is conducting training and workshops in new and strategic areas, so that its employees are ready to face challenges in the coming years. HR initiatives are focused on developing team spirits, employeeRSs empowerment and their involvement in various activities. All HR efforts are in alignment with the business priorities and with an objective of smooth transition to latest Technology.

EMPLOYEES STRENGTH

?€? Employee Strength at the end of FY 24 - 25 i.e., 31 st March 2025 was 1368, out of which 322 employees were female.

?€? As on 31.03.2025, there were 223 Employees belonging to SC Category, 38 Employees belonging to ST Category and 298 Employees belonging to OBC Category.

?€? 10 Employees on Tenure / Contract basis, 5 Young Professionals were recruited during FY 2024-25.

?€? There were 11 Employees belonging to PwBD categories and 12 employees belonging to Ex Servicemen category, on the rolls of the Company at the end of FY 2024-25.

INDUSTRIAL RELATIONS

ITI has glorious tradition of building and maintaining conducive employee - employer relationship environment. The Industrial relation scenario in the Company was cordial throughout the year. Employees Union and Officer Association extended their co-operation and support in ensuring smooth work flow and helped to meet the CompanyRSs Objectives.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

As per the requirement of Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act 2013, and Rules made there under, Company has constituted Internal Complaints Committees (ICC) to redress complaints received regarding Sexual Harassment at all Units. All Employees (Regular, Contract, Temporary, Trainees) are covered under this Policy. Company has complied with the provisions relating to the constitution of ICC and during the year no cases / complaints have been filed under the Act.

DEVELOPING EMPLOYEES CAPABILITIES & COMPETENCIES

ITI Limited recognizes the importance of employee development by improving their skills and competencies, equipping them to handle future challenges successfully.

HUMAN RESOURCES EMPLOYEE DEVELOPMENT:

i) Training & Development:

In todayRSs fast-paced era of globalization, where technology is advancing rapidly, it is essential for organizations to acquire relevant skills and knowledge. To effectively tackle emerging challenges, organizations are placing significant emphasis on developing new talent, enhancing existing capabilities, and building overall capacity. A well-trained workforce is the cornerstone of business success, with skills and knowledge serving as key drivers of the companyRSs growth and long-term sustainability.

The main challenge for the organization right now is a shortage of skilled personnel, largely due to the attrition of trained and experienced employees. The HR Department meticulously designs training and development programmes, leading to improvements/overcoming the difficult circumstances and the lack of the required set of skills. ITI Limited has adopted a strategy that prioritizes employee training, development, and capacity building through a systematic and need based planning approach that includes identifying training needs, creating and customizing training courses etc.

Learning is a core value at ITI Limited. Acknowledging the importance of building capabilities for both current and future roles, the organization has established comprehensive training facilities through Employee Development Centers (EDCs) at all its plants - Bengaluru, Palakkad, Mankapur, Rae Bareli, and Naini. The Learning and Development function is dedicated to equipping employees with the necessary skills in technology, business understanding, and leadership to meet future challenges. Training is delivered through multiple modes, including classroom sessions, online platforms (web- based and video conferencing), and e-learning, with an increasing focus on technology-driven platforms.

With a strong focus on aligning with the CompanyRSs business objectives, the organization emphasizes employee-centric skill development in both technological and managerial areas, as well as in customer relations and quality. The Company is committed to enhancing skills in emerging telecom technologies by actively engaging with key institutions such as the National Center for Communications Security (NCCS), DoT, Ministry of Statistics & Programme Implementation (MoSPI), National Communications Academy - Finance, Department of Public Enterprises (DPE), Centre for Development of Advanced Computing (C-DAC), CSI-Bengaluru Chapter, SIG-Formal Methods of the Computer Society of India, and Indian Institute of Material Management (IIMM) etc. In addition, the Company has accelerated HR learning interventions and employee development initiatives to support this growth.

Employees get regular access to enhance the skills/knowledge on areas like new technology/general training courses such as AI Powered Defence, Internet of Things (IoT), Cyber Security, Essentials of Telecom Security Testing, Telecommunications Standardization Awareness Workshop, RTI Act, e-Governance, Government E-Marketplace (GeM) Procurement, POSH Act, LTC Rules, Preventive Vigilance, Best Practices in Supply Chain Management etc.

In order to develop and improve their abilities, knowledge, attitude, and exposure to new technology, in total 89 programmes were organized/ coordinated and 1460 employees (approx., 639 employees have attended one or more programmes) have been trained during the FY 2024-25. ITI Officials have been nominated for external training programmes, workshops and webinars organized by various Governmental organizations/private institutions in the most important fields. These training programs help the people cultivate their capacity for managing change, their innovative methods, their ability to think critically, and their positive outlook on creating a high-performance work culture.

In a nutshell, in respect of Employee Development - training performance of ITI Limited during the FY 2024-25 is as follows:

Note: IH-In House, EN: External Nomination

In addition, the iGOT (Integrated Government Online Training) Karmayogi platform was launched by the Indian government as part of the National Programme for Civil Services Capacity Building - Mission Karmayogi. This platform integrates five core functional areas: Online Learning, Competency Management, Career Management, Discussions and Networking.

ITI employees have taken online trainings to improve their knowledge and skills on various topics under iGoT Karmayogi Platform. Total 2154 (Unique 141) Officials have completed one or more trainings during the FY 2024-25.

Talent Development:

At ITI Limited, we are committed to the holistic development of our employees, recognizing that nurturing our talent is as important as advancing our products. We firmly believe that supporting our employee through comprehensive training and development programs is essential to equip them with insights into the latest global trends in technology and innovation, thereby giving them an edge in both their personal and professional growth.

A person can establish themselves as an expert in a specific profession by developing strong skills and knowledge. A skill refers to the ability to effectively carry out a task at work. When employees have the right skills to complete their duties, their performance improves. Training programs play a key role in helping employees improve these skills. Training involves re-educating and updating employees when new technologies, techniques, or systems are implemented to ensure they fulfil the particular demands of their roles. Moreover, professional development activities can support employees in advancing their careers.

ii) Skill Development and Capacity Building:

Skill Development training is an initiative taken by Central Government to enhance the employability of unemployed people or school drop outs by giving training in the emerging or the prospective areas of employment. Skill Development is significant in the overall development of a student/ individual. Personal development & learning skills will not only increase the opportunities but will also empower an individual. Skills like communication go a long way in aiding the overall development of students/trainees. Skill development trainings provide significant benefits such as increased employment opportunities, enhanced career development prospects, personal growth, greater knowledge and understanding of the local industry.

As a part of RSSkill IndiaRS Flagship program, ITI Limited started imparting Skill Development and Capacity Building trainings at Six training centers of ITI. The Company not only develops the skill sets of its own employees by imparting training through its HR-Employee Development Centers located at Units (i.e., Bengaluru Plant, Palakkad Plant, Rae Bareli Plant, Mankapur Plant, Naini Plant and Srinagar Plant) but also offer training and education to young individuals through Apprenticeship training, In-plant/project training etc.

The Company is actively involved in imparting Skill Development training in collaboration with the Electronics Sector Skills Council of India (ESSCI), 46 students have successfully completed training in various module/job roles. ITI is also engaging and imparting training to Graduate Engineers, Diploma (Technicians) and ITI Trade Apprentices in various trades under the ApprenticesRS Act / National Apprentices Promotion Scheme (NAPS).

In addition, as a part of capacity building, the Company is imparting training to the students of Engineering / Management to carry out their Internship/ In-plant, Project and Adoption of ITI (Specialized Industrial Trainings) and Industrial Visit etc.

The number of participants trained/imparted Capacity building/Skill Development training during the FY 2024-25:

IMPLEMENTATION OF OFFICIAL LANGUAGE ACT, 1963

All Units/Marketing services and Projects ("MSP") have established "Check-Points" in their departments to make effective implementation of the Official Language Policy. Monitoring is being done by the respective Official Language Implementation Committee constituted in every Unit/MSP

The Progress of Implementation of Official Language in corporation office as well as in all subordinate Units/MSP is being periodically reviewed by the OLIC of corporate office.

Units/MSP at Naini, Rae Bareli, Mankapur, New Delhi, Mumbai, Lucknow,Hyderabad & Corporate Office have been notified in the Gazette

of Government of India under the OL Rules 10(2) & (4), 1976 after more than eighty percent (80%) of the staff working knowledge of Hindi in these Units/MSP

ITI Limited, Corporate Office is regularly sending the Quarterly Progressive Report to the Ministry of Communication, Department of Telecommunication, New Delhi as well as Dy. Director (Implementation), Regional Implementation Office, Bengaluru. We have also sent Half Yearly Hindi Progress report to Secretary, Town Official Language Implementation Committee (Undertaking), Bengaluru and Annual Assessment Report to Ministry of Communication, Department of Telecommunication, New Delhi. After reviewing our quarterly report & Annual report Corporate Office has been receiving appreciation letter for the last one year from Deputy Director (Implementation), Regional Implementation Office, Bengaluru.

On 11 November, 2024, Shri. Jitender Kumar Arya, Joint Director (OL) & Shri Rajesh Ranjan, Senior Translation Officer, Ministry of Communication, Department of Telecommunication, New Delhi, has inspected ITI limited, Registered & Corporate office of Official language department in connection of official language policy implementation.

After inspection an appreciation letter received in the review report sent to the Chairman and Managing Director by Shri. Jitender Kumar Arya, Joint Director (OL), Ministry of Communication, Department of Telecommunication.

ITI Limited, Corporate Office had received Consolation Prize for "Official Language Performance Excellence Award" on 04.12.2024 for the year 2023-24 by Town Official Language implementation Committee (undertaking), Bengaluru for progressive use of Hindi and implementation of Official Language Policy in Corporate Office.

On 18 February, 2025, Shri. S. Balachandra Iyer, Dy. Director General (C & A) & Shri Kamal Swaroop, Deputy Director (OL), Ministry of Communication, Department of Telecommunication, New Delhi, has inspected ITI limited, Registered & Corporate office of Official language department in connection of official language policy implementation.

In order to enhance working knowledge of Official Language of employees, internal training programs are conducted with support of internal/external faculties. Besides, employees are also encouraged to take part in Hindi Prabodh, Praveen, Pragya & Parangat examinations for which financial incentives are given to qualified employees.

" Hindi Fortnight" was organized in the year 2024-2025 in all the Units and MSP offices and various events were organized for employees during this fortnight. Bilingual (i.e English and Hindi) website of the company is being regularly updated.

VIGILANCE

1. Overview of Vigilance Functioning: The Vigilance Department of ITI Limited is headed by Smt. Deepa Chawla, IRAS, who holds the position of Chief Vigilance Officer (CVO) as an additional charge. The department actively focuses on preventive vigilance, punitive vigilance, participative vigilance and surveillance to identify systemic deficiencies and advise the management on measures to streamline operations, thereby ensuring recurrence is prevented. Complaints received through various channels?€”including ITI Management, postal correspondence, email, online portal, Central Vigilance Commission (CVC) and the Department of Telecommunications (DoT)?€”are diligently investigated and taken to their logical conclusion.

2. Vigilance Awareness Initiatives: In line with the directives of the CVC, ITI Limited observed Vigilance Awareness Week from 28 th October to 3 rd November 2024, with the theme "Culture of Integrity for NationRSs Prosperity" across its Corporate Office, Manufacturing Units, NS Unit, Marketing Services Provider (MSP) offices, and other business establishments. Further, an Intensive Awareness Campaign on PIDPI (Public Interest Disclosure and Protection of Informers) was conducted from 16 th August to 15 th November

2024, through banners, posters, and ITIRSs website across all units. Around 20 officials from ITI participated in the Vigilance Marathon organized by the Vigilance Study Circle - Bengaluru (VSC-B) on 27 th October 2024.

3. Capacity Building and Outreach Activities: As part of capacity-building initiatives, 55 officials attended training programs conducted by prestigious institutions in Bengaluru on topics such as: Vigilance Perspective in Tenders & Contracts; Public Procurement; Cyber Hygiene & Security; Ethics & Governance; Lessons from Indic Scriptures on Integrity & Ethics; CTE Type Inspection; Quality, Technology & Innovation

4. During Vigilance Awareness Week , pledge-taking ceremonies were held across units on 28 th October 2024, marking the commencement of the week. Competitions such as Essay Writing (VAW-2024 theme) and Quiz (CDA Rules, Procurement, and General Awareness) were conducted at the Corporate Office, NS Unit, Manufacturing Units, and Business Establishments, with enthusiastic participation from employees. Outreach activities were also held at various educational institutions, including: ITI Vidya Mandir & ITI Central School, Dooravaninagar, Bengaluru; Rhyan International School & Central School, Raebareli; St. Michael Convent School, Mankapur; Uccha Prathmik Vidyalaya, Chaka Block, Naini. In-house training sessions were conducted in collaboration with Bengaluru City Police on Cybercrime & Security, with over 100 participants from Bengaluru-based units. Training programs on Cyber Hygiene & Procurement were also held at the Manufacturing Units in Palakkad, Raebareli, Mankapur, and Naini. The Valedictory Functions were organized on 4 th November 2024 across all units, where prizes were distributed to winners of various competitions.

5. Systemic Improvements: a) Biometric Attendance for Outsourced Workers: Bengaluru-based units have implemented biometric attendance systems for outsourced workers, with payments to contractors linked to attendance records. The system is currently being extended to other units. b) Online Leave Management: Attendance of on-roll employees is recorded through biometric systems, with leave regularization being managed via an online platform.

6. Vigilance Complaints Monitoring: The Vigilance Department regularly reviews and monitors complaints received through designated channels. Complaints warranting investigation are taken up in line with CVC guidelines. The status of vigilance complaints handled during the year 2024-25 is as follows:

IMPLEMENTION OF RIGHT TO INFORMATION ACT, 2005 (RTI)

There exists a mechanism in ITI Limited to process all requests received by Corporate Office/Units under the Right to Information Act, 2005. All Units and Regional Offices of ITI Limited have designated Public Information Officer (PIOs) and at corporate office, we have Assistant Public Information Officer (APIO), Central Public Information Officer (CPIO) and First Appellate Authority (FAA) to address the mechanism of RTI application, other transparency related activities and first appeal, if any. Quarterly online RTI returns are uploaded on Central Information Commission (CIC) portal and also same are published on our Company website. All cases referred to CIC by applicants as second appeals have been successfully addressed and complied in totality to CIC decisions. ITI has been processing and replying the RTI applications with complete transparency and accountability in accordance with RTI Act, 2005.

During the FY Year 2023-24, 459 applications under RTI have been received. Information was provided for 477 RTI applications including 20 RTI applications carried forward from previous years. 30 applications under RTI

were transferred by other PA. The Central Information Commission ("CIC") has online RTI portal for filing online RTI requests for seeking information for convenience of the applicants. Out of the 477 replies, reply/information was provided online for 76 cases. Quarterly online RTI returns were uploaded on the CIC portal and also same information were published on the Company website. All cases referred to CIC by the applicants as Second Appeals have been successfully addressed and complied in totality to CIC decisions.

AUDIT

?€? STATUTORY AUDIT

M/s. B K Ramadhyani & Co LL , Chartered Accountants, Bengaluru were appointed by Comptroller and Auditor General of India (C & AG) as Statutory Auditors for 2024-25 for Bengaluru Plant, NS Unit, Corporate Office, 8 Regional Offices and Consolidation of accounts. The Board of Directors has fixed remuneration of Rs.700000 + GST for standalone, Rs.100000 + GST for consolidation and Rs.600000 + GST for 8 ROs. The fee fixed for certification for Quarterly financial results is Rs.70000 +GST for standalone and Rs.30000+ GST for consolidation for Q1, Q2 and Q3.

In addition, travelling and out of pocket expenses incurred are also reimbursed at actuals. The total amount paid to the statutory auditors for other services rendered by them to the Company during 2024-25.

?€? AUDITORSRS REPORT

AuditorsRS Report on the annual accounts for the financial year 202425 and the comments of the C&AG under Sec 143 (6) (b) of the Companies Act 2013 on the Annual accounts are appended to this report. Reply to observations of Statutory Auditors and C&AG are attached as addendum to this report.

During the year 2024-25, there has not been any fraud reported by the Statutory Auditors of the Company.

?€? BRANCH AUDITORS

The following firms of Chartered Accountants were appointed by Comptroller and Auditor General of India as Branch Auditors for different plants of the Company for the year 2024-25.

The fee for Branch auditor for Rae Bareli is fixed at Rs.100000+ GST, for Naini and Palakkad at Rs.80000+ GST each, Mankapur at Rs.70000+ GST and for Srinagar Rs.20000+ GST .

In addition to the above, certification fee for Branch auditors for quarterly financial results are as follows:

?€? COST AUDITORS

M/s. GNV & Associates, Bengaluru was appointed as lead Cost Auditors for the year 2024-25 for the cost audit of units located at Bengaluru and Palakkad and also for consolidation of Cost Audit Reports of the Company as a whole.

M/s. Aman Malviya & Associates, Lucknow were appointed as Branch Auditors for cost audit of units located at Naini, Rae Bareli, Mankapur and Srinagar.

The appointment of cost auditor was made by Board of Directors and the remuneration of Rs.2,80,000/- exclusive of GST as applicable was ratified by the shareholders in the Annual General Meeting held on 08.11.2024. The cost audit report for the year 2023-24 was filed with Ministry of Corporate Affairs.

The Company maintains its cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act. 2013 read with Rules made thereunder.

?€? SECRETARIAL AUDITOR

The Board had appointed Shri D Venkateswarlu, Company Secretary in Practice, to conduct the Secretarial Audit of the Company for the year 2024-25. The Secretarial Auditor in his report have stated that during the period under review the Company has complied with the provisions of the Acts, Rules, Regulations, guidelines, standards except for those observations mentioned in Secretarial Audit Report, which is appended as Annexure-2 . The reply of management to observations of Secretarial Auditor is attached as addendum to Directors report.

INTERNAL FINANCIAL CONTROL

ITI LimitedRSs internal controls are commensurate with its size and the nature of its operations.

These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use, executing transactions with proper authorization and ensuring compliance with corporate policies. ITI Limited has a well-defined delegation of power with authority limits commensurate with the responsibilities that commits organizational resources. The Audit Committee also periodically interacts with the internal and statutory auditors including Branch auditors to assess the adequacy of internal control systems.

It has continued its efforts to align all its processes and controls with best practices. ITI Limited management assessed the effectiveness of the companyRSs internal control over financial reporting under Section 143 of the Companies Act 2013 as of March 31, 2025. except of the observations referred in Annexure.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

ITI is committed to the Communities around its business and far beyond through its CSR initiatives. During the financial year 2024-25, the Company was not required to spend any amount towards CSR activities, as the average net profits of the Company for the preceding three financial years was negative. However, the Company had spent 2.00 lakhs towards CSR activities for noble cause as the Armed Forces Flag Day Fund (AFFDF) was instituted for the welfare of the veterans, widows and their dependents.

Annual Report on CSR activities including the composition of CSR Committee is enclosed as Annexure-III to the report.

The details of the CSR policy,is available on the website of the Company on at https://www.itiltd.in/csr

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

ITI Limited being a Government Company, policy on directorsRS appointment and remuneration is not applicable and also evaluation of their performance is exempted vide notification dated 05.06.2015 issued by the Ministry of Corporate Affairs

As on 13 th August 2025, there are Seven Directors on the Board of the Company, of which four are Whole Time Directors (including Chairman and Managing Director), Two are Government Nominee Directors and one NonOfficial Director (Independent Director).

INDEPENDENT DIRECTORS

During FY 2024-25, following Independent Directors have completed their term with effect from 9 th November 2024:

?€? Dr Raja Nayak

?€? Shri Billeswar Sinha

?€? Smt Mamta Palariya

The Government of India vide order dated 04 th July 2025 appointed following Independent Director for a period of three year w.e.f. 14 th July 2025:

?– Shri Gopinath Sahu

The Company has received the Certificate of Independence from the Independent Directors confirming that they meet the criteria prescribed for Independent Directors under the provisions of the Companies Act, 2013, and SEBI (LODR). The Independent Directors have confirmed that they are registered with the Database maintained by the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs

In terms of the provisions of Schedule IV of the Companies Act, 2013, the terms and conditions of appointment of Independent Directors are posted on the website of the Company. Further, the Independent Directors are not liable to retire by rotation under the provisions of Section 152 of the Companies Act, 2013.

GOVERNMENT DIRECTOR

The following are changes in Government Directors:

1. Shri Sunil Kumar Verma, Joint Secretary (A), DoT from the Department of Telecommunications ceased to be Government Nominee Director of the Company w.e.f. the afternoon of 21.05.2025 due to repatriation to his parent cadre, i.e. Ministry of Railways.

2. Shri Arun Agarwal, DDG (Sat.), DoT from the Department of Telecommunications appointed as Government Nominee Director of the Company w.e.f. 22.07.2025 for a period of three years or till the date of his superannuation or till further orders, whichever is earliest.

FUNCTIONAL DIRECTORS

The following are the changes in Functional Directors:

1. Smt S Jeyanthi is given extension as Director HR with additional Charge for the period of 1 year with effect from 28 th Feb 2025.

The Board wish to place on record its whole hearted appreciation for commendable contribution and guidance rendered by the Directors whose term of office ended during the year.

Smt S Jeyanthi, Director Production retires by rotation at the forthcoming Annual General Meeting and being eligible offers herself for re-appointment.

KEY MANAGERIAL PERSONNEL

During the financial year 2024-25, apart from functional directors, Chief Financial Officer and Company Secretary continues to hold the post of Key Managerial Personnel of the Company.

Shri Y Sathyan, Company Secretary and Key Managerial Personnel of the Company appointed by the Company w.e.f. 24 th December 2024.

DETAILS OF BOARD MEETINGS

During the year under review, eight Meetings of the Board of Directors were held. The details of meetings attended by each director are provided in the Corporate Governance Report.

COMPOSITION OF AUDIT COMMITTEE

As on 31 st March 2025, the Audit Committee comprised 03 Members and all are functional Directors. During the year, 05 Audit Committee Meetings were held, details of which are provided in the Corporate Governance Report.

There have been no instances during the year when recommendations of the Audit Committee were not accepted by the Board.

PERFORMANCE EVALUATION OF BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS AND POLICY FOR SELECTION AND APPOINTMENT OF DIRECTORS AND THEIR REMUNERATION

ITI Limited being Government Company is exempted from the provisions of evaluation of performance of independent Directors. Further, the Govt. of India, the appointing authority has its own set of processes in determining the criteria and also for evaluation of the performance of Independent Directors at the time of appointment / re-appointment.

With regard to formulation of criteria for appointment of Directors on the Board by the Nomination and Remuneration Committee, being a Government Company, the criteria for appointment of Directors on the Board is done by Government of India.

RISK MANAGEMENT

The Enterprise Risk Management (ERM) framework implemented as part of Governance, Risk Management and Compliance (GRC) in the Company is based on global best practices in Risk Management as covered by ISO 31000:2018 and IEC 31010:2019 and has enabled the Company to fully integrate the Risk Management into its normal business operations.

The CompanyRSs ERM policy framework is a structured process that involves:

?€? Identifying all external and internal risk-factors.

?€? Assessing the impact of these risks on the organizationRSs business and financial targets.

?€? Prioritizing the identified risk-factors.

?€? Exploring various alternatives for treating these risks.

?€? Implementing controls and monitoring mechanisms for managing the risks.

ERM is an ongoing and dynamic process that requires iteration and adaptation to changing circumstances. The CompanyRSs ERM Manual is a well-structured framework having four layers of governance teamRSs i.e.

?€? Level-1: URMC (Unit Level Risk Management Committee)

?€? Level-2: ERMSC (ERM Steering Committee)

?€? Level-3: ERMGC (Enterprise Risk Management Governing Committee) or RMC (Risk Management Committee)

?€? Level-4: Risk Management Committee at Board Level.

These Committees are responsible to monitor the policy implementation across all the Units by following approved ERM Process, ERM Governance Structure, Roles and Responsibilities of the relevant stakeholders, formation of Risk Registers, provide their continuous contribution to operation of ERM in all the Units of Company.

The establishment and maintenance of the ERM framework is facilitating effective decision making process at different levels of the Company. The Risk Register maintained by the Company includes standalone risks identified for the Corporate as well as any significant risks from the Units that merit attention of the Corporate, which will be regularly be presented and reviewed by the Task Force Committee.

All the Units submit and update ERM Risk Register to the ERM Steering Committee (ERMSC). As part of the policy operation ERMSC have conducted monthly risk management review meetings on 08 th April 2024, 14 th May 2024, 18 th June 2024, 16 th July 2024, 20 th August 2024, 24 th September 2024, 22 nd October 2024, 19 th November 2024, 24 th December 2024, 21 st January 2025, 25 th February 2025 and 19 th March 2025 with all the Units (URMC). In the Risk Management Committee Meeting held on 9 th August 2024, the high-priority risks and mitigation plans proposed were reviewed.As framed in the ERM Manual, Risk Management activities will be carried out on an ongoing basis as part of the routine business operations.

WHISTLE BLOWER POLICY/ VIGIL MECHANISM

SEBI (LODR) Regulations, 2015 require formulating a "Whistle Blower Policy for providing necessary safeguards for protection of employees from victimization. Further SEBI (Prohibition of Insider Trading) regulations, 2015 also requires the Company to have Whistle Blower Policy and make the employees aware of such policy to enable them to report instances of leak of Unpublished Price Sensitive information.

Objectives of Vigil Mechanism / Whistle Blower Policy:

1. The Vigil Mechanism / Whistle Blower Policy aims to provide a channel to report genuine concerns about unethical behavior, actual or suspected fraud or violation of the Codes of Conduct or instances of leak of Unpublished price sensitive information or policies or regulatory requirements.

2. To provide adequate safeguards against victimization of Directors and employees to avail the mechanism.

3. To initiate inquiry in case of leak of UPSI or suspected leak of UPSI and inform the same to the competent authority promptly.

Covers disclosure of any unethical and improper or malpractices and events which have taken place / suspected to take place. The Whistle Blower role is to report Company with reliable information. A Whistle Blower policy is not required or expected to act as an investigator or finder of the facts, nor would the Whistle Blower have a right to participate in any investigative activities unless requested by the Investigator.

PARTICULARS OF EMPLOYEES

Government Companies are exempted from complying with provisions of Section 197 of the Companies Act, 2013. Therefore, such particulars have not been included as part of DirectorsRS Report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

A separate section on Business Responsibility and Sustainability Report as required under Listing Regulations, has been included in the Annual Report as Annexure- 4 and the same forms part of the DirectorsRS Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report prepared as per Listing Regulations and DPE Guidelines on Corporate Governance is enclosed as Annexure 5 of this report.

CORPORATE GOVERNANCE REPORT

The report on Corporate Governance on the compliance of Corporate Governance conditions stipulated in Listing Regulations and the DPE guidelines forms part of Directors report. The Certificate on the Compliance of above Corporate Governance Conditions from Practicing Company Secretary also forms part of DirectorsRS report.

EXTRACT OF ANNUAL RETURN

In accordance with the Companies Act, 2013, the annual return is available on the CompanyRSs website at https://www.itiltd.in/annual_general_meeting

RELATED PARTY TRANSACTIONS

All related party transactions entered during the year 2024-25 were in ordinary course of the business and are on an armRSs length basis.

The Company has formulated a Policy on Related Party Transactions which is available on the CompanyRSs website at https://www.itiltd.in/codes_and_ policies.

The disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC-2 is not applicable to the Company. Members may refer to Note No. 06 to the financial statement which sets out related party disclosures pursuant to IndAS24.

MATERIAL CHANGES AFFECTING FINANCIAL POSITION OCCURING BETWEEN THE END DATE OF FINANCIAL YEAR AND DATE OF THE REPORT

The are no material changes affecting the financial position of the Company subsequent to the close of the FY 2024-25 till the date of this report.

REGULATORY OR COURTS ORDER: NIL

DIRECTORSRS RESPONSIBILITY STATEMENT

The Board of Directors confirm that

(a) In the preparation of the annual accounts for the financial year ended 31 st March 2025, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) Such accounting policies have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at 31 st March 2025 and of the profit of the company at that date;

(c) Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The annual financial statements have been prepared on a going concern basis;-

(e) Proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; and

(f) That systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating effectively.

PARTICULARS OF LOAN, GUARANTEES OR INVESTMENTS

There are no transactions of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013.

STATUS ON COMPLIANCE WITH THE INSOLVENCY AND BANKRUPTCY CODE, 2016

M/s Recap Ventures Pvt Ltd had filed an application U/Sec 9 of IBC in NCLT, Bengaluru vide Case No. C.P (IB) No. /98/BB/2023 to initiate Corporate Insolvency Resolution Process against ITI Limited. The said NCLT court by its order dated 16.07.2025 has dismissed the aforesaid case filed against ITI Limited.

DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

There are no instances of one-time settlement during the financial year 2024-25.

ENTERTAINMENT EXPENDITURE AND FOREIGN TRAVEL

The expenditure on entertainment for financial year 2024-25 was NIL (PY was also NIL). Expenditure on official travel abroad by the officials of the Company was NIL during the year.

CITIZENRSS CHARTER

Citizens are implied as any Stakeholder of the ITI Limited (ITI) extending from Employees, Customers, Vendors, Investors, Collaborators / JV Partners, Competitors, Media and Govt to Society / Community at large. The Citizens charter does not itself create new legal rights, but make the citizens aware of their existing rights.

ITI CitizenRSs Charter outlines its scope and contains general information about the Company, CitizenRSs obligations towards Company and the ManagementRSs commitment towards the citizens. It also contains Grievance redressal mechanism and CitizenRSs Service Delivery.

The Charter exhibits the organizationRSs ability to provide quality products and efficient services to the citizens while meeting the legal and regulatory requirements. Continuous improvement of products and services is its aim for the satisfaction of the stakeholders.

Objectives of CitizenRSs Charter are as follows:

1) To demonstrate Transparency and openness of its business operations.

2) To improve the quality of public services by ensuring Citizen centric focus across all its processes.

3) To let people, know the mandate of the Organization, how one can get in touch with its officials, what to expect by way of services and how to seek a remedy in case of specific complaints / problems.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Particulars with respect to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo, required to be disclosed under

the Section 134 of the Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rules, 2014 is appended as Annexure 6 .

PROCUREMENT POLICY FOR MICRO AND SMALL ENTERPRISES ORDER 2012

The Procurement Policy for Micro and Small Enterprises Order 2012 read with amendments made thereunder is being followed across all the Units of the Company. In line with this, the company made significant strides in supporting MSE vendors. During the financial year 2023-24, the company procured worth Rs 95.06 Crore from MSE vendors, which constituted 4 % of its total procurement value.

Moving into the financial year 2024-25, the company continued its commitment to MSE procurement, achieving 25% of its total annual procurement through these vendors, resulting in a total procurement value of Rs. 179.98 Crore. This reflects a substantial increase of approximately 189.33% in procurement value from MSE compared to the previous year. The overall increase in procurement value underscores the companyRSs ongoing dedication to enhancing its engagement with MSE vendors, contributing to their growth and development.

ACKNOWLEDGEMENT

The Board of Directors would like to thank its clients, vendors, investors, bankers for their continued support during the year. The Board would also like to thank the Government of India, particularly the Ministry of Communications and Ministry of Defence as well as the various State Governments, regulatory and statutory authorities for their support and look forward to their continued support in future. The Board is also thankful to all its stakeholders, including bankers, investors, members, the Comptroller & Auditor General of India, Statutory Auditors, Secretarial Auditor, Cost Auditors, Internal Auditors, etc for their continued co-operation. The Board appreciate and value the contribution made by every employee.