Page 147 - Hitachi IR 2025

9.  EXPANSION/ ADDITION OF NEW MANUFACTURING
FACILITIES:
Your Company had no addition of any new
manufacturing facilities.
The details of existing manufacturing facilities
are provided under Management Discussion and
Analysis section of this Report.
10. CREDIT RATING:
The Company had no outstanding borrowings as
on March 31, 2025. Accordingly, no fund-based
limits were utilized from the established credit lines
with banks.
CRISIL Ratings Limited has reaffirmed the long-term
and short-term credit ratings for `6,000 Crores
bank loan facilities of the Company.
CRISIL has assigned ‘CRISIL A1+’ as Short-
Term Rating and assigned ‘CRISIL AAA/Stable’
ratings as a Long-Term Rating effective from
October 17, 2024. CRISIL reaffirmed Long
Term ratings as ‘CRISIL AAA/Stable’ as on
March 24, 2025, an event driven review followed
by QIP of Equity shares issuance.
The Company’s financial discipline and prudence
are reflected in the strong credit ratings ascribed
by rating agencies. The details of credit ratings
are also disclosed in the Management Discussion
and Analysis section, which forms part of the
Board’s Report.
11.  BOARD OF DIRECTORS AND KEY MANAGERIAL
PERSONNEL:
The Board of Directors of the Company comprises
of eminent persons with proven competence and
integrity. Besides the experience, strong financial
insight and leadership qualities, they have a
significant degree of commitment towards the
Company and devote adequate time to the Meetings.
As at March 31, 2025, the Board of Directors
comprised 6 Directors of which 1 is Executive
Director, 2 are Non-Executive Directors and 3 are
Non-Executive, Independent Directors.
• Mr. Nuguri Venu (DIN: 07032076), Managing
Director and Chief Executive Officer is the
Executive Director.
• Mr. Ismo Antero Haka (DIN: 08598862) and
Mr. Achim Michael Braun (DIN: 08596097) are
the Non-Executive, Non-Independent Directors.
• Mr. Mukesh Butani (DIN: 01452839),
Ms. Akila Krishnakumar (DIN: 06629992) and
Ms. Meena Ganesh (DIN: 00528252) are the
Non-Executive, Independent Directors.
The composition of the Board of Directors is in due
compliance with the Act and SEBI Listing Regulations.
None of the Directors of the Company are
disqualified under Section 164(2) of the Act.
Key Managerial Personnel:
Mr. Nuguri Venu (DIN: 07032076), Managing
Director and Chief Executive Officer, Mr. Ajay
Singh, Chief Financial Officer and Mr. Poovanna
Ammatanda, General Counsel, Company Secretary
and Compliance Officer are the Key Managerial
Personnel in accordance with the provisions of
Section 203 of the Act. There was no change in the
Key Managerial Personnel during the year.
Appointment/ Re-Appointment of Directors:
Based on the recommendation of the Board of
Directors and the shareholders at the 5th Annual
General Meeting held on August 21, 2024,
approved the Re-appointment of Mr. Achim Michael
Braun (DIN: 08596097), Non-Executive Director
who retired by rotation.
Further, in accordance with the Articles of
Association of the Company and the provisions of
Section 152(6)(e) of the Act, Mr. Ismo Antero Haka
(DIN: 08598862), Director, will retire by rotation
at the ensuing Annual General Meeting and being
eligible, offer himself for re-appointment.
A brief resume of Mr. Ismo Antero Haka, proposed
to be re-appointed, the nature of his expertise in
specific functional areas and names of the Companies
in which he hold Directorship/ Membership/
Chairmanship of the Board or Committees, as
stipulated under SEBI Listing Regulations has been
provided as an Annexure to the Notice convening
the 6th Annual General Meeting.
Details of Directors, Key Managerial Personnel and
Composition of various Committees of the Board
are provided in the Corporate Governance Report
forming part of this report.
Declaration of Independent Directors:
The Company’s Independent Directors have
submitted requisite declarations confirming that
they continue to meet the criteria of independence
as prescribed under Section 149(6) of the Act and
Regulation 16(1)(b) read with Regulation 25 of
SEBI Listing Regulations and they have registered
their names in the Independent Directors’ Databank.
The Independent Directors have also given their
undertaking that they are not aware of any event or
incident that exists or might reasonably be anticipated
Integrated Annual Report 2024-25145