Page 194 - Hitachi IR 2025

BOARD’S REPORT
v. Discretionary Requirements:
•
The Auditors’ opinion on the financial statements is unmodified.
• The Board of Directors of Hitachi Energy India Limited has a Non-Executive Chairman i.e., Mr. Achim
Michael Braun and Mr. Nuguri Venu is the Managing Director and Chief Executive Officer of the
Company. There is no relationship between the persons occupying these posts.
•
Internal Auditor has been appointed and reports directly to the Audit Committee
vi. •
The Company does not maintain a separate office for the Non-Executive Chairman.
• The quarterly financial results are published in newspapers of wide circulation. Additionally,
quarterly / half yearly/ annual results are emailed to Shareholders whose email addresses are
registered with the Company/ Depository Participants. Further the financial results are available
on the website of the Company and of Stock Exchanges where the shares of the Company are
listed i.e., BSE Limited and National Stock Exchange of India Limited.
 Other requirements as stipulated in the SEBI Listing Regulations and for the Corporate Governance
Report:
Confirmation from Board regarding Independent Directors’ Criteria:
The Board of Directors confirms that in their opinion, the Independent Directors fulfill the conditions
specified under the Act and of the SEBI Listing Regulations and are independent of the management.
Credit Ratings:
The Company does not have any debt instrument, fixed deposit program or scheme or proposal for
the mobilization of funds. However, for short-term borrowings, the Company obtained a credit rating.
The details are as follows:
CRISIL Ratings has reaffirmed, ‘CRISIL AAA/Stable/CRISIL A1+’ ratings as on October 17, 2024, on account
of Annual ratings review of banking facilities of the company and further as on March 24, 2025, reaffirmed
CRISIL AAA/Stable, an event driven review following QIP of equity shares issuance:
Total Bank Loan Facilities Rated `6,000 Crore
Long Term Rating Crisil AAA/Stable
Short Term Rating CRISIL A1+
vii.  Certificate from a company secretary in practice that none of the directors on the board of the Company
has been debarred or disqualified from being appointed or continuing as directors of the company by the
Board / Ministry of Corporate Affairs or any such statutory authority:
Appended as Annexure-4.
By order of the Board
For Hitachi Energy India Limited
Place: Bengaluru Chairman
Date: May 14, 2025 Achim Michael Braun
(DIN: 08596097)
192 Hitachi Energy India Limited