Disclosures

• The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations)
• Rohit Mohan Dhanani (“Research Analyst”) is registered with SEBI as Research Analyst with Registration No. INH000020855, BSE Enlistment No.: 6608. The research analyst got its SEBI registration on Jun 12, 2025 and is engaged in research and recommendation Services. The focus of Research Analyst is to provide research and recommendations services to the clients. Analyst aligns its interests with those of the client and seeks to provide the best suited services.
• Research Analyst have no material adverse disciplinary history as on the date of publication of this report.
• Research Analyst has no associates
• Research Analysts or its employee or its associates may have beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the Research Report.
• Research Analysts or its employee or its associates does not have any financial interest in the subject company.
• Research Analysts or its employee or its associates have no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of recommendation services at the time of publication of the research report.
• Research Analysts or its employee or its associates have not received remuneration, consideration or compensation from the subject company or from anyone in connection with the research report during the past twelve months.
• The subject company was not a client of the Research Analyst during the twelve months preceding distribution of the research report.
• Research Analysts or its employee or its associates have not served as an officer, director or employee of the subject company.
• Research Analyst has not engaged in market making activity for the subject company.
• Research Analyst has not used Artificial Intelligence tools in preparation of the research report.