Dear Shareholders

We survived through the two years of worldwide pandemic and sustained our operationsand paid substantial portion of debts to our banks.

In May 2022 there was fire fueled by PU panels in Cold stores & ceilings that ragedfor 40 Hours and gutted all processing facilities.

However the grace was; we could save all our workers & prevented explosion of hugestorage of Ammonia that could have spread across all surrounding villages.

Damage is Huge but We believe that Cosmos has pressed the Reset Button and burnt allour mistakes and we can rebuild a better facility.

Himalaya is blessed with the ability to have endured multiple tragedies in last onedecade without loosing the courage & steam to propel into the hitherto elusive orbitof Great Success

Immediately after the fire we swung in action and took these steps:

• We created quick small capacity to work 24/7 at Vadnagar plant to meet thebacklog of huge export orders.

• The Paonta frozen products Unit that was lying shut has been revived and will bein full operations from this month.

We are in process of selling parcels of excess land within current year.

We plan to pay balance debt of Rs 55 Crores to banks from our sale of excess land andfrom Insurance Claim within this year and shall be Debt Free during the current FY endingMarch 2023.

We plan to use all cash generation to strengthen our working capital and use surplus torebuild the Burnt- out facility to house the 10 Ton Per Hour line for French Fries. Theline was purchased few years back but could not be put in operation earlier & isreflected as WIP ( work in progress) in our Balance Sheet.

We are confident to not only come out of the current situation created by Fire butshall enter the most productive period in the history of the Company.

We appreciate and thank you for your patience and support in all upheavals.

We renew & reiterate our pledge to usher in the Golden Period of the Company withinthe next few quarters.