Strong Governance

Building Trust and Driving Value Creation

Deepak is committed to the highest standards of governance, integrity and ethical business practices. We have embraced world-class practices as well as robust governance and risk frameworks to achieve this. This is supported by an experienced and diverse Board having adequate independence to not only drive value creation, but also protect the interests of all stakeholders

Corporate Governance Philosophy

At Deepak, we have always upheld the belief that good governance has a pivotal role to play in the success of our business. We have been committed to ensuring the attainment of a high level of transparency and accountability in the functioning of the Company and promoting ethical business conduct at all levels and in our dealings with employees, shareholders, customers, depositors, creditors, financial institutions and other stakeholders. Embedding accountability supports effective decision-making while transparency provides all our stakeholders with the reasoning behind our decisions. This adherence to high governance standards allows us to retain the trust and confidence of our stakeholders.

Our corporate governance philosophy is also enshrined in the fundamental belief that compliance with regulatory requirements and international standards of corporate conduct allows us to create a sustainable enterprise. However, governance within Deepak entails far more than rules and regulations and best-practice principles. Good governance, we are of the view, must contribute to living our values and creating maximum shared value.

Ethics And Transparent Practices

Corporate governance is the basis for the management of our business on a day-to-day basis. With good governance an important pillar of our operations, your Company has always sought to elevate the level of transparency and ensure that integrity, accountability, and fairness are hallmarks of its dealings with shareholders, customers, investors, and other stakeholders. Our Board appreciates the importance of ethics and its contribution to value creation and is committed to instilling ethical values and transparent practices throughout the Company.

Code Of Conduct

Our values and culture continue to be the cornerstone of governance across our Company. We are of the view that the correct institutional culture must flow from the top as there is no substitute for ethical leadership. We have framed and adopted a Code of Conduct (‘the Code’) for the members of the Board and the Senior Management in terms of requirements of the Listing Regulations. Our Code is integral to the way we operate, laying the general principles designed to guide all Directors and Senior Management for the ethical conduct of business and compliance of laws. Our Directors, Committees and Management have affirmed their responsibility for embedding good governance practices into our business in consistence with the provisions of the Code.

Board Diversity

There is sufficient diversity in thinking across our Board of Directors, characterised by a combination of knowledge, experience, and expertise to provide leadership and guidance to the management. There is also an appropriate mix of non-executive and executive directors, including an independent woman director. The complex interplay of opportunities and challenges in our operating environment needs to be closely monitored and demands strategic response for ensuring a strong and stable market position. Thus, formal and informal evaluation of the environment is an everyday executive responsibility. The Board is regularly apprised of developments that could have a bearing on the performance and sustainability of the Company. The high degree of diversity by education/qualifications, professional background, sector expertise, technical knowledge and special skills at the Board level provides active management oversight. Deepak remains committed to promoting Board diversity to achieve better holistic performance.

Strategic Focus Area

Development of new process and product, operational excellence and HSE performance will remain a key focus area for us. We have multiple initiatives lined up to strengthen our manufactured capital. We continue to work towards cost optimisation through backward integration and recycling as well as maximising asset utilisation for enhancing

return on investment. We are undertaking several ongoing capacity expansion Programmes for existing product and to build a pipeline of new products. Further, we focus on creating swing capacity, which will help us in operational flexibility regarding which product to manufacture based on market demand will also improve plant utilisation.

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