VIKAS LIFECARE LIMITED — Capital/Financing Update 2024

Jan 13, 2024

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January 13, 2024

Listing Compliance Department National Stock Exchange of India Limited. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai 400051 Fax: 022-26598235/36

NSE Symbol: VIKASLIFE

Listing Compliance Department BSE Limited. Phirozee Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001

Scrip Code: 542655

Sub: Media Release

Genesis Gas Solutions accomplishes incorporation of joint Venture Company “ ” - Indraprastha Genesis Technologies Limited and completes inducement of Paid Up Capital Amounting INR 181 Million

Dear Sir/ Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith copy of Media Release titled “ Genesis Gas Solutions accomplishes incorporation of joint Venture Company “Indraprastha Genesis Technologies Limited” and completes inducement of Paid-Up Capital Amounting INR 181 Million”.

We request you to kindly take the above information on record and oblige.

Thanking you,

Yours Faithfully, for Vikas Lifecare Limited

SUNDEEP KUMAR DHAWAN Digitally signed by SUNDEEP KUMAR DHAWAN DN: c=IN, postalCode=110060, st=DELHI, street=CENTRAL DELHI, l=CENTRAL DELHI, o=Personal, serialNumber=40e89d5db3faa1a156367aa6039e7a3f88b02c675a15667c6c3528cfb10afaea, pseudonym=6ecef442c6274cbc8935df85782415c2, 2.5.4.20=af48fcd1db1a066b870ea81c36068e98188597c1ad2b0b5f5e2faa962793fdf4, email=SKDHAWAN12@GMAIL.COM, cn=SUNDEEP KUMAR DHAWAN Date: 2024.01.13 10:09:54 +05'30'

Sundeep Kumar Dhawan Managing Director DIN: 09508137

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Media Release

Genesis Gas Solutions accomplishes incorporation of joint Venture Company “Indraprastha Genesis Technologies Limited” and completes inducement of Paid-Up Capital Amounting INR 181 Million.

New Delhi, 13 January’24: Vikas Lifecare Limited is thrilled to announce that its subsidiary company Genesis Gas Solutions Pvt. Ltd. (Genesis) has accomplished the incorporation of “IGL Genesis Technologies Limited” the joint venture company with Indraprastha Gas Limited (IGL). “IGL Genesis Technologies Limited” has been incorporated with equity participation from Indraprastha Gas Limited (IGL) and Genesis Gas Solutions Pvt. Ltd. (Genesis) in the ratio of 51:49 respectively.

With the incorporation of “IGL Genesis Technologies Limited”, Genesis Gas Solutions Pvt Ltd has completed the inducement of its share of the Paid-Up capital amounting INR 181 Million in the newly incorporated entity.

About The Joint Venture:

Genesis Gas Solutions Pvt Ltd had earlier announced having entered into Joint Venture Agreement with Indraprastha Gas Limited (IGL) to establish India’s first Integrated State-ofthe-Art Smart Meter Manufacturing Plant with a total Capital Expenditure of Rs. 1080 Million . The JV Company “IGL Genesis Technologies Limited” will manufacture Diaphragm Gas Meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc. “IGL Genesis Technologies Limited” will also indigenously develop the Softwares and Interface Programmes with in-built Smart Analytics, Dashboards and Predictive Maintenance Protocols, and Allied Systems for the Smart Meters manufactured.

The manufacturing facility is being developed on the land located at Sector-145, NOIDA, Uttar Pradesh, with a building Initially measuring about 65000 Sq. Feet. which will be ready by end of February’24 and the fittings and fixtures will be completed by the end of May’24. The orders for the manufacturing equipment have already been finalised and will be placed within the Month of January’24.

This IGL and Genesis Joint Venture has been being established following the spirit of Government of India’s Make in India - Make for World initiative, shall be instrumental in paradigm shift in favour of Indian Players in the field. Initially, the Smart Meter Manufacturing Plant shall have installed capacity to manufacture 1 Million Meters annually, and is planned to be operational by July 2024.

“IGL Genesis Technologies Limited” is aiming to tap the potential in high demand for smart meters not only for domestic consumers but for international market as well by providing latest technology-based metering solutions meant for long range communications and capable of working in low power networks, automated metering, pre-paid metering.

About Genesis Gas Solutions Pvt Ltd:

Genesis was Co-Founded in 2017 by a team of technopreneur’s and finance professionals has been specifically focussed on the evolving City Gas Distribution sector.

• Genesis is a pioneer in Smart Gas and Water Metering in India and commands about 17% of the Domestic Gas Metering share in the country. While supplying Gas Meters to the industry leaders including Gujarat Gas Limited (GGL), Avantika Gas Limited, and many more renowned companies engaged in gas exploration, gas transportation and gas distribution.

• Genesis is the supplier of Gas meters to various CGDs of India, with having supplied more than 9 lakh meters manufactured by Hangzhou Beta Meter Co. Ltd (world’s first ranking gas meter manufacturer company), along with after sales services under exclusive supply arrangement.

Genesis has certain very interesting achievements & developments to its credit:

• Genesis also supplied and manages the Smart Meter Interface Unit (MIU) and associated services being used by Indraprastha Gas Ltd.

• Genesis is a smart metering solution provider (AMR & Prepaid) with RF based Lora WAN technology, partnering with Tata Communications. Genesis has also developed Bluetooth based Smart Meters which don’t need a dedicated network to run.

• Genesis Gas developed India’s first Meter Data Management (MDM) and Head End System for Gas utilities which run more than 150,000 smart meters in India.

• Genesis has also brought out its own Modem and Head End systems to complement its field devices, which is now being recognised by companies like SICK India who are testing these in-house products for their metering requirements.

• Genesis Gas had been awarded the contract to provide technical advisory for Optimization of Battery Storage Systems for Distribution Grid Applications by the Dornier Group GmbH (Of Germany) at their ongoing projects in Mali, Africa.

The Genesis Product & Services Trajectory:

• Genesis Gas introduced Ultrasonic Meters which are considered highest in efficacy in terms of accuracy and reliability, as these meters derive the volume flow of the gas by measuring the transit times of high-frequency sound waves. The Ultrasonic meters are eminently required at Large Diameter Gas Pipe Lines where it is a commercial loss to use the mechanical drive meters.

• Genesis has developed a 4G Modem, and integrated its own MDM solution, EnerDash with the UltraSonic meters (FlowSic 500) being supplied by them to customers.

• Genesis Gas subsequently also ventured into Commercial Pipeline Laying Contracts for Indian Oil Adani Gas Pvt Ltd (IOAGPL), a joint venture between Indian Oil Corporation Limited , a Maharatna company of Government of India and Adani Total Gas Limited – a city gas distribution company that is a part of country’s leading integrated business conglomerate – The Adani Group. Engaged in laying Pipeline network to supply the Piped Natural Gas (PNG) to the industrial, commercial and domestic segments and Compressed Natural Gas (CNG) to the transport sector.

More details about the Genesis are available at https://www.genesisgas.com/

About Vikas Lifecare Limited:

Vikas Lifecare Limited (VLL) is an ISO 9001:2015 certified company, conventionally engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber. Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches (Manufacturing up- cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations for the conglomerates consuming hundreds of thousands of tons of plastic products and packaging materials.

VLL is also a Del-Credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited, a public sector undertaking producing a wide variety of base Polymers and Commodity Plastic Raw Materials.

VLL’s subsidiary M/s Genesis Gas Solutions Pvt. Ltd. is engaged in the business of Smart Gas Meters being supplied to all the major Gas Distribution Companies for domestic and commercial consumers. Genesis pioneers in Smart Gas and Water Metering and commands about 20% of the Domestic Gas Metering business share in India.

As a long-term business strategy, the company has most recently diversified its business interests beyond raw materials (B2B businesses) and forayed into the B2C segment with a host of consumer products including FMCG, Agro, and Infrastructure Products; paving way for an aggressive business growth with intricately planned and selected product portfolios via acquisitions, joint ventures and tie-ups. VLL intends establishing / acquiring businesses in these segments thereby expanding its footprint in the country and beyond.

The securities of the Company are listed on both the Stock Exchanges, BSE (Scrip Code: 542655) and NSE (Symbol: VIKASLIFE).

Disclaimer: Certain statements, words in this document that are not historical facts are forward looking statements. Such forward looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks and many other factors that could cause actual result to differ materially from those contemplated by these forward-looking statements. Vikas Lifecare Limited its subsidiaries and associates shall not be in any way responsible for any action taken based on such statements.