XTGLOBAL INFOTECH LIMITED — Call Transcript 2024

Oct 8, 2024

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Date: 08[th ] October 2024

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To To
The Listing Department The Listing Department
National Stock Exchange of India Limited Bombay Stock Exchange Limited
Exchange Plaza, Bandra Kurla Complex Dalal Street
Bandra E , Mumbai - 400051 Mumbai - 400001
Scrip Symbol: XTGLOBAL Scrip Code -531225
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Sub: Transcript of the 36[th ] Annual General Meeting Scrip Code: 531225 – XTGlobal Infotech Limited

Dear Sir/Madam,

With reference to the captioned subject, please find attached the transcript of the 36[th ] Annual General Meeting of the Company held on Monday, 30[th ] September 2024.

The above reports are also being uploaded on the Company's website www.xtglobal.com

We request you to take the aforesaid on records.

Thanking You Yours Sincerely,

For and on behalf of

XTGlobal Infotech Limited

PENTELA Digitally signed by PENTELA SRIDHAR SRIDHAR Date: 2024.10.08 11:39:57 +05'30' Sridhar Pentela Company Secretary & Compliance Officer A55735

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36[th] Annual General Meeting of XTGlobal Infotech Limited

held on 30[th] September 2024

from 10:00 A.M. (IST) to 10:50 A.M. (IST)

Following Directors / Key Managerial Personnel / Auditors of the Company attended the AGM through VC / OAVM:

Directors Present:

Mr. Ramarao Atchuta Mullapudi – Managing Director Ms. Vuppuluri Sreedevi – Whole-time Director Mr. K V A Narasimha Raju - Independent Director Mr. Saibaba Karuturi - Independent Director

Mr. Jagannatha Prasad Malireddy – Non-Executive Director

Mr. Srinivasa Raju Kosuri - Non-Executive Director Mr. Srinivasa Pendyala – Independent Director

KMPs present:

Mr. Raghuram Kusuluri - Chief Financial Officer

Mr. Sridhar Pentela - Company Secretary

Special Invitees :

Mr. N. Madhusudan Reddy, partner of M/s C Ramachandram & Co, Chartered Accountants, Hyderabad, Statutory Auditor of the Company

Mr. Ch Veeranjaneyulu, partner of M/s VCSR & Associates, Practicing Company Secretaries, Hyderabad, Secretarial Auditor of the Company, and Scrutinizer for the AGM.

Members Present :

59 members were attended the meeting through Video Conferencing.

Moderator: Good morning. This is Rajita, your moderator for the event. As we have a requisite quorum, may I request the company secretary to start the proceedings of the meeting. Thank you.

Sridhar Pentela: Thank you moderator, very good morning to all the members, directors and invitees. I am Sridhar Pentela, your company secretary and Compliance officer. So delighted to welcome you all for this 36th Annual General meeting of XT Global Infotech Limited. I extend my sincere thanks to all for being with us. As per section 103 of the Companies Act 2013, the requisite quorum is present for the meeting. Shareholders may note that this AGM is being held through video conferencing mode in compliance with the province of Companies Act 2013 circulars issued by the Ministry of Corporate affairs and SEBI from time to time, in this regard. The registered office of the company situated at Hyderabad shall be deemed as the venue for this meeting and proceedings of the 36th AGM shall be deemed to be made thereon. To transact the business as mentioned in the notice of the AGM. The notice convening the AGM along with the integrated annual report for the financial year 2023-24, have been sent through electronic mode to

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those members whose email ids are registered with the company or with the RTA or with the depository participants in compliance with the MCA general circulars and SEBI circulars issued from time to time. Please note that in terms of statutory requirements, the proceedings of the AGM are being recorded and transcript of the proceedings shall be made available on the company's website and also shall be uploaded on the stock exchange where the shares of the company are listed. Before starting the proceedings of the meeting, I would like to inform the members about the proceeding process to be followed during the meeting.

First of all, the facility for joining the meeting is made available through video conferencing mode for all the registered members of the company. All the members who joined the meeting are by default placed on mute by the host to avoid any disturbance arising from the background noise and to ensure smooth and seamless conduct of the meeting. Since the AGM is being held through video conferencing mode, pursuant to the applicable circulars of MCA and Security Section Board of India, physical attendance of members have been dispensed with. Accordingly, the facility for appointment of proxy is not available for the meeting. However, the body corporates who are the members of the company were entitled to appoint authorized representatives to attend the meeting through video conference and cast their votes electronically. Requisite arrangements have been made through e voting services provided by K Fintech to enable the members to exercise their right to vote and the resolutions as per the AGM notice. As per the company's act 2013 and SEBI LODR regulations, your company has provided facility of remote e voting to all the shareholders to enable them to cast their votes electronically. As per the timelines mentioned in the AGM notice, the remote e voting facility was provided for four days which was concluded at 05:00 p.m. yesterday. The shareholders who has not voted during remote e voting process shall be eligible to vote through Insta poll during the AGM. The process of e voting is already explained in detail in the notice of the AGM. Please note that shareholders who have already voted on the resolutions by way of remote e voting will not be able to vote again at the AGM. Participation of the shareholders through video conferencing other audio-visual means is being recurred for the purpose of quorum. Shareholders may please note that there will be no voting by show of hands. The results of the e voting along with the scrutinizers report shall be communicated to the NSE and BSE where the equity shares of the company are listed and will also be placed on the company's website within two working days of the conclusion of this meeting. Mr. Ch. Veeranjaneyulu, practicing company secretary, partner of MSV CSR and Associates, has been appointed as scrutinizer to scrutinize the e voting process in a fair and transparent manner. Now, our chairman of the company will address the shareholders followed by the question-andanswer session. With this, now I request our chairman of this meeting, Mr. Mullapudi Achuta Ramarao, managing director of the company to kindly address the shareholders. Over to you sir. Thank you.

Mr. Mullapudi Achuta Ramarao: Thanks Sridhar. Ladies and gentlemen, I welcome you all to the 36th Annual General meeting of XT Global Infotech Limited. This meeting is held through video conferencing. This is in compliance with the circulars issued by the regulators. The company has taken all feasible steps to ensure that the shareholders of the company are provided an opportunity to participate in annual general meeting and vote. Adequate Video conferencing facility has been provided to the members of the company to participate in this meeting and vote. Register of Directors and key managerial personnel and their shareholders and register of contracts are arrangements within which directors are interested are available. These registers will remain accessible to the members for inspection electronically if they so desire. I wish to introduce for the benefit of new members, my colleagues on the board of the company. Mrs. Vuppuluri

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Sreedevi, executive Director. Mr. Venkata Appala Narasimha Raju Kalidindi, non-executive independent Director. Mr. Jagannatha Prasad Malireddy, non-executive, non-independent director. Mr. Sai Baba Karuturi, non-executive independent director. Mr. Srinivasa Raju Kosuri, non-executive, non-independent director. Mr. Srinivasa Pendyala, non-executive independent director.

Srinivasa Pendyala: Hello. Hi.

Mr. Mullapudi Achuta Ramarao: All the directors of the company are present at this meeting. Mr. Raghuram Kusuluri, Chief Financial Officer. Mr. Sridhar Pentela, company secretary and compliance officer are also present at this meeting. Apart from directors and KMPs, we also have with us Statutory Auditors and Secretary Auditors of the company. Mr. Ch. Veeranjaneyulu , partner of MSV CSR and associates, practicing Company Secretary Hyderabad, Secretary, auditor and scrutinizer for the 36th AGM for conducting e voting an insta poll, is present at this meeting. We also have Mr. N. Madhusudan Reddy, partner of MSV RAMACHANDRAM and Co. Chartered Accountant Hyderabad, statutory auditors of the Company. As confirmed by the Company secretary that the quorum for the meeting is present with the permission of the members, I call this meeting to order. Dear members, notice dated September 7th, 2024, convening this annual general meeting and a copy of the annual report for the financial year ended March 31st, 2024, have already been circulated to members of the Company electronically. With your permission, I shall take the same as read. The auditor's report on the standalone on consolidated financial statements and Secretarial audit report of the Company for the financial year ended March 31st, 2024, do not contain any qualification, reservation, adverse remark or disclaimer. Accordingly, these reports are not required to be read out as provided in Companies Act 2013. Dear members, as we gather for this annual meeting, I am filled with pride reflecting on what we have accomplished together over the past year. Amid its rapid technology shifts and unpredictable challenges, XT Global has remained not just a participant but a leader, a cornerstone of innovation and resilience. Our mission has been clear to drive transformation by embracing cutting edge technologies, enhancing agility, and reimagining the experience of both our customers and employees. The past year, we have worked alongside some of the world's feeding enterprises to lay the foundation for their digital features. Whether refining data architectures or revolutionizing business models, our efforts have gone beyond service delivery. We have helped our client achieve hyper personalized experiences and create groundbreaking products and services. Their progress has been nothing short of remarkable and in many ways a reflection of a collective vision and dedication. Despite the obstacles like geopolitical uncertainties and the rapid rise of AI, XT Global has remained resilient. Our investments in automation powered solutions, cloud computing and business process automation have allowed us to adopt shiftly and continue driving sustainable growth for our clients. I'm incredibly proud to announce that XT Global achieved a revenue of INR 21,713 lakhs for fiscal year 2324. This achievement speaks volumes about our strategic focus on digital transformation, customer centricity and operational efficiency. By consistently delivering innovative solutions, we have met the evolving needs of the business world. With the introduction of new services like accounting and bookkeeping outsourcing, we have ensured our clients are equipped with global talent that matches their unique needs. I would also like to highlight our growing presence in the industry through pre sponsorships and participation in events such as Blueprint 4D, ascent and the shared service and outsourcing week conference. These platforms have elevated XT global visibility and allowed us to engage with industry leaders, share insights and explore new collaborations. Our involvement in these events reinforces our commitment to staying at the forefront of industry trends and providing innovative solutions that cater to

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the evolving needs of our clients. But our story doesn't stop here. As we look ahead, we must stay agile and embrace the opportunities brought to by the ever-changing business landscape. The rise of generative AI, the shift in digital transformation strategies and the increasing importance of partnerships are not challenges, they are opportunities for us to grow and lead. The future is knocking at our door, and I know that together we are more than ready to answer. We have built strong partnership with key players like Microsoft, Oracle, AWS, UiPath and many others. These collaborations will be crucial as we continue to evolve our service offerings and bring even more value to our clients. It's no longer about surveying the challenges in the tech world; it's about thriving and staying a step ahead. Sometimes people ask me, Rama, how do you handle all of this. The tech revolutions, the evolving market are the global shifts. And I say, well, it's just like juggling, except we're on a moving train and the balls are on fire. But in all honesty, I would like, I would not want to juggle without anyone but this incredible team. We have all made the journey worth it and I can't thank you enough for this dedication. As you move forward, let's keep challenging the status quo, innovating and pushing ourselves to the next level. Success is not the finish line. It's a journey we are on together. I believe in each and every one of you, and I'm excited for what lies ahead. Thank you for your hard work and commitment to making XT global a beacon of innovation and success. The future is bright, and I know we all continue to achieve amazing things together. Finally, on behalf of the board of directors, I would like to express our sincere appreciation for the continued and consistent support received from all the shareholders of the company and also from the regulators, banks and other businesses constituents. I would like to thank you, my colleagues on the board, for their commitment, guidance, support and contributions made to the company. On behalf of the board, I also wish to acknowledge the commitment committed services of the employees of the company at all levels during this year. I would like to not last, but I would like to share good news that we have been trading on National Stock exchange for the last couple of weeks. Thanks for all the work, hard work done by our finance team for this. Now I request company secretary to take us to the. Okay, next slide please. Next please. Next. Next please. Thank you.

Moderator: Sir let me know where, where I have to stop. Thank you.

Mr. Mullapudi Achuta Ramarao: Yeah, you can. Yeah, that's fine. Thanks for sharing the slides. Thank you. Now I request company secretary to take us through the agenda items of annual general meeting and followed by the general guidelines of questions and answer session. Thank you.

Sridhar Pentela: Thank you sir. Thank you for addressing the shareholders. Now let's go to the agenda items. Dear shareholders, we have total six agenda items for the approval of members today. I'll read out each of them for your convenience. Two items are of ordinary business which are adoption of auditors, standalone and consolidated financial statements for the financial year ended March 31st, 2024, together with the reports of the board of directors and auditors thereon to be passed as an ordinary resolution.

Second is to appoint Mr. Mullapudi Achuta Ramarao, managing director who retired by rotation and being eligible, offered himself a reappointment to be passed as an ordinary resolution and remaining four agenda items are special businesses which are :

Reappointment of Mr. Mullapudi Achuta Ramarao as a managing director of the company for a term of five years to be passed as an ordinary resolution.

Reappointment of Mr. Mallireddy Jagannatha Prasad as a non-executive, non-independent director of the

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company to be passed as an ordinary resolution.

Approval of related party transactions for the financial year 2024 - 25 to be passed as an ordinary resolution.

To make investments, give loans, guarantees and security in excess of limits specified under section 186 of the Companies Act 2013 to be passed as special resolution.

The objectives and implications of the resolutions proposed at the AGM are already set out in the notice of the AGM and therefore not being repeated. In case members wish to seek any clarification, they may raise it in question-and-answer session. Now coming to the question-and-answer session. Few of the shareholders registered as speakers. Accordingly, the floor will be open once the name of the speaker shareholder is called out by the moderator, the person will be unmuted by the host to enable them to speak. Before speaking, the shareholders are requested to click on the video as well as audio icon appearing on the screen to switch it on. Because of some reasons, if shareholders are not able to join the video mode, he or she can still speak in the audio mode. If there is any connectivity problem at speaker send, the host will mute the speaker, and the next speaker will be invited to speak. Those shareholders who have not registered as speakers but still desired to raise any questions may kindly use the chat box provided on the screen, or they can send their query through email. We will respond to you accordingly. I request the speakers to be brief and not to repeat the questions made by the earlier shareholders. I request the moderator to invite speaker shareholders in order of this sequence please. Thank you.

Moderator: Thank you. I request our first speaker, Mr. Kamal Kishore Jawar to kindly unmute your audio switch on your video and proceed with your question. No response received.

Moderator: I request Mr. Srikant Jabber to kindly unmute your audio switch on your video and proceed with your question.

Mr. Srikant Jabber: सर मेरा आवाज आ रहा है सर

Moderator: You are audible.

Mr. Srikant Jawar: Respected Chairman, all our boarders नम�ार ये िविडयो का���स के मा�म से अपना मीिटंग सर। और इसी तरह िविडयो का���स मीिटंग रखेगा सर और हमारे K Fin Tech का सिव�स भी अ�ा है और साथ म� हमारे �ू कंपनी से�ेटरी को भी नम�े . जो िटममे बैल�स शीट मेल करने के बाद भेजा है। सर आगे अपना वक� है बताइए और आज ब�त खुशी की बात है जो अपनी कंपनी NSE िल��ंग करा है ब�त बड़ी खुशी की बात है आगे से अपना 2 साल का �ा �ान है कोई ए��टीशनहै इसके बारे म� बताइए वन िमनट सर .

Kamal Kishore: चेयरमैन सर मेरा नाम कमल िकशोर ऑलरेडी वोिटंग कर चुका �ँ �ीकर न कर रहा �ँ my holding 2500 already वोिटंग कर चुका �ँ आपका से�ेटरी िडपाट�म�ट ब�त अ�ा है हमको मेल से बैल�स शीट भी िमल गया है आपका चेयरमैन िह��ी ब�त अ�ा है साब इस कंपनी म� (Not Clear) िजसके म� 2000 शेयरहो�र �ँ साब . और आप टेकओवर करने के बाद कंपनी मजबूत बना रहा है इसिलए खुशी है हमारे को। ये आते अ�े तर�ी करे और NSE का भी िल��ंग �आ हे इसकेिलए भी ब�त बड़ाई आते सौ दशहरा दीपावली के शु�कामनाय�

Kamal Suresh Srikant: आदयणीय चेयरमैन सर उप���त सारे बोड� का डायरे�स� औरशेरहो�र सािथयों िसर म�

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इस कंपनी का भी ब�त पुराना शेयरहो�र �ँ और आपने काय� जो िकया है ब�त ही सु�र तरीके से आपने जो कंपनी के �प का हमारे सामने रखे उसके िलए ब�त ध�वाद सर बस भगवान से यही �ाथ�ना करता �ँ आप इसी तरह िदन दुगनी रात चौगुनी करता रहे

Moderator: May I request you to please introduce yourself.

Kamal Suresh Srikant: Sir म� कमल सुरेश �ीकांत

Moderator: Thank you.

Moderator: Okay. Thank you. Sir. You can proceed.

Sridhar Pentela: Sir Actually. Sir actually thank you shareholders for asking questions. Sir actually they are asking next two years future prospects of the company sir.

Mr. Mullapudi Achuta Ramarao: Yes, thank you again. Kamal Kishore and others there. Yes. So we definitely, we have plans to extend increase the size of whatever we operations we are doing within India. We want to get more into Indian market and other markets outside in US right now. That's the plan we have. And then we are looking to possibly do some acquisitions as well in the next year or two coming in. So, we believe very much. Very much. And all the plans that we have in terms, in terms of actually the one we took over the company of frontier right the plans that we have getting into NSE is the last step of the plans and we are able to accomplish that within last couple of weeks now that we are going to move forward to increase our growth revenue, employees and even other geo markets like EMEA and other places as well in the next few years. Thank you again.

Sridhar Pentela: Thank you, sir.

Moderator: Thank you. Thank you. We'll move on. I request our next speaker Mr. Praful Chavda to kindly unmute your audio switch on your video and proceed with your question. No response received. I request Mr. Ramesh Mangaluri to kindly unmute your audio switch on your video and proceed with your question. No response received. I request S. Karuna Sagar to kindly unmute your audio switch on your video and proceed with your question. No response received. I request Mr. Afzal Narsufi Mohammed to kindly unmute

Mr. Afzal Narsufi Mohammed: Hello. Hello. You can hear me.

Moderator: Yeah. You are audible. Kindly proceed. Thank you.

Mr. Afzal Narsufi Mohammed: Yeah. Thank you very much moderator I am very happy. I am the shareholder of XT Global. Sir, we don't have any words to explain because the company is very performance good. Share price also increasing. But I have a request. Sir, please make AGM in before September. No sir, because today we have lot of meeting. We can't attend every meeting, sir, because the network issue will come. That is the reason I am requesting. I don't want to waste your time. Because network issue will come, and I can't attend your meeting and can't hear your speech. Sir, once in a year we can see and we can hear your speech, your beautiful, beautiful words. We can't do that. That much of time to spend, spend this time. But I am requesting please make AGM in before September. Another thing

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secretarial Department doing very well. He's giving link and he has given annual report in proper time. I'm very happy that in company to shareholder between company secretary is there. That is perfect means share, company also perfect. So, thank you secretarial department and thank you K Fin Tech for giving this opportunity. Thank you very much for giving support. Thank you, sir.

Mr. Mullapudi Achuta Ramarao: Thanks for call.

Moderator: Thank you. Now I request Miss Sajida Begum to kindly unmute your audio switch on your video and proceed with your question. No response received. I request Mr. Raghuveer Rao Marneni to kindly unmute your audio switch on your video and proceed with your question. No response received. I request Mr. K. Bharat Raj to kindly unmute your audio switch on your video and proceed with your question.

Mr. K. Bharat Raj : Yeah, very good morning chairman entire board of directors. I'm Bharat Raj joining from Hyderabad. Sir. First of all, wonderful chairman speech and under leadership my company is growing sir. And the share price is also appreciating. I thank for All KMP CFO CS for wonderful performance. This is nothing of leadership, Sir. Chairman. Sir, present in Andhra Pradesh new government has come. Are you planning to shift our office into Vizag or what is the future plan Please let me know. Apart from that sir, what are you for Expansion of our company? Any plans for the right issues, please let me know. And third question is how many orders are there? What is how many projects are even in hands? Please let me know. Once again, my best wishes to you and thank my secretarial department. In time they send me the link and they're always accessible. And I thank my CFO, he is wonderful for (Not Clear). Always accessible. Once again, my best wishes to entire Board of directors, chairman. Thank you. And Bharatraj sir signing up from Hyderabad with me Reddappa Gundluru is there sir. He's also a speaker's shareholder. Please allow him to talk, sir. Thank you.

Reddappa Gundluru: Can I proceed, sir?

Mr. Mullapudi Achuta Ramarao: Yes. Yes sir,

Reddappa Gundluru: Chairman sir. Please give me permission to speak, sir.

Mr. Mullapudi Achuta Ramarao: Yeah you can

Moderator: You can proceed, Thank you.

Reddappa Gundluru: Chairman sir, board of directors and other financial leaders. Wonderful leaders. XT Global, especially my chairman MD garu Mullapudi Rama Rao Sir and also Sridevi madam garu, Raghuram garu and also other directors. Good morning. Namaste. Myself Reddappa Gundluru from Hyderabad. As a shareholder, I'm very happy, proud about the company performance as a more than one and a half decade associated with my company. As a shareholder, sir, I'm a financial analyst, stockbroker, stock market analyst and also stockbroker with Motilal Oswal sir. So, I'm very happy to speak with the professional board. Sir requested for the annual report. I received the annual report well in advance. I got through the annual report. So, there is a quality in Numbers, figures, pictures, everything's quality, sir. We are in software development. We have very good the SAP projects, other projects wonderfully sir growing. So, thank you for everything. Thank you for everything, thank you for financial growth. Everything is

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correct, sir. So here my question is, sir. And also, I would like to congrats for the certification of certificate. Many more certification we achieved in this financial year. Recognition is there, wonderful ROE and also wonderful everything is there, sir. So special thanks, kudos to all our KMP's. Especially our MD garu Mullapudi Rama Rao garu in your leadership. We are really wonderfully achieving, sir. Special thanks. Our Raghuram Garu, CFO and all the KMP's, they are always reachable if you have any queries, they used to talk very well by asking about me and all. I received annual report on time. As a shareholder, I am very proud, happy in this company Mullapudi Ramarao sir, I feel very proud that's the reason I support all the resolutions Sir. My question is, sir, what is your vision? Two to five years. What is the plans, what is the capex, what is the roadmap? So, I would like to know, sir, apart from this, I don't have single question from the balance sheet. I don't have sir and support all the resolution e voting has been done. No queries. I would like to thank my company secretary K Fin, everybody their teamwork. Sir. That is, we are smoothly conducting the AGM. Sir, I must humble requested sir, please conduct our AGM in the September 1 week or August 4 week so that we can conduct smoothly. that is my personal opinion sir. And sir, please comment on promoter holding sir, you can increase. We have very good results and all. So, thank you sir. We have. We have faith on you. Trust on you. Go ahead. A proper decision to my company growth. We have 100% faith on you. Definitely will achieve many higher awards in coming financial year. That's the reason I wish good health to you, happiness to you, peace to you and me. And I pray to God for good wisdom strength to the company to go to the next level. I pray to God will give shower kiss blessings upon our company, sir. God bless you, sir. Stay safe, sir. Thank you. Namaste.

Mr. Mullapudi Achuta Ramarao: Yeah, thank you very much for your call. I just want to just briefly take a couple of minutes to answer both of your queries. First and foremost, obviously because of change in government, we are not going to just move to Vizag from Hyderabad or anything. But we do have a big facility in Vizag. About couple of two lakh square feet of SFT that's available for us. Our intention is to grow and fill most of the space available with projects coming out. So that will in fact add employees as well as add our revenue. And that's the plan. And then we do have plans to grow within India in the Indian market. It's picking up. We want to grow there and look at other target markets next two to five years. Our plan is to basically get to the mid-market size company and 90 is what we are trying to get to compare so that we have high plans in growth of our company across, I would say geographies as well. On top of that, I would want to bring about the rights issue or anything. I can tell you with our period of next year or so. We do plan to weather rights or something we would like to Look at see what are the options that we have available to maybe rise the mutual funds within the company to the company to be able to grow little faster than what we are is what it is. Definitely. That's something that is in our minds right now. Thank you again for the call. And we will do consider next AGM to see if we can push it earlier than what it is right now. Okay, thank you.

Moderator: Thank you. I request our next speaker S. Bhanu Kumar Raju to kindly unmute your audio on your video and proceed with your question. No response received. I request Mr. Ramesh Shankar Gola to kindly proceed with your question. No response received. I request Mr. P. Jai Chand to kindly proceed with your question. No response. With that, we conclude the question answer session. May I hand it back to the board to continue with the rest of the session please.

Sridhar Pentela: Thank you ma'am.

Moderator: Thank you.

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Sridhar Pentela: I extend my heartful thanks to all the directors on the board for their continuing support and guidance. Additionally, I would like to express my gratitude to the representatives of K Fin Technologies Limited, the registrar and share transfer agents of our company who have provided the platform for conducting this AGM via video conferencing and offered other necessary facilities contributing to the success of this meeting. None of these achievements would have been possible without the collective support of our stakeholders, including government authorities, various agencies, bankers, suppliers, customers and most importantly our shareholders. The continued confidence in our management and the company's performance is deeply appreciated. I would like to take this opportunity to thank everyone who has supported and guided us throughout the year. I thank you each and every one who has supported and guided us throughout this year. Last but not the least, I want to express my gratitude and appreciation to all the senior management leaders, managers, deputy general managers and employees of XT Global. Your high level of motivation, commitment, hard work and support have been instrumental in achieving the remarkable success of our company. The agenda of the meeting has been duly transacted and there being no other business, with the permission of the chairman, I would like to conclude the meeting. I thank you all for participating in this meeting and request you to cast your votes. As already discussed, Insta poll is poll platform will remain open until 15 minutes of conclusion of this meeting. Therefore, I once again request all the shareholders to cast their votes. If not, voted yet. Now with the permission of the chairman, I would like to conclude this meeting and express my gratitude for your kind presence and participation. Thank you so much.

Mr. Mullapudi Achuta Ramarao: Thank you all. Thank you.