Dear Logistics and Lighting Team Members,

First of all Sorry for delay in the Annual Communications due to some personal engagements last week.

Big Thank You to all my Senior Leadership Team at HO of Sanjay Sharma, Atul Rastogi, Vikrant Sareen, Rajesh Gupta, Manish Dangwal, Gagan Deep, Sanjeev Arora, Anuj Maheshwari , Bittu , Nitin Kumar and Warehouse Managers Abhishek Misra, Devki, Rajender Sati, Dushyant , Joel Dsouza, Ramesh , Prashant, Ashish, Amit, Siddharth , Naveen, Devang and all their team members. Team is big so naming every member is difficult but all of you are playing Important roles and will continue to do so in 2024!. We also Welcome all our CBS sales co ordinators and Lighting Sales co ordinators. Few to name Krishna, Yogesh kataria and Yadav, Akush, Kushal, Karamvir, naveen, Hanumantha, Piyal, Ashish, Sujoy , Gautam, Shubham, Manjeet & Rinkoo.

This Year I am first listing down the Priorities for 2024 before we discuss other LEADERSHIP/ Career/ Team work few points to think . Personal finance ( Focus on mutual funds) and Artificial Intelligence Impact on our lives.

1 We all have to continue to work on stabilisation of Oracle software and see what all Efficiencies we need to bring to Improve productivity in 2024. We still have to cover Unit 5 and Unit 1 This year. 2 3Pl manpower optimisation continues to be focus area to reduce cost of operations. 3 We have started the Audit of all our Major AD warehouses and plan to complete in next 2 months. We have to suggest to them on storge guidelines, Secondary Milk run distribution and Warehouse Infra 4 Installation of conveyors at Unit 5 for In plant Automation has started for Connecting Sanitaryware plant and warehouse and will likely to get completed by Middle of 2024. 5 Installation of 2 additional Cranes of Daifuku at Unit 1 with additional mezzainine and Conveyors will be completed by April 2024 6 We are working on Automation of Glass Plant Unit 3 and Unit 2 which we hope to conclude in Q4 FOR FY 2023. 7 We are going to Install additional Racking in Warehouses at Mumbai / Manesar / Bangalore. 8 New Warehouse at Mehsana will be Operation by Feb 2024 for which new Racking have already been ordered. 9 In lighting we have Target of doing 98% Billing from the Depots and Ensure 98% Raw material availability as per the forecast and production plan 10 In procurement we have to reduce the BOM cost with alternate sourcing, increasing the credit limit from Suppliers and reducing the Air freight cost.

Leadership and Team building Trust Lessons for 2024 ! – Success comes via Team Work. 1 Team is group of people who Trust each other and give extra ordinary results. 2 Trust in the team Expands when Boss does not hit his subordinate when subordinate is Vulnerable and needs support 3 Trust in Teams is absolutely Important, Its like air we breathe when present no body notices , when absent everybody feels. 4 Every Team is as good as its weakest link so we need to Strengthen the WEAKEST Link. Team that Executes flawlessly generates best results. 5 Putting Right people in Right Job does not happens by chance , Team leader has to Plan and Execute this. Leaders who deliver results consistently well over period of time are the ones who recognise what Individuals can do best consistently over period of time 6 Team Leader needs to develop his team member capacity by helping him channelising his talent and develop their abilities so that he can advance to next level. 7 Holding Good team together is a Chemistry that’s not find any Text book , nor it can be manufactured by Policy. 8 Good Decision making comes with experience and experience comes with making Bad decisions. 9 Most Valuable resource TEAM Leader can give to his team is his time, So Listen to team members, Execute flawlessly is the key to next Level !

How to You Make good Career and Is Money Important ? Some of the points Jotted done from books I have read. 1 Gary Golfer said, “ Harder I practice luckier I become. Michael Gladwell rule says, if you need to be good at some thing you need to practice it for 10,000 Hours. Follow these rules. 2 Excellence is compound effect of Impact of repetitive learnings to Perfection. When you work hard EXTRA HOURS you make up in numbers what you lack in Skill. 3 Life is designed to give us what we deserve and not what we desire. 4 Jim Rohn said, Income does not far exceed Personal Development. Opportunity is always mixed with difficulty . In life and career , don’t wish it was simple, wish for more skill set 5 Always Keep a Note book your entire career, don’t trust your memory , any thing Important Just note it down in your Black Diary. Keep these Journals as part of Your Library and refer regularly. 6 Career learnings are summation of 30% Development on the Job, 10% learning by mentoring by Superiors, 20% learnings from Suppliers, Customer , peers, 15% from Seminars and Training programs. 7 Balance 25% Self development through Websites, U tubes, Manuals, Books – DO This on daily basis. 10 You cannot follow anyones career , Good careers are like Marathon and not sprints. 35-40 Year Career cannot be won in 2-5 Years. There are bound to be turns/ twists before you reach your final destination. Don’t Measure yourself by amount of money you are making , if you are Good money will follow, if you are making money you may or may not be good.

Lets Now Focus on learning one New Area in 2024 WHICH is going to Impact us in big way – “ Artificial Intelligence”

1 Artificial Intelligence or AI is going to change the Overall Job landscape in coming years. This is going to Impact every part of our lives in next 1-5 years. This is as big as Internet in year 2000. 2 Artificial intelligence (AI) is a branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. 3 From the development of self-driving cars to generative AI tools like ChatGPT and Google’s Bard, AI is increasingly becoming part of everyday life. AI examples include: Siri, Alexa Conversational bots. 4 Generative AI, also referred to as GenAI, allows users to input a variety of prompts to generate new content, such as text, images, videos, sounds, code, 3D designs, and other media. It “learns” and is trained on documents already exist online . Machine Learning is Sub field of AI its program or system that trains a model from Input data.. 5 ML gives computers ability to learn without Explicit programming. Deep leaning is further subset of MACHINE Learning. Deep learning Involves multiple layers of Neural networks allowing them to produce more complex patterns than Machine learnings, 6 Generative AI is subset of DEEP LEARNING. Generative AI is type of Artificial intelligence that creates new content based on what it has learnt from existing content. Process of learning results in Statistical Model , GEN AI uses this Statistical Model to predict what an expected response might be and generates new content. 7 Goldman Sachs thinks artificial intelligence will add $7 trillion to the global economy over the next 10 years. It also expects businesses will spend $200 billion per year on AI hardware and software by 2025. 8 Companies like Nvidia and Microsoft in particular will be huge beneficiaries of that spending and lead the AI Innovation in the World. AI will Impact every business especially Drug discovery , health care , Banking, Supply chains, Insurance , manufacturing 9 Which jobs AI will replace? “Examples include data entry, basic customer service roles, bookkeeping, teaching, traders, Financial analysts , financial advisors ” Even assembly line roles are at risk because robots tend to work faster than humans and don't need bathroom breaks. 10 Will ChatGPT replace programmers? The short answer is no, ChatGPT will not replace programmers entirely. However, it has the potential to automate some aspects of programming, such as code generation, bug fixing, and documentation. ChatGPT can learn from vast amounts of code and data, making it possible to generate new code similar to existing code. The golden Era of Software developers will be over. 11 How do I protect my job from AI? Upskill and reskill: The most important step to take in order to protect your job from being taken over by AI is to continuously upskill and reskill yourself. This means staying current with the latest technologies and learning new skills that cannot be easily replicated by machines. Coming to Last Segment of Our communication of Personal Investment and India Story :

• India Continues to be worlds fastest growing economy with growth rate of 6-7%. With Positive Assembly Elections in Dec 2024, chances of BJP coming to Power is forgone conclusion for Stock Market. • 2023 Has been one of the best years of Stock market return where Index, Large/ Mid/Small cap all have given positive returns. • Experts Believe 2024, Large caps give better returns as compared to small and Mid cap funds as FII Money chases large caps which is expected in 2024 • With Interest rates in US likely to come down in 2024 June and then eventually rates will come down in India also , Markets are likely to give double digit returns in 2024. • If you are still sitting on the Sidelines and still not Investing, Your children when grown up will ask you as to why you did not Invest in India growth story form 2020-2030 ?? • Please open Demat if not done and NPS Account. Last month 40 Lacs Demat accounts were opened in India. Overall now 12 cr DEMAT accounts are in india. • In USA 58% of people Invest in stock Market, In India we still not have reached even 10% so huge potential is there
• We have already demonstrated how 2-3 percent increase in returns can have huge Impact on your returns over long period of Investing. The Power of Compounding ? • Start Investing in Index / Mutual Funds with 1000/- to 5000/ 10,000 as per your capacity , NPS is ( Tax saving Instrument mIn 50 k for all must go in this Instrument ) , • Some fund recommendations on Top performing funds are below and some knowledge sharing on Types OF FUNDS and those seeking the names of funds for Investment.

Large Cap Fund : HDFC Top 100, Nippon india large cap fund Mid cap funds : HDFC MID CAP opportunity fund, Nippon india mid cap Small Cap Funds : Invesco India small cap , franklin india small cap Multi cap Funds : These funds have 25% funds in each Large/ mid/small cap balance 25% in fund manager choice : nippon India Multi cap, ICICI PRI MULTICAP FUND Flexi Cap funds : Min 65% in EQUITY which can go upto 100% EQUITY , No Cap ON ANY Particular type of shares Large / small Or Mid cap : Parag Parikh Multi cap is recommended. Multi Asset Allocation fund, Funds which have More than 2 Asset class – Equity, Debt, Gold, REIT , min 10% in each asset class , min equity is 65% here. All funds who need to qualify for long term capital gains then minimum 65% has to be in Equities, Suggested ICICI PRU MULTI ASSET , QUANT MULTI ASSET

Balanced Advantage – Balance in Equity and fixed income ( Debt) , Min 30% equity max upto 80%, You can switch between Equity to debt and debt to equity based on Market conditions. Whenever Volatile market they are HDFC Balanced advantage Fund

Aggressive Hybrid Fund : 65% EQUITY AND 35% Debt , min risk Capacity ICIC PRU EQUIRT and Debt Contra Fund, - runs against TREND, contrary to trend, risk is high , you have to wait for 1-3 years SBI Contra funds. Currently Investing in IT funds is contra bet

I End with my common Guidelines for Investment, Once you have 6 months Emergency fund, 10 % VPF, 25 to 75 Lacs term Policy start your Investment Journey by as little as Rs 1000/-

• Start with SIPs and do Lumpsum Investments when market falls by 1-2% from its Peak, Every 1 per cent fall put additional lumpsum amount. • Invest for period of 3 years to 10 years for your Child Education / Home/ Retirement Planning. • Please do not do trading in stocks, if you understand market can buy shares of companies directly , companies who have high growth , High ROE and are market leaders in their Sector

Real Estate Investment Buy Real Estate only around 40 years when you have min 20% down payment and balance EMI you can complete in 15 years. Value of property should not be 5 times your TCTC.

• I Continue to be Bullish on Dwarka Expressway Real Estate for End Users, the Highway will be ready by April 2024 before Elections and will be world Class Infrastructure Project in NCR. The Rental and Rates have appreciated by 50% last year and will Continue to Appreciate when Dwarka Expressway will be connected to UER 2 . Plus Rapid Rail from delhi to Alwar will also connect in next 3-5 years so all in all Good Investment for those who do not believe in Equity

Happy new year and all the best for 2024 !!