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Disclosure

• No material action has been taken against DSIJ Pvt. Limited – Investment Advisory Unit (“DSIJ”) by any regulator.

• Research analyst or his/her relatives or DSIJ or its associates may have financial interest in the subject company in ordinary course of business.

• Research analyst or his/her relatives do not have actual/ beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.

• DSIJ or its associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.

• Research analyst or his/her relatives or DSIJ or its associates may have other potential / material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of the research report.

• Subject company may have been client of DSIJ or its associates during twelve months preceding the date of publication of the research report.

• DSIJ or its associates may have received compensation from the subject company in the past twelve months.

• DSIJ or its associates have not received compensation or other benefits from the subject company or third party in connection with the research report.

• Three year price history of the daily closing price of the securities is available at www.nseindia.com and www.bseindia.com.

STANDARD DISCLOSURES OF INVESTMENT ADVISORY UNIT (CRU) TO THE INVESTMENT ADVICE Unless otherwise stated in the Investment Advice these are the standard disclosures and shall construed to be a part of each of the investment Advice.