Highnoon Laboratories : Transmission of Annual Report for the year ended 31 December 2022

Innovate to

Accelerate

A n n u a l R e p o r t 2 0 2 2

Annual Report 2022

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CONTENTS

Our Core Values	26
Financial Highlights	28
Company Information	29
Notice of Annual General Meeting	30
Chairman's Review	36
Directors' Report to the Share holders	40
Six Years at a Glance	52
Graphical Presentation	54
Statement of value addition and its distribution	55
Horizontal & Vertical Analysis	56
Pattern of Shareholding	60
Statement of Compliance with Listed Companies	64
(Code of Corporate Governance) Regulations, 2019
Independent Auditor's Review Report to the	66
members of Highnoon Laboratories Limited
Financial Statements of Highnoon Laboratories Limited
Independent Auditor's Report	68
Unconsolidated Statement of Financial Position	72
Unconsolidated Statement of Profit or Loss	74
Unconsolidated Statement of Comprehensive Income	75
Unconsolidated Statement of Cash Flows	76
Unconsolidated Statement of Changes in Equity	79
Unconsolidated Notes to the Financial Statements	80
Consolidated Financial Statements
Group Directors' Report to the Shareholders	146
Independent Auditor's Report	150
Consolidated Statement of Financial Position	154
Consolidated Statement of Profit or Loss	156
Consolidated Statement of Comprehensive Income	157
Consolidated Statement of Cash Flows	158
Consolidated Statement of Changes in Equity	161
Consolidated Notes to the Financial Statements	162
Proxy Form
Ballot Paper

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Highnoon Laboratories Limited

Innovate to Accelerate

We believe in taking risks and embracing change. We're constantly leveraging modern technologies, creating differentiated offerings, pushing the boundaries of

what's possible and seeking new ways to accelerate our progress.

Innovation breeds progress and growth. And we're determined to create a culture of creativity and collaboration to encourage our people to think outside the box and embrace new ideas.

At every step, we remind ourselves that these innovations are not only for our profitability. We also have to make a positive impact on the world. Whether it's supporting local communities, reducing our environmental footprint, or promoting ethical business practices, we are making a meaningful difference through our Environmental Social Governance program.

So let us embrace innovation and all that it represents. Let us be bold, daring, curious and creative and use our passion to strive for a brighter future. For with innovation, anything is possible, and possibilities are limitless.

Achieve

to Celebrate

A n n u a l R e p o r t 2 0 2 2

Empower to Care

Inform

to Enlighten

Innovate to Sustain

Passion

to Progress