WIXLIB

PRODUCTPROFILEABSOLAC / NOVODUR (ABS)ABSOLAC / NOVODUR is a plastic resin produced fromacrylonitrile butadiene styrene (ABS). ABSOLAC is produceexclusively in India. The products are available pre-coloured andcan be tailored to your needs.INEOS Styrolution's specialty acrylonitrile butadiene styrene (ABS)copolymers feature grades characterised by easy processing ease,high aesthetic colourful surfaces and excellent paintability, as wellas good impact strength and heat resistance. They also exhibithigh adhesion strength required for electroplating, as well as goodmechanical strength and chemical resistance. It has applicationsdiverse from automotive exterior: radiator grilles, light housingspoiler, helmets and automotive interior: loudspeaker grilles.Housing for electronic devices, household applications and officeequipment.ABSOLAN (SAN)INEOS Styrolution's styrene acrylonitrile polymer (SAN) portfolio isavailable for the local market in India. ABSOLAN grades feature avery well balanced property profile ranging from excellenttransparency and good chemical resistance to high stiffness, andgood dimensional stability. It has applications diverse fromindustrial goods, stationery, electrical appliances, householdapplications and cosmetic jars.LURAN S (ASA)INEOS Styrolution's acrylonitrile styrene acrylate (ASA) polymersare the benchmark styrenic polymer for weather resistance. Thegrades in the Luran S portfolio feature high surface quality,excellent chemical resistance and good impact strength, includingenhanced color fastness and superior long-term performancewhen exposed to UV irradiation and heat. It has applicationsdiverse from automotive exterior: radiator grilles, mirror housingsand automotive interiors: overhead compartments. Householdapplications, PVC cap stock for sheets, sidings, roof tiles andgardening equipment.

NOVODUR HIGH HEAT (ABS HH)INEOS Styrolution's speciality acrylonitrile butadiene styrene(ABS) is the material of choice for heat resistance and aesthetics.The copolymers feature grades with a well-balanced mix ofproperties for injection molding, including good impact strength,dimensional stability and heat resistance. Novodur high heat iseasy to process and creates highly aesthetic, colourful surfaceappearance. The versatile product line is available pre-colouredand contains products with unique features to fit the mostdemanding product applications. Like for automotive exterior:mirror housings, light housings, front grills, trims and forautomotive interiors: glove box, centre consoles and instrumentpanel trims. Vacuum cleaners housings and coffee machines.STYROLUTION PS General Purpose Polystyrene (GPPS)INEOS Styrolution's STYROLUTION PS-General PurposePolystyrene (GPPS) resins are transparent polymers suitable forinjection molding and extrusion applications. Uses for theseproducts vary from food service and food packaging torefrigerator components, healthcare and diagnostic and lab wareas well as XPS insulation. Flexible property makes it ideal for toys,cases, hangers, plastic cups, IT equipment, jewel boxes,disposable medical products, bath accessories and gardenequipments.STYROLUTION PS-High Impact Polystyrene (HIPS)INEOS Styrolution's STYROLUTION PS-High Impact Polystyrene(HIPS), impact modified PS resins are a line of robust gradesdesigned to fulfil a variety of customer's needs. Whether theapplication is intended for a single use yogurt cup or a durablerefrigerator liner, STYROLUTION PS HIPS resins can meet thedemands of technically challenging applications. Keyapplications are Electronic goods housings, Refrigerator linersand parts, Toys and Stationary products, household items, Foodpackaging products like cups, dishes, containers, yogurt bottlesetc.Driving Success. Together.

5 YEARSSTATISTICAL INFORMATION( in 2Equity Share CapitalOther EquityTotal EquityBorrowings - Long TermFunds EmployeedNet Worth per equity (Rs)Current .264,451.82,300.066,751.8366.51.9YEARINCOME AND ,622.537.74.010.3%Sale of goodsProfit Before TaxTaxProfit After TaxEarning Per Share (Rs)Dividend Per Share (Rs)Return on Net worthSale of Goods195,011( in lakhs)Profit After 2472019-20-9522020-212021-22

CONTENTSCorporate Information02AGM Notice04Board’s Report24Management Discussion and Analysis34Annexure - I - Corporate Governance Report38Annexure - II - Annual Report on CSR Activities65Annexure - III - Statement of Disclosure of Remuneration74Annexure - IV - Form AOC- 275Annexure - V - Conservation of Energy, Technology Absorption,Foreign Exchange Earnings and Outgo78Annexure - VI - SHE policy80Annexure - VII - Secretarial Audit Report81Business Responsibility Reporting86Independent Auditor's Report101Financial Statements1131Driving Success. Together.

INEOS Styrolution India LimitedCORPORATE INFORMATIONBoard of DirectorsMr. Robbie Alphons Maria BuntinxMr. Sanjiv VasudevaMr. Sanjeev MadanMr. Anil ShankarMr. Vinesh SadekarMs. Sandra MartyersChairmanManaging Director & Chief Executive OfficerWhole-time Director & Chief Financial OfficerIndependent DirectorIndependent DirectorIndependent DirectorKey Managerial PersonnelMr. Sanjiv VasudevaMr. Sanjeev MadanMr. Abhijaat SinhaManaging Director & Chief Executive OfficerWhole-time Director & Chief Financial OfficerHead Legal and Company SecretaryBoard CommitteesAudit CommitteeNomination andRemunerationCommitteeCSR CommitteeStakeholdersRelationship andGrievanceCommitteeRisk ManagementCommitteeMr. Anil ShankarMr. Vinesh SadekarMr. Anil ShankarMs. Sandra MartyersMr. Vinesh SadekarMr. Vinesh SadekarMr. Anil ShankarMr. Vinesh SadekarMr. Anil ShankarMr. Sanjiv VasudevaMs. Sandra MartyersMr. Robbie AlphonsMaria BuninxMr. Sanjiv VasudevaMr. Sanjiv VasudevaMr. Sanjeev MadanMr. Robbie AlphonsMaria BuntinxMr. Munjal ParekhStatutory AuditorsM/s. Deloitte Haskins & SellsRegistrar and Share Transfer AgentM/s. Link Intime India Private LimitedB-102 & 103 Shangrila Complex, First Floor, Near Radhakrisha Char Rasta Akota,Vadodara,Gujarat-390020Phone No.: 91 265 6136000E mail: vadodara@linkintime.co.inBankersThe Hong Kong and Shanghai Banking Corporation Limited (HSBC)ICICI Bank Limited2(Employee - Head ofBusiness Partnering India& SM Asia,Finance)

Registered Office5th Floor, Ohm House-II,Ohm Business Park, Subhanpura,Vadodara - 390 023, Gujarat, IndiaTel: 91 265 2303201, 2303202Website: www.ineosstyrolutionindia.comE-mail: INSTY.secshare@ineos.comNandesari Plant51, GIDC Industrial Estate, Nandesari - 391 340,Dist. Vadodara, GujaratPhone No.: 91 265 2840319, 2840285, 2840559, 2841010Moxi Plant and R & D CentreSankarda-Bhadarva Road, Post : Poicha - 391 350,Tal.: Savli, Dist.: Vadodara, Gujarat.Phone No.: 91 2667 244350, 244370, 244380Katol PlantHalol-Kalol Road, Katol - 389 330,Taluka Kalol, Dist. Panchmahal, GujaratPhone No.: 91 2676 235980, 235891, 235802, 235803.Dahej PlantDahej Village, Vaghra Taluka, Dist.: Bharuch - 392 130Phone No.: 91 2641 273318, 2560213Driving Success. Together.

INEOS Styrolution India LimitedNOTICETo,The Member(s),INEOS Styrolution India LimitedNotice is hereby given that the 49th Annual General Meeting (AGM) of the Members of INEOS Styrolution India Limitedwill be held on Wednesday, August 10, 2022 at 11.30 a.m. through Video Conferencing (“VC”) / Other Audio-VisualMeans (“OAVM”).The venue of the meeting shall be deemed to be the registered office of the Company at 5th Floor, OhmHouse-II, Ohm Business Park, Subhanpura, Vadodara - 390 023, Gujarat:Ordinary business:1. To receive, consider and adopt the audited financial statements of the Company for the financial year endedMarch 31, 2022, including the Balance Sheet as at March 31, 2022, the statement of Profit and Loss for the year endedon that date along with the reports of the Board of Directors and of Auditors thereon.2. To confirm the payment of interim dividends on equity shares asMarch 31, 2022.final dividend for the financial year ended3. To appoint a director in place of Mr. Robbie Alphons Maria Buntinx, who retires by rotation, and being eligible, offershimself for re-appointment as a Director liable to retire by rotation and in this regard, to consider and if thought fit, topass the following resolution as an Ordinary Resolution:“RESOLVED THAT in accordance with the provisions of Section 152 and other applicable provisions of theCompanies Act, 2013, Mr. Robbie Alphons Maria Buntinx (DIN: 08830690), who retires by rotation at this meeting, beand is, hereby re-appointed as a Director of the Company, liable to retire by rotation.”Special business:4. To appoint Ms. Sandra Martyres as an Independent Director of the Company and in this regard, to consider and ifthought fit, to pass the following resolution as a Special Resolution:“RESOLVED THAT in accordance with the provisions of Sections 149 and 152 read with other applicable provisions ofthe Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014 readwith the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, [including anystatutory modification(s) or re-enactment(s) thereof, for the time being in force], Ms. Sandra Martyres(DIN: 00798406), who was appointed by the Board of Directors as an Additional Director of the Company, with effectfrom May 16, 2022, in terms of Section 161 of the Companies Act, 2013 and the Articles of Association of the Companyand who holds office up to the date of this Annual General Meeting of the Company and in respect of whom theCompany has received a Notice in writing from a Member under Section 160 of the Companies Act, 2013, proposingher candidature for the office of Director of the Company, being so eligible, be and is hereby appointed as anIndependent Director of the Company, not liable to retire by rotation, to hold office for a period of three consecutiveyears w.e.f. May 16, 2022; on such other terms and conditions as set out in the explanatory statement.RESOLVED FURTHER THAT the Board of Directors (including its Committee thereof) and the Company Secretary, beand are, hereby severally authorised to do all such acts, deeds, matters and things as may be considered necessary,desirable or expedient to give effect to this resolution”.5. To appoint Mr. Ramesh Chandak, who has attained the age of seventy-five years, as an Independent Director of theCompany and in this regard, to consider and if thought fit, to pass the following resolution as a Special Resolution:“RESOLVED THAT in accordance with the provisions of Sections 149 and 152 read with other applicable provisions ofthe Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014 read4

with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and inaccordance with the provisions of SEBI (Listing Obligations and Disclosure Requirements) (Amendment)Regulations, 2018, [including any statutory modification(s) or re-enactment(s) thereof, for the time being in force], Mr.Ramesh Chandak (DIN: 00026581), who has attained the age of seventy-five years and in respect of whom theCompany has received a Notice in writing from a Member under Section 160 of the Companies Act, 2013, proposinghis candidature for the office of Director of the Company, being so eligible, be and is hereby appointed as anIndependent Director of the Company, not liable to retire by rotation, to hold office for a period of three consecutiveyears w.e.f. August 12, 2022, on such other terms and conditions as set out in the explanatory statement;RESOLVED FURTHER THAT the Board of Directors (including its Committee thereof) and the Company Secretary, beand are, hereby severally authorised to do all such acts, deeds, matters and things as may be considered necessary,desirable or expedient to give effect to this resolution”.6. To re-appoint and consider the payment of remuneration to Mr. Sanjiv Vasudeva as Managing Director & CEO of theCompany for the period of 3 years w.e.f. March 01, 2022 and in this regard, to consider and if thought fit, to pass thefollowing resolution as a Special Resolution:“RESOLVED THAT pursuant to the provisions of Section 196,197, 203 and all other applicable provisions, if any, of theCompanies Act, 2013 [including any statutory modification(s) or any re-enactment(s) thereof for the time being in force](“the Act”) read with Schedule V to the Act, and any other applicable provisions, if any, under any other law, further tothe approval granted by the Nomination and Remuneration Committee and the Board, approval be and is herebyaccorded to the re-appointment of Mr. Sanjiv Vasudeva (DIN: 06570945), for a period of 3 years effective from March01, 2022 up to February 28, 2025 and to his receiving remuneration, benefits and amenities as Managing Director &CEO of the Company in accordance with the terms and conditions as mentioned in item no. 6 of the explanatorystatement appended below and specifically approved, with powers to the Board of Directors and / or the Nominationand Remuneration Committee to alter, amend, vary and modify the terms and conditions of the said appointment andremuneration payable from time to time, as they deem fit, in such manner and within the limits as mentioned in item no.6 of the explanatory statement, notwithstanding that such remuneration may exceed the limits specified under Section197 and Schedule V of the Act in any financial year during his tenure;RESOLVED FURTHER THAT in the event in any financial year during the tenure of the Managing Director, theCompany does not earn any profits or earns inadequate profits as contemplated under the provisions of Schedule V tothe Companies Act, 2013, the Company may pay to the Managing Director, the remuneration in accordance with thelimits approved, subject to approvals, if any, which may be required under the Act, with suitable reductions in thevariable compensation, in line with the Company policy;RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all acts andtake all such steps as may be necessary or expedient in this connection and further to execute all necessarydocuments, applications, returns and writings as may be necessary, proper, desirable or expedient”.7. To ratify the payment of remuneration to the Cost Auditors of the Company for the Financial Year 2022-23 and in thisregard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution:“RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the CompaniesAct, 2013 read with the Companies (Audit and Auditors) Rules, 2014, [including any statutory modification(s) orre-enactment(s) thereof for the time being in force] and pursuant to the recommendation of the Audit Committee, theremuneration payable to the Cost Auditors M/s. Kailash Sankhlecha and Associates, Cost Accountants (Firm’sRegistration No. 100221), appointed by the Board of Directors of the Company to conduct the audit of the cost recordsof the Company for the financial year ending March 31, 2023, amounting to Rs. 400,000/- (Rupees Four Lacs only) perannum plus applicable taxes and reimbursement of out of pocket expenses of Rs. 25,000/- (Rupees Twenty-fiveThousand only), that may be incurred during the course of audit, be and is hereby ratified;5Driving Success. Together.

INEOS Styrolution India LimitedRESOLVED FURTHER THAT the Board of Directors (including its Committee thereof) and the Company Secretary beand are, hereby severally authorized to do all acts and take all such steps as may be necessary, proper or expedient togive effect to this resolution”.By Order of the Board of Directors:For INEOS Styrolution India LimitedRegistered Office:5th Floor, OHM House II,OHM Business Park, Subhanpura,Vadodara - 390023Abhijaat SinhaHead - Legal and Company SecretaryDate: May 26, 2022Place: Vadodara6

Notes: Considering the situation caused due to Covid-19 pandemic, the Ministry of Corporate Affairs (“MCA”) has vide itscircular dated May 5, 2020 read together with circulars dated April 8, 2020, April 13, 2020, January 13, 2021,December 8, 2021, December 14, 2021 and May 5, 2022 (collectively referred to as “MCA Circulars”) permittedconvening the Annual General Meeting (“AGM” / “Meeting”) through Video Conferencing (“VC”) or Other Audio VisualMeans (“OAVM”), without the physical presence of the members at a common venue. In accordance with the MCACirculars, provisions of the Companies Act, 2013 (‘the Act’) and the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the AGM of the Companyis being held through VC / OAVM. The deemed venue for the AGM shall be the Registered Office of the Company. The explanatory statement pursuant to Section 102 of the Companies Act, 2013 (‘the Act’) with respect to the specialbusinesses set out in the notice is annexed hereto and forms part of this notice. Generally, a member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote on a pollinstead of himself and the proxy need not be a member of the Company. Since this AGM is being held through VC /OAVM pursuant to the MCA Circulars, physical attendance of members has been dispensed with.Accordingly, the facility for appointment of proxies by the members will not be available for the AGM and hence theProxy Form and Attendance Slip are not annexed hereto. The details required under Regulation 36(3) of the SEBI Listing Regulations, 2015 and Secretarial Standards onGeneral Meetings (SS- 2) issued by the Institute of Company Secretaries of India, in respect of Directors seekingappointment / re-appointment at this AGM forms part of the Notice.PROFILE OF DIRECTORS GETTING APPOINTED Profile of the Directors being appointed / re-appointed as required under Reg

Financial Year 2021-22. Dear Sir, National Stock Exchange of India Limited Exchange Plaza, Plot No. C/I, 'G' Block, Bandra- Kurla Complox, Bandra ('E') Mumbai 4D0 051 NSE Symbol: INEOSSTYRO Meeting and Annual Report of the Company br the The 4gth Annual General Mccting ("AGM") ol the Shareholders of the Company