Disclosure of Interest Statement

SEBI Registration Details

• Registration Number: INH000021067
• Registration Date: 17 June, 2025
• Registered Address: RF410, Purva Munnekolala, Marathahalli, Bengaluru, Bengaluru urban 560037

Research Analyst Details

• Name: Phani Kumar S
• SEBI Registration Number: INH000021067
• Contact: 9886386676

Business Description

The Research Entity is engaged in research and recommendation services. The firm aligns its interests with those of the client and seeks to provide the best suited services.

Disciplinary History

There are no pending material litigations or legal proceedings, findings of inspections or investigations for which action has been taken or initiated by any regulatory authority against the Research entity, Research Analyst or its associates or relatives.

Associates

No Associates

Conflict of Interest Disclosures

1. There are no actual or potential conflicts of interest arising from any connection of Research entity or Research Analyst or his associate or his relative to or association with any issuer of products/securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of Research Analyst services.
2. Research entity or Research analyst or its associate or relatives has no connection or association of any sort with any issuer of products/securities recommended herein.
3. Research analyst or his associate or his relative has no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of research and recommendations services.

Financial Interest and Ownership Disclosures

1. Research entity or Research Analyst or his associate or his relative may have financial interest or actual/beneficial ownership of one per cent or more in the securities recommended in its personal portfolio at the end of the month immediately preceding the date of publication of the research report or date of the public appearance. Details of the same may be referred through the disclosures made at the time of research.
2. Research analyst or research entity or its associates or relatives, may have actual/beneficial ownership of one per cent or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance or research recommendation. Details of the same may be referred through the disclosures made at the time of research.

Compensation and Service Disclosures

1. Research entity or Research analyst or its associates has not received any kind of remuneration or consideration from the products/securities recommended herein.
2. Research entity or Research analyst or its associates have not received any compensation from the subject company in the past 12 months.
3. Research entity or Research analyst or its associates have not managed or co-managed the public offering of Subject Company in the past 12 months.
4. Research entity or Research analyst or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months.
5. Research entity or Research analyst or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months.
6. Research entity or Research analyst or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report or research recommendations.
7. Research entity or Research analyst or its associates have not received any compensation for products or services from the subject company in the past 12 months.

Client Relationship Disclosures

1. The subject company to the research is or was not a client of Research entity or Research analyst or its associates during twelve months preceding the date of distribution of the research report and recommendation services provided.
2. Research Analysts or its associates have not served as an officer, director or employee of the subject company.
3. Research Analysts has not been engaged in market making activity of the subject company.

Analyst Ownership Disclosure

• Ownership of the stock(s), company(ies) mentioned in this report by Analyst(s), author - No
• Analyst(s), author served as an officer, director or employee of companies mentioned - No