Do you guys actually read annual reports before investing?

Do you guys actually read annual reports before investing? Probably one of the most boring filings on the exchanges lol, but I've started checking these for smaller/midcap companies. Financial numbers tell you how a company is performing. These reports sometimes tell you whether the machinery behind those numbers is being run properly. Was going through a few filings recently and came across the FY26 secretarial compliance report of BLS International. Nothing dramatic in it, which is actually the point. The review covers things like SEBI compliance, board processes, related party transactions, disclosures, subsidiaries etc. From what I could see, there weren't any adverse regulatory actions reported against the company/promoters/directors during the period and the required approvals/processes were in place. For a business operating across multiple countries and dealing with governments, I think boring governance is probably a good thing. Not saying this makes the stock a buy obviously. Valuation, growth, cash flows etc still matter much more. But personally I am starting to appreciate companies where you can read a compliance filing and, there isn't much excitement in it. sometimes boring is good :)