Amit International Ltd Management Discussions

MANAGEMENT DISCUSSION AND ANALYSIS REPORT For the Financial Year Ended March 31, 2026

(Pursuant to Regulation 34(3) read with Schedule V (Part B) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)

The Management of Amit International Limited (the Company) is pleased to present the Management Discussion and Analysis Report for the financial year ended 31st March, 2026 . This Report provides an analysis of the Companys business environment, industry developments, operational performance, opportunities, risks, financial performance, internal control systems and future outlook. The Report should be read in conjunction with the Audited Financial Statements and the Notes thereto forming part of the Annual Report.

1. ECONOMIC OVERVIEW

The Indian economy continued to demonstrate resilience during Financial Year 2025-26 despite geopolitical uncertainties, inflationary pressures and volatile global financial markets. Supported by robust domestic demand, increased government expenditure on infrastructure, digital transformation and policy reforms, India remained among the fastest-growing major economies in the world.

The Governments continued focus on manufacturing, logistics, infrastructure development, ease of doing business, digital payments, formalisation of the economy and supply chain modernization has created a favourable environment for businesses across various sectors. Stable macro-economic fundamentals, rising disposable income and increasing private sector investments continue to strengthen long-term growth prospects.

Although global uncertainties, commodity price fluctuations and interest rate movements continue to pose challenges, Indias structural growth story remains strong and provides significant opportunities for businesses operating across trading and commercial sectors.

2. INDUSTRY STRUCTURE AND DEVELOPMENTS

The trading industry serves as a critical link between manufacturers, suppliers and consumers across various sectors of the economy. The industry plays an important role in ensuring uninterrupted movement of goods through efficient sourcing, procurement, warehousing and distribution networks.

The sector has undergone significant transformation over the last few years owing to:

• Increasing digitalisation of business processes;

• Expansion of organised trade;

• Growth of e-commerce platforms;

• Improvement in logistics infrastructure;

• Greater transparency through GST implementation;

• Adoption of technology-driven inventory management systems; and

• Better integration of domestic supply chains.

The industry, however, continues to face challenges arising from volatility in commodity prices, changing customer preferences, increasing competition, fluctuating freight costs, foreign exchange volatility, inflationary trends and evolving regulatory requirements.

Despite these challenges, the long-term outlook for the trading sector remains positive, driven by sustained economic growth, rising consumption, improved infrastructure and continued policy support.

3. COMPANY OVERVIEW

Amit International Limited is engaged in the business of trading activities and continues to focus on strengthening its market presence through efficient procurement, customer-centric operations, quality products and prudent financial management.

The Company is committed to delivering value to its stakeholders through operational excellence, ethical business practices, effective risk management and sound corporate governance.

During the financial year under review, there was no change in the nature of business of the Company.

4. BUSINESS PERFORMANCE

During the financial year under review, the Company continued to focus on strengthening its business operations while maintaining operational discipline and financial prudence.

The management concentrated on:

• Enhancing operational efficiencies; Strengthening customer relationships;

• Improving procurement processes; Effective inventory management;

• Timely execution of business commitments; Cost optimisation initiatives; and

• Compliance with statutory and regulatory requirements.

The Company remained committed towards maintaining quality standards and delivering superior customer service despite a challenging business environment.

5. OPPORTUNITIES

The Company believes that several structural opportunities exist for sustainable business growth, including:

• Continued growth of the Indian economy.

• Expansion of organised trading activities.

• Rising domestic consumption.

• Government initiatives supporting infrastructure development.

• Improved logistics and transportation facilities.

• Digital transformation across supply chain operations.

• Better inventory management through technology.

• Expansion into new geographical markets.

• Increasing opportunities for strategic alliances and business partnerships.

• Improved access to financing and organised distribution channels.

The Company intends to leverage these opportunities through continuous improvement in operational capabilities and customer engagement.

6. THREATS

The Company operates in a competitive business environment and is exposed to various external and internal challenges, including:

• Intense competition.

• Commodity price volatility.

• Changes in government regulations.

• Inflationary pressures.

• Fluctuation in transportation and logistics costs.

• Supply chain disruptions.

• Working capital constraints.

• Credit risks associated with customers.

• Technological disruptions.

• Global economic uncertainties.

The Company continuously monitors these developments and adopts appropriate business strategies to mitigate their impact.

7. SEGMENT-WISE PERFORMANCE

The Company operates predominantly in a single business segment , namely trading activities. Accordingly, disclosure relating to segment-wise performance as required under applicable Accounting Standards is not applicable.

8. OUTLOOK

The outlook for the Company continues to remain positive, supported by favourable macroeconomic conditions and sustained growth in domestic demand.

Going forward, the Company intends to focus on:

• Expanding its customer base.

• Strengthening procurement and sourcing capabilities.

• Improving operational efficiencies.

• Better working capital management.

• Adoption of technology-driven business processes.

• Strengthening internal controls.

• Exploring new business opportunities.

• Sustainable and profitable growth.

The management remains confident that its business strategy, experienced leadership and prudent financial discipline will enable the Company to create long-term value for all stakeholders.

9. RISKS AND CONCERNS

Risk management continues to be an integral part of the Companys business strategy. The Board periodically reviews the Companys risk management framework to ensure timely identification, assessment and mitigation of business risks.

The major risks identified include

• Business Risks: Intense market competition/Customer concentration/Demand

fluctuations

• Financial Risks: Credit Risk Liquidity/ Risk Interest/ Rate Risk/ Working Capital Risk

• Operational Risks: Supply chain disruptions/ Inventory management/ Vendor dependency Information technology risks

• Regulatory Risks: Changes in taxation laws/ Compliance requirements/ Corporate governance obligations

• Strategic Risks: Economic slowdown/ Market volatility/ Inflation/Geopolitical developments

The Company has established appropriate internal procedures and monitoring mechanisms for managing these risks effectively.

10. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an adequate system of internal financial controls commensurate with the size, nature and complexity of its business operations.

The internal control framework ensures:

• Protection of assets.

• Reliability of financial reporting.

• Accuracy of accounting records.

• Compliance with applicable laws and regulations.

• Efficient utilisation of resources.

• Prevention and detection of frauds and errors.

• Timely reporting and corrective actions.

The Internal Auditors conduct periodic audits covering operational, financial and compliance aspects of the Companys business. Their observations and recommendations are reviewed by the Audit Committee, which monitors implementation of corrective actions wherever necessary.

The Board believes that the Companys internal control systems are adequate and operating effectively.

11. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

During the financial year under review, the Company continued its emphasis on operational efficiency, prudent financial management and sustainable business growth.

The management remained focused on:

• Revenue enhancement through business expansion.

• Cost optimisation.

• Efficient inventory management.

• Improved receivable management.

• Better utilisation of working capital.

• Maintaining adequate liquidity.

• Strengthening operational controls.

The detailed financial performance is presented in the Financial Statements together with the Notes forming part of this Annual Report.

The Companys financial position continues to reflect disciplined financial management and prudent business practices.

12. KEY FINANCIAL RATIOS

In accordance with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the key financial ratios of the Company are as follows:

Particulars	FY 202526	FY 202425	% Change	Explanation for change of 25% or more
Debtors Turnover Ratio	N.A.	N.A.	N.A.	The Company did not have revenue from operations during the year; hence the ratio is not applicable.
Inventory Turnover Ratio	N.A.	N.A.	N.A.	The Company did not have inventory-related operations during the year; hence the ratio is not applicable.
Interest Coverage Ratio				No finance cost/interest expense was incurred during the year; hence the ratio is not applicable.
Current Ratio				Cannot be determined from the information provided.
Debt Equity Ratio				Cannot be determined from the information provided.
Operating Profit Margin (%)				The Company had no revenue from operations during the year; hence the ratio is not meaningful.
Net Profit Margin (%)	(184.58%)*	29.62%*	(723.31%)	The Company recorded a loss during FY 2025-26 as against a profit in FY 2024-25, primarily due to higher operating expenses in relation to the income earned during the year.
Return on Net Worth (%)				Cannot be determined without the relevant Net Worth figures from the Balance Sheet.

The above ratios shall be read together with the Audited Financial Statements.

13. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS

The Company firmly believes that its employees are its most valuable assets and key contributors to its sustained success.

The Company continues to:

• Promote a culture of integrity and professionalism.

• Encourage employee participation and teamwork.

• Maintain healthy employer-employee relations.

• Provide equal opportunities for growth.

• Ensure compliance with labour laws.

• Maintain a safe and healthy working environment.

• Encourage continuous learning and skill enhancement.

Industrial relations remained cordial throughout the financial year, and there were no significant industrial disputes affecting the operations of the Company.

14. ENVIRONMENT, HEALTH AND SAFETY

The Company is committed to conducting its business in an environmentally responsible manner and strives to ensure compliance with all applicable environmental, health and safety regulations.

The Company continues to promote safe working practices and encourages responsible utilisation of resources while undertaking its business operations.

15. INFORMATION TECHNOLOGY

The Company continues to strengthen its information technology infrastructure to improve operational efficiency, financial reporting, internal controls and business decision-making.

The management periodically reviews IT systems to ensure adequate security, reliability and business continuity.

16. CORPORATE GOVERNANCE

The Company believes that sound Corporate Governance is essential for creating sustainable value for all stakeholders.

The Company continues to comply with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 relating to Corporate Governance. The governance framework focuses on transparency, accountability, ethical conduct, compliance and protection of stakeholder interests.

17. CAUTIONARY STATEMENT

Statements contained in this Management Discussion and Analysis Report describing the Companys objectives, expectations, estimates, projections or predictions may constitute forward-looking statements within the meaning of applicable securities laws and regulations.

Actual results may differ materially from those expressed or implied depending upon various factors including economic conditions, government policies, taxation, market demand,

ANNUAL REPORT 2020-20

competitive environment, regulatory changes, inflation, interest rates, foreign exchange fluctuations and other incidental factors beyond the control of the Company.

The Company assumes no responsibility to publicly amend, modify or revise any forwardlooking statements on the basis of subsequent developments, information or events except as required under applicable laws.

For & on behalf of the Board of Directors AMIT INTERNATIONAL LIMITED

	Sd/-
REGISTERED OFFICE
5th floor, Nirav Apartment., Juhu	KIRTI JETHALAL DOSHI
Gulmohar, Road No. 1, Above Benne Dosa	Managing Director
Restaurant, Vileparle (West), Mumbai,	DIN: 01964171
Mumbai, Maharashtra, India, 400056
Place: Mumbai
Date: 05/09/2026