ANI Integrated Services Ltd Management Discussions

Industry Structure and Development:

The Company has demonstrated consistent growth over the past few years and continues to take proactive measures
aimed at enhancing profitability year on year. For the financial year ended March 31, 2026, the total revenue from
operations on a Standalone basis stood at Rs.23,981.53 lakhs, as compared to Rs.21,371.71 lakhs in the previous
financial year 2024-25, reflecting a notable increase. On a Consolidated basis, the revenue from operations for the
year ended March 31, 2026, was Rs.25,423.35 lakhs, as against Rs.22,746.35 lakhs in the financial year 2024-25.

Opportunities & Threats:

The Company operates in high-growth segments including Manpower Recruitment and Supply Agency Services,
Technical Inspection and Certification Services, Maintenance and Repair Services, as well as Erection,
Commissioning, and Installation Services. These sectors are poised for robust growth over the medium to long term
horizon and the Company is well positioned to capitalize on the emerging opportunities in these areas.

Segment Wise Operational Performance: (r_s. I_n Lakh_s)

(Net Sales/Income) On Standalone Basis
Deputation of Manpower		Operation & Maintenance		Projects		Total
As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st
March 2026	March 2025	March 2026	March 2025	March 2026	March 2025	March 2026	March 2025
13,475.36	10,856.05	3,876.90	3,369.81	6,629.27	7,145.85	23,981.53	21,371.71
(Net Sales/Income) On Consolidated Basis
As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st	As at 31st
March 2026	March 2025	March 2026	March 2025	March 2026	March 2025	March 2026	March 2025
14,917.25	12,227.17	3,387.83	3,369.89	6,629.27	7,149.38	25,423.35	22,746.36

Rs. Outlook:

The Company has continued to align its performance with prevailing market trends and has demonstrated significant
growth. The Management remains optimistic about sustaining and enhancing this growth trajectory in the coming
years, subject to favorable market conditions and stable economic policies. Our sustained progress is driven by a
strong commitment to client satisfaction and long-term value creation. The encouragement and continued support
from our clients have been instrumental in helping us pursue ambitious goals and execute them effectively through
well-defined strategies. The organization remains focused on addressing challenges by strengthening internal
capabilities, enhancing operational efficiency and driving innovation all of which are expected to contribute to
sustained profitability and business stability.

Internal Control Systems and their adequacy:

Your Company has implemented comprehensive technology solutions to effectively manage and monitor internal
processes. Additionally, robust and adequate systems of internal control are in place to provide reasonable assurance
for the safeguarding of assets. As part of our governance framework, all transactions are duly authorized, recorded,
and reported with due diligence, ensuring a strong system of checks and balances.

y Risks and Concerns:

The Company has established a comprehensive Risk Management Policy and procedures to systematically identify,
assess, manage, monitor and mitigate risks. Potential risks have been categorized across various domains including
Business Dynamics, Operations, Liquidity, Market and Industry, Human Resources, Systems and Disaster
Management. The Company undertakes periodic reviews of the risk landscape along with its identification,

assessment, monitoring and mitigation measures to ensure effective risk governance. At present, the Company does
not foresee any significant technological, operational, financial or environmental risks in the foreseeable future.

Discussion on financial performance with respect to operational performance:

The Company has established itself as a thought leader in its core business domains. For the financial year ended
March 31, 2026, the total revenue from operations on a Standalone basis was Rs.23,981.53 lakhs, compared to
Rs.21,371.71 lakhs in the previous financial year 2024-25, reflecting a significant growth. On a Consolidated basis,
revenue from operations stood at Rs.25,423.35 lakhs for the year ended March 31, 2026, as against Rs.22,746.35 lakhs in
the financial year 2024-25.

Human Resources:

Your Company has developed a robust talent pool across top and middle management levels. We have fostered a
performance-driven work culture with a strong emphasis on building a sustainable and long-term talent pipeline.
Continuous efforts are made to enhance the overall work environment for our employees. To support employee
welfare, the Company offers competitive compensation packages and promotes an innovative and challenging
workplace, among other initiatives.

Cautionary Statement:

Statements made in the Management Discussion and Analysis Report regarding the Companys expectations,
opinions, and predictions are forward-looking in nature. Actual results may differ materially from those expressed or
implied. The Companys operations should be interpreted in the context of changing market conditions, raw material
prices, economic developments, and other relevant factors beyond the Companys control.

Key Financial Ratios:

Sr. No Particulars of Ratio	31.03.2026	31.03.2025
1. Debtors Turnover Ratio	2.48	2.46
2. Inventory Turnover Ratio	NA	NA
3. Interest Coverage Ratio	2.59	4.93
4. Current Ratio	2.58	2.23
5. Debt Equity Ratio	0.21	0.35
6. Operating Profit Margin (%)	-	-
7. Net Profit Margin (%)	1.14	4.04

Details pertaining to Net-worth of the Company:

Particulars of Ratio	31.03.2026 (Rs.in lakhs)	31.03.2025 (Rs.in lakhs)
Net-worth	7,843.91	6,571.75