Anka India Ltd Management Discussions

FORWARD-LOOKING STATEMENTS

This Management Discussion and Analysis ("MD&A") contains certain forward-looking statements concerning the Companys business prospects, operational and financial performance, strategic initiatives and future outlook. These statements are based on managements current expectations, assumptions and estimates and are subject to various risks and uncertainties. Actual results may differ materially due to changes in economic conditions, technological developments, regulatory requirements, competitive landscape and other factors beyond the Companys control.

The global economy continued to experience a mixed growth environment during FY 2025-26, influenced by geopolitical developments, inflationary pressures and evolving monetary policies. Despite these headwinds, digital transformation remained a strategic priority for businesses across industries, driving continued investment in digital technologies and online customer engagement.

India continued to maintain its position as one of the fastest-growing major economies, supported by robust domestic demand, increasing internet penetration, rapid smartphone adoption and sustained government initiatives promoting digital infrastructure and innovation. The growing consumption of digital content across mobile devices, OTT platforms, Connected TV (CTV) and social media has accelerated the shift of advertising expenditure from traditional media to digital platforms.

These structural changes continue to create favourable opportunities for companies operating in the digital advertising and media technology ecosystem.

The digital advertising industry has witnessed significant transformation over the last few years, driven by advancements in advertising technology (AdTech), Artificial Intelligence (AI), machine learning and programmatic advertising.

Advertisers increasingly prefer digital media due to its ability to provide measurable campaign performance, audience targeting, real-time optimisation and superior return on advertising investments. Video advertising continues to be one of the fastest-growing formats, supported by increasing consumption of digital video content across various devices and platforms.

The industry is also witnessing increasing adoption of privacy-focused advertising solutions, contextual targeting, automation and data-driven campaign management. As brands seek more efficient and accountable marketing solutions, technology-enabled advertising platforms are expected to play an increasingly important role.

Anka India Limited is engaged in the business of digital advertising, media buying and allied advertising technology services. The Company provides integrated advertising solutions through digital media planning, campaign execution, inventory monetisation and technology-enabled advertising services for advertisers and publishers.

During the year, the Company undertook a significant strategic corporate restructuring by acquiring 100% equity stake in Futech Internet Private Limited through a share swap arrangement. This transaction is expected to strengthen the Companys long-term business prospects and broaden its operational base.

The management believes that the acquisition provides a platform for future growth and value creation while enhancing the Companys business capabilities.

The Company believes that significant opportunities exist due to: - increasing digital advertising expenditure across industries; - rapid growth in online video consumption; - expanding programmatic advertising ecosystem; - increasing demand for measurable advertising performance; - growing adoption of Artificial Intelligence in advertising technology; - increasing demand for digital media buying services;

- opportunities arising from strategic commercial collaborations within the digital advertising ecosystem.

The Company operates in a competitive and rapidly evolving business environment. The principal risks include: - intense competition within the digital advertising industry; - rapid technological changes; - changing customer preferences; - data privacy and cybersecurity risks; - regulatory developments relating to digital advertising; - dependence on digital advertising spending; - macroeconomic uncertainties; - talent acquisition and retention.

The Company continuously monitors these risks and adopts appropriate mitigation strategies through periodic reviews and robust internal processes.

The Company operates in a single reportable segment, and accordingly separate segment reporting is not applicable. During FY 2025-26, the Company focused on strengthening its corporate structure through the acquisition of Futech Internet Private Limited. Operational revenue during the year remained limited while the management concentrated on strategic business restructuring and long-term expansion initiatives.

The outlook for the digital advertising industry remains positive, supported by increasing internet penetration, higher digital media consumption, growth in video advertising and continuous advancements in advertising technology. The Company expects continued opportunities arising from increasing adoption of digital marketing, programmatic advertising and data-driven campaign management. The Companys strategic focus on digital advertising, media buying, technology-enabled solutions and commercial collaborations within the digital advertising ecosystem is expected to support future business growth.

Management remains committed to strengthening operational capabilities, enhancing customer relationships, improving financial performance and creating sustainable value for all stakeholders.

The Board and senior management periodically review the Companys risk profile and mitigation measures. The Company continues to strengthen its risk management framework by integrating risk assessment into business planning and operational decision-making.

The Company had limited business operations during the preceding years and, accordingly, its internal financial control framework was commensurate with the nature and scale of its operations. The management is committed to continuously reviewing and strengthening the internal financial controls as the business operations of the Company expand in the coming years.

During FY 2025-26, the Company reported revenue from operations of 18.00 lakh on a standalone basis. Total income stood at 59.06 lakh.

The Company reported a loss after tax of 741.85 lakh during the year. The financial performance was impacted by higher operating expenses, finance costs and strategic investments undertaken to strengthen the Companys long-term business platform.

The management continues to focus on improving operational performance, enhancing revenue generation and maintaining prudent financial discipline.

The Company considers its employees to be its most valuable asset.

The Company continues to promote a work culture based on integrity, innovation, teamwork and continuous learning. Management remains committed to attracting, developing and retaining talented professionals while providing opportunities for skill development and career growth.

The total number of people employed as on March 31^st 2026: 3

Return on Net Worth was negative during FY 2025-26 as compared to the previous financial year, primarily due to the loss incurred during the year. Management remains focused on improving operational performance and profitability through business expansion, operational efficiencies and disciplined financial management.

Statements made in this Management Discussion and Analysis describing the Companys objectives, expectations, estimates or predictions may constitute forward-looking statements within the meaning of applicable laws and regulations. Actual results may differ materially from those expressed or implied due to various factors including changes in economic conditions, government policies, technological developments, market conditions, competitive pressures and other factors beyond the Companys control. The Company undertakes no obligation to publicly revise or update any forward-looking statements except as required under applicable law.