Apollo Ingredients Ltd Management Discussions

ANNEXURE I

The Management Discussion and Analysis Report of your company for the financial year ended on 31st March, 2025 are as under:

INTRODUCTION:

This Management Discussion and Analysis report provides an overview of the performance and key developments of Apollo Ingredients Limited (Formerly known as Indsoya Limited) in the fiscal year 2024-25. This report aims to provide insights into the companys operational status, financial condition, market conditions, and future prospects.

INDUSTRY STRUCTURE AND DEVELOPMENT

The healthcare solutions industry is a dynamic and rapidly evolving sector, driven by the need for innovative and effective solutions to address the complex healthcare challenges of an aging population, rising chronic disease prevalence, and increasing demand for quality patient care. As a manufacturer and producer of healthcare solutions, our company operates within a highly competitive and regulated environment, where companies must navigate evolving regulatory requirements, advancing technologies, and shifting consumer needs to remain competitive. Despite these challenges, the industry offers significant growth opportunities for companies that can deliver high-quality, innovative products and services that improve patient outcomes, enhance the quality of life, and reduce healthcare costs.

FINANCIAL PERFORMANCE & REVIEW

During the year under review, the Standalone total Income was Rs. 308.19 lakhs against Rs. 100.30 lakhs for the corresponding previous year.

SEGMENT WISE PERFORMANCE

As the Company is into single reportable segment therefore, segment wise performance is not applicable.

RISK MANAGEMENT

Company classifies the risks broadly into two categories, viz., External Risks and Internal Risks. The external risks mainly comprises of business risks on various fronts. The identified business risks and opportunities are deliberated in detail and thereafter considered in the business plan of the Company along with the mitigation plan. The internal risks identified by the Board are systematically addressed on a continuous basis across the locations.

BUSINESS OUTLOOK

The Company is poised to position itself as an integrated healthcare solutions provider with a multi-disciplinary approach. Leveraging its broad object clause, the Company intends to engage in the manufacturing, import, and export of Ayurvedic, Homeopathic, and Allopathic medicines, while also expanding into the planning, commissioning, and management of healthcare institutions including hospitals, diagnostic centres, wellness centres, and pathology labs.

In addition, the Company aims to offer value-added services such as medical and clinical audits, hospital consultancy, and healthcare manpower solutions including paramedical and nursing support. With increasing demand for holistic, quality, and affordable healthcare, the Company plans to capitalize on emerging opportunities across both traditional and modern systems of medicine, infrastructure development, and healthcare support services both in India and globally.

INTERNAL CONTROLS

The Company has robust internal control-systems in place which are commensurate with the size and nature of the business. The internal control are aligned with statutory requirements and designed to safeguard the assets of the Company. The internal control systems are complemented by various Management Information System (MIS) reports covering all areas. Increased attention is given to auto generation of MIS reports as against manual reports to take care of possible human errors or alteration of data. The Management reviews and strengthens the controls periodically.

SUBSIDIARIES

Your Company has no subsidiary Companies.

CAUTIONARY STATEMENT

The statements in the "Management Discussion and Analysis Report" section describes the Companys objectives, projections, estimates, expectations and predictions, which may be "forward looking statements" within? the meaning of the applicable laws and regulations. The annual results can differ materially from those expressed or implied, depending upon the economic and climatic conditions, Government policies and other incidental factors.

For and On Behalf of the Board of Directors
Apollo Ingredients Limited
(Formerly known as Indsoya Limited)
Sd/-	Sd/-
Lovely Ghanshyam Mutreja	Kirit Ghanshyam Mutreja
Managing Director	Director
DIN: 03307922	DIN: 07514391
Date: 2nd September, 2025