Apoorva Leasing Finance & Investment Co Ltd Management Discussions

FORWARD LOOKING STATEMENTS

This Report contains certain forward-looking statements relating to the future business prospects, performance and growth of the Company. These statements are based on certain assumptions, expectations and projections concerning future events and are subject to various risks, uncertainties and other factors, many of which are beyond the control of the Company.

The Company cannot guarantee that such assumptions and expectations will prove to be accurate or that the anticipated events or results will be realized. Actual results, performance or achievements may differ materially from those expressed or implied in such forward-looking statements.

The Company undertakes no obligation to publicly update, amend, modify or revise any forward-looking statements contained herein to reflect any subsequent developments, information, events or circumstances, except as may be required under applicable laws and regulations.

FUTURE PROSPECTS

The Management Discussion and Analysis contained herein includes certain statements relating to the future prospects, business plans and expectations of the Company. These statements are based on the Managements current assessment, assumptions and expectations and are subject to various risks, uncertainties and other factors. Actual results, performance and achievements may differ materially from those expressed or implied in such forward-looking statements. The Company assumes no obligation to publicly update or revise any forward-looking statements to reflect subsequent developments, information or events, except as may be required under applicable laws and regulations.

The Company proposes to gradually diversify its business activities and explore suitable opportunities in specialized financial services and allied areas, subject to prevailing market conditions, regulatory requirements and the availability of appropriate business opportunities.

The Company intends to pursue its diversification strategy in a prudent and phased manner, with due consideration to risk, capital requirements, regulatory compliance and expected returns. The Management will continue to monitor the performance of the Companys existing investments and initiatives, with the objective of enabling them to achieve their intended potential over the medium to long term.

The Companys subsidiaries will continue to focus on their respective core business areas and pursue opportunities for sustainable growth. The Management remains committed to strengthening the Companys business platform, improving operational efficiency and creating sustainable long-term value for its stakeholders

COMPANY BUSINESS

The Company is primarily engaged in the business of trading in shares, financial services and investment activities . The Management believes that the overall outlook for the financial services and investment sector remains encouraging, supported by the continued growth of the Indian economy and increasing demand for diversified financial products and services.

During the year, the Company continued to pursue a diversified business strategy , with activities ranging from third-party product distribution, which generally involves relatively limited balance sheet deployment, to the origination of unsecured personal loans and corporate loans, which involve comparatively higher balance sheet deployment and associated credit and financial risks.

This diversified approach enables the Company to participate across different segments of the financial services value chain while maintaining a balanced approach towards growth, risk management and capital deployment. The Company continues to evaluate opportunities based on their commercial viability, risk-return profile, regulatory requirements and potential for sustainable long-term growth.

The Management believes that the Company is well positioned to leverage the emerging growth opportunities in the Indian economy and

remains focused on strengthening its business operations, expanding its financial services activities and creating sustainable value for its stakeholders.

INDUSTRY STRUCTURE AND DEVELOPMENTS

The financial services industry continues to evolve rapidly, driven by increasing financialization of the economy, growing demand for diversified financial products, technological advancements and changing customer requirements. The sector offers opportunities across various segments, including investment activities, financial intermediation, lending, distribution of financial products and other specialised financial services.

The Company has established its presence in its existing areas of business and continues to strengthen its capabilities, network and business relationships. At the same time, the Management is evaluating opportunities to diversify the Companys operations into other complementary business segments with the objective of broadening its revenue base and creating sustainable long-term growth opportunities.

The Company proposes to build and strengthen its business network in a phased and prudent manner and intends to leverage emerging opportunities in the financial services sector, subject to prevailing market conditions, regulatory requirements and the Companys risk appetite.

The Management remains focused on adopting a balanced approach towards growth, risk management and capital deployment and believes that the Companys existing capabilities and expanding network will enable it to participate effectively in emerging opportunities in the sector.

BUSINESS OVERVIEW

The Revenue from operations during the year under review 2025-26 is Rs. 135.13 lacs as compared to Rs. 118.53 lacs in the previous year.

(Amount in Lacs)

Revenue/Sales for the year 2025-26	135.13
Profit/loss after Tax	30.56
Paid up Equity capital as on 31 st March 2026	1997.49

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an adequate internal control system commensurate with the size, scale and complexity of its operations. The internal control framework is designed to ensure the orderly and efficient conduct of business, accuracy and reliability of financial and operational information, safeguarding of assets, prevention and detection of frauds and errors, and compliance with applicable laws, regulations, policies and procedures.

Adequate records, documents and supporting information are maintained in accordance with the applicable statutory and regulatory requirements. The Management periodically reviews the effectiveness of the internal control systems and processes and continues to strengthen the same, wherever considered necessary, in line with the Companys evolving business requirements.

The Audit Committee of the Board periodically reviews the adequacy and effectiveness of the Companys internal control systems and monitors the implementation of appropriate measures for strengthening the internal control environment.

The Management is committed to ensuring adherence to the Companys internal control policies and procedures and applicable statutory and regulatory requirements. The internal control framework, together with periodic reviews by the Management and the Audit Committee, contributes to enhancing the efficiency of operations and strengthening transparency, accountability and effective governance within the Company.

SEGMENT REPORTING

The companys business activities fall within two business segments viz. Financing and Derivatives activities and income and expense couldnt be bifurcate of both activities. Hence, the disclosure requirement of Ind AS-108 operating segment is not required.

OUTLOOK

The Company remains focused on strengthening its position in its chosen business verticals and building sustainable long-term growth. The Management believes that the Companys existing capabilities, business relationships and continued focus on its core areas of operation provide a strong foundation for pursuing future growth opportunities.

Going forward, the Company intends to remain focused on its core business activities , while continuing to evaluate opportunities for measured and strategic expansion. The Company will endeavour to enhance its financial performance through operational efficiency, innovation, prudent risk management and disciplined execution of its business strategy.

The Company also recognises the importance of maintaining strong and enduring relationships with its clients, business associates and other stakeholders . The Management expects these relationships to become increasingly strategic and mutually beneficial, enabling the Company to better understand evolving customer requirements and deliver solutions that create sustainable value.

The Company remains committed to financial performance, innovation, service excellence and responsible growth and will continue to leverage emerging opportunities in its chosen business segments while maintaining a prudent approach towards risk and capital deployment.

KEY FINANCIAL RATIOS

Pursuant to Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, key financial ratios, explanations for significant changes and Return on Net Worth are provided in the Financial Statements section of this Annual Report.

Particulars	FY 2025-26	FY 2024-25	% Change	Remarks / Explanations
Current Ratio	61.35	53.23	12.25	N.A.
Debt-Equity Ratio	0.00	0.00	0.00	N.A.
Debt Service Coverage Ratio	0.00	0.00	0.00	N.A.
Return on Equity Ratio	0.00	0.00	0.00	N.A.
Inventory Turnover Ratio	0.00	0.00	0.00	N.A.
Trade receivables turnover Ratio	0.00	0.00	0.00	N.A.
Trade Paybles turnover ratio	0.00	0.00	0.00	N.A.
Net Capital Turnover Ratio	0.01	0.01	0.00	N.A.
Net Profit Ratio	0.23	0.29	-20.69	N.A.
Return on Capital Employed	0.00	0.00	0.00	N.A.
Return on Investment	0.00	0.00	0.00	N.A.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES/INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED

The industrial relation is very cordial and peaceful. The implementation of Corporate Governance in the Company showing various measures to provides more scope for development of human resource thereby allowing the employee better opportunities to achieve higher performance and efficiency in their respective assignments and employment.

RISKS AND CONCERNS

In any business, risks and prospects are inseparable. As a responsible management, the Companys principal endeavor is to maximize returns. The Company continues to take all steps necessary to minimize its expenses through detailed studies and interaction with experts.

CAUTIONARY STATEMENT

Statement in this Managements Discussion and Analysis detailing the Companys objectives, projections, estimates, expectations or pred ic- tions are forward-looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include global and Indian demand-supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Companys principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labor negotiations.

STRATEGY

Like other business enterprises, the Company is pursuing a strategic approach towards expansion and diversification of its business operations by providing investment, financing and other related financial support to corporate entities, with a view to strengthening its business presence and creating sustainable growth opportunities.

STRENGTHS & OPPORTUNITIES

The Company is an investment company and having sufficient amount of Reserves is the core strength of our company. The Company will continue to play a major role in commodity trading and other business activities on its own or through its subsidiaries.

LEADERSHIP AND CORPORATE GOVERNANCE

The Companys management comprises of some of the most talented and experienced leaders who have proved their excellence in various fields also. The diverse knowledge of members of the Company is real asset of the company, which makes it stand out of crowd. Every member of the Company is special and expert in his/her hard-core field such as management, finance, operation, manufacturing, corporate law, legal matters etc. The Company exceptionally believes in good corporate governance and follows all the rules, regulations, other applicable laws for the time being such as Corporate Law, Listing Agreement with Stock Exchange etc.

RISKS AND CONCERNS

The investment industry in general faces the risk of re-entry and new entry of players and existence of several unorganized regional players increasing the competition, which mainly affects the asset quality. This is further characterized by captive NBFCs floated by other business houses. The ever-existing systemic and delinquency, risks and fluctuations in interest rates and risk weight make the companies more vulnerable. Deployment of funds in sensitive and volatile sectors increases the risk exposure while concentration risk increases dependency.

Date: 04.09.2026	For and on behalf of
Place: Delhi	Apoorva Leasing finance & Investment Company Limited

Sd/-	Sd/-
Atul Singh Tyagi	Anupama Singh Tyagi
Managing Director	Director
DIN:01335008	DIN: 01064611