Aris International Ltd Management Discussions

Management Discussion and Analysis Report for the Financial Year ended 31 st March, 2026. LISTED ENTITYS PHILOSOPHY

The Company believes that good Corporate Governance is essential for sustainable growth, transparency, accountability and enhancement of stakeholder value. The Company is committed to conducting its business in an ethical and responsible manner and to maintaining high standards of integrity, fairness and transparency in its dealings with all stakeholders.

The Company continuously strives to strengthen its governance practices and compliance framework in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

A. INDUSTRY STRUCTURE AND DEVELOPMENTS

The Company is engaged in evaluating and undertaking business opportunities in accordance with the objects set out in its Memorandum of Association. The objects of the Company permit it to undertake activities across various sectors, including trading, information technology, real estate and other allied activities.

During the financial year under review, the Company continued to evaluate suitable business opportunities in accordance with its objects and business strategy. The management remains focused on strengthening the operations of the Company while maintaining prudent financial and regulatory discipline.

B. OPPORTUNITIES AND THREATS Opportunities

• Opportunities arising from changing market and economic conditions.

• Growth opportunities in sectors permitted under the objects of the Company.

• Technological developments and increasing digitisation of business activities.

• Opportunities to diversify and strengthen the Companys operations.

• Continued economic and regulatory developments supporting business growth.

Threats

• Changes in economic and market conditions.

• Changes in regulatory and taxation policies.

• Increasing competition in the sectors in which the Company may operate.

• Operational and business risks.

• Adverse economic conditions affecting business opportunities and profitability.

C. SEGMENT-WISE / PRODUCT-WISE PERFORMANCE

During the financial year under review, the Company continued to evaluate business opportunities in accordance with its objects and focused on improving its operational and financial performance.

D. OUTLOOK

The business outlook of the Company remains dependent on overall economic conditions, market developments, availability of suitable business opportunities and the regulatory environment.

The Company intends to pursue suitable business opportunities in accordance with its objects while adopting a prudent approach towards risk management and compliance. The management remains focused on improving operational performance and creating sustainable long-term value for its stakeholders.

E. RISKS AND CONCERNS

The Company is exposed to various risks including business risk, operational risk, market risk, regulatory risk and risks arising from general economic conditions.

The Company continuously evaluates the risks associated with its operations and takes appropriate measures to monitor and mitigate such risks to the extent possible.

F. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an internal control system commensurate with the size, nature and complexity of its operations. The internal control systems are designed to ensure proper recording of transactions, safeguarding of assets, compliance with applicable laws and preparation of reliable financial information.

The adequacy and effectiveness of the internal control systems are reviewed periodically and necessary corrective measures are taken wherever required.

G. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

During the financial year under review, the Company recorded Total Income of Rs. 20.43 lakhs as compared to Rs. 21.58 lakhs in the previous financial year.

The Total Expenditure of the Company stood at Rs. 49.39 lakhs as compared to Rs. 17.18 lakhs in the previous financial year.

Consequently, the Company incurred a Loss Before Tax of Rs. 28.96 lakhs and a Net Loss of Rs. 28.96 lakhs during the financial year 2025-26, as compared to a profit of Rs.4.40 lakhs in the previous financial year.

The management continues to evaluate suitable opportunities for improving the operational and financial performance of the Company.

H. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS

The Company recognizes human resources as an important component of its operations. During the financial year under review, the Company continued to maintain a professional and conducive working environment and cordial employee relations.

CAUTIONARY STATEMENT

Statements in this Management Discussion and Analysis Report describing the Companys objectives, expectations, estimates, projections and outlook 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 economic conditions, regulatory changes, market conditions and other factors beyond the control of the Company.

I. DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS

The details of key financial ratios, including significant changes of 25% or more as compared to the immediately preceding financial year and explanations thereof, wherever applicable, are disclosed in the Notes to the Financial Statements forming part of this Annual Report.

II. CHANGE IN RETURN ON NET WORTH

The details relating to the change in Return on Net Worth as compared to the immediately preceding financial year, along with the reasons thereof, form part of the Financial Statements and Notes thereto annexed to this Annual Report.

III. DISCLOSURE OF ACCOUNTING TREATMENT

The Company has followed the applicable Accounting Standards in the preparation of its financial statements. No treatment different from that prescribed under the applicable Accounting Standards has been followed during the financial year under review.

CONCLUSION

The Company remains committed to strengthening its operations through prudent business strategies, effective risk management, regulatory compliance and operational efficiency with an objective of creating sustainable long-term value for its stakeholders.

On behalf of the Board of Directors For Aris International Limited

Sd/-

Dinesh Dhangare Chairman & Director DIN:11418438

Date: 18-08-2026 Place: Mumbai