BIL Vyapar Ltd Management Discussions

Management Discussion & Analysis Industry Structure and Development:

BIL Vyapar Limited stands out prominently due to its unwavering commitment to software-driven trading solutions. It excels in delivering comprehensive turnkey projects that revolve around the implementation of holistic Enterprise Resource Planning (ERP) systems, a mission that has gained even greater importance.

BIL Vyapar Limited ERP systems seamlessly integrate crucial aspects such as Logistics, Freight Forwarding, Warehousing, and Transportation, thereby offering unparalleled efficiency to its esteemed clientele. This intricate process, spanning from meticulous system analysis to impeccable implementation, is fortified by a continuous support framework, ensuring the triumphant achievement of set objectives.

In its relentless pursuit of fostering innovation and fortifying its capabilities, BIL Vyapar Limited is on the brink of unveiling its cutting-edge development center in the heart of Mumbai. This forthcoming facility is poised to be a testament to technological advancement and the epitome of clientcentric solutions, harnessing the momentum of the post-COVID-19. By further leveraging the power of software trading, BIL Vyapar Limited is poised to elevate industry standards and redefine the landscape of modern business operations in this new era of digital transformation.

The Company has been advised that the preparation of accounts for the financial year ended 31st March, 2026, on a going concern assumption would not be appropriate. Accordingly, the accounts of the Company have been prepared on a liquidation basis i.e., assets are measured at lower of carrying amount and estimated net realisable value and liabilities are stated at their estimated settlement amounts in the financial results, except for those items which have separately stated in the notes to accounts.

Risk is a potential event or non-event, the occurrence or non-occurrence of which can adversely affect the objectives of the Company. Impact of risks could either be monetary that is impact on business profits due to increase in costs, decreasing revenue amongst others or non-monetary which is delay in securing regulatory approvals, reputational damage etc. The Company is susceptible to risks arising out of our business strategy, succession planning and decision on innovation or product portfolio. If there is any significant unfavorable shift in industry trend or pattern of demand, our returns on investments might get affected. We have risks associated with clients and prospective clients dispositions.

We operate in regulated, semi regulated countries with their own specific complex operating environments. In addition, this business landscape is dynamic and constantly evolving. This brings to the fore a multitude of risks which are closely monitored, mapped, and mitigated. By effectively identifying, assessing, and mitigating risks we strive to enhance our resilience, drive sustainable growth, and maximise value creation.

At BIL Vyapar Limited, Risk Management is a key strategic focus for the Members of Board. All key functions of the Company are independently responsible to monitor risks associated with in their respective areas of operations such as production, supply chain, marketing, finance, accounting, treasury, legal, human resource and others areas like health, safety and environment.

An Audit Committee of the Board of Directors of the Company has been constituted as per provisions of Section 177 of the Companies Act, 2013 and corporate governance requirements specified by Listing Agreements with the Stock Exchanges. The Internal Audit Function is looked after internally by the finance and accounts department, and reviewed by the Audit Committee and the management at the regular intervals.

The Internal Auditors Reports dealing with Internal Control Systems are considered by the Audit Committee and appropriate actions are taken, whichever necessary.

The Financial Statements have been prepared in accordance with the requirements of the Act, Indian Generally Accepted Principles (Indian GAAP) and the

Accounting Standards as prescribed by the Institute of Chartered Accountants of India.

The Management believes that it has been objective and prudent in making estimates and judgments relating to the Financial Statements and confirms that these Financial Statements are a true and fair representation of the Companys Operations for the period under review.

Statements in this Management Discussion and Analysis describing the companys objectives, projections, estimates and expectations may be "forward-looking statements" within the meaning of applicable laws and regulations. Actual results may differ materially from those either expressed or implied. Important factors that could make difference to the Companys operations include change in government regulations, tax regimes, and economic developments within and outside India.

In last five years, the company has concentrated on reduction of fixed expenses and has also reduced direct variables cost. It has concentrated on value added products and optimize on available cash flow.

The management is ensuring an effective internal control system to safeguard the assets of the company. Efforts for continued improvement of internal control system are being consistently made in this regard.

Your company believes in a work environment that is congenial to on job learning and encourages team work. It has, therefore, continued to focus on developing the competence of its staff and employees.

Cordial and harmonious relation with employees continued to prevail throughout the year under review.

This Report contains forward Looking Statements. Any, statement that address expectations or projections about the future, including but not limited to statements about the Companys strategy and growth, product development, market position, expenditures and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future growth.

BIL Vyapar Limited (Formerly known as Binani Industries Limited)

Sd/-

(suspended during CIRP)

REGD NO -IBBI/IPA-001/IP-P00389/2017-18/10707

Place : Mumbai

Date : August 28, 2026