Brisk Technovision Ltd Management Discussions

The key issues of the Management Discussion and Analysis are given below.

1. Global Outlook:

The global IT supply industry outlook for FY 2026 is expected to evolve in response to

several key trends and developments. Heres a look at what might shape the industry:

(a) Sustained Growth in Digital Transformation:

• Continued Investment in Cloud Computing and AI: Businesses are likely to keep investing in cloud computing, artificial intelligence (AI), and machine learning as they seek to enhance operational efficiency, customer engagement, and decision-making capabilities. This will drive demand for IT supplies, including servers, storage, and networking equipment.

• Expansion of the Internet of Things (IoT): The proliferation of IoT devices across various sectors, such as healthcare, manufacturing, and smart cities, is expected to fuel demand for IT hardware, software, and connectivity solutions.

(b) Evolving Supply Chain Dynamics:

• Mitigation of Component Shortages: The industry might see some easing of semiconductor and component shortages as manufacturers increase capacity and diversify their supply chains. However, supply chain resilience will remain a priority, with companies continuing to invest in alternative sourcing strategies.

• Localized Production: There may be a trend towards more localized or regionalized production to reduce dependency on single-source suppliers and mitigate the risks associated with global disruptions.

(c) Sustainability and ESG Pressures:

• Stronger Focus on Circular Economy: Sustainability will become even more critical, with companies emphasizing the circular economyrecycling, refurbishing, and reusing IT products. This could drive innovation in product design and create new business models centered around sustainability.

• Increased Regulatory Compliance: Governments are likely to impose stricter environmental regulations, particularly related to e-waste management and carbon emissions, requiring companies to adapt their supply chains accordingly.

(d) Technological Innovations:

• Quantum Computing and Advanced AI: While still in the early stages, developments in quantum computing could start to influence IT supply chains, particularly in research-intensive sectors. Advanced AI applications might also drive demand for specialized hardware and software.

• 5G and Edge Computing Expansion: The global rollout of 5G and the growth of edge computing will likely accelerate, increasing the demand for related IT infrastructure and devices that support low-latency, high- bandwidth applications.

(e) Economic and Geopolitical Influences:

• Global Economic Recovery: If the global economy experiences a steady recovery, it could boost IT spending across sectors. However, persistent inflationary pressures or economic slowdowns in key regions might temper growth.

• Geopolitical Shifts: Ongoing geopolitical tensions, particularly around technology trade and intellectual property, could continue to reshape the global IT supply landscape, with potential impacts on cross-border partnerships and market access.

(f) Cybersecurity and Data Privacy:

• Enhanced Cybersecurity Measures: As cyber threats become more sophisticated, the demand for cybersecurity solutions will grow, driving innovation and investment in this area. Companies will increasingly prioritize data protection and compliance with emerging global privacy regulations.

• Zero Trust Architectures: Adoption of Zero Trust security models, which require strict identity verification for every person and device attempting to access resources, will likely increase, impacting IT supply chain requirements.

(g) Regional Growth Variations:

• Asia-Pacific Leadership: The Asia-Pacific region is expected to continue leading global IT supply growth, driven by expanding digital infrastructure, urbanization, and government initiatives supporting technology adoption.

• North America and Europe: While these regions will maintain strong demand, particularly in high-tech industries and digital services, economic factors such as inflation and interest rates could influence growth rates.

(h) Long-Term Industry Resilience:

• Innovation and Adaptability: The IT supply industry will need to remain agile and innovative, responding to rapidly changing technologies, regulatory landscapes, and customer expectations.

• Sustained Investment in R&D: Companies that continue to invest in research and development will be better positioned to capitalize on emerging trends and technologies, ensuring long-term competitiveness.

(i) Outlook Summary:

• Stable Growth with Emerging Opportunities: The global IT supply industry is expected to experience stable growth in FY 2025, driven by ongoing digital transformation, technological innovation, and increasing focus on sustainability. Companies that can navigate the challenges of supply chain resilience, regulatory compliance, and evolving customer demands will be well-positioned to thrive.

Overall, FY 2026 is likely to be a year of consolidation and innovation for the IT supply industry, with a focus on building more resilient, sustainable, and adaptable supply chains.

2. IT & Market Growth in India:

The IT supply and market growth outlook for India in FY 2026 is shaped by several key trends and opportunities across various sectors. Heres an analysis of the prospects:

(a) Expansion of IT Supply Chain:

• Increased Manufacturing Capabilities: India is making significant strides in building its IT manufacturing capabilities, particularly in electronics, semiconductors, and hardware components. Initiatives like "Make in India" and the Production Linked Incentive (PLI) scheme for electronics manufacturing are encouraging both domestic and global companies to set up manufacturing bases in the country.

• Diversification of Supply Chains: As global companies look to diversify their supply chains; India is emerging as a key alternative to traditional manufacturing hubs like China. The country is attracting investments in IT hardware production, which is expected to grow in the coming years.

(b) Growth in IT Services and Software Market:

• Continued Leadership in IT Services: Indias IT services sector, which includes software development, IT consulting, and business process outsourcing (BPO), will likely continue its strong growth trajectory. The demand for digital transformation services, cloud migration, and cybersecurity solutions will drive this growth, both domestically and in export markets.

• Software Products and Platforms: There is a growing market for software products and platforms developed in India, especially in sectors like fintech, healthcare, and education. Indian companies are increasingly creating software solutions that cater to global needs, contributing to market expansion.

(c) Accelerating Digital Transformation:

• Adoption of Emerging Technologies: Indian enterprises and government agencies are rapidly adopting technologies like AI, machine learning, blockchain, and IoT. This trend is creating new opportunities for IT suppliers, particularly in areas such as data analytics, automation, and smart infrastructure.

• Digital India and E-Governance: Government initiatives like Digital India are driving the adoption of digital services across the country. The push towards e-governance, smart cities, and digital payments is expanding the market for IT supplies, including software, hardware, and networking solutions.

(d) Sustainability and Green IT:

• Focus on Sustainable IT Practices: As global awareness around sustainability grows, Indian IT companies are increasingly adopting green practices. This includes energy-efficient data centers, e-waste management, and sustainable sourcing of materials, which will influence IT supply chains.

• Regulatory Compliance: The Indian government is likely to introduce more stringent regulations around sustainability and environmental impact, which will drive demand for eco-friendly IT products and solutions.

(e) Startup Ecosystem and Innovation:

• Growth of Tech Startups: Indias startup ecosystem is one of the most vibrant in the world, particularly in IT and tech. Startups focusing on innovative solutions in AI, fintech, healthtech, and edtech are creating demand for specialized IT supplies and services.

• Venture Capital Investment: The influx of venture capital into Indian tech startups will continue to fuel growth, leading to increased demand for IT infrastructure, cloud services, and development tools.

(g) Market Dynamics and Economic Factors

• Economic Growth and IT Spending: Indias overall economic growth is expected to remain strong, supporting increased IT spending across industries. Sectors like banking, financial services, insurance (BFSI), retail, and healthcare are likely to be major drivers of IT demand.

• Affordable Technology Solutions: The Indian markets sensitivity to price will continue to shape demand for affordable IT solutions. Companies that can provide cost-effective and scalable technology products will have a competitive edge.

(h) Challenges and Opportunities:

• Supply Chain Resilience: While India is strengthening its IT supply chain, challenges such as component shortages, logistical issues, and geopolitical tensions could pose risks. Companies will need to focus on building resilient and flexible supply chains.

• Opportunities in Rural Markets: The expansion of digital infrastructure into rural areas presents significant growth opportunities. Companies that can tap into these underserved markets with affordable and localized IT solutions will benefit.

(i) Outlook Summary:

• Positive Growth Prospects: The IT supply and market in India are poised for significant growth in FY 2026, driven by digital transformation, government initiatives, and the expansion of manufacturing capabilities. The sector will see robust demand across IT services, software, hardware, and infrastructure.

• Strategic Focus Areas: To capitalize on these opportunities, companies should focus on innovation, sustainability, and supply chain resilience, while also addressing the needs of emerging markets and the expanding startup ecosystem.

Overall, FY 2025 is expected to be a year of strong growth and innovation for the IT supply and market in India, with opportunities spanning across various sectors and technologies.

3. Government Initiatives

The Indian government has launched several initiatives to bolster the IT supply industry, focusing on enhancing manufacturing capabilities, promoting digital transformation, and fostering innovation. Heres an overview of key initiatives:

(a) Make in India:

• Objective: Launched in 2014, the "Make in India" initiative aims to transform India into a global manufacturing hub by encouraging both multinational and domestic companies to manufacture their products within the country.

• Impact on IT Supply: The initiative has led to increased investments in the manufacturing of IT hardware, electronics, and components. It has also encouraged global tech companies to establish production facilities in India, reducing dependence on imports and strengthening the local supply chain.

(b) Production Linked Incentive (PLI) Scheme:

• Objective: The PLI scheme was introduced to boost domestic manufacturing by offering financial incentives to companies that achieve incremental production targets.

• Impact on IT Supply: The scheme specifically targets sectors like electronics manufacturing, including mobile phones, semiconductor components, and other IT hardware. It has attracted significant investments from global and Indian companies, leading to the expansion of manufacturing capacity and job creation in the IT supply sector.

(c) Digital India:

• Objective: Launched in 2015, Digital India aims to transform India into a digitally empowered society and knowledge economy. It focuses on providing digital infrastructure, delivering government services digitally, and promoting digital literacy.

• Impact on IT Supply: This initiative has increased the demand for IT hardware and software across government departments and public services. The push for e-governance, smart cities, and digital payments has created a substantial market for IT products and solutions.

(d) Electronics Manufacturing Clusters (EMC) Scheme:

• Objective: The EMC scheme is designed to create world-class infrastructure to attract investments in the electronics manufacturing sector, thereby boosting the IT supply chain.

• Impact on IT Supply: By developing dedicated manufacturing zones with state-of-the-art facilities, the EMC scheme supports the creation of a robust ecosystem for electronics and IT hardware manufacturing. It also promotes research and development (R&D) and innovation in the IT sector.

(e) Atmanirbhar Bharat (Self-Reliant India):

• Objective: Launched in 2020, Atmanirbhar Bharat is a broader economic strategy to make India self-reliant by reducing dependency on imports and promoting domestic industries.

• Impact on IT Supply: The initiative supports the IT supply industry by encouraging local manufacturing, especially in critical sectors like electronics and semiconductors. It also emphasizes the development of a robust supply chain for IT hardware and software, with a focus on innovation and indigenous technology development.

(f) Samarth Udyog Bharat 4.0:

• Objective: This initiative is part of the broader Industry 4.0 strategy to promote smart manufacturing in India. It aims to integrate advanced technologies like IoT, AI, robotics, and big data into the manufacturing sector.

• Impact on IT Supply: The adoption of Industry 4.0 technologies is driving demand for advanced IT solutions, including automation software, AI- driven analytics, and IoT devices. This is creating new opportunities for IT suppliers to cater to the evolving needs of the manufacturing industry.

(g) BharatNet:

• Objective: BharatNet is a flagship initiative aimed at providing high-speed broadband connectivity to all the villages in India, thus enabling digital access across the country.

• Impact on IT Supply: By expanding broadband infrastructure, BharatNet is increasing the demand for IT hardware, networking equipment, and digital services in rural areas. This initiative is also paving the way for the growth of e-commerce, telemedicine, and online education, further driving IT supply needs.

(h) Startup India:

• Objective: Launched in 2016, Startup India aims to promote entrepreneurship by providing financial support, tax benefits, and a conducive regulatory environment for startups.

• Impact on IT Supply: The initiative has nurtured a vibrant startup ecosystem, particularly in the tech and IT sectors. This has led to increased demand for IT supplies such as development tools, cloud services, and digital infrastructure, as startups focus on innovation in areas like AI, fintech, and healthtech.

(i) Semicon India Program:

• Objective: Launched to establish India as a global hub for semiconductor design, manufacturing, and technology development.

• Impact on IT Supply: This initiative aims to boost semiconductor manufacturing capabilities in India, which is critical for the IT supply chain. It includes incentives for setting up semiconductor fabs and chip design centers, which are essential for producing IT hardware components domestically.

(j) National Optical Fibre Network (NOFN):

• Objective: To connect all 2,50,000 Gram Panchayats in the country through optical fiber, enabling high-speed broadband connectivity.

• Impact on IT Supply: This project is driving demand for IT infrastructure and networking equipment, as well as creating opportunities for service providers to deliver digital services across rural India.

(k) Skills Development Initiatives:

• Objective: Various government programs aim to enhance the skill sets of the workforce in the IT sector, including initiatives like Skill India and the National Skill Development Mission.

• Impact on IT Supply: A more skilled workforce supports the growth of the IT supply industry by enabling the production of high-quality products and services, as well as fostering innovation and competitiveness in the global market.

These government initiatives collectively support the growth and development of the IT supply industry in India by promoting manufacturing, encouraging digital transformation, and fostering innovation across sectors. They aim to position India as a leading player in the global IT and electronics market while ensuring sustainable and inclusive growth.

Road Ahead

The IT supply industry, both globally and in India, is entering a transformative phase. Over the next five years, growth will be shaped by:

• Rapid adoption of AI, quantum computing, IoT, and 5G-driven infrastructure.

• Expansion of cloud and edge computing ecosystems.

• Greater focus on supply chain resilience and sustainability-driven models.

• Continued government support for domestic manufacturing and R&D.

• Rising cybersecurity and data privacy imperatives across industries.

Overall, FY 2026 is expected to mark a pivotal year of growth, consolidation, and innovation. Companies that successfully align with technology trends, sustainability goals, and evolving customer demands will not only enhance shareholder value but also secure a resilient growth trajectory over the next 5 years.

4. Our Business:

During the year under review, the Company recorded total revenue of Rs2,993.40 lakh, compared to Rs2,705.24 lakh in the previous financial year ended March 31, 2024, reflecting steady growth in topline performance. This increase demonstrates the Companys resilience and its ability to sustain demand for its offerings despite a challenging and competitive market environment.

On the profitability front, the Company reported a net profit of Rs 96.77 lakh, as against Rs 200.34 lakh in the previous year. The moderation in profits was primarily due to higher employee and establishment costs, arising from strategic investments in hiring skilled professionals and establishing a new office infrastructure. Consequently, overall profitability stood at Rs 128.04 lakh, compared to Rs 269.95 lakh in the prior year. While these costs exerted short-term pressure on margins, management views them as strategic enablers that will drive long-term benefits in operational efficiency, service quality, and scalability.

In line with its strategy to diversify revenue streams and reduce dependence on a limited portfolio, the Company has expanded into newer service segments, including security services. This move marks a key milestone in its growth journey, opening up access to new clients and industries while strengthening business resilience.

Five-Year Strategic Outlook:

Over the medium to long term (FY 2026-FY 2030), the Company has charted a clear growth roadmap aimed at building a scalable, diversified, and resilient business model. The key elements of this outlook are:

• Revenue Growth: Sustained topline growth driven by expanding core offerings and scaling new service verticals.

• Diversification: Continued focus on developing security services and exploring adjacent business opportunities that complement existing strengths.

• Operational Efficiency: Leverage technology, digitization, and process improvements to optimize costs and improve profitability.

• Talent & Infrastructure: Ongoing investments in people and facilities to strengthen capabilities and enhance client delivery.

• Shareholder Value Creation: Balanced focus on growth and profitability to deliver consistent returns, backed by a resilient business model.

The management remains confident that these initiatives will enable the Company to outperform industry averages, establish a stronger competitive position, and create sustainable value for all stakeholders over the next five years.

5. Risk Management:

The Company possesses a well-defined risk management framework. The primary goal of risk management is to recognize, supervise and undertake preventative steps with reference to incidents that may create risks for the business.

6. Internal control systems and their adequacy:

The Companys internal control system (including internal financial control system) has been monitored continuously and updated to ensure that assets are safeguarded, regulations established are complied with and pending issues are promptly addressed. The reports presented by internal auditors are reviewed by the audit committee on a routine basis. The committee makes note of the audit observations and takes corrective actions, if necessary. The committee maintains constant dialogue with statutory and internal auditors to make sure that internal control systems are operating effectively.

7. Material Developments In Human Resources / Industrial Relations Front Including Number Of People Employed

Employee wellbeing and building a strong workplace culture continued to be the focus areas for the financial year 2025. The Company adopted sound people practices that enabled it to attract and retain talent in an increasingly competitive market, and to foster a work culture that is always committed to providing the best opportunities to employees to realize their potential. As on March 31, 2025, the Company had 128 full-time employees.

Further, below is the bifurcation of the employees:

No. of on-roll employees: 128

Out of which, male employees were 100 and female employees were 28.

The Company continued to prioritize business continuity as volumes stabilized. The Human Resource team undertook focused initiatives to launch employee-centric welfare programs and actively engaged with business leaders to address workplace concerns and future talent needs. Learning and Development remains a key pillar of our people strategy, enabling employees to meet job challenges effectively while staying aligned with the Companys business objectives. Additionally, specialized training is provided to the resolutions team to reinforce compliance with the Companys Fair Practice Code and to safeguard customers against any form of harassment.

8. Cautionary Statement:

The statements made in this section describe the Companys objectives, projections, expectation and estimations which may be forward looking statements within the meaning of applicable securities laws and regulations

	By the order of the Board of Directors
	For Brisk Technovision Limited
	Sd/-
	Sankaranarayanan Ramasubramanian
Place: Mumbai	Chairman
Date: September 1, 2025	DIN:01957406