Ceenik Exports India Ltd Management Discussions

a) Industry Structure and Development:

The Company has discontinued and closed its garment business with effect from 1st April, 2025. Accordingly, the Company is no longer engaged in the garment and apparel manufacturing or related activities.

The Company is presently engaged in diversified business activities, primarily comprising:

Trading in derivative instruments, including equity derivatives and commodity derivatives;

Real estate development and allied activities, including acquiring, purchasing, leasing, renting, licensing, sub- letting, managing, maintaining and otherwise dealing in residential, commercial, industrial and mixed-use properties, including land, buildings, offices, warehouses, retail spaces and infrastructure assets;

Development and dealing in immovable properties, including the purchase, acquisition, development, construction, reconstruction, renovation, redevelopment, improvement, alteration, maintenance, leasing, licensing, sale, exchange, transfer, mortgage or otherwise dealing in immovable properties of every kind and description;

Redevelopment and infrastructure projects, including slum redevelopment, society redevelopment, rehabilitation projects, urban renewal projects, township projects and infrastructure development projects, either independently or jointly with landowners, housing societies, developers, contractors, financial institutions, and government or semi-government authorities; and

Joint development and collaborative projects, including entering into joint development agreements, collaboration arrangements, concessions, public-private partnership (PPP) projects, build-operate-transfer (BOT) projects and other similar arrangements for the development, construction, operation, management and commercial exploitation of real estate and infrastructure projects in India or abroad.

The Companys present business strategy is focused on exploring and developing opportunities in the financial markets and real estate sectors, while maintaining a prudent and disciplined approach towards business operations, investments and risk management.

The Companys diversified business activities provide opportunities for growth and value creation across the financial and real estate sectors.

The Companys activities in derivative instruments offer opportunities to participate in equity and commodity markets and to generate returns through appropriate market opportunities. However, trading in derivative instruments is inherently subject to market volatility, price fluctuations, liquidity constraints, regulatory changes and other financial risks. The Company intends to undertake such activities through appropriate internal controls, prudent risk management practices and in compliance with applicable laws and regulations.

The real estate and redevelopment business presents significant opportunities due to continuing urbanisation, infrastructure development, redevelopment requirements, growing demand for residential and commercial spaces and various government initiatives supporting housing and infrastructure development. The Companys objects relating to redevelopment, joint development, PPP and BOT projects also enable it to explore a wider range of development and infrastructure opportunities, either independently or in association with landowners, developers, financial institutions, government bodies and other strategic partners.

At the same time, the real estate sector is exposed to risks and challenges arising from economic cycles, fluctuations in property prices, changes in interest rates, availability and cost of finance, regulatory approvals, project execution, construction costs, delays in obtaining necessary permissions and changes in applicable laws and government policies.

The Company acknowledges that risk is an integral and unavoidable component of business. Accordingly, the management intends to identify, evaluate and manage risks proactively through prudent decision-making, appropriate internal controls, regular monitoring and compliance with applicable regulatory requirements. The Company will continue to evaluate business opportunities carefully and pursue growth while maintaining financial discipline and a balanced approach towards risk and return.

The overall performance of the Companys business is influenced by the general economic environment, capital market conditions and developments in the real estate and infrastructure sectors.

The Indian economy continues to provide significant opportunities arising from ongoing urbanisation, infrastructure development, expansion of financial markets, growth in housing requirements and increased focus on redevelopment and modernisation of urban infrastructure. Government initiatives relating to infrastructure, housing, urban development and public-private participation are expected to continue creating opportunities for businesses engaged in real estate development, redevelopment and infrastructure-related activities.

The performance of financial markets is influenced by domestic and global economic conditions, interest rates, inflation, monetary policy, geopolitical developments and investor sentiment. Similarly, the real estate sector is affected by economic growth, availability of financing, interest rate movements, regulatory developments and overall demand for residential, commercial and infrastructure assets.

The Company will continue to monitor economic and market developments and evaluate opportunities in its existing areas of business. The management remains focused on conducting its business activities in a prudent and sustainable manner, with emphasis on compliance, risk management, efficient utilisation of resources and long-term value creation for stakeholders.

Followed by high prices of premises, the rentals are constantly increasing. With more premises of the Company coming under lease, the rental income of the Company is expected to increase substantially. With expenses under control, your Directors expects to earn modest profit in coming years.

There have not been any material/major development in human resources front and industrial relations have been cordial.

The Company has in place adequate and effective internal control systems and processes commensurate with the nature of its business and the size and complexity of its operations. The Company has implemented robust policies and procedures, which inter alia, ensure integrity in conducting its business, safeguarding of its assets, timely preparation of reliable financial information, accuracy and completeness in maintaining accounting records and prevention and detection of frauds and errors. These are tested and evaluated on a regular basis for improvement.

This aspect is dealt with in detail in the Directors Report.

Statements in the Annual Report, particularly those which relate to Management Discussion and Analysis may constitute forward looking statements within the meaning of applicable laws and regulations. Although the expectations are based on the reasonable assumption, the actual results might differ.

i) Details of key financial ratios, along with detailed explanations therefore: