Ekansh Concepts Ltd Management Discussions

GLOBAL ECONOMIC OVERVIEW

During FY 2025-26, the global economy demonstrated resilience despite persistent geopolitical tensions, trade uncertainties and volatile financial markets. Global growth remained moderate, supported by easing inflationary pressures, improved supply chain conditions and stable labour markets across several advanced and emerging economies. While central banks in many countries gradually shifted towards a more accommodative monetary policy, economic activity continued to be influenced by regional conflicts, evolving trade policies and global financial conditions.

The medium-term outlook remains cautiously optimistic. Although inflation has moderated across most economies, challenges arising from geopolitical developments, commodity price volatility and global trade dynamics continue to pose risks to sustainable economic growth. Nevertheless, the global economy is expected to maintain steady growth, supported by improving business confidence, technological advancements and continued investments in infrastructure and digital transformation.

INDIAN ECONOMIC OVERVIEW

India continued to be one of the fastest-growing major economies during FY 2025-26, supported by strong domestic consumption, sustained government capital expenditure, robust services sector growth and continued policy reforms. The countrys macroeconomic fundamentals remained resilient, with healthy tax collections, stable foreign exchange reserves and a well-capitalised banking system contributing to economic stability.

Government initiatives focusing on infrastructure development, manufacturing, digitalisation, ease of doing business and investment promotion continued to strengthen economic activity. Public investment in transportation, logistics, urban infrastructure and renewable energy, coupled with increasing private sector participation, has created significant opportunities across various sectors. Despite global uncertainties, Indias long-term growth prospects remain favourable, supported by a large domestic market, demographic advantage and continued structural reforms.

INDIAS INFRASTRUCTURE SECTOR

The infrastructure sector continues to play a pivotal role in Indias economic development and remains one of the key drivers of long-term growth. The Governments continued emphasis on enhancing physical infrastructure through substantial budgetary allocations and policy initiatives has accelerated investments across roads, highways, railways, airports, ports, urban development, water supply, sanitation and energy infrastructure.

Flagship initiatives such as the National Infrastructure Pipeline (NIP), PM Gati Shakti National Master Plan, Bharatmala Pariyojana, Smart Cities Mission, AMRUT and Production-Linked Incentive (PLI) Schemes continue to strengthen the infrastructure ecosystem by improving connectivity, enhancing logistics efficiency and promoting industrial growth.

The sector is also witnessing increased participation from private enterprises through public-private partnerships and greater institutional investments. Rapid urbanisation, growing demand for quality infrastructure and sustained government support are expected to provide significant opportunities for infrastructure development in the coming years. The Company remains optimistic about the long-term growth potential of the sector and continues to evaluate opportunities aligned with its strategic objectives.

FINANCIAL REVIEW (FY 2025-26)

During the financial year under review, the Companys financial performance was impacted by project execution challenges, increased finance costs and other operational factors.

Performance Highlights

- Interest and Finance Costs:

Finance costs increased during the year primarily on account of higher borrowing costs and increased utilization of working capital facilities.

- Profit Before Tax (PBT):

The Company reported a Loss Before Tax of Rs314.48 Lakhs during FY 2025-26 as against a Profit Before Tax of Rs244.33 Lakhs in FY 2024-25.

- Profit After Tax (PAT):

The Company recorded a Net Loss of Rs304.58 Lakhs during FY 2025-26 as compared to a Net Profit of Rs188.61 Lakhs in FY 2024-25.

The management continues to focus on improving operational efficiency, strengthening financial discipline, optimizing costs, enhancing working capital management and pursuing profitable business opportunities to improve the Companys financial performance in the coming years.

BUSINESS OVERVIEW

Ekansh Concepts Limited is an infrastructure consultancy company engaged in providing end-to-end consultancy services for infrastructure development projects. The Company offers a comprehensive range of professional services including:

- Feasibility Studies

- Detailed Project Reports (DPRs)

- Project Management Consultancy (PMC)

- Independent Engineer Services

- Technical Advisory and Infrastructure Consulting

The Company primarily serves Government Departments, Public Sector Undertakings (PSUs) and other public authorities across various infrastructure sectors including:

- Roads & Highways

- Water Supply and Sanitation

- Affordable Housing

- Urban Development

- Solid Waste Management

- Public Financial Management Reforms

- Sustainable Infrastructure Development

The Company has established its presence across Maharashtra, Madhya Pradesh, Chhattisgarh, Rajasthan and Jharkhand and continues to leverage its technical expertise and project execution capabilities to deliver quality consultancy services.

OPPORTUNITIES & OUTLOOK

Indias sustained focus on infrastructure development presents significant long-term opportunities for the Company. Continued investments by the Central and State Governments in transportation, water resources, urban infrastructure and public utility projects are expected to generate substantial demand for professional consultancy services.

The Company remains focused on expanding its presence in high-growth infrastructure segments, particularly roads, highways, water supply and sanitation projects, including opportunities under various Government flagship programmes.

Going forward, the Company intends to:

- Strengthen its project portfolio by focusing on technically sound and commercially viable assignments.

- Improve operational efficiencies through effective project execution and resource optimization.

- Enhance profitability through disciplined cost management and prudent project selection.

- Strengthen cash flows and optimize working capital management.

- Continue exploring opportunities across existing and emerging infrastructure sectors.

The management remains confident that the Companys technical capabilities, experienced workforce and established client relationships will enable it to capitalize on the growing opportunities in Indias infrastructure sector.

RISK MANAGEMENT

The Company has an established risk management framework designed to identify, assess, monitor and mitigate risks that may affect its business operations and long-term objectives. The framework is periodically reviewed by the management to ensure that emerging risks are adequately addressed.

Key risks monitored by the Company include:

- Project execution and contractual risks.

- Regulatory and policy changes.

- Credit and liquidity risks.

- Increase in finance and borrowing costs.

- Availability of skilled manpower.

- Market competition and business development risks.

The Company continues to adopt appropriate mitigation measures through prudent financial management, effective project monitoring, internal controls and regular review of business strategies.

HUMAN RESOURCE DEVELOPMENT

The Company firmly believes that its employees are its most valuable asset and a key driver of sustainable growth. It continues to focus on attracting, developing and retaining skilled professionals while fostering a performance-oriented and collaborative work environment.

Key areas of focus include:

- Employee learning and capability development.

- Technical and professional training.

- Leadership development.

- Performance management.

- Employee welfare, safety and well-being.

- Compliance with applicable labour laws and workplace standards.

The industrial relations during the year remained cordial and harmonious. The Company continues to encourage a culture of integrity, teamwork, innovation and continuous improvement.

CAUTIONARY STATEMENT

Statements made in this Management Discussion and Analysis Report describing the Companys objectives, projections, estimates, expectations or predictions 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 various factors including changes in economic conditions, government policies, market dynamics, competitive environment, regulatory developments and other risks beyond the Companys control. The Company undertakes no obligation to publicly revise or update any forward-looking statements to reflect subsequent events or circumstances.