Equippp Social Impact Technologies Ltd Management Discussions

(a) Industry structure and developments

Artificial Intelligence (AI) has emerged as a common priority across both industry and
government, recognized as a driver of resilience and innovation worldwide. Fiscal 2025
marked a turning point, as AI began reshaping operating models helping enterprises redesign
cost structures, build agility and resilience, enhance customer and employee experiences, and
launch innovative products and services. With our strong positioning in AI, we are confident
in our ability to capture these opportunities and lead technology-driven growth.

In Fiscal 2025, the technology services industry navigated a complex environment shaped by
volatile interest rates, geopolitical developments, and electoral cycles across major economies.
Protectionist trade measures and inflationary pressures further disrupted global stability,
weighing down discretionary spending. As a result, growth trends were subdued, though
select areas of recovery sustained momentum in technology-led transformation.

According to the NASSCOM Annual Strategic Review, global GDP expanded by 3.2% in
CY2024, marginally lower than the prior year, while IT services growth remained steady at
4.7%. In this climate of uncertainty, client spending is expected to tilt decisively towards AI,
with enterprises viewing these investments as essential to navigate volatility and secure long-
term gains.

(b) Opportunities and Threats

India is one of the fastest-growing economies in the world, yet major social and
infrastructure challenges remain unmet and continue to intensify each year. The Government
of India allocates around 1.4% of GDP to the social sector, while annual philanthropic and
CSR spending now exceeds ?1 lakh crore, including over ?30,000 crore contributed by
corporates under mandatory CSR.

At the same time, India is witnessing encouraging innovations that are reshaping how social
impact is financed and delivered:

• The launch of the Social Stock Exchange (SSE) to help non-profits and social enterprises
raise capital through the market

• The growing adoption of Municipal Bonds to finance local infrastructure

• State-led pilots of Social Impact Bonds (SIBs), such as those initiated by the Government
of Madhya Pradesh

• The institutionalization of the P4 (Public-Private-People Partnership) vision and
dedicated policy framework under the leadership of Chief Minister Shri N. Chandrababu

Naidu in Andhra Pradesh

This momentum is further strengthened by Indias 3.4 million+ small and medium non-
profits, a robust corporate social responsibility ecosystem, and a rising culture of civic
engagement among millennials and youth. Together, these diverse stakeholders governments,
CSR agencies, philanthropic institutions, non-profits, communities, and engaged citizens
create fertile ground to reimagine Indias development paradigm through well-structured
Public-Private Partnerships (PPPs), P4 models, and blended finance. EQUIPPP Expression
of Equity Interest in Public-Private Partnerships is a digital approach that enables this vision,
fostering cross-sector collaborations and evolving PPPs and P4s.

The EQUIPPP concept aligns closely with the management framework proposed in the book
Social Value Investing, authored by Columbia University professors Prof. William B. Eimicke
and Prof. Howard W Buffett.

While other sectors like banking have been transformed by dedicated, integrated backbones
for example, Infosyss Finacle, which revolutionized core banking and helped build Indias
vibrant digital banking ecosystem the social impact sector still lacks a purpose-built, holistic
approach.Hence, to show such robust success like the banking sector, the social impact sector
needs a dedicated approach.

At the heart of EQUIPPP Social Impact Technologies Ltd. lies a powerful idea: Cross-Sector
Collaboration. Built as a concept-driven conglomerate, EQUIPPP brings together holistic
services for the social impact ecosystem. Unlike traditional conglomerates centered around an
individual, EQUIPPP is anchored in a unifying ideology. This shared vision is what binds its
diverse businesses, creates synergy, attracts purpose-driven talent, and delivers scalable
impact. Here, the concept, not an individual, is the true nucleus.

The companys leadership model reflects this philosophy. A three-tier structure ensures a
balance of governance, execution, and agility. At the top, an independent Board of veteran
bankers, senior bureaucrats, and serial entrepreneurs provides oversight, accountability, and
strategic direction. The C-level leadership team contributes deep experience across industry,
finance, and technology, translating strategy into action. Complementing them, a dynamic
startup team drives innovation and agility, ensuring EQUIPPP retains entrepreneurial energy
even as it scales into a future-ready corporation.

EQUIPPPs decision to be listed reflects its core values of transparency and strong
governance. Being publicly listed allows the company to remain independently run and
professionally managed, building trust among governments, investors, partners, and
communities alike.

EQUIPPP is built on two strong verticals that complement each other.

The first, IP and Impact Solutions, brings together bookbuilding tools, Social Tech
Professionals, and an Impact Assessment Marketplace to serve local governments, lawmakers,
CSR agencies, impact funds, non-profits, and even the Social Stock Exchange. This vertical
has already been validated, piloted, and deployed, and is now gearing up to scale with fresh
momentum.

The second, IT and IT Staffing, focuses on providing IT staffing and workforce solutions to
GCCs and MNCs. Backed by a Public-Private Partnership model, it has created a skilled
talent pipeline of 30,000 students for BFSI GCCs over the next three years, ensuring both
scale and sustainability.

Technology consumption patterns often fluctuate from quarter to quarter, influenced by
shifts in the economy, political landscape, regulatory changes, and the pace of innovation in
products and services. For EQUIPPP Social Impact Technologies Limited, these external
factors can create both risks and opportunities. To stay ahead, the company relies on
advanced analytics and proactive strategies, enabling it to anticipate challenges and effectively
manage potential impact

The Company has established effective internal controls and governance frameworks,
ensuring that its internal control systems are adequate. Other sections of this report further
detail and elaborate on the adequacy of these systems

Our HR framework is built to attract, empower, and retain top talent while fostering long-
term engagement. We continue to refine processes, adopt automation, and introduce
proactive initiatives such as structured upskilling programs to strengthen employee
development and retention.

As highlighted in the previous report, EQUIPPP has a strategic agreement with a design and
technology partner, enabling access to a network of retainers and empaneled professionals. In
addition, new teams have been onboarded across subsidiaries, aligned with the net worth and
financial capacity of the parent company, ensuring a scalable and sustainable talent structure.