Healthy Investments Ltd Management Discussions

a) Industry Structure and Developments

During the year under review, the Company earned total revenue of 2.042 Million as compared to 2.086 Million in the previous year, representing a decrease of approximately 2.11%. The Company earned a major portion of its income from dividends and dealing in investments. The Company made the profit After Tax of 0.539 Million during the year under review as against a Loss After Tax of 5.876 Million in the previous year. Your Directors are giving their best efforts for exploring more business opportunities so as to increase the growth and profitability of the Company in the years to come.

b) Opportunities and Threats

India is emerging as the fastest growing major economy in the world. Despite various geopolitical tensions worldwide, the economic growth of India was ensured by the government through various financial stimulus packages and the focus on infrastructural development.

Your Company holds significant investments in Equity Shares of various diversified companies Therefore; the business prospects of the Company largely depend on the business prospects and performance of its investee companies. As a long-term strategy, the Company is looking forward for a sustainable growth in its investee companies in the coming years, which would enhance the shareholders value.

c) Segment wise or product-wise performance

The main business of the Company is investment and financing activity and all these activities are carried out within India. As such there are no separate reportable segments or product wise performance reports applicable to the Company.

d) Outlook

The Company continues to hold significant strategic investments in various diversified and renowned companies as stated above. The Company will continue to focus on making long-term strategic investments. Besides, the Company is also expanding its horizon by entering into the field of financing activities.

e) Risk and Concerns

Being an Investment and Finance Company, the risk of the Company is basically attached to the performance of investee companies which are engaged in diversified fields. The Company has robust risk management and monitoring systems in place to minimize the impact of such risks. The Company has adopted adequate measures concerning the development and implementation of a Risk Management Policy after identifying the following elements of risks which in the opinion of the Board may threaten the very existence of the Company itself. (i) Industry and Macroeconomic Risks (ii) Financial Market Risks (iii) Policy Risk (iv) Foreign Exchange Risks (v) Interest Rate Risk (vi) Risks to Direct costs

(vii) Competition Risk (viii) Legal Risks (ix) Environmental law Risks (x) Compliance Risks

f) Internal Control Systems and their Adequacy:

Management has put in place effective Internal Control Systems to provide reasonable assurance for: Safeguarding Assets and their usage. Maintenance of Proper Accounting Records and Adequacy and Reliability of the information used for carrying on Business Operations.

g) Discussion on financial performance with respect to operational performance

The following reviews are intended to convey Managements perspective on the financial and operating performance of the Company during the Financial Year 2025-26. This Report should be read in conjunction with the Companys financial statements and other information included in this Annual Report.

The Company has recorded satisfactory performance during the Financial Year 2025-26. Below is a brief quantitative overview of the financial and operational performance of your Company during the reporting period.

PARTICULARS	2025-26	2024-25
	(In Million )	(In Million )
Profit before depreciation	0.659	0.750
Less: Depreciation	-	-
Profit before taxes	0.659	0.750
Less: Current tax	-	0.345
Less: Tax pertaining to earlier years	0.073	0.002
Less: Deferred Tax	0.948	6.279
Profit available for appropriation (A)	0.539	(5.876)
Other Comprehensive Income (B)	30.159	1.281
Total Comprehensive Income (A+B)	30.698	(4.595)
Transfer to Reserve fund (C)	-	-
Profit for the year (A-C)	0.539	(5.876)
Add: Surplus brought forward from last year	75.796	81.483
Add: Transfer from OCI	24.003	0.190
Add: Transfer from Reserve fund	9.179	-
Surplus carried to balance sheet	109.518	75.796

h) Material developments in Human Resources / Industrial Relations front, including number of people employed.

Employees relations continued to be harmonious throughout the year with the management. Number of permanent employees on the rolls of the Company was 3 as on 31st March, 2026 Your Company believes that, its employees are its greatest strength and the most valuable asset. The management and staff have a mutual faith and trust. The Company provides equal opportunity to all employees and strives to inculcate high performance culture in the organization. i) Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year, if any) in key financial ratios, along with detailed explanations thereof.

Particulars	2025-26	2024-25	Reason for
			change of 25% or
			more
Debtors Turnover Ratio	-	-	-
Inventory Turnover Ratio	-	-	-
Interest Coverage Ratio	-	-	-
Current Ratio Debt Equity	354.24	59.91	Due to increase
			in Current In-
			vestments
Ratio Operating Profit	-	-	-
Margin (%) Net Profit	-	-	-
Margin (%)	-	-	-
Return of Net Worth (%)	-	-	-

j) Cautionary Statement:

Statements in the Management Discussion and Analysis and Directors Report describing the Companys strengths, strategies, projections and estimates, are forward-looking statements and progressive within the meaning of applicable laws and regulations. Actual results may vary from those expressed or implied, depending upon economic conditions, Government Policies and other incidental factors. Readers are cautioned not to place undue reliance on the forward-looking statements.