Hindustan Appliances Ltd Management Discussions

The Management of Hindustan Appliances Limited presents the analysis of performance of your Company for the year ended 2024-2025 and its outlook for the future. This outlook is based on assessment of the current business environment and the expectations, estimates and projections of the Directors and Management of the Company. It may vary due to future economic and political development, both in the Indian and international economies and due to other factors beyond control.

ECONOMIC ENVIRONMENT WORLD

Various national flagship schemes, like the Production-Linked Incentives (PLI) program targeting 14 sectors, alongside state-specific industrial policies, intend to raise the sector- wise contribution of manufacturing to the GDP. As per recent estimates, the manufacturing sectors contribution to the GDP is estimated to be around 13-14 percent in 2025. According to the Economic Survey 2024-25, the slowdown in the manufacturing sector could be attributed to similar dynamics in global merchandise trade.

The global economy has been surprisingly resilient, despite significant central bank interest rate hikes to restore price stability. Changes in mortgage and housing markets over the pre-pandemic decade of low interest rates moderated the near-term impact of policy rate hikes. The medium-term prospects shows that the lower predicted growth in output per person stems, notably, from persistent structural frictions preventing capital and labor from moving to productive firms.

(I) Industry Structure and Developments:

There is fierce competition in the business of Finance and Leasing activity and Service activity which is normal for any business.

(II) Threats:

The Company perceives normal business threats of competition from new entrants.

(III) Segment-wise or Product-wise Performance:

The performance of the company in Finance and Leasing Business is stable.

(IV) Outlook:

The outlook of the Company is positive.

(V) Risks and Concerns:

The Company perceives normal business risks and concerns.

(VI) Internal Control systems and their adequacy:

The Company has adequate internal control systems.

(VII) Discussion on financial performance:

On Standalone basis, the Company has earned Net Profit of Rs. 15.28 Lakhs for the year ended 31st March, 2025 against loss of Rs. 13.68 Lakhs in the previous year.

On Consolidated basis, the Company has earned Net Profit of Rs. 14.66 Lakhs for the year ended 31st March, 2025 against loss of Rs. 13.21 Lakhs in the previous year.

(VIII) Material developments in human resources / Industrial Relations front, and number of people employed:

There are no material developments in human resources front.

(IX) No. of employees: 4

(X) Cautionary Statement:

Certain statements made in this Report relating to the Companys outlook, estimates, predictions etc. may constitute “forward looking statements” within the meaning of applicable laws and regulations. Actual results may differ from such estimates, whether express or implied. Several factors that could make a difference to Companys operations include climatic conditions and economic conditions affecting demand and supply, changes in Government regulation tax regimes, natural calamities, etc. over which the Company does not have any direct control.

For and on behalf of the Board of Directors

Place: Mumbai Date: 5^th June, 2025

Kalpesh R. Shah	Girish M. Boradia
Managing Director	Director
DIN:00294115	DIN: 00476124