Iconik Sports and Events Ltd Management Discussions

1. Overview of the Company

Iconik Sports and Events Limited (formerly known as ID Info Business Services Limited), having its registered office in Mumbai, is a multifaceted sports and events management company. Iconik Sports and Events Limited ("Iconik" or "the Company") offers a comprehensive range of services spanning sports infrastructure development, league management, commercial sports ventures, and digital innovation. There has been no change in the objects of the Company during the year under review.

(a) Industry Structure and Developments

Indias sports management industry is rapidly evolving, driven by digital adoption, analytics, and growing interest in diverse sports beyond cricket. The market is set to grow exponentially, fuelled by technology innovations such as AI, wearables, and fan-engagement tools. New leagues, fantasy sports, and esports are expanding monetisation avenues, while governance reforms aim to bring greater transparency to sports administration. Companies focused on grassroots development, athlete analytics, and event management are witnessing strong growth, notwithstanding prevailing regulatory and infrastructure challenges.

(b) Opportunities and Threats

Opportunities for growth include expansion into emerging leagues (e.g., Padel, Tennis), offering data analytics and performance tools to teams, corporate sports events, digital fan-engagement platforms, and athlete branding services. Government initiatives such as Khelo India, together with rising private investment in the sector, create further room for scalable, technology-driven solutions. Key threats/risks include regulatory uncertainty, seasonal revenue fluctuations, ongoing governance reforms, and infrastructure gaps outside metro areas.

(c) Segment-wise or Product-wise Performance

Not Applicable, as the Company operates in a single business segment, being sports and events management.

(d) Outlook

Having successfully organised Seasons 2 and 3 of the World Padel League and Season 4 of the World Tennis League in the previous year, and with a proven track record in niche sports, the Company is well-positioned to leverage its operational expertise in more popular and commercially lucrative arenas such as cricket and tennis. In the current year, the Company is organising Season 4 of the World Padel League. As Indias sports ecosystem diversifies and demand for organised leagues, athlete management, and fan engagement grows, the Company will scale by offering end-to-end event solutions, analytics, and sponsorship management. Strategic expansion across multi-sport formats and deeper engagement with corporate and grassroots events are expected to further strengthen the Companys market presence and revenue potential.

(e) Risks and Concerns

Key risks include regulatory uncertainty, seasonal revenue fluctuations, governance reforms, and infrastructure gaps outside metro areas. To mitigate these risks, the Company has implemented comprehensive risk management strategies focused on compliance, innovation, operational efficiency, and cost control.

(f) Internal Control Systems and their Adequacy

The Company believes that a robust internal control mechanism is a prerequisite to ensure that an organisation functions ethically, complies with all legal and regulatory requirements, and observes generally accepted principles of good corporate governance. Accordingly, the Company has established an internal control system comprising policies, guidelines, and procedures to ensure the orderly and efficient conduct of its financial and business operations, commensurate with the size and nature of its business.

(g) Discussion on Financial Performance with respect to Operational Performance

Revenue Analysis

For the fiscal year ended March 31, 2026, the Company reported total revenue of Rs. 4,550.67 Lakhs, an increase of approximately 258.0% compared to Rs. 1,271.19 Lakhs in the previous financial year. The increase in revenue is primarily attributable to a growth in revenue from operations during the year.

Profitability

The Company reported EBITDA of Rs. 582.02 Lakhs for the fiscal year, compared to Rs. 347.76 Lakhs in the previous year. Net profit for the year stood at Rs. 433.56 Lakhs, compared to Rs. 260.22 Lakhs in the prior year. The increase in net profit was primarily driven by the increase in revenue of the Company.

Expense Analysis

Total expenses for the fiscal year amounted to Rs. 4,000.52 Lakhs, compared to Rs. 923.62 Lakhs in the previous year. The increase in expenses is primarily attributable to higher Employee Benefit Expense and Operating Expenses commensurate with the scale-up of business activity.

Balance Sheet

As at March 31, 2026, the total assets of the Company stood at Rs. 8,727.73 Lakhs, compared to Rs. 5,431.96 Lakhs as at March 31, 2025, primarily on account of an increase in cash and cash equivalents and other operating assets. Total liabilities stood at Rs. 1,757.85 Lakhs as at March 31, 2026, compared to Rs. 1,270.32 Lakhs in the previous year.

Cash Flow

Cash flow from operating activities remained negative at Rs. 2,254.91 Lakhs during the fiscal year ended March 31, 2026, compared to a negative Rs. 3,871.25 Lakhs in the previous year.

The reduction in operating cash outflow reflects an improvement in the Companys operating cash flow position as compared to the previous year.

(h) Material Developments in Human Resources / Industrial Relations

Not Applicable. There were no material developments on the Human Resources / Industrial Relations front, including in the number of people employed, during the year under review.

Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios, along with detailed explanations therefor,

Particulars	Formulae	As at March 31, 2026	As at March 31, 2025	% Change	Reason for Variance
Debtors Turnover Ratio	Credit Sales / Average Debtors	1.58	NA	NA	--
Inventory Turnover Ratio	Cost of goods sold / Average Inventory	NA	NA	NA	--
Interest Coverage Ratio	EBIT / Interest Expense	NA	NA	NA	--
Current Ratio	Current Assets / Current Liabilities	3.19	1.5	112.66%	Increase in Business
Debt Equity	Total	NA	13.76	NA	--
Ratio	Debt/Shareholders Equity
Operating Profit Margin (%)	Operating Profit/Net Sales	12.7%	27%	-18.6%	Increase in Business
Net Profit Margin (%)	Net Profit/Net Sales	9.53%	20%	-52.35%	Increase in Business

(j) Details of any change in Return on Net Worth as compared to the immediately previous financial year along with a detailed explanation thereof.

The Return on Net Worth (Net Profit / Total Equity) of the Company stood at 6.22% for the financial year ended March 31, 2026, as compared to 7.03% in the previous financial year, a decline of approximately 11.57%.

2. Disclosure of Accounting Treatment

The Company has complied with the appropriate accounting policies and has ensured that they have been applied consistently. There have been no deviations from the treatment prescribed in the Accounting Standards notified under Section 133 of the Companies Act, 2013.

Cautionary Statement

The statements made in this report describing the Companys objectives and projections may be forward-looking statements within the meaning of applicable laws and regulations. Actual results may differ materially from those expressed or implied, depending on economic conditions, government policies, and other incidental factors beyond the control of the Company.

	For and on behalf of the Board
	Iconik Sports and Events Limited
	(formerly known as ID Info Business Services Limited)
	Kannan Krishnan Naiker	Kannan Sivani Naiker
Date: 31.08.2026	Managing Director	Director
Place: Mumbai	DIN: 00014414	DIN: 10572891