Integrated Capital Services Ltd Management Discussions

MARKET OVERVIEW

The Company is rendering Advisory and Consulting Services with focus on Business Structuring, Restructuring and Turnaround. The Company is a Public company incorporated in India and has its registered office in Delhi. The equity shares of the Company are listed on the BSE Limited.

OPPORTUNITIES AND THREATS

The Companys directors and managerial personnel have the expertise and experience which will attract business opportunities in the fields of Restructuring, Turnaround and Insolvency. The healthy corporate relationships developed and maintained by the Company, both domestic and overseas, over the years of carrying on business, who work in similar fields are also resources which attract business for the Company.

The availability of expert and updated knowledge are the keys to deliver satisfactory solutions to customers. The Company promotes participation in conferences,seminars,trainingprograms,forupdationof skills and development of new skills amongst its employees and engages with network consultants and subject trained specialists.

OPPORTUNITY TO REGISTER AS AN INSOLVENCY PROFESSIONAL ENTITY- IPE

The Board of Directors of the Company had accorded approval for filling Applicationto the Insolvency and Bankruptcy Board of India (IBBI) for seeking registration of the Company as an Insolvency Professional Entity(IPE) in accordance with the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulation, 2016. The Companys applicationto obtain "In Principle" approval at first instance as an IPE will be submitted to the Insolvency and Bankruptcy Board of India (IBBI) after appointment of Managerial Personnel, for which a suitable candidate is being identified. The Company effect to conditions, if any, as may be provided by IBBI, which shall enable the Company to obtain final registration as an IPE.

RISK AND CONCERNS

The Company has been encouraging and promoting greater use of digital technology to improve work process and work flow. Maintenance and protection of data are major concerns which are addressed on an

OUTLOOK

The market activity is expected to grow for IPEs, particularly backedbyanincreasinglevelofinternationalactivity. The Company expects to establish itself as a recognized service provider.

SEGMENT-WISE OR PRODUCT-WISE PERFORMANCE

The company is in a single reportable segment only, i.e., Business Advisory and Consulting Services.

BUSINESS ADVISORY AND CONSULTING SERVICES

The company is in providing advisory services in areas of Business Structuring, Restructuring and Turnaround. The Company will undertake Services in the nature of Insolvency Professional Entity after it is registered with IBBI.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has adequate internal control system commensurate with the size and nature of its operations. All the transactions entered into by the Company are duly authorized and recorded correctly.

The top management and the Audit Committee of the Board of Directors review the adequacy and effectiveness of internal control systems from time to time.

The internal control system is organized and employed according to the principles and criteria set out by the management from time to time. The Company has adopted Internal Finance Control Policy for ensuring orderly and efficient conduct of its business, including adherence to Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and timely preparation of reliable information.

ACCOUNTS OF THE COMPANY

The Company has prepared its annual accounts as at/for the year ended March 31, 2024 in accordance with IND-AS. Statements of Financial Accounts of the Company are at for the year ended March 31, 2024 is available on the website of the Company, www.raas.co.in.