Ishan International Ltd Management Discussions

1. SNAPSHOT

The Company was originally incorporated as Ishan International Private Limited on May 29, 1995 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, New Delhi. Subsequently the name of the company was changed to "Ishan

International Limited" under the Companies Act, 2013 pursuant to a special resolution passed by our shareholders at the EGM held on January 11, 2022 and had obtained fresh certificate of incorporation on January 17, 2022 issued by the Registrar of Companies, New Delhi. The CIN of the Company is L74899DL1995PLC069144.

Ishan is an ISO 9001: 2015 certified Company, GoI certified Star Export House and a diversified heavy engineering company with an history of 29+ years of experience in marketing/ selling heavy engineering equipment in international markets. It is engaged in marketing/ selling projects that focus on supplying machines, erection/installation, commissioning and operational training for sugar plants, hydro power plants and pollution control systems. It also provides high end engineering services and solutions for all types of activities in Hydro Power, Sugar & Pollution Control Systems.

2. INDUSTRY OVERVIEW INDIAN ENGINEERING SECTOR

According to the India Brand Equity Foundation (IBEF), Indias capital goods and engineering industry forms a strong backbone for multiple sectors such as engineering, construction, infrastructure, and consumer goods.

? The engineering sector is the largest industrial segment in India, accounting for 27% of total factories and 63% of foreign collaborations.

? Demand is driven by capacity expansion in infrastructure, power, mining, oil & gas, refineries, steel, automobiles, and consumer durables.

? India enjoys a competitive advantage due to low manufacturing costs, technology innovation, and skilled workforce.

? The sector has witnessed sustained growth, supported by government initiatives, 100% FDI allowance, and increased focus on exports.

Key Statistics (IBEF):

? FDI inflows into mechanical & engineering industries: US$ 4.50 billion (Apr 2000 Mar 2024). ? Engineering contributes 25% of Indias total merchandise exports. ? Exports stood at US$ 107.04 billion in FY23 and US$ 109.32 billion in FY24, reflecting 2.1% YoY growth.

? In April 2024, exports of engineering goods reached US$ 8.67 billion.

? Major export markets include US (US$ 17.63 billion in FY24), ASEAN, Europe, and UAE.

? Indias engineering exports are projected to reach US$ 200 billion by 2030.

CII Insights Growth Projections

The Confederation of Indian Industry (CII) projects significant growth across engineering sub- sectors:

? Electronics Manufacturing Potential to create 2.8 lakh jobs by 2026; enhance GDP and reduce import dependency.

? Electrical Equipment Market Expected to rise from US$ 52.98 billion (2022) to US$ 125 billion by 2027. ? Construction Equipment Estimated 15% CAGR growth over the next five years. ? Engineering Goods Exports Estimated at US$ 109.32 billion in FY24, reflecting stable growth. ? PCBA Segment Anticipated to grow 30% CAGR, creating demand of US$ 87.46 billion by 2030.

Global Engineering Industry Outlook

? The global engineering services market was valued at US$ 707 billion in 2022, projected to cross US$ 1 trillion by 2032. ? The product engineering services market was US$ 1,187.82 billion in 2023, expected to reach US$ 2,642.90 billion by 2032.

? Siemens, with a market cap of US$ 127 billion and presence in 190 countries, remains the global leader.

? Key sectors: civil, electrical, mechanical, structural, water systems, and energy production.

? Growing emphasis on Renewable Energy & Pollution Control ensures continuous global demand.

Ishans Strategic Positioning & Initiatives

Ishan identified the potential of Renewable Energy and Pollution Control equipment exports nearly two decades ago. ? Since 2005, Ishan has successfully promoted over 40 Hydro Power Projects (1 MW 60 MW) across ASEAN countries, establishing a strong presence in Vietnam and Southeast Asia.

? The Company has actively contributed to Indias renewable energy mission under Government-led initiatives.

Key Projects & Initiatives (FY 2025):

? Export of small Hydro Power equipment to ASEAN countries, leveraging Indias low- cost, high-quality manufacturing base. ? Domestic focus under KUSUM Yojna Currently installing solar-powered agricultural pumps in Maharashtra, with plans to replicate in Madhya Pradesh and other states. ? Strengthening global presence in pollution control and clean energy technologies, aligned with climate and sustainability goals.

3. SWOT ANALYSIS

Strength	Weakness
KMPs experience, country Knowledge and relationships	New Suppliers of the Hydro power plants, no projects to showcase in Vietnam, as of now

Strong marketing team in India and Overseas

Listed with the National Stock Exchange of India

Enhanced Brand value

Competent and effective back-end team at HO

Foreign offices managed by experienced and qualified staff

Star Export House certification by Government of India

Good relations with governments

Unparalled value addition toboth ends of the supply chain

Quality Management System under ISO 9001: 2015 (TUV Nord)

Strong support from bankers

Opportunities Threats

Good potential for diversification Competition To other countries in our existing Industries

Good market potential in all our Industries

Good potential for going into manufacturing for backward integration

Easier access to manufactures

Easier access to buyers

Good market potential for diversification in our existing countries

4. RISK MANAGEMENT

The Company has a well defined, well analysed and well implemented Risk Management System. Risks are identified, analysed & graded. Specific Action Plans are defined for Medium & High

Risks. This system is continually reviewed and updated by the Management based on the ‘Gap Analysis done as per the Quality Management System under ISO 9001:2015.

5. ENVIRONMENT HEALTH & SAFETY

We are committed to complying with applicable health, safety and environmental regulations and other requirements in our operations. Compliances are strictly met and monitored.

6. INTERNAL CONTROL SYSTEM

The Company has sound and adequate internal control systems commensurate with its size and nature of business.

7. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL

RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED

Human capital remains the Companys most essential asset. We prioritize creating a supportive and collaborative work environment where safety, occupational health, and environmental stewardship are central. The management is dedicated to integrate these values into all operational aspects. Consistent and periodic training enhances employees morale and confidence, ultimately driving the Company in achieving its these objectives.

By Order of the Board of Directors

For Ishan International Limited

Sd/-

Shantanu Srivastava

Chairman, Managing Director & CEO

 

Date: 02.09.2025

Place: Noida