Jupiter Infomedia Ltd Management Discussions

1. Economy Overview Global Economy

According to World Economy Outlook (WEO), the global economy in 2026 is worth over $125 trillion in nominal GDP, supporting a population of 8.19 billion people across 218 countries. Global growth averages approximately 3.0%, though this masks enormous variation. Advanced economies typically grow at 1-3%, while emerging markets in South and Southeast Asia post growth rates of 5-7%. Inflation has moderated from the post-pandemic highs of 2022-2023 but remains above central bank targets in many countries, averaging 7.6% across all economies.

The geopolitical environment continues to remain uncertain, with heightened tensions in West Asia emerging as a key source of disruption to global trade, energy flows, and supply chains. While the Russia Ukraine conflict continues to have residual effects on crude oil supply/price, commodity markets and logistics, the current focus of global risk has increasingly shifted towards West Asia, where escalating instability is contributing to supply-side pressures, inflationary concerns, and broader market volatility. These developments are creating indirect challenges for industries across sectors, particularly through higher input costs, shipment delays, and uncertainty in the availability of critical materials and services.

The global economic outlook indicates steady growth of 3.1% in 2026, consistent with 2025 levels before easing slightly to 3.2% in 2027. This forecast incorporates a modest upward revision from prior estimates, driven by sustained technology investments in artificial intelligence and related domains that counterbalance trade policy challenges.

Indian Economy

Indias economy in FY 2025-26 has shown steady strength and broad momentum against a global backdrop of geopolitical tensions, trade uncertainty, and financial market swings. Second Advance Estimates (SAE) project real GDP growth at 7.6%. India continues to remain one of the worlds fastest-growing major economies, supported by resilient domestic demand, strong investment activity, and ongoing structural reforms. However, the latest GDP estimates indicate that India is currently the 6 th largest economy in the world.

According to the International Monetary Fund (IMF), India is poised to contribute nearly 18% to global growth by FY 2027-28—one of the highest shares among major economies. This reflects not only strong domestic consumption but also improving productivity, supply-chain realignments, and continued policy reforms that enhance competitiveness across sectors including sustainable and clean energy.

The countrys growth outlook is particularly relevant for emerging sectors such as renewable energy, digital infrastructure and Artificial Intelligence ("AI"). Indias economic development is increasingly being accompanied by higher energy requirements, greater digital adoption and the need for efficient and sustainable infrastructure. These trends are creating opportunities for businesses operating at the intersection of clean energy, technology and AI.

2. Industry Overview Clean Energy Sector

Indias transition towards a low-carbon and energy-secure economy continues to accelerate, supported by policy initiatives, increasing electricity demand, investments in renewable energy infrastructure and growing participation from the private sector. As of June 2026, Indias cumulative renewable energy capacity stood at approximately 288.6 GW, including around 162.2 GW of solar capacity and 57.4 GW of wind capacity, according to the Ministry of New and Renewable Energy ("MNRE").

The Governments continued focus on renewable energy research and technology development, including the continuation of the Renewable Energy Research and Technology Development Programme for the 2026-27 to 2030-31 period, further reinforces the long-term policy direction towards innovation and technology-led development in the renewable energy sector.

Artificial Intelligence

Artificial Intelligence is emerging as an important enabler of Indias next phase of economic and industrial development. The Government of India has recognised AI as an important component of Indias future economic and technological ecosystem, with the Economic Survey 2025-26 specifically examining the evolution of Indias AI ecosystem and the opportunities and challenges associated with its development.

3. Company Overview

Arix EnergiX Limited, formerly known as Jupiter Infomedia Limited, is a BSE-listed company building focused businesses across artificial intelligence, digital technology and clean-energy infrastructure. The Company operates through two distinct growth platforms — Arix AI Technology and Clean Energy — addressing opportunities across enterprises, government and public-sector organisations, infrastructure ecosystems and the energy transition.

Arix EnergiX focuses on selected opportunities across renewable-energy execution, operations, energy storage and emerging clean-energy infrastructure — combining execution capability, partnerships and disciplined participation models.

As renewable-energy penetration increases, energy storage is becoming increasingly important for managing variability, improving flexibility and enabling more effective use of generation infrastructure. Arix EnergiX is developing its focus around Battery Energy Storage

Systems and associated integration opportunities, with participation evaluated on technology suitability, project economics, partnerships and execution capability.

Arix EnergiX does not intend to approach every energy opportunity through the same commercial structure. Participation will depend on the requirements, economics and risk profile of the individual opportunity. Green Hydrogen and Green Ammonia are emerging as potential components of the long-term energy transition, particularly in areas where direct electrification may be difficult. Arix EnergiX considers these segments strategic areas of focus and intends to evaluate opportunities selectively as technology, demand, infrastructure and project economics continue to evolve.

4. Opportunities and Threats Opportunities

Indias target of 500 GW of non-fossil fuel electricity capacity by 2030, increasing electricity demand, is expected to drive sustained investment across renewable energy generation and transmission.

Artificial Intelligence is emerging as a significant driver of digital transformation across industries. Increasing adoption of AI, automation, data analytics and cloud-based technologies is creating opportunities for technology companies to develop and deploy solutions across sectors including financial services, healthcare, manufacturing, retail, logistics and professional services.

Threat

Changes in government policies, rules and regulations may results into may impact the Companys project economics, operating costs, investment decisions and overall business performance.

The Companys AI solutions may depend on third-party AI models, APIs and cloud infrastructure. Changes in pricing, licensing terms, availability, performance or functionality of such technologies, as well as supply chain disruptions, could increase costs, affect service delivery and impact the Companys operations and financial performance.

While the long-term outlook remains favourable, the renewable energy business continues to face challenges relating to land acquisition, transmission connectivity, right of-way, supply chain variability, weather risk, construction synchronisation, and timely conversion of bid wins into revenue-generating assets.

5. Segment Wise or Product Wise Performance

Jupiter Infomedia Limited is operating in following segments:

6. Outlook

The focus of company is to promote digitally for sustainability, carbon reduction, and environmental protection through adoption of renewable energy, green hydrogen, and innovative technologies. We are on track to achieve several milestones as per our internal forecasts.

The industry is supportive, and the demand scenario continues to be favorable. Our objective is to continue on this profitable growth journey and deliver sustained value for our stakeholders. Looking ahead, we remain committed to pursuing excellence, fostering innovation, and delivering sustainable value for all our stakeholders. With a solid foundation and a clear strategic direction, we are well-positioned to capitalize on future opportunities and drive long-term growth and success.

7. Risk Management and Concerns

The Company has laid down procedures to inform Board Members about the risk assessment and minimization procedures.

8. Internal Control Systems and their Adequacy

The Company has adequate internal control to ensure that all the assets of the Company are safeguarded and protected against any loss and that all the transactions are properly authorized recorded and reported.

The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of internal control systems and suggests improvements to strengthen the same. Further, your Company has adequate internal financial control with reference to its financial statements.

9. Discussion on Financial Performance with respect to Operational Performance

Share Capital

The paid-up share capital of the company as on March 31, 2026, stands at Rs. 10.02 Crore divided into 1,00,20,000 equity shares of Rs. 10/- each fully paid up.

Reserves and Surplus

The Reserves and Surplus is Rs. (77.48) Lakhs as at the end of the financial year 2025-26.

Total Income

The total income during the year was Rs. 13.63 Lacs.

Profit or Loss

Loss for the year was Rs. 28.17 Lacs during the year as against the Profit of Rs. 52.99 Lacs in the previous year.

10. Human Resource Development and Industrial Relations including number of people employed:

The Company considers human capital to be a key pillar of growth. Company ensures a safe, conducive, and productive work environment. The HR policies continually strive towards attracting, retaining, and developing the best talent required for the business to grow. The company continues to lay emphasis on developing and facilitating optimum human performance. During the year, the number of employees on roll is two.

11. 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, including:

12. Cautionary Statement

Certain Statements in the "Management Discussion and Analysis" describing the Companys objectives, expectations or predictions may be forward looking Actual results could differ materially from those expressed or implied due to various risk & uncertainties. Important factors that could make a difference to the Companys operations include changes in Govt. regulations, tax regimes, economic developments and other factors such as litigation. The company does not undertake to update these statements.