Looks Health Services Ltd Management Discussions

1. Industry Structure and Development: The global economic graph saw some of the worst plunges in 2020-2021 because of the situation of COVID 19 Pandemic and the effects are still being reflected in the financial year 2024-2025. However, the pro activeness shown by most of the Governments through stimulus and aggressive vaccination drives allowed most nations to tide over the worst and witness rekindled growth going forward. With the changing dimension of beauty, influence of media, film industry and fashion, the market is predicted to fuel over in the near future. Health factors such as rise in accidents and obesity and people have become more prone about their health which has led to the growth of the market. Moreover, technological factors which include the development of advanced materials like silicone implants is also expected to spur the market growth in domestic as well as in global market. Moreover, with the increasing popularity of digital photography, introduction to self-monitoring apps, high demand to increase ones self-esteem and affordability of cosmetic surgeries in developing countries can substantially increase the volume of cosmetic surgery procedures.

India is viewed as one of the most progressive countries for cosmetic surgical procedures and this trend is expected to continue in the near future. This is mainly due to the fact that cosmetic surgery has evolved beyond the traditional concept of being a risky or impractical procedure that was demanded by women who were overly conscious about their appearance. Today, people in India understand that cosmetic surgery is a highly specialized and advanced niche of plastic surgery that helps people attain happiness with fewer risks and greater affordability.

In the past, cosmetic surgeries in India were associated with celebrities and people of the affluent class. However, today, these surgeries are increasingly becoming popular and are being undertaken by the middle class. Increasingly, both men and women from the upper middle class group are opting for cosmetic procedures to look attractive in order to get lucrative jobs, best possible marriage partners and primarily get rid of any deformity that they feel impacts their self confidence and self-esteem. Moreover, traditionally, men and women in their late 20s and early 30s were the key clients of cosmetic surgeons. However, a new trend has emerged where teenagers are approaching cosmetic/ aesthetic surgeons to get some cosmetic procedure done.

The changing lifestyle and urbanization, growing awareness of cosmetic surgery procedures, availability of better infrastructure and the rising economic capacity are all driving the cosmetic surgeries market in India.

2. Opportunities & Threats: The Cosmetics market is especially rich in opportunities since most products still have low penetration rates among the population. For instance, only 40% of households use skin care products out of which women are more prone on using such products for their skin health. Company is continuously looking for opportunities of growth in new areas and ventured into some revenue generating services that can boost financial health of the company. The global cosmetic surgery market is projected to grow from $46.02 billion in 2021 to $58.78 billion in 2028 at a CAGR of 3.6% in forecast period 2021-2028.

As per research findings, cosmetics market, once female dominated, has started earning high revenues from male counterparts as well, by catering to male-specific needs. The revenue generated through male cosmetic market has increased the total revenue of Indian cosmetic industry.

Meanwhile, the recent COVID 19 pandemic, social taboos against body part violation, non-essential nature of cosmetic surgery and high cost associated with such surgeries are some of the major factors restricting the market growth in domestic as well as in global market.

3. Segment wise performance: Company operates only in one segment viz. Cosmetic & Non Cosmetic Treatments.

4. Outlook: The effects of COVID-19 pandemic effects are showing recovery on a slow pace and growth of businesses across the world. Our business was disrupted too with the initial lockdowns leading to closure of both of our Clinics situated at Goa and Mumbai. The company is taking all necessary measures to re-open clinics as soon possible and start carrying out the operations in order to achieve impressive realization of opportunities in the market.

5. Risks & Concerns: The COVID-19 pandemic, along with subsequent lockdown measures and market disruptions, has had a significant impact on the industry, leading to the temporary closure of all our clinics and a pause in active operations.

Nonetheless, the underlying demand for services related to hair loss, scalp concerns, and skin conditions continues to persist. People will continue to seek professional guidance and effective treatment solutions. While our clinics are currently non-operational, the Company is actively working towards gradual revival and is committed to resuming operations in a phased and sustainable manner.

The management has identified key risks including regulatory changes, competitive pressures, supply chain disruptions, cyber and data security challenges, high capital requirements, and broader economic and political uncertainties. The Company recognizes that risks are an inherent part of any business and is focused on proactively identifying, managing, and mitigating them. Although economic downturns present ongoing challenges, the long-term prospects of the cosmetic and wellness industry remain promising. With appropriate mechanisms in place, the Company is taking steps to overcome current challenges and position itself for future growth and resilience.

6. Internal Control System & their Adequacy: The Company has a well-defined system of internal audit. It is in place so as to independently review and strengthen the internal controls. The Audit Committee of the Company reviews the reports of the internal auditors quarterly and recommends steps for further improvement of the internal controls. They ensure that assets are safeguarded and protected against loss or unauthorized disposal. It is also designed for effectiveness and efficiency of operations, compliance or regulations backed by strong audit framework at all the locations.

7. Cautionary Statement: Statements in the Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectations may be forward-looking statements. Actual results may differ materially from those expressed or implied due to various risks and uncertainties. Important factors that could make a difference to the Companys operations include economic and political condition in India and in the countries in which the Company operates volatility in currency rates, changes in Government regulations and policies, tax laws, statutes and other incidental factors. The Company does not undertake to update these statements.

8. Financial Performance:

Share Capital: The Paid up Share Capital of the Company as on 31st March, 2025 stands at Rs. 10,50,00,000/- divided into 1,05,00,000 equity shares of Rs. 10/- each fully paid up. Reserves and Surplus: The Reserves and Surplus is Rs. 432.53 lakhs as on the end of financial year. Total Income: During the year under consideration, total income is Rs. 78.52 Lakhs.

9. Employee Relations: Company has smooth relations with its employees during the year under review. 10. Our Strategy: The pandemic restrictions led the closure of both the clinics in Mumbai & Goa. Company is developing strategies in order to re-open the clinic as soon as possible. Further the company is looking into cost management and new targeted expansion since the economy has started gaining strength. Company is highly dedicated in searching for new place for expansion and bringing the business prospects of the Company back to life.

Material Development in Human Resource

Ratios	FY 2024-25	FY 2023-24	Change %	Reason
Debtors Turnover	0	0	0	No debtors outstanding
Inventory Turnover	N.A.	N.A.	N.A.	--
Interest Coverage Ratio	N.A.	N.A.	N.A.	--
Current Ratio	7.33	32.36	-77.34%	Due to increase in current liabilities (On Account of Provision of Tax as Company earned Net Profit ) result in Decrease in Current Ratio 31.03.2025
Debt Equity Ratio	-	-	N.A.	--
Net Profit Ratio	6.05%	N.A.	N.A.	Due to company has provided Health Services in FY 2024-25 and because of that overall Improve in Net Profit for FY 2024-25
Return on Net Worth/Return on capital employed %	0.20%	-0.16%	221.88%	Due to company has resumed providing Health Services in FY 2024-25 and because of that overall Improve in Net Profit for FY 2024-25

The Companys Human Resource Developments efforts aim to make Looks a preferred place to work. This is being achieved through various initiatives including skill development, personality enhancement and employee engagement through internal communications to foster happiness at work.

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 therefore:

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

Return on Net worth FY 2024-25: 0.20% Return on Net worth FY 2023-24: -0.16%

Return on Net worth is increased by 221.88% during the Financial Year 2024-2025.

	FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
	LOOKS HEALTH SERVICES LIMITED
	SD/-
	MONIKA JOSHI
	WHOLE TIME DIRECTOR
	DIN NO.: 10652494
DATE: 04.09.2025
PLACE: MUMBAI