Manglam Global Corporations Ltd Management Discussions

The Management Discussion and Analysis Report of your company for the financial year ended on 31st March, 2026 is as under:

INTRODUCTION:

This Management Discussion and Analysis report provides an overview of the performance and key developments of Manglam Global Corporations Limited (formerly known as Kshitij Investments Limited) in the fiscal year 2025-26. This report aims to provide insights into the companys operational status, financial condition, market conditions, and future prospects.

INDUSTRY STRUCTURE AND DEVELOPMENT

The food and agriculture sector have vital part of the economy, playing a crucial role in ensuring food security, sustainability, and economic growth. This sector is incredibly diverse, ranging from farming and crop production to food manufacturing, packaging, and distribution. Our Company is engaged in the manufacture, process, market, trade, import, export, improve, sell Agri and Non- Agri commodities, food products, fast moving consumer good (FMCG) and other related products which inter alia include but is not limited to grains, pulses, spices, vegetables, herbs and other food items derived from agricultural or farming activities.

FINANCIAL PERFORMANCE & REVIEW

During the year under review, the Standalone total Income was Rs. 193,607.72 (thousand) against Rs. 39220.99 (thousand) for the corresponding previous year.

SEGMENT WISE PERFORMANCE

As the Company is into single reportable segment therefore, segment wise performance is not applicable.

RISK MANAGEMENT

The growth of your Companys portfolio is linked to the overall economic growth. Primary risk to the business will be on account of adverse changes to the economy. Further, Operational risks encompass a wide range of factors, including inventory management, logistics, quality control, and technological disruptions. Inefficient inventory management can result in carrying costs, obsolescence, or stock outs. Logistic challenges can lead to delays, increased transportation costs, and customer dissatisfaction. Embracing technology, implementing robust operational processes, and continuously improving efficiency can help mitigate operational risks. Implementing robust compliance programs and staying updated on regulatory changes are essential to mitigate regulatory risks.

BUSINESS OUTLOOK

The Company is engaged in the business of trading, marketing, processing, import and export of agricultural and non-agricultural commodities, food products and Fast-Moving Consumer Goods (FMCG), including grains, pulses, spices, vegetables, herbs and other products derived from agricultural and farming activities. The Company continues to strengthen its presence in these segments through efficient sourcing, robust supply chain management and the expansion of its customer and supplier network.

The outlook for the agri-commodities, food products and FMCG sectors remains positive, supported by increasing domestic consumption, evolving consumer preferences, growing demand for quality and value-added products, expansion of organized retail and e-commerce channels, and emerging opportunities in both domestic and international markets. These trends are expected to contribute to the sustained growth of the sector over the medium and long term.

During the year under review, the Company continued to explore and capitalize on opportunities across various agricultural and food product categories. The Company remains committed to enhancing its operational capabilities, broadening its market reach and strengthening its distribution network. It also continues to evaluate opportunities in allied and value-added product segments with a view to diversifying its business portfolio and enhancing revenue streams.

The Company remains focused on achieving sustainable growth through disciplined business practices, efficient working capital management, prudent financial and operational planning and strict adherence to applicable regulatory requirements. The management continues to identify and evaluate opportunities that are aligned with the Companys strategic objectives and capable of generating long-term value for its shareholders and other stakeholders.

Going forward, the Company will continue to focus on strengthening its core business operations, expanding its market presence and improving operational efficiencies. The Board is confident that the Companys strategic initiatives, business fundamentals and growth-oriented approach will support sustainable growth and create enduring value for all stakeholders.

INTERNAL CONTROLS

The Company has robust internal control-systems in place which are commensurate with the size and nature of the business. The internal control is aligned with statutory requirements and designed to safeguard the assets of the Company. The Management reviews and strengthens the controls periodically.

SUBSIDIARIES

Consequent to the acquisition, Shri Krishnam Industries Private Limited became a Wholly Owned Subsidiary of the Company with effect from April 27, 2026. The acquisition forms part of the Companys strategy to strengthen its business operations and expand its corporate structure.

CAUTIONARY STATEMENT

The statements in the "Management Discussion and Analysis Report" section describes the Companys objectives, projections, estimates, expectations and predictions, which may be "forward looking statements" within? the meaning of the applicable laws and regulations. The annual results can differ materially from those expressed or implied, depending upon the economic and climatic conditions, Government policies and other incidental factors.

For and On Behalf of the Board of Directors
Manglam Global Corporations Limited
(formerly known as Kshitij Investments Limited)
Sd/-	Sd/-
Rahul Agrawal	Rohit Agrawal
Director	Director
DIN: 06532413	DIN: 06531456
Date: 11th June, 2026