Maximus International Ltd Management Discussions

The Indian economy has remained stable and sustained the growth, driven by domestic players across expanding industries and an accelerating finance & service sector.

The Governments initiatives, supported by political stability, have yielded positive outcomes, allowing us to effectively engage with various segments of society and business.

GLOBAL ECONOMIC CONDITIONS & OUTLOOK

Global growth is projected at 3.0 percent for 2025 and 3.1 percent in 2026, an upward revision from the April 2025 World Economic Outlook . This reflects front-loading ahead of tariffs, lower effective tariff rates, better financial conditions, and fiscal expansion in some major jurisdictions.

Global inflation is expected to fall, but US inflation is predicted to stay above target. Downside risks from potentially higher tariffs, elevated uncertainty, and geopolitical tensions persist.

Restoring confidence, predictability, and sustainability remains a key policy priority.

Amid continued elevated levels of uncertainty, more prominent use of scenario analysis can support macroeconomic policymaking. Contingency plans for different types of risks should be ready to be activated should any of those risks be realized.

(Source: IMF)

Outlook

According to the IMF World Economic Outlook (October 2024), Indias nominal GDP in 2025 is projected at $4,272 billion at current prices. India is the 4 th largest economy globally. India attained the highest 4 th rank in 2025 India is expected to maintain its position as the worlds fastest-growing major economy, according to experts.

(Sources: IMF/WB/)

REVIEW OF OPERATIONS

The performance of your Company for the Financial Year 2024-25 is summarized as follows:

OPPORTUNITIES & THREATS OPPORTUNITIES

The following factors present distinct opportunities across our various business segments: a) Growing Customer Demand; b) Significant Market Potential; c) Expansion into New Markets

THREATS

Despite being part of global industry, the Lubricants and Oils sector faces several significant threats to our businesses: a) Intensifying competition from various domestic and international importers, exporters, manufacturers, and traders; b) A growing number of competitors offering products similar to ours; c) Ongoing pressure to deliver high-quality, consistent, and timely products, along with value-added services; d) Increased competition from both small and large players in the lubricant oils and agro-products industry

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company maintains an internal control system that is well-suited to its size and the nature of its business, aimed at achieving operational efficiency and optimal resource utilization. These controls ensure the safeguarding of assets, the reduction and detection of fraud and errors, the adequacy and completeness of accounting records, and the timely preparation of reliable financial information. Regular internal audits are conducted within the Company to uphold these standards.

RISKS AND CONCERNS

Every business inherently carries both risk and return, and these elements are inseparable. As a responsible management team, our primary focus is to maximize returns. The Company remains committed to minimizing expenses through comprehensive analysis and consultation with experts. Senior management regularly identifies and monitors risks, continually developing processes and systems to manage and mitigate them. Through regular checks and evaluations, business risks can be anticipated to the greatest extent possible, allowing for timely corrective measures.

HUMAN RESOURCES

Human resources are a vital asset to any organization. Our employees have played a crucial role in supporting managements efforts to elevate the Company to new heights. The Company places a strong emphasis on enhancing the skills of its workforce, and continuous training is a standard practice to ensure that employees skills and knowledge are consistently updated.

CAUTIONARY STATEMENT

Statements in this Report that describe the Companys objectives, projections, estimates, expectations, or predictions may constitute "forward-looking statements" as defined by applicable securities laws and regulations. Actual results could differ significantly from those expressed or implied.