Maximus International Ltd Management Discussions

The Indian economy is growing driven by domestic players across expanding industries and an accelerating finance & service sectors. India is the worlds sixth-largest economy in 2026, with a GDP of $4.15 trillion and the fastest-growing major economy at 6.5% growth.

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 in 2026 is projected around 3.0–3.1%, with uneven recovery across regions amid geopolitical tensions, energy market volatility, and technological shifts. The war in the Middle Eastand ongoing geopolitical fragmentation are key downside risks, potentially disrupting energy supplies, trade flows, and financial markets. Restoring confidence, predictability, and sustainability remains a key policy priority. Overall, 2026 is expected to be ayear of cautious recovery, with policymakers, businesses, and investors needing to balance growth opportunities against persistent geopolitical and economic risks.

(Source: IMF)

Outlook

Global growth is projected at 3.0 percent for 2026 and 3.4 percent for 2027, broadly unchanged cumulatively from the April 2026 World Economic Outlook. The outlook is uneven: The war shock is weighing on energy importers and vulnerable economies, while AI-driven demand is lifting countries integrated into the global technology value chain. Global disinflation has stalled. Risks are more balanced than in April, but downside risks from renewed conflict and financial market repricing persist. Policymakers should preserve price stability, rebuild fiscal space, and strengthen adaptability.

(Source: IMF)

REVIEW OF OPERATIONS

The performance of your Company for the Financial Year 2025-26 is summarized as follows:

( in Lakh)

	Standalone basis		Consolidated basis
Particulars	2025-26	2024-25	2025-26	2024-25
Revenue from Operations	528.76	519.74	18,480.71	15684.63
Other Income	659.82	268.72	372.98	190.27
Total Income	1188.58	788.46	18853.69	15874.90
Cost of materials consumed			12618.71	10738.54
Purchase of stock - in - Trade	415.20	430.67	2777.65	2201.24
Changes in inventories to finished goods and stock in trade	13.69	1.35	(41.76)	(75.29)
Employee benefits expense	97.20	85.67	792.26	697.56
Finance Cost	54.32	44.65	397.63	316.37
Depreciation and amortization expense	36.76	36.93	222.30	168.52
Other expenses	124.32	112.07	980.42	793.69
Total expenses	741.49	711.33	17747.21	14840.64
Profit /(Loss) before Tax	447.09	77.12	1106.48	1034.27
Less: Tax Expenses
Current Tax	29.74	26.66	75.73	121.76
Deferred Tax	86.88	(5.18)	101.14	2.79
Excess or short provision of earlier years
Net profit/(loss) for the year	330.47	55.64	929.62	909.72
Other Comprehensive income / (loss) (net of tax)	1.26		571.08	129.97
Total Comprehensive income / (loss) for the year	331.73	55.64	1,500.70	1039.69

Standalone Financial Performance

Total revenue from operations on a standalone basis for the current year 528.76 Lakhs as against 519.74 Lakhs in the previous year.

Net profit for the current year is 330.47 Lakhs as against Net profit 55.64 Lakhs in the previous year. Earnings per share stood at 0.24 on face value of 1 each.

Consolidated Financial Performance

Total revenue from operations on a consolidated basis for the current year is 18,480.71 Lakhs as against 15,684.63 Lakhs in the previous year.

Net Profit for the current year is 929.62 Lakhs as against 909.72 Lakhs in the previous year. Earnings per share stood at 0.68 on face value of 1 each.

OPPORTUNITIES & THREATS

OPPORTUNITIES

The following factors present distinct opportunities across our various business segments:

a) GrowingCustomer Demand;

b) Significant Market Potential;

c) Expansion into New Markets

THREATS

Despite being part of a global industry, the Lubricants and Oils sector faces several significant threats to our businesses:

a) Intensifyingcompetition from various domestic and international importers, exporters, manufacturers, and traders;

b)A growing number of competitors offering products similar to ours;

c) Ongoingpressure 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

e)The war in the Middle Eastand ongoing geopolitical fragmentation are key downside risks which need to be considered.

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 extentpossible, 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. As at 31st March, 2026, the Company had 16 employees. 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.