Mayur Floorings Ltd Management Discussions

INDUSTRY STRUCTURE AND DEVELOPMENTS

The Indian natural stone and minerals industry continues to witness stable demand, supported by real estate, infrastructure, and export markets. Dolomite powder is a versatile mineral product derived from crushed natural dolomite. In India, it finds extensive application across construction, steel, agriculture, glass, ceramics, and environmental projects. With Indias GDP growth driven by urbanization, industrial expansion, and infrastructure spending, dolomite powder has become a critical input for national development. Dolomite powder is a versatile material used in a variety of applications, including as a substitute for limestone in the production of cement, in the construction industry to improve the strength and workability of concrete, and in the production of open-hearth steel furnaces, basic Bessemer converters, pipe, boiler covering as heat insulation, rubber, chemical industries, paper, leather, glass, potteries, filler in fertilizer, paints, varnishes, and in reducing dust in coal mines. In construction industries, dolomite powder can be used as a pozzolanic material and also as the main content in cement manufacturing. Dolomite powder is a byproduct of the processing of dolomite rock, which is a naturally occurring mineral composed of calcium magnesium carbonate.

OPPORTUNITIES AND THREATS

Opportunities

Growing real estate sector and luxury housing demand.

New applications in medical and polymer industries.

Rising demand for sustainable solutions in agriculture and environment.

The urban population in India will reach 40% by 2030 which demands substantial development of city infrastructure.

Demand is being driven by Smart Cities Mission and affordable housing schemes.

Threats

Fluctuation in raw material and logistics costs.

Substitution risk from alternative materials.

Environmental and regulatory restrictions on mining.

Competition from unorganized sector affecting margins.

SEGMENT-WISE OR PRODUCT-WISE PERFORMANCE

The operations of the Company are considered to be a single segment, namely "Minerals and Allied

Products", as the resources are allocated and performance is evaluated by the management on an overall basis. Accordingly, there is no separate reportable segment.

OUTLOOK

With Indias ongoing urbanization, industrial expansion, and agricultural modernization, demand for dolomite powder is poised for sustained growth. The Company is strategically positioned to leverage this momentum through quality leadership, wider distribution, and high-quality dolomite powder, the Company is well-positioned to capture growth. The emphasis will be on:

Expanding dealer/distribution network.

Upgrading processing technology for higher efficiency and quality.

Strengthening compliance and sustainability practices in mining and processing.

RISKS AND CONCERNS

Regulatory changes in mining and environmental laws could impact operations.

Slowdown in construction/real estate sector may reduce demand.

Intense competition from low-cost suppliers.

Dependence on logistics and fuel cost fluctuations.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Companys control measures are closely aligned with its operational activities. Internal systems and procedures are implemented based on the criticality of each function, with a focus on enhancing efficiency, ensuring compliance, and supporting overall performance objectives.

FINANCIAL PERFORMANCE

During the year under review:

Total Revenue: 884.02 Lakhs

Net Profit/Loss: 14.69 Lakhs

EPS: 0.29 per share

HUMAN RESOURCES / INDUSTRIAL RELATIONS

The Company recognizes that its employees are a vital asset and the contribution of it in growth and success. During FY 2025 26, efforts were made to train the manpower for the overall improvement of the same. The employee strength as of March 31, 2026 was 6. Industrial relations remained cordial throughout the year.

CAUTIONARY STATEMENT

The Statements in this Management Discussion and Analysis Report describing the Companys objectives, projections, estimates, plans, industry, conditions, and events are "forward-looking" statements within the meaning of the applicable laws or regulations. The statements are based on certain assumptions and expectations of future events. Actual outcomes may vary significantly due to factors beyond the Companys control. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized.

The Companys actual results, performance, or achievements could thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or event. Investors are advised to conduct thorough due diligence before making any investment decisions.

By order of the Board of Directors

For: Mayur Floorings Limited

Sd/-

Mahavir N Sundrawat

Managing Director (DIN: 01928303)

Date: July 29, 2026

Place: Banswara