New Markets Advisory Ltd Management Discussions

For the Financial Year 2025-26 New Markets Avenue Limited (Formerly known as New Markets Advisory Limited)

(CIN: L74120MH1982PLC028648)

(a) 1. Industry Structure and Developments

The Indian financial advisory and investment landscape has witnessed considerable transformation with the introduction of progressive regulatory norms by SEBI, enhancement in market transparency, and increasing participation of retail investors. The sector is now more reliant on digital platforms and data-driven advisory solutions.

New Markets Advisory Limited, with its presence in advisory and investment activities, seeks to leverage opportunities from evolving regulatory norms and capital market expansion, while navigating headwinds from market volatility and competition.

(b) 2. Opportunities and Threats

• Strong retail investor participation in capital markets.

• Digitization of financial services and online advisory platforms.

• Amendments to object clause enabling diversification into trading and manufacturing.

• Strategic capital expansion through proposed preferential allotment of equity warrants.

• Unpredictable macroeconomic events and financial market volatility.

• Regulatory changes affecting operations and compliance costs.

• Increased competition from large financial service firms and fintech startups.

• Cybersecurity and data privacy concerns in an increasingly digital environment.

(c) 3. Segment-wise or Product-wise Performance

The Company is primarily engaged in financial advisory and investment activities and operates in a single business segment. During FY 2025-26, the Company continued its operations and earned revenue from advisory services and securities trading. Since the Company operates in a single segment, separate segment reporting is not applicable under Ind AS 108.

(d) 4. Financial and Operational Performance (i) Financial Highlights (Rs. in Lakhs):

(e) 5. Outlook

The Company has undertaken a strategic shift to support its future growth and expansion. During the year, the Company:

• Changed its name from "New Markets Advisory Limited" to "New Markets Avenue Limited".

• Amended its Object Clause to include activities relating to trading and manufacturing.

• Increased its Authorised Share Capital to Rs. 15 Crores.

• Undertook a preferential issue of 90,00,000 Equity Warrants to non-promoter entities.

These initiatives are expected to provide the Company with greater business opportunities, access to capital and a broader platform for future growth. The Management remains focused on improving operational performance and creating sustainable value for shareholders.

(f) 6. Risks and Concerns

The Company faces the following risks:

• Market Risk from fluctuations in capital markets.

• Regulatory Risk due to compliance with SEBI, Companies Act, and taxation laws.

• Operational Risk including business scalability and execution.

• Reputational Risk from corporate governance failures.

The Company has adopted internal policies to manage and mitigate these risks.

(g) 7. Internal Control Systems and Adequacy

The Company has a well-established internal control framework covering financial, operational, and compliance controls. The Audit Committee periodically reviews audit findings and monitors the effectiveness of internal controls. No material weakness was observed during the year.

(h) 8. Human Resource Development / Industrial Relations

The Company has witnessed several key leadership changes, including appointment of Mr. Kishore Kanhiyalal Jain as Whole-Time Director and Jayesh Ramchandra Patil as CFO, and new appointments to the Board. The Company is focused on building a professional and experienced team aligned with its new business vision. Employee relations remained cordial.

(i) 9. Details of Significant Changes in Key Ratios

There has been a significant improvement in net margin, current ratio, and debt-equity ratio. This change reflects resumption of operations, better working capital management, and financial restructuring.

(j) 10. Material Developments in Subsidiaries, Joint Ventures and Associates

The Company does not have any subsidiary, joint venture, or associate company during the financial year under review.

(k) 11. Cautionary Statement

This report contains forward-looking statements based on certain assumptions and expectations of future events. Actual results may differ materially due to various economic, regulatory, and other factors. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements on the basis of any subsequent developments, information or events.