Oasis Securities Ltd Management Discussions

a. Industry Structure and Developments

The Indian economy continued to demonstrate resilience during Financial Year 2025-26 despite global geopolitical developments, inflationary pressures and volatility in international financial markets. Supported by strong domestic consumption, infrastructure investments, policy reforms and increasing digitisation, India remained one of the fastest-growing major economies in the world.

The Non-Banking Financial Company (NBFC) sector continued to play a vital role in providing credit access, supporting entrepreneurship and contributing to financial inclusion. Improved asset quality, stable regulatory oversight by the Reserve Bank of India ("RBI"), increasing formalisation of the economy and sustained demand for credit created favourable conditions for growth in the financial services sector.

Against this backdrop, the Company continued to strengthen its lending operations while maintaining a prudent approach towards credit underwriting, risk management and regulatory compliance.

b. Business Overview

The Company is registered as a Non-Banking Financial Company Non-Systemically Important Non-Deposit Taking Company (NBFC-ND) and is primarily engaged in lending and investment activities.

The Companys business strategy is focused on maintaining a high-quality loan portfolio, prudent investment management, effective risk controls and sustainable growth. During the year under review, the Company continued to expand its lending activities while maintaining sound asset quality and a disciplined approach towards deployment of funds.

c. Business Performance and Financial Review

The Company delivered a satisfactory financial performance during the Financial Year 2025-26.

Total Income increased to 230.75 Lakhs as compared to 167.27 Lakhs in the previous financial year, representing a growth of 37.95%. The growth was primarily driven by an increase in Interest Income, which rose to 176.39 Lakhs from 80.52 Lakhs in the previous year, reflecting expansion of the Companys lending operations.

Profit Before Tax stood at 121.25 Lakhs as compared to 111.73 Lakhs during the previous financial year. Profit After Tax increased to 101.70 Lakhs from 86.79 Lakhs in the previous year, registering a growth of 17.18%.

The Companys loan portfolio increased from 824.68 Lakhs as on March 31, 2025 to 978.91 Lakhs as on March 31, 2026, demonstrating continued growth in financing activities. The investment portfolio stood at 393.25 Lakhs as at

March 31, 2026.

The Company maintained a strong financial position with total assets of 1,447.17 Lakhs and shareholders funds of 1,423.72 Lakhs as on March 31, 2026.

d. Opportunities and Outlook

Indias long-term economic fundamentals continue to remain strong. Growing formalisation of the economy, increasing financial inclusion, rising demand for credit, technological advancements and supportive regulatory initiatives are expected to create significant opportunities for the NBFC sector.

The Company intends to leverage these opportunities by expanding its lending portfolio, strengthening customer relationships, enhancing operational efficiencies and maintaining prudent risk management practices. The Directors remain optimistic about the long-term prospects of the Company and expect sustainable growth in the coming years.

e. Risks and Concerns

The Companys business is exposed to various risks including credit risk, liquidity risk, interest rate risk, market risk, operational risk and regulatory risk.

To mitigate these risks, the Company follows prudent lending policies, robust credit appraisal mechanisms, continuous monitoring of borrower accounts and effective internal control systems. The Company regularly reviews its risk management framework to ensure timely identification, assessment and mitigation of business risks.

The management continues to monitor macroeconomic developments and regulatory changes that may impact the Companys operations and financial performance.

f. Internal Control Systems and their Adequacy

The Company has established adequate internal control systems commensurate with the size, scale and complexity of its operations. The internal control framework is designed to ensure safeguarding of assets, accuracy of accounting records, compliance with applicable laws and regulations and reliability of financial reporting.

The internal controls are periodically reviewed and strengthened wherever necessary. The Audit Committee regularly reviews the effectiveness of internal control systems, risk management processes and compliance mechanisms.

The Companys operational performance remained satisfactory during the year under review. Growth in lending activities contributed significantly to higher interest income and overall profitability. The Company maintained a healthy balance sheet, adequate liquidity position and strong capital base to support future business growth.

The management continues to focus on operational efficiency, portfolio quality, disciplined cost management and sustainable profitability.

h. Segment-wise Performance

The Company operates in a single reportable segment, namely financing and investment activities. Accordingly, separate segment-wise performance reporting is not applicable.

i. Human Resources and Industrial Relations

Human resources remain a valuable asset of the Company. The Company continues to focus on employee development, professional growth and maintaining a healthy work environment.

Industrial relations remained cordial throughout the year and no material labour disputes were reported. As on March 31, 2026, the Company had 7 employees on its rolls. j. Material Developments in Human Resources / Industrial Relations

There were no material developments on the human resources or industrial relations front during the year under review. The Company continues to promote a culture of professionalism, integrity, teamwork and performance excellence.

k. Key Financial Ratios

The Company continuously monitors key financial and operational parameters including profitability, asset quality, liquidity, leverage and capital adequacy to ensure financial stability and sustainable growth.

l. Cautionary Statement

Statements made in this Management Discussion and Analysis Report describing the Companys objectives, projections, estimates, expectations or predictions may constitute forward-looking statements within the meaning of applicable laws and regulations. Actual results may differ materially from those expressed or implied due to various factors including economic conditions, changes in government policies, regulatory developments, market conditions and other risks and uncertainties beyond the Companys control. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

	Order of the Board of Directors for Oasis Securities Limited
SD/-	SD/-
Rajesh Kumar Sodhani	Devi Dutt Agarwal
Managing Director	Whole Time Director
DIN: 02516856	DIN: 10631960
	Jaipur, August 07, 2026