Rashi Peripherals Ltd Management Discussions

Economic Overview

Global

The global economy displayed measured resilience in 2024, navigating persistent geopolitical strains, evolving trade dynamics, and monetary policy shifts. As per the IMFs World Economic Outlook, global GDP expanded by 3.3%. While growth in advanced economies moderated, emerging markets, especially across Asia, helped sustain overall momentum.

Ongoing geopolitical conflicts continued to place pressure global trade and supply chains. Global inflation is estimated to decline to 5.7% in 2024, down from 6.7% the previous year. Developed nations are on a faster track to stabilise prices, averaging 2.6%, whereas inflation in emerging economies expected to taper off at a slower pace.

In light of this trend, central banks in G10 countries adopted an accommodative stance, collectively reducing interest rates by 825 basis points in 2024, the steepest rate cut since 2009.

Real GDP growth	2024	2025 (P)	2026 (P)
World output	3.3	2.8	3.0
Advanced economies	1.8	1.4	1.5
Emerging markets and developing economies	4.3	3.7	3.9

Outlook

Global growth is forecasted to hold steady, with GDP likely to rise by 2.8% in 2025 and 3.0% in 2026. Continued resilience in the US and emerging markets is expected to anchor this trajectory. US GDP is projected at 1.8% in 2025 and 1.7% in 2026, amid softening demand and shifting labour dynamics. Meanwhile, the Eurozone is expected to gradually rebound, with growth climbing from 0.8% in 2025 to 1.2% in 2026, as inflation cools and consumer sentiment improves.

Inflation is anticipated to ease further to 4.3% in 2025

3.6% in 2026. However, the path of monetary policy will likely vary, with central banks tailoring responses to regional economic conditions and domestic priorities.

(Source: IMF World Economic Outlook)

Indian

India sustained its robust growth momentum in FY 2024–25, with the real GDP increasing by 6.5%, as per the NSOs Second Advance Estimates. This performance, following 9.2% growth the previous year, was underpinned by resilient domestic demand, structural policy reforms, and a robust services sector.

Now ranked as the fifth-largest economy globally by nominal

GDP and third by purchasing power parity, India is charting an ambitious growth path. With milestones of reaching a $5 trillion economy by FY 2027–28 and $30 trillion by 2047, growth is being driven by extensive infrastructure investments, digital expansion, and government-led initiatives such as ‘Make in India and the PLI scheme. The capital investment allocation for FY 2025–26 has been raised to 11.21 Lakh Crore, accounting for 3.1% of GDP.

Outlook

Indias economy is projected to grow at 6.2% in FY 2025–26, driven by increasing private investment, ongoing infrastructure development, favourable demographic trends, and robust consumer demand. The country is on track to become the worlds third-largest economy by 2030.

The Union Budget for 2025–26 focuses on inclusive growth, introducing measures such as raising the tax exemption limit to 12 Lakh to stimulate consumption, and significantly increasing capital expenditure on roads, railways, and manufacturing. The budget also reinforces Production-Linked Incentive (PLI) schemes and advances logistics and financial inclusion through initiatives like the transformation of India Post. Inflation is anticipated to moderate by late 2025, potentially allowing for a more accommodative monetary policy stance.

The IT industry continues to be a cornerstone of global economic growth, driving innovation, digital transformation, and productivity across sectors. Within this expansive ecosystem, Information and Communication Technology (ICT) forms a vital subset, encompassing hardware, networking equipment, cloud infrastructure, and communication solutions that serve as the backbone of digital enablement. As businesses and governments increasingly embrace automation, connectivity, and data-driven decision-making, the demand for robust ICT infrastructure is rising rapidly.

This growing need creates significant opportunities for national ICT products distributors that bridge the gap between global technology brands and end-users across geographies. Companies like Rashi Peripherals play a pivotal role in this value chain, ensuring last-mile access, operational continuity, and tailored solutions that enable enterprises, institutions, and consumers to harness the full potential of ICT. As Indias digital landscape expands, Rashi Peripherals remains a key enabler of this transformation.

(Source: PIB, MoSPI, IBEF1, IBEF2, Business Standard, Nasscom)

ICT Distribution

Global market

The global ICT market, valued at USD 5,751 Billion in 2024, is projected to reach USD 9,691.5 Billion by 2033, growing at a CAGR of 6.5%. The pandemic significantly accelerated digital transformation worldwide, with remote work, online education, and enterprise continuity needs driving demand for cloud computing, video conferencing tools, cybersecurity, and broadband infrastructure. As a result, the market saw stronger-than-expected growth post-COVID, surpassing pre-pandemic expectations.

During this time, enterprises rapidly adopted virtual collaboration tools, VPNs, and cloud services, while sectors like healthcare, logistics, and customer service leaned heavily on AI and IoT for continuity and efficiency. In 2024, the global enterprise software market grew 11.9% to USD 899.9 Billion, with cloud subscriptions comprising 60.1% and Generative AI leading growth at 320.4%. Although telecom services expanded, hardware production faced temporary setbacks due to global supply chain disruptions and component shortages.

Regionally, Asia-Pacific leads ICT growth due to urbanisation and digital adoption, with countries like India, China, Japan, and South Korea at the forefront. North America follows, backed by investments in 5G, AI, and cloud. Europe also plays a major role, driven by its innovation focus and regulatory standards like GDPR.

One of the most transformative trends is the rapid adoption of 5G technology, offering faster data speeds, lower latency, and enhanced connectivity. It is enabling breakthroughs in IoT, smart cities, autonomous vehicles, and immersive technologies such as VR and AR. The global rollout of 5G is encouraging massive infrastructure investments, telecom innovation, and cross-sector partnerships.

However, more key drivers drive the demand. These include cloud computing, which offers scalability, flexibility, and cost-efficiency. Moreover, the ICT distribution market is expected to benefit from the MS Windows PC refresh cycle and the anticipated surge in demand for AI-powered computers.

The market is also on an upward trend with the help of IoT, which improves real-time operational visibility, and Big Data analytics, which helps optimise enterprise decision-making. Together, these technologies are reshaping how businesses operate and compete globally.

(Source: Business Research Insights, Gartner)

Indian market

Indias ICT landscape has evolved into a dynamic and expansive digital ecosystem, driven by rapid growth in technology adoption and infrastructure development. Now one of Asias largest digital innovation hubs, India is home to over 60,000 technology firms and 119 unicorns. This progress is largely attributed to the governments strong policy push, focus on digital infrastructure, and sector-wide innovation initiatives. Strengthening the ecosystem further is a vast network of R&D centres, innovation labs, and delivery hubs spread across the country.

The telecommunications sector plays a vital role in this transformation, contributing 8% to the nations GDP and serving over 117 Million subscribers. Massive investments in 5G infrastructure have enabled faster, more reliable connectivity. Leading telecom operators are expanding networks and rolling out 5G services across key metro cities, powering next-gen use cases across industries such as manufacturing, logistics, and healthcare.

Enterprise digital transformation is accelerating, with businesses embracing cloud computing, artificial intelligence, and automation to improve operational efficiency and customer experience. This transformation spans government services, BFSI, retail, manufacturing, and healthcare, where digital tools are driving significant productivity and service improvements.

The Indian ICT market is expected to grow at a CAGR of 9.04% from 2025 to 2030, propelled by the shift toward integrated digital services like cybersecurity, cloud, and analytics. Indias growing global prominence as an IT services hub is backed by its skilled workforce and competitive cost advantage. Smart cities, e-governance platforms, and digital payment ecosystems are further enhancing the nations digital backbone.

Rashi Peripherals Limited is one of Indias leading national distributors for global ICT brands. Serving over 10,255 customers in 708 locations, the company offers a wide product range along with value-added services, such as solution design, technical and credit support, and warranty management. With a pan-India network of 52 branches, 50 service centres, and 68 warehouses as of March 31, 2025, Rashi also operates two business verticals: LIT and PES.

(Source: Mordor Intelligence, Tracxn)

Growth Drivers of the Indian ICT Distribution Market

Government Initiatives and Favourable Policies

The ICT market in India is strongly backed by initiatives like Digital India and the Government e-Marketplace (GeM) platform, which processed 10.55 Million orders worth 2.66

Lakh Crore (USD 33.28 Billion) by 2022. Schemes like RAMP

( 6,000 Crore) and CBFTE are promoting digitalisation of the MSMEs. These programmes expand ICT procurement, creating consistent and large-scale demand for hardware, networking gear, and digital services, directly fuelling growth for ICT distributors across government and SME channels.

Adoption of Digital Technologies and Transformation

With IT services making up 52% of the market in 2024, and the software segment being the fastest-growing, enterprises are investing heavily in AI, cloud, ERP, CRM, and automation tools. ICT distributors are key to supplying and integrating these technologies, offering bundled hardware-software solutions, cloud licenses, and managed services across industries.

MSME Growth and Digitalisation

MSMEs, Indias economic backbone, are growing rapidly, with ICT adoption in this segment projected to grow at ~11% CAGR (2024 to 2029). This shift fuels demand for low-cost, modular tech solutions, allowing distributors to scale through volume-driven sales, SaaS bundling, and regional partnerships.

India as an IT Services Hub and Strategic Investments

With large enterprises holding 58% market share, constant tech refresh cycles, R&D investments, and global partnerships boost demand for advanced ICT tools. The ICT distributors are expected to benefit from this by supplying cutting-edge products and supporting integration at scale.

Sector-Wide Technology Demand

Rising ICT needs across BFSI, retail, manufacturing, and healthcare are driving demand for secure, scalable solutions. Besides, the ICT distributors play a central role in supplying sector-specific ICT products that comply with industry regulations and support digital transformation.

(Source: Mordor Intelligence)

Gaming

Global Market

The global gaming PC market was valued at USD 61.84 Billion in 2024 and is projected to reach USD 129.93 Billion by 2030, growing at a robust CAGR of 13.5% from 2025 to 2030. This growth is primarily driven by the rising global demand for high-performance computing systems capable of supporting next-generation video games and immersive experiences.

The Asia Pacific region led the global gaming PC market in 2024, accounting for over 52.04% of total revenue, reflecting the regions strong consumer base and widespread gaming culture. The increasing popularity of esports tournaments and online multiplayer games is prompting a significant rise in consumer spending on advanced gaming setups. Moreover, the surge in game streaming and content creation on platforms such as Twitch and YouTube is motivating gamers to upgrade their PCs with powerful graphics cards, high-speed processors, and specialised gaming peripherals.

Technological innovations, such as ray tracing, real-time rendering, and support for higher frame rates, are further influencing users to invest in newer and more capable systems to enhance gaming performance and visual realism. Rising disposable income among millennials and Gen Z, combined with growing awareness around customisable and upgradeable PC builds, is sustaining long-term interest in gaming PCs as both entertainment and creative tools.

(Source: Grand View Research)

Indian Market

Indias gaming PC market is projected to grow from USD 2,008.5 Million in 2023 to USD 5,875.8 Million by 2030, registering a CAGR of 16.6% between 2024 and 2030. This surge is driven by growing demand for high-performance gaming systems and an expanding base of digital-first consumers.

As per the IDC Worldwide Quarterly Personal Computing Device Tracker, Indias traditional PC market, including desktops, notebooks, and workstations, shipped 14.4 Million units in 2024, marking a 3.8% YoY increase. By category, notebooks grew 4.5% YoY, desktops recorded a 1.8% YoY growth, and workstations led with a 10.9% YoY increase.

In Q4 2024, the total market grew 6.9% YoY, driven by a 9.6% YoY rise in notebook shipments. Notably, premium notebooks priced above USD 1,000 recorded a strong 13.8% YoY growth in 2024.

The consumer segment grew 2.6% YoY in 2024 and 2.2% YoY in Q4, led by e-tailer sales, which rose 21.7% YoY in 2024 and 29% YoY in Q4. This was supported by vendor channel stocking in late December, ahead of year-end and Republic Day sales. The commercial segment expanded 11.1% YoY in Q4, with enterprise and government demand each rising 10.6% YoY in 2024, driven by procurement on the GeM (Government e-Marketplace) platform.

Indias consumer PC market continues on a strong growth path, led by increasing interest in gaming and the adoption of AI-powered PCs.

(Source: Grand View Research, International Data Corporation)

Growth Drivers for the Indian Gaming Market

Rising Smartphone and Internet Penetration

With over 700 Million smartphone users and affordable 4G access, mobile gaming is booming across urban and rural India. This fuels demand for gaming peripherals, accessories, and compatible hardware, creating strong sales opportunities for ICT distributors offering mobile gaming gear, low-latency routers, and game-ready smartphones.

Growing Youth Demographic and Digital Engagement

Indias large youth population, with high digital engagement and disposable income, is driving demand for immersive gaming experiences. This trend increases sales of high-performance PCs, gaming consoles, and accessories, allowing ICT distributors to scale up their gaming hardware portfolios and tap into education and entertainment cross-segments.

Rise of E-Sports and Streaming Culture

The emergence of esports tournaments and gaming influencers has created a competitive ecosystem. This drives demand for gaming laptops, GPUs, headsets, and streaming tools. ICT distributors benefit by supplying professional-grade gaming setups, expanding their presence in new channels like esports cafes and influencer-driven online retail.

Government Push and Industry Investment

The Indian government recognises gaming as a serious industry, with initiatives like the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021, provide a regulatory framework for online gaming. This boosts demand for development hardware, workstations, and software licenses, enabling ICT distributors to serve B2B clients, indie studios, and educational institutions focused on gaming tech.

(Source: Data Reportal)

Company Overview

Rashi Peripherals Limited, incorporated in 1989, brings over 36 years of experience in distributing ICT products across India. Presently, the Company stands as one of the fastest-growing and most prominent national distribution partners for global ICT brands, both in terms of revenue and distribution network.

Rashi Peripherals has played a pivotal role in formalising the ICT distribution landscape in India. What sets us apart from conventional distributors is our comprehensive, value-added service offering, which includes warranty management, technical support, solution design, marketing services, pre-sales consultation, and credit solutions, ensuring end-to-end support for our customers.

As of FY 2024-25, we have distributed 146.25 Millions units and established one of the countrys largest ICT products distributors in the industry.

Business Verticals

We operate primarily across two key business verticals: Personal Computing, Enterprise, and Cloud Solutions (PES) and Lifestyle and IT Essentials (LIT).

Competitive Advantages

Diversified and Comprehensive Product Portfolio

Rashi Peripherals does not just distribute products; it builds ecosystems. With over 17,900+ SKUs of ICT products in its product basket, it offers a one-stop shop experience for everything from PCs, components, peripherals, and consumer electronics to enterprise solutions, embedded tech, and lifestyle accessories. This sheer range spans entry-level to premium, covering use cases across home, office, gaming,

SMBs, and enterprise.

Long-Term Relationships

Rashi Peripherals Limited sources a wide range of ICT products from original equipment manufacturers (OEMs) and global technology vendors. As of March 31, 2025, we cater to a diverse portfolio of 70 global technology brands, including ASUS Global Pte. Ltd., Dell International Services India Private Limited, HP India Sales Private Limited, Intel Americas, Inc., Lenovo India Private Limited, LG Electronics

India Private Limited, Logitech Asia Pacific Limited, and

NVIDIA Corporation, among others We collaborate closely with these brands to provide competitive benchmarking, channel engagement strategies, and market intelligence to support their Indian operations.

Over the years, Rashi Peripherals has consistently expanded its brand portfolio by partnering with new global technology companies. We support brands with limited or no presence in India by helping them craft market entry strategies, while assisting established players in growing their market share through tailored marketing campaigns, channel development initiatives, and strategic product placement across various price points. Our multi-channel distribution model ensures broad product availability and accessibility nationwide.

These efforts have contributed meaningfully to our partners success in growing, retaining, and deepening their market presence in India. In turn, this has led to a steady increase in our revenue share from these global technology brands, further reinforcing our role as a trusted and value-driven distribution partner in the ICT ecosystem.

Pan India and Multi-Channel Distribution

Rashi Peripherals Limiteds pan-India distribution network entails 52 branches with sales operations and 50 functioning as service centres alongside 68 warehouses as of March 31, 2025. Our primary distribution channels include general trade, modern trade, and e-commerce.

The Company primarily distributes its products through three key channels:

General Trade: This channel includes offline resellers/channel partners, regional distributors (RDs), stockist partners, sub-distributors, retailers, brand stores, system integrators (SIs), original equipment manufacturers (OEMs), and corporate resellers catering to enterprise clients. Collectively referred to as “channel partners,” this network comprises 10,255 customers as of March 31, 2025.

Modern Trade: This channel focuses on large format retail (LFR), multi-format retail (MFR), and small format retail (SFR) chains.

E-Commerce: This includes select leading online marketplaces in India.

Scalable Business Model supported by Advanced Technology Stack

Rashi Peripherals Limited offers a uniquely diverse product portfolio, ranging from pen drive to AI machines. Our distribution network spans 708 towns and cities, and our robust ERP infrastructure enables this extensive business reach. We were the first ICT distribution company in India to implement SAP, and presently, our entire infrastructure runs on SAP S/4 HANA, helping us maintain consistent business performance.

In addition, Rashi Peripherals Limiteds business model is supported by a highly advanced IT infrastructure, capable of managing large transaction volumes across products, customers, and orders. Our current ERP system delivers real-time insights and analytics, enhancing operational efficiency and enabling flexible integration of new features over time.

Real time data analytics aids more efficient resource allocation for marketing and sales activities. Furthermore, we have implemented a CRM system all over India, automating key functions such as sales execution, report generation, stock transfer/allocation, and order creation.

Financial Review and Analysis

Consolidated Statement of Profit and Loss

Particulars	For the year ended March	For the year ended March
	31, 2025	31, 2024
I. Revenue from Operations	1,37,727.33	1,10,946.98
II. Other Income	606.43	143.97
III. Total Income (I + II)	1,38,333.76	1,11,090.95
IV. Expenses
a) Purchases of	1,32,202.16	1,08,329.91
Stock-in-Trade
b) Changes in Inventories	(1,747.37)	(3,314.05)
of Stock-in-Trade
c) Employee	1,683.14	1,517.28
Benefits Expense
d) Finance Costs	775.36	1,071.39
e) Depreciation and	172.40	188.79
Amortization Expenses
f) Other Expenses	2,586.60	1,484.89
Total Expenses	1,35,672.29	1,09,278.21

Risk Management and Mitigation

The Risk Management Committee evaluates the significant internal and external risks, and ensures that appropriate methodology, processes and systems are in place to monitor and evaluate risks associated with the business of the Company. The Board of Directors reviewed the risk assessment and procedures adopted by the Company for risk control and management and is of the opinion that there are no risks that may threaten the existence of the Company. The terms of reference of the Risk Management Committee and activities of the Committee during the year are elaborated in the Corporate Governance Report.

Key Initiatives and Strategic Focus

Leverage Emerging Digitization Trends through Product Portfolio Diversification

Rashi Peripherals Limited continues to diversify and expand its product offerings to reach each of the 700+ districts of India. We are targeting brands focused on product design and enhancing our portfolio. Our aim is to become a one-stop shop for all technology needs of Indian customers. Having entered the embedded business three years ago, we continue to add scanning and printing solutions, related software, and surveillance AI, expanding geo presence. We also offer bundled schemes more frequently to help channel partners drive sales.

The Company is expanding product categories with existing global technology brands. In parallel, we are exploring new business verticals and offering holistic technology solutions.

Widening Geographic Reach

Rashi Peripherals Limited aims to deepen its geographic reach by expanding the presence of existing global technology brands across various states, with a particular focus on Tier II and III cities. To support this expansion, we are intensifying our marketing efforts and introduce targeted programs in key regions to grow vendor share. These efforts include enhancing our end-to-end solutions with comprehensive technical, supply, pre-sales, and post-sales support.

Enhance Efficiencies, Upselling, and Cross-Selling

We offer a full range of high-performance computing products for premium gaming systems, which supports our strategy to drive upselling and cross-selling of bundled solutions. To enhance operational efficiency, we continue to leverage our in-house and reverse logistics infrastructure, coupled with real-time inventory tracking, to meet evolving customer demands. Furthermore, Rashi Peripherals Limited tracks performance through key metrics such as cost efficiency, service consistency, product knowledge and availability, responsiveness, warehouse proximity, and credit support, enabling real-time analytics to improve business outcomes.

Human Resources

Rashi Peripherals Limiteds employees and personnel are its most important assets, critical to maintaining its competitive position within the ICT distribution industry. As of FY 2024-25, our Company has 1,452 full-time employees. We offer health insurance to all employees and their families.

Across our operations, we experienced attrition (calculated as employees who have left, divided by total employees) of 15.36% in FY 2024-25.

The table below provides the breakdown of Rashi Peripherals Limiteds employees as of FY 2024-25:

Department	Number of Employees
Sales and Marketing	564
Accounts, Finance, Credit Control,	279
Legal, and Compliance
Logistics	318
HR and Administration	136
Customer Support	115
Information Technology	25
Marketing Communication	15
Total	1,452

Corporate Social Responsibility

Rashi Peripherals Limited has constituted a corporate and social responsibility (‘CSR) committee of the Board of Directors (the ‘CSR Committee) and has adopted and implemented a CSR policy to carry out CSR activities. We believe in fostering inclusive growth by contributing meaningfully to the communities in which we operate. Our CSR initiatives are structured around the core areas of Education, Healthcare, Rural Development, Animal Welfare, and Sports, in alignment with the Government of Indias development agenda and the UN Sustainable Development Goals (SDGs).

In FY 2024-25, our contribution to corporate social responsibility aggregated to 38.38 Million and accounted for 0.03% of our total expenses.

Education & Literacy

Our focus on education is driven by the belief that knowledge is a key catalyst for empowerment and transformation. We are actively supporting several initiatives aimed at both foundational and adult education:

• Friends of Tribal Society, Ekal Vidyalaya Programme

Supporting the education of tribal and rural children through the ‘Each One Teach Many (EOTM) model. This initiative is aligned with the Government of Indias Nav Bharat Shiksha Karyakram, which seeks to make 50 Million adults literate by 2027. Under this model, Akshar Sathi (community teachers) conduct literacy classes in over 650 rural villages, often operating from under trees or in community spaces, providing education to those who are otherwise excluded from the formal system.

• Child and Youth Development – Param Shakti Peeth, Vrindavan

Supporting a range of educational and developmental programs aimed at nurturing values, education, and vocational skills among children and youth.

• Support for Lonavala Schools, Gurukul, Vidya

Vinay Sabha

Facilitating access to quality primary and secondary education for underprivileged students in and around Lonavala.

• Holistic Education and Healthcare, Dakshini Prayash

Partnering to deliver holistic education and healthcare to economically marginalized communities, combining learning with basic health services.

Healthcare

Ensuring access to quality healthcare remains one of our top CSR priorities, especially in underserved areas:

• Paediatric Orthopaedics Surgery Camps Sanjeevani

Hospital, Rotary Royales Foundation

Organizing free surgeries and post-operative care for children with orthopaedic deformities, contributing to long-term mobility and dignity.

• Infrastructure Support Shri Radhakishan Mahaveerprasad Pansari Hospital, Ramgarh

(Rajasthan)

Strengthening healthcare infrastructure by supporting the development of medical facilities and procurement of critical equipment, enhancing patient care in the region.

Rural Development & Livelihoods

We are committed to enabling sustainable livelihoods in rural India through vocational training and enterprise development:

• Gram Udyog Training Ashok Singh Memorial Trust

(Pune Rural)

Supporting rural entrepreneurship and income generation through skill development in traditional and contemporary trades.

Sports Development

Recognizing the role of sports in community building and youth empowerment, we have undertaken:

• Multi-Sports Infrastructure Shekhawati Region (Rajasthan), Ramgarh Parishad

Supporting the construction and development of integrated sports facilities to nurture grassroots talent and promote physical well-being.

Animal Welfare

As part of our commitment to compassionate social development, we have also supported:

• Animal Shelter & Facilities – Shri Krishna Gaushala, Udaipur

Contributing to the construction and maintenance of shelters, ensuring care, food, and medical facilities for stray and abandoned animals.

Impact and Alignment

Our CSR activities have directly benefited thousands of individuals, particularly in rural, tribal, and economically weaker communities. These initiatives are monitored regularly for effectiveness and sustainability, and we continuously align our strategy with national priorities such as Digital India, Skill India, Swachh Bharat Abhiyan, and Ayushman Bharat.

We remain committed to inclusive development, ensuring that our business success is shared with the communities we serve.

Internal Control Systems and their Adequacy

A brief note on internal control systems is enclosed as a part of the Boards Report which forms a part of this Annual Report.

Cautionary Statement

This Management Discussion and Analysis contains forward-looking statements about Rashi Peripherals Limiteds plans, objectives, expectations, and intentions. These statements are based on the Companys current assumptions and beliefs in light of the information currently available to us. The forward-looking statements are subject to various risks and uncertainties, including but not limited to changes in market conditions, competition, economic developments, and regulatory factors.

Readers are cautioned that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Rashi Peripherals Limited undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

The Company disclaims any obligation to update these forward-looking statements except as required by law. Investors are advised to exercise caution and not to place undue reliance on these forward-looking statements while making investment decisions.