ROX Hi-Tech Ltd Management Discussions

Macroeconomic Overview

Global Economy

The global economy in CY 2026 is navigating a year of crosscurrents, shaped by the interplay of geopolitical conflict and an accelerating technology-led investment cycle. Global GDP growth is estimated to have held at around 3.5% in CY 2025, before easing to 3.0% in CY 2026, reflecting the drag from the war in the Middle East on energy-importing and vulnerable economies, even as AI-driven demand lifts economies integrated into the global technology value chain.

Advanced economies are projected to grow by 1.7% in CY 2026, while Emerging Market and Developing Economies (EMDEs) are expected to slow to 3.8% before rebounding to 4.5% in CY 2027, driven by digital transformation and infrastructure investments. The U.S. continues to demonstrate resilience on the back of large-scale AI infrastructure investment, whereas the Eurozone remains constrained by energy-price volatility and its proximity to the Middle East conflict. India and Southeast Asia continue to emerge as key growth engines, fuelled by rapid digital adoption, expanding IT infrastructure, and government-led tech initiatives.

Global Economic Growth (%) (Real GDP, Annual % Change)

Region / Economy	CY 2025	CY 2026 (P)	CY 2027 (P)
Global GDP	3.5	3.0	3.4
Advanced Economies	1.9	1.7	1.8
United States	2.1	2.3	2.2
Euro Area	1.4	0.9	1.2
Emerging Markets	4.5	3.8	4.5
Emerging Asia	5.6	5.0	4.8
China	5.0	4.6	4.1
India	7.7	6.4	6.7

Source: International Monetary Fund (IMF), July 2026 WEO Update;

Outlook

Global growth is projected at 3.0% in CY 2026 and 3.4% in CY 2027, broadly unchanged on a cumulative basis from earlier projections, with advanced economies growing at 1.7-1.8% and emerging markets rebounding from 3.8% to 4.5%. The escalation of the Middle East conflict and the resulting volatility in energy prices pose risks to supply chains and tech-sector investments, particularly for energy-importing economies with limited participation in the technology value chain. These disruptions could elevate costs for hardware, semiconductors, and cloud infrastructure, impacting IT infrastructure deployments globally.

Despite these challenges, accelerated AI-driven demand, digital adoption, and smart infrastructure investments; particularly in high-growth, technology-integrated regions like India and Southeast Asia, present significant opportunities for Rox. The company is well-positioned to leverage these trends through its expertise in networking solutions, cybersecurity, cloud and data center solutions, and next-gen digital transformation technologies.

Indian Economy

India continues to be one of the fastest-growing major economies, driven by its demographic advantages, strong domestic demand and ongoing structural reforms with a strong digital underpinning. The country is playing an increasingly significant role in the global economy, supported by Goods and Service Tax (GST) and sustained growth in key sectors such as technology-enabled manufacturing, next-gen infrastructure and digital services. Indias GDP growth for FY 2025-26 was revised upward through the year, the RBI raised its estimate from 6.5% in August 2025 to 7.4% by February 2026 while MOSPIs Second Advance Estimate (27 February 2026) placed growth at 7.6%. On stronger-than-expected momentum, even as the FY 2027 outlook has been tempered by global uncertainties including the war in the Middle East, elevated crude oil prices and rupee depreciation from foreign fund outflows, according to the Reserve Bank of India (RBI) and the Ministry of Statistics and Programme Implementation (MOSPI). Despite these headwinds, India has maintained a resilient growth trajectory, supported by the strong performance of its technology-led services sector, increased public infrastructure investment and government initiatives focused on digital transformation, financial inclusion and improving the business environment through tech-enabled solutions.

Indian GDP Growth Rate (in %)

FY 2024	FY 2025*	FY 2026#
9.2	7.7	6.5

Source: *MOSPI Provisional Estimates, FY26
#Reserve Bank of India (RBI) Monetary Policy Committee (MPC) report dated 5th August 2026

Inflation trends improved through FY 2026, giving the RBIs Monetary Policy Committee (MPC) room to ease policy through the year before holding the repo rate steady at 5.25% in its August 2026 review, while maintaining a Neutral policy stance amid heightened global uncertainty, including geopolitical tensions in the Middle East. Consumer Price Index (CPI) inflation for FY 2027 is projected at around 5.0%, a modest upward revision reflecting rupee depreciation and elevated crude oil prices, even as the RBIs growth outlook for FY 2027 was raised to 6.7% on the back of stronger-than-expected first-quarter performance, supported by robust manufacturing output and sustained domestic demand. Despite external pressures, Indias medium-term growth outlook remains positive, underpinned by proactive policy measures, a growing tech-savvy middle class and strengthening digital economic fundamentals.

Outlook

Despite ongoing geopolitical tensions, including the war in the Middle East, and global market volatility, Indias economic outlook remains resilient, with GDP growth expected to continue to outpace the global average into FY 2027. Strategic government initiatives, including the Production-Linked Incentive (PLI) scheme for tech manufacturing, measures to attract foreign capital such as the waiver of long-term capital gains tax for Foreign Portfolio Investors on government securities, and increased investment in digital infrastructure, renewable energy and technology-led transformation, are expected to drive long-term economic growth and boost Indias global competitiveness. These factors continue to position India on the path to becoming the worlds third-largest economy by the turn of the decade. While elevated crude oil prices, a weaker rupee and evolving global trade dynamics have created near-term challenges for export-oriented sectors, overall investor sentiment remains resilient, supported by continued policy reforms and accelerated digitalization that are enhancing transparency and operational efficiency, positioning the economy to be more structured, adaptable and future-ready in an increasingly digital global marketplace.

Industry Overview

Global IT Industry

The global Information Technology (IT) industry continues to evolve at a rapid pace, driven by the accelerating build-out of AI infrastructure and shifting market demands across sectors. Global IT services spending is projected to surpass USD 1.87 trillion in CY 2026, forming the largest component of overall IT spending, as enterprises continue to invest in cloud computing adoption, cybersecurity, innovation and automation. Key growth drivers include the rise of IoT, data analytics, AI/ML, and the persistent shift to remote/hybrid work models, which continue to boost demand for flexible, scalable IT solutions. Cloud migration is further intensifying the need for services to manage and secure these environments amid escalating cyber threats. Data center systems have emerged as the fastest-growing segment of global IT spending in CY 2026, powered by the build-out of AI-optimized infrastructure and hyperscale computing capacity. The IT services industry continues to expand rapidly, playing a critical role in supporting business agility, resilience and growth across sectors.

Rising IT spending, particularly on SaaS and cloud-based solutions, continues to fuel market demand. These services enhance business process efficiency while allowing firms to focus on core operations without managing complex IT infrastructure. Organizations are increasingly leveraging IT services for everything from employee record management to sophisticated supply chain and operations oversight.

Generative AI (GenAI) continues to transform the technology landscape, driving innovation across industries and reshaping approaches to automation, creativity and data-driven decision-making. Investment in AI infrastructure and GenAI capabilities is accelerating, with Gartner forecasting worldwide spending on GenAI models to grow by 117% in 2026. AI infrastructure is expected to remain the largest area of AI spending, accounting for more than 45% of the market, driven primarily by vendors and hyperscalers expanding capacity to support GenAI models and agentic workflows. Gartner also projects worldwide spending on data center systems to reach approximately USD 788 billion in 2026, representing growth of 55.8%.

According to Gartner, worldwide IT spending is projected to reach USD 6.31 trillion in 2026, representing a 13.5% increase over 2025. Data center systems are expected to record the strongest growth at 55.8%, followed by software spending of approximately USD 1.44 trillion. IT services are projected to exceed USD 1.87 trillion, while device spending is expected to reach approximately USD 856 billion and communications services approximately USD 1.36 trillion. The continued expansion reflects strong investment in AI infrastructure, software and cloud capabilities, although Gartner notes that enterprise AI spending remains more measured as organisations focus increasingly on demonstrating tangible business value and return on investment.

Software is projected to grow 13.9% to USD 20.4 billion, followed by IT services at 8.3%, while spending on devices and communication services is expected to grow more modestly, together remaining important components of the regions evolving IT landscape.

MENA IT Spending Forecast, 2025-2026 (millions of USD)

Segment	2025 Spending	2025 Growth (%)	2026 Spending	2026 Growth (%)
Data Center Systems	9,455	69.3	12,984	37.3
Devices	32,793	6.7	35,234	7.4
Software	17,949	11.7	20,452	13.9
IT Services	34,061	6.9	36,894	8.3
Communication services	60,905	4.4	63,456	4.2
Overall IT	155,163	8.8	169,019	8.9

Source: Gartner (August 2025)

Europes IT spending is expected to reach USD 1.43 trillion in CY 2026, up 11.1% from CY 2025. Key growth segments include software, which is projected to grow 15.6% to USD 335.4 billion, and IT services, which are expected to increase 10.1% to USD 539.9 billion. Data center systems are forecast to grow 18.8% to USD 99.3 billion, supported by continued investment in AI infrastructure and AI-optimised servers. At the same time, digital sovereignty is emerging as an important consideration for European CIOs, influencing cloud investment and technology decisions.

Europe IT Spending Forecast (millions of U.S. Dollars)

Segment	2025 Spending	2025 Growth (%)	2026 Spending	2026 Growth (%)
Data Center Systems	83,632	38.2	99,335	18.8
Devices	143,668	11.0	158,193	10.1
Software	290,235	14.7	335,409	15.6
IT Services	490,398	9.0	539,927	10.1
Communication services	277,826	7.0	294,988	6.2
Overall IT	1,285,760	11.6	1,427,852	11.1

Source: Gartner (November 2025)

Outlook

The global IT industry is expected to maintain strong growth in CY 2026, supported by continued investment in digital transformation and the rapid expansion of AI infrastructure. Gartner forecasts worldwide IT spending to reach approximately USD 6.31 trillion in 2026, with data center systems recording the strongest growth as organisations and technology providers expand infrastructure to support AI workloads. Investment in software and IT services is also expected to remain strong as organisations adopt AI, cloud and other digital technologies.

At the same time, evolving regulatory, geopolitical and digital sovereignty considerations are influencing technology investment decisions across markets. Organisations are increasingly required to strengthen data governance, security and compliance capabilities while adapting to changingregulatory environments. For technology companies, this creates opportunities to build greater resilience and trust into both internal operations and customer-facing solutions. As AI adoption accelerates, the ability to combine innovation with security, governance and demonstrable business value will remain an important differentiator in the technology landscape.

Sources: Gartner, IMF, Grand View Research

Indian IT Industry

The Indian IT industry has firmly established itself as a global hub for technology and innovation, demonstrated by the growing presence of multinational corporations (MNCs) and global capability centers (GCCs). With over 1,800 GCCs now operating across India, employing close to 1.9 million professionals and generating in excess of USD 64 billion in revenue, the sector shows increasing specialization in high-value services and product engineering. This technological maturity is reflected in the Indian IT services market, which is projected to grow at a healthy CAGR through the rest of the decade, underscoring rising global demand for digital transformation solutions, cloud services, cybersecurity, and data analytics. Indian IT providers play a pivotal role in helping global enterprises streamline operations, reduce costs, and enhance productivity while securing digital assets. The countrys vast talent pool, proven global delivery model, and evolving digital ecosystem continue to reinforce its position as a leader in the global IT services landscape.

Artificial Intelligence and automation are revolutionizing Indias IT services sector by driving operational efficiency, cost optimization, and enhanced personalization. Technologies like machine learning, natural language processing, and robotic process automation (RPA) are being widely deployed to automate routine tasks, improve decision-making, and transform customer experiences through solutions like AI-powered chatbots. RPA implementations are significantly improving back-office operations by reducing errors and accelerating processes. AI is also playing an increasingly critical role in cybersecurity, providing advanced threat detection capabilities and real-time response mechanisms to protect sensitive data. With Indian IT firms making substantial investments in AI research and development, these technologies are poised to deliver greater innovation, productivity gains, and competitive advantages across industry verticals.

India IT Spending Forecast, 2024-2026 (millions of USD)

Segment	2024 Spending	2024 Growth (%)	2025 Spending	2025 Growth (%)	2026 Spending	2026 Growth (%)
Data Center Systems	4,310	12.9	7,788	29.2	9,385	—
Devices	55,907	13.0	60,443	9.4	66,442	—
Software	17,904	15.7	21,032	12.1	24,741	—
IT Services	30,065	8.8	31,854	7.0	35,383	—
Communications Services	35,713	5.0	38,348	3.8	40,414	—
Overall IT	143,899	10.3	159,465	8.7	176,365	—

Source: Gartner (November 2025)

Outlook

Indias technology sector is positioned for sustained long-term growth despite near-term challenges including elevated crude oil prices, currency volatility and macroeconomic uncertainties stemming from the Middle East conflict. The expansion of Engineering R&D services and Global Capability Centers (GCCs) remains a primary growth driver, with Digital Engineering gaining strong momentum across BFSI, Healthcare, and Retail sectors. This segment has accounted for a significant portion of major deals, reflecting the industrys strategic shift toward high-value services and product innovation. Export revenues now show a more balanced distribution between global multinationals (including GCCs) and Indian service providers, while the continued increase in operational GCCs underscores Indias growing importance as a center for advanced technological capabilities.

Domestically, technology spending has outpaced export growth for two consecutive years, fueled by accelerated adoption of enterprise software, cloud services, and substantial expansion in data center infrastructure. The digital economys contribution to GDP continues to rise significantly, with Digital Public Infrastructure emerging as a powerful catalyst for inclusive growth. E-commerce is demonstrating robust expansion, approaching major milestones in gross merchandise value. AI adoption is progressing rapidly, with most implementations focused on developing scalable solutions, while an increasing number of GenAI pilot projects are transitioning to full-scale production. Nearly all leading technology firms are now embedding AI, Cloud, Data, and GenAI capabilities into their core service offerings, signaling a fundamental transformation in Indias IT landscape.

Sources: Gartner, NASSCOM, Wisemonk

Business Overview

ROX has established itself as a trusted partner for businesses seeking comprehensive IT solutions, with expertise spanning from infrastructure to cutting-edge digital transformation. Over the past two decades, we have built a strong reputation through our commitment to excellence and strategic partnerships with global technology leaders including SAP, IBM, Lenovo, Cisco, and Google.

Our recent achievements underscore our growing capabilities and market leadership. For FY 2026, ROX reported total income of 210.6 crore, up 9.24% year-on-year, with EBITDA of 30.51 crore (14.48% margin) and Profit After Tax of 17.64 crore (8.7% margin), while net worth grew to 130.91 crore. This performance was underpinned by continued traction in enterprise digital transformation projects across industries, supported by cloud, AI and automation capabilities, and by deepened alliances with leading technology providers including SAP, Cisco, IBM and Google. Momentum has carried into FY 2027, with Q1 revenue rising 22.83% year-on-year to 56.50 crore, on the back of 45 crore of new orders that lifted the order book to 92 crore. ROX has also expanded its global footprint with the establishment of subsidiaries in Singapore, the USA, Denmark, and Mauritius. These subsidiaries, focusing on areas such as computer hardware wholesale, enterprise software development, and IT consulting, position it to capitalize on international market opportunities and strengthen our global partnerships.

The Companys commitment to sustainability and industry leadership is reflected in its recognition as a Founding Member of the Indian Green Building Council (IGBC) and its membership with the Confederation of Indian Industry (CII). These affiliations highlight the Companys dedication to sustainable development and excellence in the IT sector.

Further enhancing its operational capabilities, ROX received approval to establish a unit in ELCOT SEZ, Trichy, which will optimize logistics, enhance manufacturing, and facilitate seamless international trade.

At the heart of the Companys success is its people-first approach. It continues to reward and retain top talent through the ROX Employee Stock Option Plan 2024, ensuring its team remains motivated and aligned with its growth objectives.

ROX stands out in the competitive IT landscape through its unique positioning as the trusted partner to secure RISE with SAP deals in both private and public clouds, combined with its expertise in IoT and smart infrastructure solutions. The Companys focus on innovation, security, and seamless integration enables it to deliver tailored solutions that drive digital transformation and sustainable growth for its clients.

As it continues to expand and innovate, ROX remains committed to empowering businesses with advanced IT solutions that navigate the complexities of the digital age. Its holistic approach, global reach, and unwavering dedication to excellence ensure the Company delivers unmatched value to its clients, helping them thrive in an ever-evolving technological landscape.

Financial Performance

FY 2026 was a year of steady consolidation for ROX, marked by consistent growth in revenues and a stable operating performance.

Our total income stood at 210.63 Cr compared to 189.19 Cr in FY25, reflecting a modest year-on-year growth of 9.24%. This growth was supported by sustained demand for our technology solutions and the expansion of our client engagements.

EBITDA stood at 30.51 Cr, maintaining margins of 14.48% in line with the previous year. Profit after Tax (PAT) stood at 17.64 Cr, with a PAT margin of 8.70%, demonstrating our ability to deliver consistent profitability while absorbing higher costs from investments in people and operations.

The Companys net worth strengthened to 130.91 Cr from 110.15 Cr in FY25, further improving its financial resilience. Cash balances also improved significantly, reaching 27.45 Cr, providing healthy liquidity to support future growth.

Ratio Analysis

In compliance with listing requirements, the key consolidated financial ratios are provided below:

Particulars	FY26	FY25	% Variance
Debt-Equity Ratio	0.52	0.43	23%
ROE	0.13	0.18	-24%
ROCE	21.87%	27.54%	-21%
EPS (?)	7.72	8.46	—
Net Profit Margin	8.48%	10.36%	-18%
Operating Profit Margin (EBITDA Margin)	14.48%	16.74%	—

Risks and concerns

Risk Factors

ROXs commercial success is fundamentally tied to its capacity for innovation and delivery of specialized IT solutions across diverse industry sectors. The following key risks could materially impact its operations:

A. Innovation and Competitiveness

Failure to consistently develop proprietary, cutting-edge solutions may result in over-reliance on third-party services, potentially increasing operational costs and eroding our market differentiation.

B. Client Retention and Market Dynamics

Evolving client requirements, rapid industry shifts, and intensifying competition could adversely affect our ability to maintain and grow our client portfolio, particularly in high-value computing segments.

C. Talent Acquisition and Compliance

Our success depends on attracting and retaining skilled professionals. Any non-compliance with partner obligations, contractual commitments, or applicable governance requirements may adversely impact client relationships and strategic alliances.

D. Cybersecurity and Data Privacy

As a technology solutions and managed services provider, ROX faces risks from cyberattacks, data breaches, unauthorised access and system vulnerabilities. Such incidents could disrupt operations, affect client trust and result in financial, regulatory or reputational consequences.

E. Government Contracts and Macroeconomic Conditions

Failure to secure government tenders, coupled with rising input costs and unfavourable economic trends in India, could substantially pressure our margins and growth trajectory.

F. Legal and Regulatory Environment

Unanticipated changes in regulatory frameworks or unfavorable legal rulings may disrupt operations and financial performance.

Proactive management of these risks remains essential to safeguarding our profitability and ensuring sustainable growth.

SWOT Analysis

Strengths

• Recognized as a preferred partner by leading global IT equipment suppliers
• Direct access to cutting-edge technology and advanced equipment
• Highly skilled and continuously trained professional workforce
• Established trust with blue-chip clients, evidenced by repeat engagements
• Rigorous quality assurance protocols across all operations
• Uncompromising commitment to data privacy and information security

Weaknesses

• Elevated operational costs due to specialized manpower requirements
• Constant need for workforce upskilling to maintain technical edge
• Reliance on core promoter group and key managerial personnel

Opportunities

• Growing market demand for modular and reusable IT components
• Accelerated digital adoption across sectors in the post-pandemic economy
• Government policies promoting nationwide IT infrastructure development
• Strategic alignment with Indias Digital Mission initiatives

Threats

• Intensifying competition for top-tier technical talent
• Accelerated technology obsolescence cycles
• Potential business disruptions from pandemic-related restrictions
• Hyper-competitive market landscape with shrinking differentiators

Human Resource

ROX, recognizes that its people are the cornerstone of its success. The Companys human resource philosophy is built on nurturing talent, fostering innovation, and creating an environment where every team member can thrive. It invests significantly in continuous learning and development programs that equip its employees with cutting-edge technical skills and leadership capabilities, ensuring they remain at the forefront of industry advancements. Its culture emphasizes collaboration, creativity, and mutual respect, where diverse perspectives come together to drive better solutions and business outcomes.

The workforce strategically blends seasoned professionals with emerging talent, creating an optimal balance that delivers operational stability, sustainable growth, and uncompromising quality standards. The following department-wise employee distribution reflects the Companys organizational structure as of March 31, 2026:

Sr. No Division	Number of Employees
1 Accounts & Finance	12
2 Business Development	14
3 Design & Engineering	15
4 Human Resources & Administration	5
5 Software Services	75
6 Technical Services & Troubleshooting	10
7 Management	7
8 Product Specific Specialist	5
9 Logistics	3
10 Purchase	2
11 Quality Division	2
12 Sales & Marketing	10
13 Store	2
14 Supply Planning	2
Total	164

What sets ROX apart is its balanced approach to workforce composition - it strategically combines experienced professionals with young talent to maintain both stability and fresh thinking. This blend allows it to preserve institutional knowledge while staying agile in a rapidly evolving technological landscape. The Companys commitment to employee growth is reflected in its strong retention rates and high engagement scores. It goes beyond traditional training by offering mentorship programs, clear career pathways, and opportunities to work on challenging projects that push boundaries.

In the competitive IT services sector, the Company understands that its human capital is its most valuable asset. Thats why it continues to strengthen its talent acquisition and development strategies, ensuring ROX remains an employer of choice. The people dont just support its business goals - they are active participants in shaping the future as the Company navigates the digital transformation landscape together. Through this comprehensive approach to human resource management, it is building not just a workforce, but a community of technology leaders who drive innovation and deliver exceptional value to its clients.

Internal Control Systems and their accuracy

ROX has established a comprehensive internal control framework that serves as the foundation for its operational integrity and financial discipline. Its systems are carefully designed to comply with the Companies Act 2013 and adhere to the COSO Internal Control - Integrated Framework, ensuring it meets both regulatory requirements and industry best practices. The framework provides reasonable assurance regarding the reliability of financial reporting, effectiveness of operations, and compliance with applicable laws and regulations. It maintains strict controls over financial transactions through a clearly defined delegation of authority that governs approval processes and expenditure limits at all organizational levels. The periodic review mechanisms ensure that business plans remain aligned with strategic objectives while adapting to changing market conditions. Technology plays a pivotal role in the Companys control environment, with enterprise-wide ERP systems maintaining accurate, real-time records across all business functions. These systems not only safeguard the Companys assets but also enhance decision-making through timely access to management information. Recognizing that effective controls must evolve with the business, it continuously assesses and enhances the Companys processes to address emerging risks and maintain the highest standards of corporate governance. This ongoing commitment to robust internal controls reinforces stakeholder confidence while supporting sustainable business growth in an increasingly complex regulatory landscape.

Key aspects of the Companys control environment include:

• Structured financial and operational controls
• Clear authorization protocols
• Integrated technology solutions
• Continuous monitoring and improvement

The internal control system represents more than just compliance; it is a strategic asset that protects company interests while enabling operational excellence.

Corporate Social Responsibility

ROX views Corporate Social Responsibility as an important part of its commitment to inclusive and sustainable development. During FY 2026, the Company invested 48.27 lakh across initiatives covering education, research and innovation, healthcare, disability empowerment, sanitation and livelihood development. The initiatives were undertaken in collaboration with academic institutions and non-profit organisations, with a focus on addressing specific community needs and creating sustainable social impact.

Advancing Education, Research and Innovation

As part of its focus on education and technology-led development, the Company contributed 25 lakh towards the establishment of an Artificial Intelligence Research Center at G.B. Pant University of Agriculture & Technology, Pantnagar.

The Center is intended to provide students, researchers and faculty with a platform to undertake research in Artificial Intelligence, Machine Learning, Data Analytics, Precision Agriculture and other emerging technologies. The initiative seeks to strengthen industry-academia collaboration, encourage academic research and nurture future technology leaders, while supporting the development of technology-driven solutions for real-world challenges.

Promoting Inclusion and Empowerment

The Company extended 10 lakh in CSR support to the National Institute for Empowerment of Persons with Multiple Disabilities (NIEPMD) towards infrastructure, technology and sports development.

The initiative supports improvements to rehabilitation, education and training facilities, while also contributing to sports infrastructure for students with disabilities. NIEPMD students have achieved success at the national level in Boccia and earned the opportunity to represent India internationally. Through this intervention, the Company is supporting greater access to infrastructure, technology, education and opportunities for persons with disabilities.

Supporting Rural Education and Livelihoods

The Company contributed 8 lakh through its partnership with Jeevidham Trust towards school sanitation and livelihood development in rural communities.

The initiative includes the construction and improvement of sanitation facilities in schools, supporting cleaner and safer learning environments for students. It also includes livelihood support for women through the provision of an Areca Leaf Plate Making Machine to a Womens Self-Help Group in Pallipuram Village. The initiative enables income generation through the production of biodegradable leaf plates while supporting entrepreneurship, financial independence and environmental sustainability.

Enabling Access to Critical Healthcare

As part of its focus on healthcare and child welfare, ROX provided 2.80 lakh through SOS Childrens Villages India towards heart transplant surgery and recovery support for a minor requiring urgent medical intervention.

The contribution supported surgery, post-operative treatment and recovery care, helping facilitate timely access to critical healthcare.

Creating Meaningful and Lasting Impact

The Companys CSR initiatives during FY 2026 span technology and education, disability inclusion, rural development, womens livelihoods and access to healthcare. Together, these interventions reflect ROXs focus on directing CSR investments towards areas with the potential to strengthen capabilities, improve access and support inclusive development.

Through continued engagement with academic institutions, non-profit organisations and community-focused initiatives, the Company aims to address critical societal needs while contributing to inclusive growth and nation-building.

Cautionary Statement

The Companys objectives, projections, outlook, expectations, estimates, and other information expressed in the Management Discussion and Analysis may be considered forward-looking statements under applicable securities laws and regulations. These statements are based on certain assumptions that the Company cannot guarantee. Several circumstances, some of which the Company may not have direct control over, could substantially impact the Companys operations. As a result, actual results may differ materially from such projections, whether expressed or implied, due to factors beyond the Companys ability to successfully implement its growth strategy. The Company assumes no obligation or responsibility to update forward-looking statements or to publicly amend, modify, or revise them to reflect events or circumstances that occur after the date of the statement based on subsequent development, information, or events. The Management of ROX presents below an analysis of its performance during the year under review, i.e., accounting year ended 31st March, 2026 (for the period April 1, 2025, to March 31, 2026).