Sai Capital Ltd Management Discussions

Despite a challenging global landscape, Indias economy stayed resilient. India solidified its position
as the worlds fourth-largest economy, showcasing its significant economic strength and becoming
one of the fastest growing major economies.

In terms of Regulation 34 of the Listing Regulations, the Management Discussion and Analysis report
on your Companys performance, industry trends, and other material changes with respect to the
Company are as under:

I. Industry Structure and Developments & Outlook, Opportunities & Threats and Discussion on
financial performance with respect to operational performance:

The following analysis of Companys financial condition and results of operations should be
read in conjunction with our financial statements and the notes thereto, contained elsewhere in
this Report. Some of the statements in this report constitute forward-looking statements, which
relate to future events or the Companys future performance or financial condition. The
forward-looking statements contained herein involve risks and uncertainties, including
statements as to:

• the Companys future operating results;

• the Companys business prospects

• the impact of investments that the Company expects to make;

• the dependence of the Companys future success on the general economy and its
impact on the industries in which the Company operates and invests;

• the Companys expected financing operations and investments; and

• the adequacy of the Companys cash resources and working capital;

II. Segment wise or product wise performance: N.A.

III. Risk and Concerns: The Company has risk and concerns similar to the industry in which it
operates.

IV. Internal Control Systems and their adequacy: The Company has appropriate Internal Control
Systems and the same are adequate and commensurate to the size of the business.

V. Material Developments in Human Resources / Industrial Relations front, including number of
people employed: There is no material development in Human Resources during the year
under review. Number of people employed during the Financial Year under consideration are
3.

GENERAL DISCLOSURES

Your Directors state that no disclosure or reporting is required in respect of the following items, as
there were no transactions/events of such nature during the year under review:

1. Issue of Equity Shares with differential rights as to Dividend, Voting or otherwise.

2. Issue of Shares (Including Sweat Equity Shares) to employees of your Company under any
scheme.

3. Voting rights which are not directly exercised by the employees in respect of Shares for the
subscription/ purchase of which loan was given by your Company (as there is no scheme
pursuant to which such persons can beneficially hold Shares as envisaged under section
67(3)(c) of the Act).

4. During the year, there was no application made or any proceeding pending in the name of the
Company under the Insolvency and Bankruptcy Code, 2016.

5. There was no instance of one-time settlement with any Bank or Financial Institutions.

6. Revision of financial statements and Directors Report of your Company.

7. Raising of funds through preferential allotment or qualified institutions placement.

CAUTIONARY STATEMENT

Statements in this Report, particularly those which relate to Management Discussion and Analysis as
explained in this Report, describing the Companys objectives, projections, estimates and
expectations may constitute forward looking statements within the meaning of applicable laws and
regulations. Actual results might differ materially from those either expressed, or implied in the
statements depending on the circumstances.

APPRECIATION

The Directors hereby wish to place on record their appreciation for the efficient and loyal services
rendered by each and every employee, without whose whole-hearted efforts, the overall satisfactory
performance would not have been possible. Your Directors look forward to the long-term future of
the Company with confidence.

On behalf of the Board of Directors

For Sai Capital Limited

 

Dr. Niraj Kumar Singh

Chairman & Managing Director

DIN:00233396

Add: 95, Munirka Vihar,

New Delhi-110067

 

Date : August 14,2025

Place : New Delhi