Systematix Securities Ltd Management Discussions

The Management of Systematix Securities Limited is pleased to present the following Management Discussion and Analysis Report which contains a brief write-up on the industry structure, opportunities and concerns, performance of the company with respect to the operations other information. This chapter on Management Discussion and Analysis forms a part of the compliance report on Corporate Governance.

Despite significant challenges, the global economy displayed resilience in FY 2024-25. According to the International Monetary Fund (IMF), global growth for 2025 was estimated at 3.3%, slightly below the 2000-2019 historical average of 3.7%. The Organisation for Economic Co-operation and Development (OECD) reported a median services price inflation rate of 3.6% across member countries. Additionally, the Shanghai Containerized Freight Index (SCFI) fell by around 40% from early January to late March 2025, indicating a potential decrease in global trade demand.

As a financial services intermediary, the companys growth and profitability are, to a large part, dependent on the stable growth and functioning of the Capital markets. The growth of financial services sector will allow the Company to grow businesses in each of the verticals. However, stubborn inflation, high fiscal and slow pace of reforms has led to the sliding of Indian GDP growth to around 7.4%. Renewed political uncertainly at the centre currently is continuing to cast its shadow on the return of growth. Given this none too-rosy scenario for FY18, the goal for this year for the Company will be to improve operating efficiency.

The Company faces normal business challenges of market competition in its business and needs to continuously seek attractive growth opportunities. The Company adopts suitable business strategies to counter these challenges. As a part of the overall risk management strategy, the

Company consistently insures its assets and generally follows a conservative financial profile by following prudent business practices.

The Companies Internal control/supervisory system is established to ensure that board and management are able to achieve their business objectives in a prudent manner,

safeguarding the interest of Companies shareholders and other stakeholders whilst minimizing the key risk such as fraud, misleading financial statements, breach of legal and contractual obligation, unauthorized business activity.

Your Company follows a strategy of attracting and retaining the best talent and keep employees engaged, motivated and innovative. The Company continues to have cordial relations with its employees and provide personnel development opportunities for all round exposure to them.

Financial and Operational performance forms part of the Annual Report and is presented elsewhere in the report.

Some of the Statements in Management discussion and Analysis describing Companies objective may be "forward looking statement" within the meaning of applicable Securities law and Regulations. Actual results may differ substantially or materially from those expressed or implied. Important factors that could influence companies operation include various global and domestic economic factors.