TechNVision Ventures Ltd Management Discussions

Overview

Global Economic Outlook for 2025: Trends, Influences, and Risks

The World Economic Outlook (WEO) update by the International Monetary Fund (IMF) projects a continued deceleration in global economic growth. According to the IMF, the global economy is expected to expand by 3.0% in 2025 and slightly lower at 2.9% in 2026 , down from 3.2% in 2024 (IMF, 2025). These figures reflect a sustained moderation in growth, remaining below the historical average of 3.7% observed over the past two decades.

Several structural and cyclical factors are contributing to this global slowdown:

Key Factors Influencing Global Growth

Trade Policy Uncertainty: Rising protectionism and trade tensions are disrupting global supply chains and reducing cross-border investment, thereby dampening trade-driven growth (IMF, 2025).

Geopolitical Risks: Ongoing conflicts and geopolitical instability, especially in key energy-producing and trade-relevant regions, continue to weigh heavily on investor confidence and economic activity.

Inflation Dynamics: While inflation has moderated in several advanced economies, it remains elevated or resurgent in others, complicating monetary policy responses (IMF, 2025).

Monetary Tightening: Higher interest rates and tightening financial conditions in both advanced and emerging markets are expected to constrain domestic demand and investment.

Risks to the Outlook

The global economic outlook remains fragile and is subject to several downside risks, including:

Further escalation of trade tensions or the imposition of new trade barriers.

Slower-than-anticipated recovery in major economies such as the United States, China, or the Eurozone.

Intensification of existing geopolitical conflicts or emergence of new ones.

Increased frequency and severity of climate-related natural disasters.

Rising debt levels in developing and middle-income countries, raising concerns about sovereign defaults.

Volatility in global financial markets, driven by shifts in investor sentiment or abrupt policy changes.

If these risks materialize, they could further hinder recovery efforts and extend the period of subdued global growth.

The financial statements have been prepared in compliance with the requirements of the Companies Act 2013, and Indian Accounting Standards (IND AS). The Management of TechNVision accepts responsibility for the integrity and objectivity of these financial statements, as well as for various estimates and judgments used therein.

The estimates and judgments relating to the financial statements have been made on a prudent and reasonable basis, in order that the financial statements reelect in a true and fair manner the form and substance of transactions, and reasonably present the Companys state of affairs and profits for the year. The following discussion may include forward looking statements which may involve risks and uncertainties, including but not limited to the risks inherent to Companys growth strategy, dependency on certain clients, dependency on availability of qualified technical personnel and other factors discussed in this report.

Industry Structure, Developments, and Outlook

As part of our transformation journey, we have realigned our sales, services , and engineering functions to streamline operations and accelerate innovation. This organizational shift supports a simplified operating model that enables faster execution and a sharper focus on three strategic pillars, now reinforced by the launch of Solix Enterprise AI:

Enterprise AI Cloud Transition

With the introduction of Solix Enterprise AI , we are enabling customers to transition legacy applications and data workloads to an AI-ready cloud infrastructure . This includes support for large-scale application retirement, AI-powered data discovery , and foundation model?€“ready data pipelines , empowering organizations to build intelligent systems on top of their enterprise data.

Big Data & Governance

We continue to lead with our expertise in data archiving, governance, and lifecycle management , now enhanced with AI capabilities for automated classification, policy enforcement, and data compliance. The Solix platform ensures organizations can govern massive volumes of structured and unstructured data while preparing it for analytics and AI workloads.

Enterprise Receivables Management ?€“ Digital Assistants

Our focus on digital transformation within finance operations is expanding with AI-powered digital assistants . These solutions streamline receivables processes, improve customer interactions, and deliver real-time insights for better cash flow forecasting, risk assessment, and automation of routine tasks.

We believe that focusing on these priorities will best position us to grow. For Cloud Infrastructure IDC predicts a 33.3% growth in 2025, reaching $271.5 billion

The Enterprise Artificial Intelligence (AI) market is poised for substantial expansion, with estimates suggesting it will reach USD 229.3 billion by 2030 , growing at a compound annual growth rate (CAGR) of 18.9% from 2025 to 2030, according to a recent report by Mordor Intelligence (source). Other analysts forecast even more aggressive growth, with some projections placing the market size at USD 473.03 billion by 2030 , reflecting surging enterprise-level AI adoption.

Enterprise AI is becoming a foundational element of modern digital infrastructure. Businesses are increasingly investing in AI-ready platforms and architectures to gain competitive advantage, improve efficiency, and accelerate innovation. This momentum is driving increased demand for advanced compute, storage, and networking capabilities tailored specifically for AI workloads. Consequently, AI-related infrastructure spending is expected to rise sharply, supporting large- scale digital transformation across industries.

For 2025, IDC forecasts that global cloud infrastructure spending will reach $271.5 billion, marking a 33.3% increase compared to 2024. Conversely, non-cloud infrastructure spending is expected to decline by 4.9% to $68.1 billion.

A key driver of this surge is the growing demand for AI-driven GPU infrastructure , which alone is forecasted to grow by 46.8% year-over-year , reaching $157.8 billion in 2025. IDC notes that the shared cloud infrastructure segment will dominate this growth, with spending projected to hit $213.7 billion , an increase of 25.7% over the previous year. Additionally, dedicated cloud infrastructure is expected to grow sharply?€” 71.8% year-over-year ?€”reaching $57.8 billion .

This significant shift underscores a broader trend where shared cloud infrastructure spending is set to outpace all non-cloud infrastructure investments , driven by enterprises scaling up cloud- native workloads and AI infrastructure at unprecedented levels.

This growth is largely driven by the rising demand for AI and digital transformation initiatives, which are pushing enterprises to invest more in cloud technologies.

According to recent reports by IDC and DataCenter Dynamics , enterprises are undergoing a significant shift in infrastructure and digital strategy, placing greater emphasis on cloud, AI, and data governance to drive competitiveness and agility.

Non-Cloud Infrastructure: While the broader market is pivoting to cloud-first models, non-cloud infrastructure spending is still expected to grow modestly by 8.4% in 2025 , reaching $64.8 billion . This slower pace of growth highlights the continuing shift away from legacy, on-premise systems toward more scalable, flexible cloud-based solutions (IDC).

Data Governance: As cloud adoption and AI integration expand, data governance has emerged as a critical priority. Enterprises are ramping up investments in compliance, data privacy, and risk management tools to meet evolving regulatory standards and protect sensitive information

across hybrid environments. Governance frameworks are now essential to scaling digital operations responsibly.

Enterprise Receivables Management: Digital transformation in finance continues to gain momentum. Organizations are increasingly adopting AI-driven, automated receivables management solutions to enhance cash flow visibility, reduce manual processing errors, and improve collection efficiency. These intelligent systems are reshaping how enterprises manage and optimize working capital.

Digital Assistants: Advancements in AI and natural language processing are fueling the widespread adoption of digital assistants across enterprise functions. From customer service to internal operations, these tools are improving engagement, accelerating decision-making, and driving productivity gains. Their integration into core systems is expected to deepen in the years ahead.

The overall investment landscape underscores a clear enterprise focus on cloud infrastructure,

AI-driven automation, and governance . With digital maturity becoming a competitive differentiator, organizations are prioritizing technologies that support agility, innovation, and compliance in an increasingly data-intensive economy.

Economy Overview:

According to the International Monetary Funds (IMF) World Economic Outlook Update for 2025, the global economy will experience a slowdown, with growth projected to be modest and uneven.

Global growth is projected at 3.3 percent both in 2025 and 2026, below the historical (2000?€“19) average of 3.7 percent. The forecast for 2025 is broadly unchanged from that in the October 2024 World Economic Outlook (WEO), primarily on account of an upward revision in the United States offsetting downward revisions in other major economies. Global headline inflation is expected to decline to 4.2 percent in 2025 and to 3.5 percent

in 2026, converging back to target earlier in advanced economies than in emerging market and developing economies.

Medium-term risks to the baseline are tilted to the downside, while the near-term outlook is characterized by divergent risks. Upside risks could lift already-robust growth in the United States in the short run, whereas risks in other countries are on the downside amid elevated policy uncertainty. Policy-generated disruptions to the ongoing disinflation process could interrupt the pivot to easing monetary policy, with implications for fiscal sustainability and financial stability.

Managing these risks requires a keen policy focus on balancing trade-offs between inflation and real activity, rebuilding buffers, and lifting medium-term growth prospects through stepped-up structural reforms as well as stronger multilateral rules and cooperation.

Additionally, the OECD projects global GDP growth to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026. This slowdown is expected to be most pronounced in the United States, Canada, Mexico, and China.

The OECDs latest Economic Outlook indicates that the global economy is facing headwinds, including trade barriers, tighter financial conditions, and increased policy uncertainty, which are expected to dampen growth. While some economies like the Euro area are expected to see a modest increase in growth, the overall global trend is one of moderation.

Global Per Capita Income Trends: 2025 Outlook

Based on the World Banks Global Economic Prospects ?€“ June 2025 Update

The World Banks 2025 Global Economic Prospects report offers critical insights into income trends across regions, underscoring the uneven pace of recovery and persistent structural challenges in many parts of the world.

Emerging and Developing Economies (EMDEs)

Per capita income in EMDEs is projected to grow by an average of 3% annually from 2025 to 2027 , a notable improvement from pandemic lows, but still well below the pre-COVID average of around 3.8% . The report emphasizes that many developing countries are still grappling with the aftermath of the pandemic, high debt burdens, and inflation shocks. In fact, nearly 40% of low-income economies are projected to remain below their 2019 per capita income levels through 2025 ( World Bank, 2025 ).

United States

The U.S. economy is forecasted to expand more slowly over the next two years, with real per capita income growth remaining modest due to elevated interest rates and lingering inflation pressures. The World Bank anticipates that these conditions will continue to restrain consumer spending and investment, dampening the overall growth outlook for the mid-2020s.

China

Chinas economic trajectory is also expected to soften, with per capita income growth slowing to around 4.5% annually through 2026 . Structural challenges, including weak domestic demand, an aging population, and increasing trade restrictions, are contributing to this deceleration. Geopolitical tensions and a sluggish property market add further headwinds ( World Bank, 2025 ).

Eurozone

The Eurozone is facing similar macroeconomic challenges. Per capita income growth across the region is forecasted to remain subdued , averaging under 2% over the medium term. Ongoing geopolitical uncertainty , particularly due to the war in Ukraine and tensions at Europes eastern borders, combined with inflation and energy-related vulnerabilities, continue to cloud the outlook.

Asia (Excluding China)

South and Southeast Asia are projected to remain among the fastest-growing regions globally, although the pace of growth is expected to moderate compared to earlier post-pandemic years. Countries like India, Indonesia, and Vietnam are likely to continue showing resilience, supported by robust domestic demand and service exports.

Australia, New Zealand, and Oceania

The Oceania region is anticipated to see more stable income growth relative to other advanced economies. While global economic uncertainty and climate-related risks remain concerns, Australia and New Zealand benefit from strong fiscal frameworks and diversified trade relationships, which are expected to support moderate per capita income gains over the next two years.

As 2025 unfolds, global income disparities remain a significant concern. While some economies are regaining momentum, others, particularly fragile or conflict-affected states, continue to lag behind. A combination of sound policy, debt management, and investment in productivity-enhancing sectors will be crucial for narrowing the income gap in the coming years.

Source: World Bank Global Economic Prospects ?€“ June 2025

IT Industry Outlook:

Gartner projects worldwide IT spending to reach $5.61 trillion in 2025, a 9.8% increase from 2024. While overall spending is up, a significant portion will be absorbed by price increases in recurring spending, particularly due to inflation. Generative AI (GenAI) is a key driver of growth, especially in infrastructure and software, but its impact on functionality is still evolving.

Deloittes 2025 Technology Outlook reveals how AI is becoming a central force in reshaping the tech landscape. From enhancing core IT functions to enabling the rise of agentic AI?€”intelligent software agents that perform tasks autonomously?€”enterprises are leveraging AI to boost efficiency and innovation. By the end of 2025, 25% of organizations using Generative AI are expected to deploy such agents. Meanwhile, the growing adoption of GenAI is transforming business processes, though it also raises concerns around data privacy, bias, and trust, which companies must navigate carefully.

In parallel, the tech industry faces an increasingly complex risk and sustainability environment. Cybersecurity, geopolitical tensions, and climate concerns are reshaping priorities, with firms adopting AI-driven threat detection and Zero Trust architectures. Hardware innovation is accelerating to meet AI demands, including advancements in semiconductors, IoT, robotics, and spatial computing.

Additionally, supply chain diversification and a push toward energy-efficient technologies signal a shift toward more resilient and responsible growth across the global tech ecosystem.

Our competitive advantages encompass the following:

Commitment to superior quality and process execution

Strong brand and long standing client relationships

Ability to scale

Innovation and leadership

The increased confidence exhibited by business leaders in their companies performance and the enhanced optimism of consumers have propelled technology spending. Investment in technology remains a focal point for companies worldwide. Our interactions with global business leaders underscore the pivotal role of technology in making the most significant impact on their enterprises.

A growing acknowledgment that digital technologies will reshape business models, processes, introduce new products and services, facilitate access to untapped markets, broaden customer bases, and unearth entirely new opportunities is a prevalent theme cutting across diverse industries and markets.

Adoption of Generative AI in Enterprises

Gartner predicts a significant surge in generative AI adoption within enterprises. By 2026, Gartner says over 80% of enterprises are expected to be utilizing generative AI APIs, models, or deployed applications in production, a substantial increase from less than 5% in 2023.

Furthermore, Gartner anticipates that by 2028, 80% of GenAI business applications will be developed on existing data management platforms, streamlining development and reducing complexity

Cloud Transition

Gartner predicts that in 2025, global public cloud spending will reach $723 billion, a 21.5% increase from 2024. This growth is fueled by the increasing adoption of AI and more complex workloads, with cloud-native approaches like microservices, containers, and Kubernetes becoming the foundation for modern applications.

By 2025, Gartner anticipates that over 95% of new digital workloads will be deployed on cloud-native platforms.

By 2025, over half of enterprise IT spending in major categories will shift to public cloud solutions, with application software seeing cloud-based spending rise to nearly 66%. Additionally, 90% of organizations are expected to adopt hybrid cloud models by 2027, supported by cross-cloud frameworks that enable distributed, multi-cloud, and hybrid deployments.

While Mordor Intelligence projects the global cloud computing market to reach USD 2.26 trillion by 2030, with a compound annual growth rate (CAGR) of 21.20%. This growth is fueled by factors such as the increasing

adoption of AI-driven digital transformation strategies, the migration of core applications to SaaS platforms, and the expansion of sovereign cloud requirements, particularly in Europe and the Gulf region.

The rise of edge computing, with sub-10 millisecond latency zones, is also contributing to the markets expansion, supporting use cases like extended reality (XR) and autonomous operations.

Explosive SaaS Adoption in Core Enterprise Software

Enterprises are increasingly migrating mission-critical applications?€”like ERP, CRM, and finance systems?€”to the cloud, moving beyond just productivity workloads. SaaS platforms offer continuous updates and embedded compliance features, making them particularly valuable in regulated industries.

Organizations that delay migration risk falling behind in agility and innovation.

Proliferation of Gen-AI Workloads Demanding Elastic Compute

Generative AI is driving a massive need for elastic compute, with model training requiring thousands of high- performance GPUs. Data centers are being re-architected for AI, with liquid cooling, specialized silicon, and high-speed networking, to meet the power and performance demands of AI experimentation and deployment. Vendors that can ensure scalable, cost-effective capacity are becoming increasingly preferred.

Industry-Specific Cloud Platforms (Compliance-Ready Blueprints)

Vertical cloud platforms are emerging as strategic enablers by combining cloud infrastructure with pre-built compliance and industry logic. Financial and public-sector versions incorporate tailored regulatory modules like fraud detection and FedRAMP. These industry-specific clouds reduce customization time, accelerate implementation, and create strong customer stickiness due to embedded best practices.

Source:

Data Governance Market

The global data governance market size was valued at USD 4.44 billion in 2024. The market is projected to grow from USD 5.38 billion in 2025 to USD 18.07 billion by 2032, exhibiting a CAGR of 18.9% during the forecast period. North America dominated the global market with a share of 44.37% in 2024.

Source:

Data governance encompasses a framework of policies, procedures, standards, and metrics that guide organizations in managing and utilizing data effectively to support business objectives. It ensures data accuracy, streamlines operational costs, enhances service delivery, and helps organizations adhere to legal, regulatory, and industry-specific requirements. When integrated with data cataloging tools, data governance enables enterprises to discover, manage, analyze, and share data efficiently, playing a vital role in advancing artificial intelligence (AI) initiatives. As a result, organizations globally are turning to data governance to improve operational efficiency, drive informed decision-making, lower production expenses, and gain insights into consumer behavior trends.

With the rapid pace of digital transformation, businesses are accumulating a vast array of data sources and assets. This surge in data complexity has led to increased adoption of data governance to ensure proper data management and accessibility across departments. At the same time, evolving regulatory landscapes are pushing organizations to establish robust governance practices to reduce compliance risks and stay ahead of emerging regulations. Within the banking, financial services, and insurance (BFSI) industry, data governance enhances operational efficiency, resolves internal data-related issues, and mitigates the risk of security breaches.

The rising demand for online banking and digital financial services has further propelled the need for strong data governance in BFSI. Similarly, in the healthcare sector, data governance supports the management of critical medical information, from treatments and payments to research and outcomes. It also plays a key role in reducing healthcare costs and boosting patient care quality. As hospitals and healthcare providers prioritize data accuracy and regulatory compliance, the global demand for comprehensive data governance solutions continues to grow.

Digital Financial Transformations

The pace of digital innovation in the financial sector continues to accelerate in 2025, with fintechs playing a pivotal role in redefining industry standards. Startups and tech-driven disruptors are pushing the boundaries of financial services, prompting established institutions to rethink traditional models. Digital transformation is now a boardroom priority as financial organizations seek to remain agile and competitive in an increasingly tech-first world.

Some institutions are inherently more equipped for this shift, while others must actively track emerging trends, upskill their teams, and modernize outdated systems. Staying ahead requires a proactive approach?€”adapting to evolving customer expectations, regulatory changes, and market dynamics with speed and precision.

The 2025 financial landscape is being reshaped by a new generation of technologies. Alongside embedded finance, open banking, and decentralized finance (DeFi), financial institutions are now embracing real-time payment infrastructure, AI-powered fraud detection, blockchain-based settlements, and tokenized assets. Generative AI is powering intelligent advisory services and automating complex financial modeling.

Meanwhile, ESG-aligned finance platforms and digital identity verification solutions are gaining traction as institutions prioritize transparency, sustainability, and secure user experiences. These advancements are not just enhancing operational efficiency, theyre fundamentally transforming how finance is accessed, delivered, and trusted.

Threats

Financial Threats:

Financial Currency rate fluctuation: Our exchange rate threat primarily arises from our foreign currency revenues and receivables. The Company derives its revenue from foreign countries around the world. While a large portion of our expenses are in Indian Rupees, at the same time, the operating profit is subject to rate fluctuations. The exchange rate between the Indian Rupee and the US Dollar has been

changing substantially and the Company faces the risks associated with rate fluctuations translation effect.

Credit Risks: The business of the Company involves extending credit to international customers. This has the inherent risk of delayed payments and defaults. The Companys credit policy addresses this risk.

Liquidity: The major cost components of any export oriented software industry are personnel, travelling and marketing costs. Apart from this, capital expenditure to upgrade technology is another regular feature of the cash flow.

Human Resource Management

The human resource philosophy and strategy of your Company has been designed to attract and retain the best talent, creating workplace environment that keeps employees engaged, motivated and encourages innovation. This talent has, through strong alignment with your Companys vision, successfully built and sustained your Companys standing as one of Indias most admired and valuable corporations despite unrelenting competitive pressures. Your Company has fostered a culture that rewards continuous learning, collaboration and development, making it future ready with respect to the challenges posed by ever-changing market realities as also technologies. Employees are your Companys most valuable assets and your Companys processes are designed to empower employees and support creative approaches in order to create enduring value. Your Companys unflagging commitment to investing in talent development ensures performance and achievement of the highest order.

Internal Control System

Internal controls and checks are indispensable to achieve higher productivity and hence increase profitability. Major focus is imparted to achieve operational efficiency in the Company through adherence to defined procedures and policies, to achieve targets.

The internal controls cover operations, financial reporting, compliance with applicable laws and regulations, safeguarding assets from unauthorized use and ensure compliance of corporate policies.

The Company has appointed internal auditors to check on the validity and correctness of internal reporting, which would in turn validate financial reporting. TechNVision has always been on a look out for implementing best practices of Corporate Governance. The Internal Control systems at TechNVision consist of a set of Rules, procedures & organizational structures which aim to:

ensure implementation of corporate strategy,

ensure reliability and integrity of accounting and management data,

ensure process compliance,

achieve effective and efficient corporate processes,

safeguard value of corporate assets,

Statutory Compliance

The Company has a Compliance Officer to advise the Company on compliance issues with respect to the laws of various jurisdictions in which the Company has its business activities and to ensure that the Company is not in violation of the laws of any jurisdiction where the Company has operations. The Compliance Officer, who is also the Company Secretary, reports from time to time on the compliance or otherwise of the laws of various jurisdictions to the Board of Directors.

Generally, the Company takes appropriate business decisions after ascertaining from the Compliance Officer and, if necessary, from independent legal counsels, that the business operation of the Company is not in contravention of any law in the jurisdiction in which it is undertaken. Legal compliance issues are an important factor in assessing all new business proposals.

Risks and Concerns

The risk management process is continuously improved and adapted to the changing global risk scenario. The agility of the risk management process is monitored and reviewed for Appropriateness with the changing risk landscape. The process of continuous evaluation of risks includes taking stock of the risk landscape on an event-driven as well as periodical basis. The risk categories covered under the risk management program includes strategic, operational and financial as well as compliance-related risks across various levels of the organization.

This includes risk assessment and mitigation at the Company level, business / functional unit level, relationship level and project level. Some of the key strategic risks the Company faces, their impact and corresponding risk mitigation actions undertaken by the Company are discussed in the table:

We are subject to Government and regulatory activity

That affects how we design and market our products. Regulatory actions may at times hinder our ability to provide the benefits of our software to consumers and businesses, thereby reducing the attractiveness of our products and the revenues that come from them. The outcome of such actions, or steps taken to avoid them, could adversely affect us in a variety of ways, including:

We may have to choose between withdrawing products from certain geographies to avoid fines or designing and developing alternative versions of those products to comply with government rulings, which may entail a delay in a product release and removing functionality that customers want or on which developers rely.

The rulings described above may be cited as a precedent in other competition law proceedings.

We face intense competition

The entry of large players will result in fierce competition and raising the bar for eligibility. This will impact the business of the Company.

In response to competition, we rely on the following to compete effectively:

a successful service delivery model;

a well-developed recruiting, training and retention model;

a broad referral base;

continuing investments in process improvement and knowledge capture;

Our business depends on our ability to attract and retain talented employees.

Our business is based on successfully attracting and retaining talented employees. The market for highly skilled workers and leaders in our industry is extremely competitive. Post-recession, the attrition rate in the IT industry has risen again and is one of the major challenges being faced by the industry. As the industry is on the path of recovery from the economic downturn, lateral hiring has reached its peak which in turn has resulted in widespread attrition.

If we are less successful in our recruiting efforts, or if we are unable to retain key employees, our ability to develop and deliver successful products and services may be adversely affected. Effective succession planning is also important to our long-term success. Failure to ensure effective transfer of knowledge and smooth transitions involving key employees could hinder our strategic planning and execution.

The Company is constantly exposed to the risk of exchange rate fluctuations.

With operations spanning world-wide and revenues earned in major currencies of the world, a majority of Companys expenses are incurred in Indian Rupees. This exposes the Company to a constant risk of foreign exchange fluctuation, adverse fluctuations of exchange rate poses a threat to the profitability of the business.

Fluctuations in foreign currency exchange rates can have a number of adverse effects on us. Changes in the value of the Indian Rupee against other major currencies will affect our revenues and thereby our profit margins as well.

Service Model Redundancy

Newer models which change the manner of consumption of IT services could result in demand compression / pricing pressure on the existing model.

The Company is continually scanning the market environment and communicating with clients to identify emerging market trends at a nascent stage and come out with innovative service delivery model.

Reputational Threat

Reputation is built continuously in a timely and quality delivery with integrity. Any damage to this reputation and image of TechNVision could lead to decrease in market share.

The Company is focusing on quality and processes, and has developed efficient service models to mitigate this risk. Strict adherence to Companys Quality Management System, Code of Conduct and Corporate Governance framework have helped Company evolve as one of the best Company in the market.

Regulatory non-compliance

Many laws apply to TechNVision and its Group of Companies. Any failure to comply with any of the relevant regulations could result in financial penalties and reputational damage.

The company is assuming consultation of local managers as well as Auditors, Company Secretary, consultants, lawyers, specialists and experts for effective and efficient regulatory compliance. TechNVision is also implementing a security policy that complies with information security and data privacy laws, backed by rigorous processes and a robust infrastructure, which assures physical and virtual security.

Analysis of our Financial Statements

Accounting Policy

The Companys financial statements are abided by the general accepted accounting principles and the Accounting Standards as per Section 133 of the Companies Act, 2013. The financial statements were prepared under the historical cost convention basis and disclosures were made in accordance with the revised Schedule III to the Companies Act, 2013 and the Indian Accounting Standards. The Company has followed the mercantile system and recognized income and expenditure on an accrual basis.

The Company has made all relevant provisions as were applicable as on 31 March, 2025.

Over the years, TechNVision has built itself into an organization that not only partners with its customers, but also provides value addition, through a repertoire of innovative solutions and superior quality of services. Today, TechNVision has risen to eminence, as a leading company in the IT / ITES space in the globe.

Financial Performance

TechNVision is a public Company listed on "The Bombay Stock Exchange Limited (BSE)". The financial statements of TechNVision are prepared in compliance with the Companies Act, 2013 (to the extent notified) and generally accepted accounting principles in India (Indian GAAP). TechNVision has two subsidiary companies along with their subsidiary companies (including step down subsidiary companies). TechNVision publishes audited standalone and consolidated financial results on annual basis as well as quarterly basis.

The Standalone Financial Results of TechNVision as per Ind AS are discussed hereunder:

( ?‚? in Lakhs)

PARTICULARS	FINANCIAL YEAR
	2024-2025	2023-2024
Total Income	2,082.51	1,577.55
Operating Profit (PBIDT)	354.99	285.14
Profit Before Tax	132.25	78.50
Profit After Tax	98.00	57.05
Earnings Per Share ( \u20b9 )	1.56	0.91

Segment Result

( ?‚? in Lakhs)

PARTICULARS	YEAR ENDED
	2024-2025	2023-2024
1. REVENUE
Overseas	1,952.53	1510.30
Domestic	9.73	9.35
TOTAL	1,962.26	1,519.65
2. SEGMENT RESULTS
Profit / (Loss) before tax and interest from each Segment
Overseas	495.20	450.71
Domestic	0.83	0.79
TOTAL	496.02	450.50

LESS
(i) Interest	189.12	153.30
(ii) Other Un-allocable expenditure net off	294.90	277.63
(iii) Un-allocable income	120.25	57.90
TOTAL PROFIT BEFORE TAX	132.25	78.50

Revenue & Expenditure

The total revenues earned by the Company has increased by 32.00% over last year, from ?‚? 1,577.55 Lakhs to

?‚? 2,082.50 Lakhs in FY 2024-25. The total Operating Costs have increased by 30.01%, from last years

?‚? 1,499.06 Lakhs to ?‚? 1,950.25 Lakhs this year due to increase in cost of sales and administrative expenses. Operating cost as a proportion of Total Income has marginally decreased from 95.02% to 93.65%. With the increased level of revenues, the EBITDA has increased to ?‚? 360.00 Lakhs in FY 2024-25 as against

?‚? 285.15.75 Lakhs in the FY 2023-24. The Company has registered PBT of ?‚? 132.25 Lakhs as compared to

?‚? 78.50 Lakhs last year.

Balance Sheet Analysis

Capital employed

The capital employed is increased by ?‚? 0.98 Crore from ?‚? 15.96 Crores as of 31 March 2024 to ?‚? 16.94 Crores as of 31 March 2025. We have ensured judicious use of every rupee invested in the business.

Equity capital

During the year 2024-25, the Company has not issued any equity shares or convertible warrants.

Reserves and surplus

Free reserves of TechNVision stood at ?‚? 10.66 Crores as on 31 March 2025 which is higher than the free reserves of ?‚? 9.68 Crores as on 31 March 2024. The increase reflects internal accruals to the tune of ?‚? 0.58 Crore.

External debt

The company has outstanding external debt of ?‚? 14.45 Crores as on 31 March, 2025.

Fixed assets

During the year, the company has invested ?‚? 95.27 Lakhs in fixed assets.

Trade Receivables

Trade Receivables amounted to ?‚? 0.17 Crores as at 31 March, 2025 compared to ?‚? 2.01 Crores as at 31 March, 2024. These debts are considered good and realizable

Cash and Cash Equivalent

The bank balances include both rupees accounts and foreign currency accounts.

Current liabilities and provisions

The position of current liabilities is ?‚? 12.96 Crore as on 31 March, 2025 as against the last year Amount of ?‚? 11.48 Crore as at 31 March, 2024.

Revenue analysis

The Companys revenue (net sales) stood at ?‚? 20.82 Crores in 2024-25 as against ?‚? 15.77 Crores in last year.

Margins

There was a divergence between the EBIDTA and PAT margins for the year under review.

EBITDA margin stood at 17.29% in 2024-25 compared with 18.07% in last year.

PAT margin stood at 4.70% in 2024-25 compared with 3.62% in last year.

Taxation

The Companys corporate tax burden is Increased from ?‚? 21.44 Lakhs in last year to ?‚? 34.25 Lakhs this year.

Our end-to-end solutions

We compliment our industry expertise with specialized support for our clients. We also leverage the expertise of our various Center of Excellence and our software engineering group and technology lab to create customized solutions for our clients through our network of partners. In addition, we continually evaluate and train our professionals in new technologies and methodologies. Finally, we ensure the integrity of our service delivery by utilizing a scalable and secure infrastructure. Expanding partner network enabling us to reach out to newer geographies resulting in broader client base.

Forward Looking Statements

This report contains forward looking statements, which may be identified by their use of words like plans, expects, will, anticipates, believes, intends, projects, estimates or other words of similar meaning. All statements that address expectations or projections about the future, including but not limited to statements about the Companys strategy for growth, product development, market position, expenditures and financial results, are forward looking statements. Forward Looking statements are based on certain assumptions and expectation of future events. The Company cannot guarantee that these assumption and expectations are accurate or will be realized. The Companys actual results, performance or achievements could thus differ materially from those projected in any such forward looking statements. The Company assumes

no responsibility to publicly amend, modify or revise any forward looking statements on the basis of any subsequent developments, information or events.

DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL WITH THE COMPANYS CODE OF CONDUCT

CIN: L51900TG1980PLC054066

This is to confirm that the Company has adopted a Code of Conduct for its employees including the Managing Director and Executive Directors. In addition, the Company has adopted a Code of Conduct for its Non- Executive Directors and Independent Directors. These Codes are available on the Companys website.

I confirm that the Company has in respect of the year ended on 31 March, 2025, received from the Senior Management Team of the Company and the Members of the Board a declaration of compliance with the Code of Conduct as applicable to them.

For the purpose of this declaration, Senior Management Team means the Chief Financial Officer, employees in the Executive Vice President cadre and the Company Secretary as on 31 March, 2025.

sd/-

Place: Secunderabad Veena Gundavelli

Date: September 04, 2025 Managing Director

DIN: 00197010