Ventura Guaranty Ltd Management Discussions

INDUSTRY STRUCTURE AND DEVELOPMENT

During the Financial Year 2025-26, the Indian economy continued to demonstrate resilience despite an uncertain global economic environment. Economic growth remained supported by robust domestic consumption, sustained public capital expenditure, improving infrastructure and stable macroeconomic fundamentals. However, the global economy continued to witness challenges arising from geopolitical conflicts, trade policy uncertainties, volatility in commodity prices, fluctuations in financial markets and evolving monetary policy across major economies. Notwithstanding these headwinds, India remained among the fastest- growing major economies, supported by prudent fiscal and monetary policies and a resilient financial system.

The financial services sector continued to play a significant role in supporting economic growth and financial inclusion. The Reserve Bank of India continued to strengthen the regulatory framework for Non-Banking Financial Companies (NBFCs) by focusing on governance standards, risk management, operational resilience, customer protection and technology adoption. These initiatives are expected to enhance the stability and long-term sustainability of the NBFC sector.

India’s growing economy, increasing financial inclusion, digitalisation and continued regulatory reforms present long-term opportunities for the financial services sector. At the same time, geopolitical developments, global trade uncertainties, interest rate movements, inflationary pressures, market volatility and changes in the regulatory landscape may continue to influence the operating environment.

The Company operates as an Investment Company and its business activities are largely carried out through its subsidiary companies. During the year under review, no separate segmental reporting is required as the operations of the Company fall within a single segment.

The Company being an Investment Company, primarily derives its business through its subsidiary companies. During the year under review, no significant standalone business activities were undertaken by the Company. The management continues to evaluate potential opportunities in line with its investment objectives, while the operating performance is largely driven through its subsidiaries.

The Company is exposed to risks arising from changes in macroeconomic conditions, financial market movements and the regulatory environment. The Board of Directors periodically reviews the Company’s risk profile and ensures that appropriate internal controls and risk mitigation measures are in place to safeguard the interests of the Company and its stakeholders.

The Company has an adequate internal control framework commensurate with the size, nature and complexity of its operations. The internal control systems are designed to safeguard the Company’s assets, ensure the accuracy and reliability of financial reporting, promote operational efficiency and ensure compliance with applicable laws and regulations. The adequacy and effectiveness of these controls are reviewed periodically.

The total revenue from the operations for the year ended March 31, 2026 amounts to 1,122.76 Lakhs as against 237.66 Lakhs in the previous financial year. The Company is taking efforts to reduce consumption, energy cost and wastage and get higher yield to achieve maximum profits.

During the year under review, there were no significant developments on the Human Resource or Industrial Relations front. The Company continues to place emphasis on human capital as an important resource for its long-term growth. The focus remains on maintaining a supportive work environment, attracting suitable talent, and retaining the existing talent pool. The Company acknowledges the contribution and commitment of its employees.

The key financial ratios and details of significant changes in these ratios, to the extent applicable, as required by the SEBI Listing Regulations are given below:

The return on net worth for FY 2025-26 is 19.55% as against 12.05 in the previous year.

Statements in this Management Discussion and Analysis describing the Company’s objectives, projections, estimates and expectations may be forward looking’ within the meaning of applicable laws and regulations. Actual results may differ from those expressed or implied. Investors are advised to exercise due care and caution while interpreting these statements