Yunik Managing Advisors Ltd Management Discussions

1. INDUSTRY STRUCTURE AND DEVELOPMENTS:

Yunik Managing Advisors Limited ("the Company"), is focused on consultancy and management advisory activities. The Company operates in a competitive consultancy and advisory environment where business opportunities are dependent upon the ability to identify suitable clients, develop long-term relationships and provide value-added professional services.

During the financial year 2025-26, the Company did not record any revenue from operations or other income. The Company continues to evaluate opportunities for developing its business and improving its revenue-generating capacity.

The Company will continue to assess opportunities for generating sustainable business and will focus on strengthening its business model, client relationships and operational capabilities.

2. BUSINESS PERFORMANCE AND STATE OF AFFAIRS:

During the financial year ended March 31, 2026, the Company did not generate any revenue from operations or other income. Total expenses during the year amounted to 25.44 lakh, resulting in a loss after tax of 25.44 lakh, as compared with a loss of 8.62 lakh in the previous financial year.

The financial performance over the recent years is summarised below:

3. FINANCIAL POSITION:

As at March 31, 2026, the Companys total assets stood at 66.64 lakh, compared with 66.54 lakh as at March 31, 2025.

The paid-up equity share capital remained unchanged at 14.2878 crore, comprising 1,42,87,754 equity shares of 10 each. The reduction in other equity during FY 2025-26 primarily reflects the loss incurred during the year.

4. BUSINESS OUTLOOK AND PROPOSED CORPORATE ACTIONS:

The Company has historically experienced limited business activity. In FY 2024-25, the Board had noted that, despite continued efforts, the Company had not achieved the desired level of business activity and was evaluating strategic measures to realign its operations and improve its business prospects.

The Board had also considered shifting the Registered Office from Chennai to Mumbai, a possible capital reduction scheme and potential raising of fresh equity capital, subject to the necessary approvals and feasibility.

During FY 2025-26, the Company continued to remain in a phase of business transition and evaluation. Going forward, the Board and management will continue to evaluate appropriate strategic and corporate measures to improve the Companys financial position and create opportunities for commencement or expansion of business activities.

5. SEGMENT-WISE PERFORMANCE:

The Company did not carry on any other business operations during the year under review. Accordingly, there were no separate reportable business segments requiring disclosure.

6. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has adequate internal financial controls commensurate with its size and nature of business.

The statutory auditors, in their report for FY 2025-26, have stated that the Company had, in all material respects, adequate internal financial controls over financial reporting and that such controls were operating effectively as at March 31, 2026.

The Company continues to maintain appropriate accounting and financial reporting procedures and controls designed to safeguard its assets, ensure accuracy and completeness of accounting records and support reliable financial reporting.

The Companys financial statements have been prepared in accordance with the applicable provisions of the Companies Act, 2013 and Indian Accounting Standards ("Ind AS").

7. RISK MANAGEMENT:

The Company is exposed to risks arising from its limited business activity, including business risk, liquidity risk, credit risk, regulatory/compliance risk and general economic risk.

Business Risk: The Companys principal business risk continues to be the limited scale of revenue-generating activities. During FY 2025-26, the Company did not generate any operating revenue. The management is therefore evaluating opportunities for increasing business activity and establishing a sustainable revenue base.

Liquidity Risk: Liquidity management remains important given the Companys current level of operations and recurring expenditure. The Company monitors its cash position and financial obligations on an ongoing basis.

Credit Risk: The Company seeks to manage credit risk through appropriate evaluation and monitoring of counterparties and receivables, wherever applicable. The Company had no trade receivables as at March 31, 2026.

Regulatory and Compliance Risk: As a listed company, the Company remains subject to applicable requirements of the Companies Act, SEBI regulations, stock exchange requirements and other applicable laws and regulations. The management continues to monitor compliance requirements and take appropriate steps to ensure timely compliance.

8. CASH FLOW AND FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

The Companys cash and cash equivalents increased marginally from 2.33 lakh as at March 31, 2025 to 2.43 lakh as at March 31, 2026.

The Companys cash flow from operating activities remained broadly constrained by the absence of revenue-generating operations. The management continues to monitor cash flows closely and will seek to maintain adequate liquidity to meet its obligations.

Financial Performance Summary

Particulars	FY 2025-26	FY 2024-25	FY 2023-24
Revenue from Operations (? lakh)	Nil	7.50	5.00
Other Income (? lakh)	Nil	3.85	0.02
Total Income (? lakh)	Nil	11.35	5.02
Total Expenses (? lakh)	25.44	19.97	37.66
Profit/(Loss) before Tax (? lakh)	(25.44)	(8.62)	(32.64)
Profit/(Loss) after Tax (? lakh)	(25.44)	(8.62)	(32.57)
EPS – Basic & Diluted (?)	(0.18)	(0.06)	(0.23)

The significant financial ratios for FY 2025-26 compared with FY 2024-25 are as follows:

Financial Ratios

Ratio	FY 2025-26	FY 2024-25	Reason for Change
Current Ratio	0.93	1.70	Increase in current liabilities
Return on Equity	-110.8%	-21.6%	Higher loss during the year
Trade Payables Turnover Ratio	4.93	3.69	Increase in expenses
Net Capital Turnover Ratio	N.A.	0.43	No revenue during FY 2025-26
Net Profit Ratio	N.A.	-75.98%	No revenue during FY 2025-26
Return on Capital Employed	-38.2%	-13.0%	Decrease in revenue

9. HUMAN RESOURCES:

The Company recognises the importance of competent human resources for the development of its consultancy and advisory activities. Given the current scale of operations, the Company maintains a lean organisational structure and will evaluate additional human resource requirements commensurate with the expansion of business activities.

10. MATERIAL DEVELOPMENTS DURING THE YEAR:

During FY 2025-26, the Company remained focused on evaluating strategic alternatives for strengthening its business and financial position.

The audited financial statements indicate that the Company does not have property, plant and equipment, inventory or borrowings from banks or financial institutions. The statutory auditor also reported that no fraud by the Company or on the Company had been noticed or reported during the course of the audit.

11. FUTURE OUTLOOK:

The Companys performance in FY 2025-26 reflects the challenges associated with operating without a regular revenue stream. The Board is conscious of the need to restore sustainable business activity and improve the Companys financial performance.

The Company intends to:

identify and pursue suitable consultancy and management advisory opportunities; expand its client base and business relationships; evaluate strategic and corporate restructuring opportunities; maintain prudent cost management; strengthen its financial position; evaluate the requirement and feasibility of additional capital, where appropriate; and explore opportunities for commencing sustainable and profitable business activities.

The Company will continue to assess market conditions and available opportunities and will take appropriate steps in the best interests of the Company and its stakeholders.

12. CAUTIONARY STATEMENT:

Statements in this Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectations or future plans may constitute forward-looking statements within the meaning of applicable securities laws and regulations.

These statements are based on certain assumptions and expectations of future events and are subject to risks and uncertainties. Actual results could differ materially from those expressed or implied due to various factors, including changes in economic conditions, market conditions, regulatory requirements, business opportunities, costs and other circumstances beyond the control of the Company.

The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors and stakeholders are advised not to place undue reliance on such forward-looking statements.