MANAGEMENT DISCUSSION AND ANALYSIS INDUSTRY STRUCTURE AND DEVELOPMENT: The Company is engaged only in trading activities. SEGMENTWISE PERFORMANCE: The Company operates in a single segment, viz. trading activities. BUSINESS OUTLOOK: This has been dealt with in the Directors' Report. RISKS AND CONCERNS: This has been dealt with in the Directors' Report. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY: This has been dealt with in the Directors' Report. FINANCIAL AND OPERATIONAL PERFORMANCE: This has been dealt with in the Directors' Report. HUMAN RESOURCES DEVELOPMENT: The relationship with the employees continued to be cordial throughout the year. DISCLOSURE OF ACCOUNTING TREATMENT: This has been dealt with in the Directors' Report. CAUTIONARY STATEMENT: Certain statements in this section relating to estimates, projections and expectations may be forward looking within the meaning of applicable laws and regulations. The actual results could differ materially from what the directors envisage in terms of the future performance and outlook. The factors that may affect the performance of the company will be drought or shortfall in rains, change in government policies, tariff barriers, delay in registrations, changes in local and overseas markets and the related factors. |