ashram onlinecom ltd Management discussions

Industry Structure and Development

Your Company is focused on bringing Rich Traditional, vedic and cultural aspects of Hinduism by incorporating ancient wisdom into modern technology to improve our customers livelihood which includes wide range of Homam, Puja, Pariharam and

Samskaram services in the areas of Wealth, Health, Career, Education, Love-affection-marriage, Finance and a host of remedial services. The noble vision of your company is to transform the lives of all by following Vedic & Traditional methods for modern times and deep commitment to serve humanity with a remarkable foresight. Global economic recession has affected growth in the economic activity in various sectors of the economy and accordingly has compelled company to survive alongside the dwindling economic activity, barring unforeseen circumstances; the company would be able to achieve its financial objectives without much of constraints.

Opportunities, Threats, Risks and Concerns

There exists abundant opportunities for growth. However, slowdown of market activity and cut throat competitions coupled with changes in the policies of the government are these areas of concern. However with the experience and expertise of the management, the company would withstand competition and convert threats in to opportunities.

Segment wise / Product wise Performance

The Company has currently only one segment financial sector in line with the Accounting Standard on Segment Reporting (AS-17).

Outlook

India is among one of the most observed emerging markets. Implementation of policies and reforms by the Government would help sector grow at faster phase.

Financial Performance

We are confident and look forward, that in the financial year 2022-2023, the global pandemic situation shall cease slowdown, and we should be able to again see a healthy revival and growth both in the turnover and the order book. The financial performance of the company has been given in detail separately in the Directors report.

Internal Control System and Adequacy

The Company has adequate system of internal control in place. This is to ensure that assets are safeguarded and all transactions are authorized, recorded and correctly reported. The internal audit function is empowered to examine the adequacy, relevance and effective control system, compliance with policies, plans and statutory requirements. The top management and the Audit Committee of the Board review the findings and recommend to the Board for improvement on the same.

Material Developments in Human Resource

The Company has continuously adopted structures that help attract best external talent and promote internal talent to higher roles and responsibilities. Your company attaches significant importance to continuous up gradation of Human resource for achieving higher level of efficiency customer satisfaction and growth.

Cautionary Statement

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 expectations of future events. The Company cannot guarantee that these assumptions 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.