mirch technologies india ltd Management discussions

Industry structure and development:

The company is into the activities of industrial design and fabrication. The Company has been covering various industries like fertilizers, chemicals, petrochemicals, power plant, fibers, cements, steel plants, pharmaceuticals, dyes and intermediates, paper and pulp and other allied processing industries since its inception.

Opportunities:

Industrial design encompasses many different types of opportunities, which carry out working with prefabricated materials, to heavy engineering that relies on the use of raw materials.

Segment-wise performance:

In this industry there has been some odd sluggishness in the transmission space despite very optimistic expectations.

Major threats:

Achieving sustainable growth can also present challenges. Turning a small product engineering company into a larger one normally requires a lot of capital.

The skills, expertise, the supply chain to develop products, the costs of manufacturing, including raw material costs are major threats for sustaining in the long term.

Future Outlook:

As per the current analysis there seems to be a positive outlook for Industrial design sector in the coming years.

Risk Management:

Risk is an important element of corporate functioning and governance. The Company has established the process of identifying, analyzing and treating risks, which could prevent the Company from effectively achieving its objectives. It ensures that all the risks are timely defined and mitigated in accordance with the well structured risk management process.

Internal control system and their adequacy:

The Company has adequate system of internal controls that are commensurate with its size and nature of business.

Performance:

The Company has constantly trying to increase its turnover as well as profitability.

Human Resource:

The company places high importance on the development of its human resources. It imparts regular training to its employees to make them more focused to adapt to the constant changes in the business environment. Industrial relation in the units was satisfactory.

Discussion on financial performance with respect to operational performance:

Turnover of the Company is Rs. 3,83,95,823.75 /- for the year ended on 31^st March, 2023 as compared to Rs. 16,40,000/- for the year ended on 31^st March, 2022. Net worth is Rs.61,61,000/- for the year ended on 31^st March, 2023 as compared to Rs. Rs. 7,28,626/- /- for the year ended on 31^st March, 2022.

Cautionary Statement:

The statements made in this report describe the Companys objectives, expectations and projections that may be forward looking statements. The actual results might differ materially from those expressed or implied depending on the economic conditions, government policies and other incidental factors, which are beyond the control of the company and management.

For and on behalf of the Board of Director of

Mirch Technologies (India) Limited

Sd/-

PANKAJKUMR PATEL

DIN: 09054613

Managing Director

Sd/-

APURVKUMAR PANKAJBHAI PATEL

DIN: 09551283

Director