oseaspre consultants ltd Management discussions

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34(2)(e) management discussion & analysis report forms part of directors report. Statements in this Management Discussion & Analysis of Financial Condition and Results of Operations of the Company describing the Companys objectives, expectations or predictions may be forward looking within the meaning of applicable securities laws and regulations.

The financial statements are prepared on accrual basis of accounting, and in accordance with the provisions of the Companies Act, 2013 and the Indian Accounting Standards ("Ind AS"), as notified under the Companies (Indian Accounting Standards) (Amendment) Rules 2016 issued by Ministry of Corporate Affairs in respect of sections 133 of Companies Aet 2013. The management of Techno jet Consultants Limited has used estimates and judgments relating to the financial statements on a prudent and reasonable basis, in order that the financial statements reflect in a true and fair manner, for the year.

Risks & Concerns

Risk is inherent to business and the Company is no exception. The Company has adequate internal control systems & procedures to combat the risk. The Company has a detailed risk management policy in place. The continued threat of Covid-19 remains a major risk for the industry this year. Apart, from that, rising inflation continues to be a major concern.

Internal Control Systems & Adequacy

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.

M/s. K.S. Thar & Co. was the internal andit or of the Company for F.Y. 2021-22. The Internal auditors monitor and evaluate the efficacy and adequacy of internal control systems in the Company, its compliance with operating systems, accounting procedures and policies at all locations of the Company. Based on the internal audit, process owners undertake corrective action in the respective areas and thereby strengthen the controls. Significant audit observations and corrective actions thereon are presented to the Audit Committee of the Board.

Key Financial Ratios

Since there are no business operations from last few years in the Company so identifying and comparison of key financial ratios is not possible. Therefore the comparison of Key Financial Ratios is NIL.