relson india ltd Management discussions

The services sector is not only the dominant sector in Indias GDP, but has also attracted significant foreign investment, has contributed significantly to export and has provided large-scale employment. Indias services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. In order to enhance Indias commercial services exports, share in the global services market from 3.3% and permit a multifold expansion in the GDP, the government is also making significant efforts in this direction. The services sector is not only the dominant sector in Indias GDP, but has also attracted significant foreign investment, has contributed significantly to export and has provided large-scale employment. Indias services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. In order to enhance Indias commercial services exports, share in the global services market from 3.3% and permit a multi-fold expansion in the GDP, the government is also making significant efforts in this direction. India is a unique emerging market in the globe due to its unique skills and competitive advantage created by knowledge-based services. The Indian services industry, which is supported by numerous government initiatives like smart Cities, clean India, digital India are fostering an environment that is strengthening the services sector. The sector has the potential to open up a multi-trillion dollar opportunity that might stimulate symbiotic growth for all nations. (Source: https://www.ibef.org)

Opportunities and Threats

Both domestic and global factors influence the growth of the services sector. An extensive range of service industries have experienced double digit growth in recent years, supported by digital technologies and institutional frameworks made possible by the government. The ease of doing business in India has significantly increased for domestic and foreign firms due to considerable advancements in culture and the government outlook. Due to ongoing changes in the areas of lowering trade barriers, easing FDI regulations, and deregulation, Indias services sector is poised to grow at a healthy rate in the coming years. Increased competition. (Source: https://www.ibef.org)

One of the key sources of profit for services sector is their customers. With the ever-increasing competition in constantly changing markets, organizations find it challenging to acquire new clients and keep existing ones. Customer acquisition and retention challenges in the professional services industry arise from Increased competition, Lack of customer loyalty and trust, Problems related to capturing customers attention, new business models and changing market trends. (Source: https://birdviewpsa. com)

Outlook

Confluence of multiple crises unleashes one of the lowest global economic growth rates in recent decades, according to UN flagship report. A series of severe and mutually reinforcing shocks ? the COVID-19 pandemic, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, as well as the climate emergency ? battered the world economy in 2022. Against this backdrop, world output growth is projected to decelerate from an estimated 3.0 per cent in 2022 to 1.9 per cent in 2023, marking one of the lowest growth rates in recent decades, according to the United Nations World Economic Situation and Prospects (WESP) 2023. The report presents a gloomy and uncertain economic outlook for the near term. Global growth is forecast to moderately pick up to 2.7 per cent in 2024 as some of the headwinds will begin to subside. However, this is highly dependent on the pace and sequence of further monetary

tightening, the course and consequences of the war in Ukraine, and the possibility of further supply-chain disruptions. The report calls for Governments to avoid fiscal austerity which would stifle growth and disproportionately affect the most vulnerable groups, affect progress in gender equality and stymie development prospects across generations. It recommends reallocation and reprioritization of public expenditures through direct policy interventions that will create jobs and reinvigorate growth. This will require strengthening of social protection systems, ensuring continued support through targeted and temporary subsidies, cash transfers, and discounts on utility bills, which can be complemented with reductions in consumption taxes or custom duties. Strategic public investments in education, health, digital infrastructure, new technologies and climate change mitigation and adaptation can offer large social returns, accelerate productivity growth, and strengthen resilience to economic, social and environmental shocks.

Risks and concerns

In the digital transformation era, every organization needs to apply new technologies to stay ahead of the competition. The difficulty of adapting to new technology and keeping up with the trends is among the key challenges organizations face. Talent sourcing is also part of the challenges faced by the professional services sector. A constant challenge for HR departments is to find qualified candidates and retain confident, reliable employees. The grueling talent-sourcing and inadequacy of the requisite expertise can slow down processes and threaten the balance of your workforce. Another challenge facing professional services companies today is the lack of proper understanding of the available resources, their skills, and how to allocate them equally to keep everyone engaged and on pace with the projects. (Source: https://birdviewpsa. com)

Internal control systems and their adequacy

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of its business. These systems and procedures provide reasonable assurance of maintenance of proper accounting records, reliability of financial information, protections of resources and safeguarding of assets against unauthorized use. The management regularly reviews the internal control systems and procedures.

Discussion on financial performance with respect to operational performance

The Company has not carried on any business during the year under review and accordingly the revenue from the operations of the Company for the financial year 2022-23 and 2021 -22 was Nil. The Company has booked a profit in the financial year 2022-23 amounting to Rs. 3,57,284/- as compared Rs. 2,79,227/- in the financial year 2021-22 due to other income.

Material developments in Human Resources / Industrial Relations front, including number of people employed

No material development occurred in Human Resources / Industrial Relations front during the year. The number of employees as on 31.03.2023 was 3. We like to thank our employees for their dedication, and their families for their unfailing support during this difficult time. Your hard work will carry the company through its present difficult time.

Disclosure of Accounting Treatment

In the preparation of the financial statements for the year ended March 31, 2023, the applicable Indian Accounting Standards (Ind AS) have been followed. Pursuant to the notification dated February 16, 2015 issued by the Ministry of Corporate Affairs, the Company has adopted the Indian Accounting Standards (“Ind AS”) notified under the Companies (Indian Accounting Standards) Rules, 2015 with effect from April 1,2017.

Cautionary Statement

Certain statements contained in this Managements Discussion and Analysis and Boards Report may be “forwardlooking statements”. These include statements about Managements expectations, beliefs, intentions or strategies for the future. All forward-looking statements reflect Managements current views with respect to future events, and are subject to numerous risks, uncertainties and assumptions that have been made. Actual results could differ materially from those expressed or implied, depending upon global and Indian demand-supply conditions, changes in Government regulations, tax regimes and economic developments within India and overseas.

For and on behalf of the Board of Directors RELSON INDIA LIMITED

Date: September 04, 2023 Place: Mumbai
	Rajiv Gupta	Aparna Gupta
	Director	Director
RELSON INDIA LIMITED	DIN:01116868	DIN:00822979
L51900MH1987PLC042111
307, Janki Centre, Plot No. 29,
Shah Industrial Estate, Desai Road,
Mumbai-400053
rajiv.gupta111@gmail.com
www.relsonindia.com