smilax industries ltd Management discussions

Industry structure and development:

As the Company is unable to carry on its existing objectives, it has decided to venture into civil construction & infrastructure business apart from its existing business. The infrastructure industry in India is traversing through transition phase when compared to its growth over the past few decades.

Opportunities and threats:

The Company is exploring through various means to utilize the opportunities available to carry on the new objects for the growth of the Company.

Outlook:

India is on the verge of witnessing a sustained growth in infrastructure buildup. Infrastructure investments continue to be the most important growth driver for construction companies. The proposed increase in allocation in the twelfth five-year plan (2012-2017) will translate into a healthy business for construction companies.

Risks and concerns:

Technical and Financial Qualification for bidding projects will be the main concern apart from the financial resources which have to be properly identified and planned for.

Financial performance:

Financial performance with respect to operational performance.

(Amount in Rs)

Particulars	For the year ended 31-03-2015	For the year ended 31-03-2014
Total Income	NIL	NIL
Depreciation	NIL	NIL
Profit (Loss) before Tax	(10,42,436)	(773,246)
Provision for Tax-FBT	NIL	NIL
Profit (Loss) after Tax	(10,42,436)	(771,246)
Prior period Adjustment	NIL	NIL

Internal control systems & their adequacy:

The Company has not carried out any financial operations except minor expenditure to meet its statutory requirements during the year. The company has proper internal control system commensurate to its size and operations.

Caution:

Statements in the Management Discussion and Analysis describing the companys objectives, projections, estimates and expectations may be forward looking statements within the meaning of applicable securities laws and regulations. These are based on certain assumptions and expectations of future events. The company does not guarantee that these assumptions and expectations are accurate or will be realized. The actual results or performance could differ materially from those expressed or implied. 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.

	For and on behalf of the Board
	Sd/-
Place: Nellore	DIRECTOR
Date : 14-08-2015