Ashari Agencies Ltd Management Discussions.

OPERATING RESULTS OF THE COMPANY

The Company has incurred Net Loss (after tax) of Rs. 4,40,469.76 during the Financial year 2018-19 as against net profit of Rs. 1,77,273.46 in the immediate preceding financial year 2017-18.

INDUSTRY STRUCTURE AND DEVELOPMENT

Presently the company is engaged in the business of Investment, Leasing and financing. The operating results of the company have always been satisfactory except for the financial years 2012-13, 2013-14 and the current year 2018-19.

The management is planning to undertake some other viable business activities in addition to the existing business of investment, leasing and financing.

During last few years, the Government of India has initiated various measures to deepen the reforms in Capital market or economy as a whole including simplification of the Initial Public Offer (IPO) process, Make in India programmer or trust on manufacturing sectors, reforms in power sector, improving roads and other infrastructure etc. All these impacted and bring a positive change in the investment scenario in the country. Indias equity market turnover has increased significantly in recent years. BSE Sensex and Nifty has scaled to new heights.

OPPORTUNITY:

Your Directors are of the opinion that due to various economic factors like good monsoon, government initiative for ease of doing business and removing unnecessary government controls/ procedures, reduction in interest rates etc. the current and the forthcoming years will bring lots of investment opportunities and avenues.

PROSPECT & OUTLOOK

The management is of view that the Company will be able to utilize its resources for higher growth activities.

RISKS AND CONCERNS

The Company identified internal and external business risks or threats to the Companys performance and takes continuous and suitable measure to mitigate and prevent these risks to ensure steady growth.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

There are well-established procedures for Internal Controls for operations of the company. The finance & audit functions are well equipped with professionally experienced qualified personnel & play important roles in implementing the statutory obligations.

The Company has an Audit Committee headed by a non-executive independent director, inter-alia, which periodically reviews the internal control systems to ensure their effectiveness and adequacy as also the annual financial statements with particular reference to major accounting entries, involving estimates based on the exercise of judgment by the management as well as other areas requiring mandatory review as per the Listing Agreement with the stock Exchange.

HUMAN RESOURCES

The Company enjoyed harmonious relation with all employees throughout the year. Your Directors wish to place on record their appreciation of the dedicated and commendable services rendered by the staff and workers of the Company.

The industrial relations continued to be cordial throughout the year and human resource and its development continue to be our focus area.

CAUTIONARY STATEMENT

Statements in this management discussion and analysis report describing the Companys objectives, projections, estimates and expectations may be forward looking statement within the meaning of applicable laws and regulations. Actual might differ from the statements expressed in the above report.

For and on behalf of the Board of Directors
Sd/- Sd/-
(Ravindra Kumar Garg) (Vijay Kumar Aggarwal)
Date : 26.08.2019 Director Director
Place : Ghaziabad DIN : 00928635 DIN : 01020844