Ashirwad Steels Management Discussions

As per SEBI disclosure regulation 34(3) and schedule V (clause-B) (For the Financial Year ended 31st March, 2024)

(a)Industry Structure and Developments:

During the financial year 2023-2024; the company did not have any trading or industrial business and hence the company has nothing to report under this head.

(b) Opportunities and Threats:

For the reasons and facts as stated above in sub para (a),the company has nothing to report under thishead .

(c)Segment-wise Product-wise performance:

For the reasons and facts as stated above in sub para (a),the company has nothing to report under this head.

(d) Outlook:

For the reasons and facts as stated above in sub para (a),the company has nothing to report under this head.

(e)Risks &Concerns:

The company has adopted the new business of making investments in shares and securities and in lending of money. This new business does carry certain degree of risk andof delinquency. The company is not immune from it. However your board tries to take rational decisions in these new business matters to minimize the risk.

(f) Internal Control System and its Adequacy:

The Company has proper and adequate system of internal controls commensurate with its size and nature of operations to provide reasonable assurance that all assets are safeguarded, transactions are authorized, recorded and reported properly and applicable statutes are duly complied with. The Company has constituted an Audit Committee to monitor the adequacy and efficacy of internal control systems.

The adequacy of these compliances and their effectiveness is subject to statutory audit and the same has been adequately reported by the Auditors in their report as required under the relevant provisions of the Companies Act, 2013. The Company also has an Internal Audit System.

(g)Discussions on financial performance with reference to operational Performance:

During the year under review the Company s operational financial performance has been quite moderate , the

Company s revenue from operations (net of taxes) stood at Rs.158.52 lacs (previous year Rs.212.13 lacs) and the other income stood at Rs.281.42 lacs (previous year Rs.232.19 lacs) and hence the total income stood at Rs.439.94 lacs (previous 444.32 lacs). The company has earned a post tax net profit/surplus of Rs.225.51 lacs compared to (previous year profit of Rs. 1676.58 lacs). The Other Comprehensive Income (OCI) for the year stood as Rs.21.31 lacs (previous year Rs. 25.62 lacs). The total comprehensive income for the year stood at Rs.246.83 lacs (previous year Rs. 1702.21 lacs).

(h) Material Developments in HRD and industrial Relations Front:

Your Directors recognize the value of employees as valuable assets. Developing, motivating, and retaining talented employees is a key responsibility and policy of your Company s management. The total no. of people employed by the company was six as on year end.

(i) Cautionary Statements

The reader of the relevant statements mentioned hereinabove must read and understand the same with due understanding and necessary caution as they may be forward looking and prone to change in the dynamic economic environment and tax regime.

Place: Kolkata For and on behalf of the Board
Date: 07th May, 2024
Dalbir Chhibbar Vishesh Chhibbar
Managing Director Whole Time Director
(DIN:00550703) (DIN: 03553892)