Ashoka Refineries Ltd Management Discussions.

FORWARD LOOKING STATEMENT

This report contains forward-looking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realized. The Companys actual results, performance or achievements can thus differ materially from those projected in any such forward-looking statements. 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.

SERVICES

Company is engaged in Cargo handling services. Due to removal of restriction on import, this is excellent field to provide services to the importers. The size of the Company needs to be expanded to enter this industry on a large scale for which Directors are concentrating their attention.

BUSINESS OVERVIEW

Your Company has recorded an amount of Rs.13,46,624.00 under the head other income and incurred expenses for the year amounting to Rs. 17,16,754.52. The expenses occurred were high due to bad-debts incurred by the Company and also COVID-19 has made drastic impact throughout the world and so has also affected the company, business was affected due to complete as well as partial lock down by the Government and limiting the resources available. When there is no earning; bearing of fixed costs becomes a challenge for a small company like us. Somehow the company has managed the staff and other necessary expense and is hopeful that the situation wiii become favourable in coming years.

MARKETING

The Company is making all efforts to revamp its marketing in new areas.

SWOT

Our strength is our determination, weakness is the low equity base, opportunities are multiples and threats are practically none.

The financial highlights are as under:-

Fig. in lacs
Turnover for the year (including other income) 2019-20 13.46
Provision for taxation -
Profit/Loss after tax (3.59)
Paid-up Equity Share Capital as on 31st March2020 340.19

INTERNALCONTROL

The Company has an internal control system, commensurate with the size of its operations, adequate records and documents were maintained as required by laws. The Companys audit Committee reviewed the internal control system. All efforts are being made to make the internal control system more effective.

SEGMENT WISE REPORTING

During the year under review, Company has commenced no activity.

RISK AND CONCERNS

In any business, risks and prospects are inseparable/ As a responsible management, the Companys principal endeavor is to maximize returns. The Company continues to take all steps necessary to minimize losses through detailed studies and interaction with experts.