Ashoka Refineries Ltd Management Discussions

Management Discussion and Analysis as required under Regulation 34 of SEBI (LODR) Regulations, 2015 read with Schedule-V of die said Regulations, forms part of this Boards Report as follows:

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 dius 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.

The Company is mainly engaged in trading of goods. The Directors and KMPs aim to further take forward the business and expand the business barring any unforeseen circumstances. Dining the year under review. Your Company has recorded a turnover of Rs. 31.34 Lakhs as compared to Rs. 148.20 Lakhs and a net loss of Rs. 16.68 Lakhs. The Directors continue to make sustained efforts and are optimistic about achieving growth in the current year, barring any unforeseen events.

During the year under review, the Company is working in a single segment and thus segment wise report is not required.

The Companys strength lies in its strong determination, a low equity remains a key weakness, limiting growth potential, there are multiple opportunities for expansion in the trading sector, the main threat is the small scale of operations, which may affect competitiveness.

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.

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.

There is no change in nature of the business of the company. The Management of the Company is cordial with each other and terms of company in the industry remain cordial with other players on the market.

The Key financial ratios are given below. Further there being no significant change i. e. change of 25% or more as compared to the immediately previous financial year therefore no as such explanation is required to be given.