Ashoka Refineries Ltd Management Discussions.

During FY 2021, the Covid-19 pandemic struck a huge blow to the global economy due to the lockdown and containment measures required to control the spread of the virus. Massive disturbance in the global supply chain and regional production network resulted in colossal social and economic dents across communities, and countries.

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 forwardlooking 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 has started a new line of business and is now engaged in trading of good and providing consulting services. It is expected that this new line shall help company to grow and directors are concentrating and trying to put all efforts to turn this new line into a successful one.

BUSINESS OVERVIEW

During the year under review, Your Company has started a new line of business and is happy to inform that despite ongoing Covid-19 scenario it has managed to record a turnover of Rs.74.54 Lakhs and incurred expenses of Rs.75.99 Lakhs for the year. Lock and unlock has hampered the business to a lot of extent but Company is determined to fight the circumstances with what all resources are available to it. .

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) 2020-21 74.54
Provision for taxation -
Profit/Loss after tax 0.82
Paid-up Equity Share Capital as on 31st March2021 340.19

INTERNAL CONTROL

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 is working in a single segment as already detailed above.

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.