Bansal Multiflex Ltd Management Discussions.

i) Industry Structure and Development

Our Company is engaged in trading of cloth, different type of semi furnished fabrics, varieties of finished fabrics and different type of chemicals primarily used in making detergent and soaps. Our Company engages services of third party job workers for processing of Grey cloth which includes dying, bleaching, printing, drying etc. Our Company trades semi-finished and finished product to garment houses for manufacturing of garments in the apparel industry. Our Product portfolio comprises of wide range of fabrics Grey fabric, Cotton Fabric, Dress materials , Matchings, Twill Fabrics, Satin fabrics, Slub Satin Fabrics, Cotton Slub fabrics, Dobby fabrics, Meti fabrics, Jute Fabrics, Denim Fabric, Xford Fabrics, Rencho Fabrics, Micro Cotton Fabrics and Raymond Cotton Fabrics under the spectrum of fabric and cloth and Acid Slury (LABSA),AOS Chemicals, Caustic Flakes, Caustic Soda Flakes under the spectrum of chemicals.

ii) Opportunities and Threats

The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade with the entry of several international players like Marks & Spencer, Guess and Next into the Indian market. The organised apparel segment is expected to grow at a Compound Annual Growth Rate (CAGR) of more than 13 per cent over a 10-year period.

iii) Internal Control system and their adequacy

The Company has adequate system of internal control commensurate with its size and operations to ensure orderly and efficient conduct of the business. These controls ensure safeguard of assets, reduction and detection of frauds and error, adequacy and completeness of the accounting record and timely preparation of reliable financial information.

iv) Financial performance with respect to operational performance

The financial performance of the Company for the year 2016-17 is described in the Directors Report.

v) Segment wise Performance:

During the year, the Companys revenues are Rs 62550405 (i.e. 53.17%) in textile segment and Rs 55094864 (i.e. 46.83%)in chemical. Our Company has achieved a progress in its operations but due to its future expansion plans and emerging opportunities your directors expect increase in its revenue and income.

vi) Recent Trend and Future Outlook:

The sector in which the Company has been operating is developing faster and provides ample growth opportunities.

vii) Risk and Concerns

Our business is subjected to various risks and uncertainties, our results of operations and financial conditions are affected by numerous factors including the following:

• Diversified products and customer base

• Range of products and Distribution Channel

• Quality of Products

• Timely Execution of orders

• Leveraging the experience of our Promoters

• Cordial relations with our Clients and Suppliers

viii) Material developments in Human Resources/Industrial Relations front, including the number of people employed.

During the year under review, no such initiatives and/or developments in Human Resources/Industrial Relations front has been taken by the Company. ix) Cautionary Statement:-

Statement in this Management Discussion and Analysis describing the companys objectives, projections, estimated and expectations are "forward looking statements" Actual results might differ, materially from those anticipated because of changing ground realities.

For and on behalf of the Board
Anupkumar Bansal
Date : 29/08/2017 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)