chitradurga spintex ltd Management discussions

The Management Discussion and Analysis Report of your company for the financial year ended on 31st March, 2023 is as under:

INDUSTRY STRUCTURE AND DEVELOPMENT

Your Company is engaged in the manufacturing and trading activities and management expects that there is huge scope of development and growth inspite of competitive market conditions. The unprecedented outbreak of COVID-19 impacted the global economy and human life, making it a very challenging environment for all the businesses. The changes forced on people and businesses by the pandemic are likely to last for some time and established ways of doing business may undergo changes leading to new ways of working. Your Company was able to successfully manage immediate challenges of re-establishing normalcy in business operations and Companys assessments, strategies and prospects outlined in this report are to be read in the context of the evolving situation.

FINANCIAL PERFORMANCE & REVIEW

During the year under review, the Standalone total Income was Rs.13.28 lakhs against Rs.248.60 no Income for the corresponding previous year.

SEGMENT WISE PERFORMANCE

As the Company is into single reportable segment therefore, segment wise performance is not applicable.

RISK MANAGEMENT

The growth of your Companys portfolio is linked to the overall economic growth. Primary risk to the business will be on account of adverse changes to the economy. Further, the changes in consumer behaviour, buying patterns and working environment arising due to COVID-19 pandemic may pose some challenges for the businesses. To manage risk of an COVID-19 outbreak within the companys premises impacting employee safety & wellbeing constant communication on building employee awareness, limited working from campus, proper sanitization, appropriate social distancing are already in place.

BUSINESS OUTLOOK

The Directors are under the process of exploring other avenues of diversifying into new areas of business.

INTERNAL CONTROLS

The Company has robust internal control-systems in place which are commensurate with the size and nature of the business. The internal control are aligned with statutory requirements and designed to safeguard the assets of the Company. The internal control systems are complemented by various Management Information System (MIS) reports covering all areas. Increased attention is given to auto generation of MIS reports as against manual reports to take care of possible human errors or alteration of data. The Management reviews and strengthens the controls periodically.

SUBSIDIARIES

Your Company has no subsidiary Companies.

CAUTIONARY STATEMENT

The statements in the "Management Discussion and Analysis Report" section describes the Companys objectives, projections, estimates, expectations and predictions, which may be "forward looking statements" within- the meaning of the applicable laws and regulations. The annual results can differ materially from those expressed or implied, depending upon the economic and climatic conditions, Government policies and other incidental factors.

F or MKP Mobility Limited
(Formerly known as Chitradurga Spintex Limited)
Sd/-	Sd/-
Jitesh Mahendra Patodia	Anshay Jitesh Patodia
Managing Director	Director
DIN: 09700718	DIN:09700717
Date: 31st August, 2023
Place: Pune