Citurgia Biochemicals Ltd Management Discussions

The Companys operations continued to be suspended throughout the year. The lock out declared at Rishikesh factory with effect from 29^thSeptember, 2003 continues to be In force till date. The production and sales were nil during the year under review. Material developments in industry structure have been dealt with in the directors report under the head ‘Rehabilitation Scheme and ‘Future plans which should be treated forming part of this Management Discussion and Analysis.

OUTLOOK, OPPORTUNITIES AND THREATS

Discussions on outlook & opportunities have already been dealt with in Directors Report which should be treated as forming part of the Management Discussion and analysis.

RISKS AND CONCERNS

This is not discussed in detail since the Companys operations continued to be suspended throughout the year.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has not conducted internal audit for the year under report.

FINANCIAL PERFORMANCE

Discussion on financial performance with reference to operational performance has been dealt with in the Directors Report which should be treated as forming part of this Management Discussion and Analysis.

HUMAN RESOURCES

Material development in human resources/ industrial relations front has been dealt with in the Directors Report, under the head ‘Operations and ‘Industrial Relations, which should be treated as forming part of this Management and Discussion Analysis. As at 31^stMarch, 2022, the employee strength (on permanent rolls) of the Company was Nil.

CAUTIONARY STATEMENT

Statement in this Management Discussion and analysis describing the Companys objectives, projections, estimates, expectations or predictions may be forward-looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. The Company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of theirdates.