dazzel confindive ltd Management discussions

The Company is in the business of trading of commodities. The key issues of the Management Discussion and Analysis are given below.

(a) Industry Structure and Developments

The company is engaged in construction, trading of merchandise and stocks and securities. In last many years construction/real estate industry is fastest growing industry and it seems to be continue in coming year also. Primary and Secondary

security market is gaining momentum in current financial year. We hope for the best in coming year. Company has invested in Joint Venture, bringing a hotel in Indore. Construction of hotel is under process.

(b) Strength

The strength of the company is known from its reputation which the company has earned due to its quality business and cordial relation with its clients and presently the companys financial position is sound due to boom in capital market because of governmental support.

( c ) Comment on Current years performance

Receipts Operating Expenses	: The Receipt has significantly increased. : The operating Expenses are well under control.
Operating Profits	: The Operating Profits are up to industry mark.
Indirect Expenses Depreciation	: The Indirect Expenses are under control. : Reasonable amount of Depreciation is provided.
Profit before tax	: Profit before tax is also showing an improving trend.
Taxation	: Taxation is Provided as per Income Tax Act.
Debtor/Sales	: Debtors are reasonable and realization period has decreased due to the policy of the Company.
Creditors/Purcha se	: The Company has an established credit.

d) Opportunities and Threats

Stock Market is highly risky and volatile market, nobody can predict. The only way to survive is continues study and analysis of market with international factors. A real estate sector seems to be good in coming three to four year.

(e) Segment wise performance

The business of the Company falls under a single segment i.e. Security Trading for the purpose of Accounting Standard AS-17.

(f) Outlook

The continual growth in the Finance sector is expected to give the necessary support to the Finance industry. The Company is making all efforts to accelerate growth of its business. It expects to improve its position in the market by focusing on technologically advanced and more profitable products/market segments and working aggressively in the areas of productivity, efficiency and cost reductions.

(g) Internal control system

Internal audit and other controls have been found to be adequate. These are reviewed periodically by the Audit Committee and found the performance satisfactory.

(g) Cautionary Statement

Statements in the MDA describing the Companys objectives, projections, estimates and expectations are forward looking statements. Actual results may differ materially from those expressed or implies. Important factors that could make a difference to the companys operations include among others, economic conditions affecting demand/ supply, effect of political situations, change in the Govt. Regulations, tax laws and other statutes and incidental factors over which the company does not have any control.

By order of the Board For DAZZEL CONFINDIVE LTD.

Sd/-

 ^{PLACE :JAIPUR}

SUNIL AGRAWAL