Global Securities Ltd Management Discussions.

GLOBAL SECURITIES LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS Management discussion and analysis Report, pursuant to Clause 49 of the Stock Exchange Listing agreement is as under: 1. Overall Review: Company deals in trading of Government Securities and Bonds. Slow down in the stock markets will boost up investment in Government Securities and Bonds. 2. Financial Review: During the year Gross turnover of the company was increased to 5,12,85,777/- as compared to Rs. 3,48,40,000/- last year. However company has incurred loss of Rs. 65,03,992/- for the year ended on 31.03.2011 as compared to loss of Rs. 65,59,145/- for the previous year ended on 31.03.2010. 3. Risk and Concern: Bullish trend in Equity Markets, Commodities and Real estate will effect volume and profitability of Government Securities business. There is no other identifiable Risks or threats. 4. Internal Control System and their adequacy: Considering the size of the company, your company has adequate system of internal control to provide reasonable assurance that assets are safeguarded and protected from unauthorized use or disposition. 5. Human Resources: There being only two employees for day to day working of office and the same has been found satisfactory. 6. Environmental Issues: As the company is not in the field of manufacture, the matter relating to produce any harmful gases and the liquid effluents are not applicable. 7. Cautionary Statement: Statement in this report on Management Discussion and Analysis may be forward looking statements within the meaning of applicable security laws or regulations. These statements are based on certain assumptions and expectations of future events. Actual results could however, differ materially, from those expressed or implied. Important factors that could make a difference to the companys operations include global and domestic demand supply conditions, finished goods prices, raw material cost and availability and changes in government regulation and tax structure, economic development within India and the countries with which the company has business contacts and other factors such as litigation and industrial relations. The Company assumes no responsibility in respect of forward - looking statements, which may be amended or modified in future on the basis of subsequent developments, information or events.