Indrayani Biotech Ltd Management Discussions.

Pursuant to Clause 49 of the Listing Agreement, MDA forms part of this report and is as follows:

A. INDUSTRY STRUCTURE AND DEVELOPMENT:

The Company has discontinued its existing business of bio-technology and is in process to commence the new activity of Travel Technology and Solutions to Travel Industry.

B. FUTURE OUTLOOK:

a) Sales & Marketing:

The Company continues with its existing contacts to develop travel technology business and deals directly with corporates and institutions.

b) Service Terminals:

The Company shall provide the travel technology services from its registered office situated at 1133/5, F C Road, Shivajinagar, Pune - 411 016. The Company is having a full-fledged infrastructure to provide such services.

c) Cost Saving:

The Company continues to focus on reducing the cost of goods sold, as well as, the non-product costs.

C. Segment wise, Product wise Performance:

The Company continues to operate in a single business segment of Travel Technology and Solutions. Therefore, there are no reportable businesses or geographical segments.

D. Internal Control Systems and their adequacy:

The Company has adequate Internal Control system to safeguard all assets of the Company and detect fraud or irregularities, if any. The Internal Control systems are designed to ensure reliability in financial records and other records for preparing financial information.

E. Risk Management Policy:

The process of identification and evaluation of various risks inherent in the business environment and the operations of the Company and initiation of appropriate measures for prevention and/or mitigation of the same is dealt with by the concerned operational heads under the overall supervision of the Managing and Whole Time Directors of the Company. The Audit Committee periodically reviews the adequacy and efficacy of overall risk management system.

F. Material Development in Human Resources:

During the year under report, no employees on the rolls of the Company.

G. Financial & Operational Performance:

The Company has not achieved any income, due to divesting of its existing business of bio-technology. The Company is in process of commencing new business of Travel Technology and Solutions. Hence, during the year, the Company has not earned any income from operations. However, your directors are confident to achieve excellent results, with the commencement of new activity.

Corporate Tax: Since the Company has not generated any taxable income for the period, no provision for taxation has been made in the books of accounts.