Jetmall Spices and Masala Ltd Management Discussions

a. Industry Structure & Development:

India is the worlds largest spice producer. It is also the largest consumer and exporter of spices. The

Indian spice market is expected to grow to an estimated USD 161.62 Million by 2032. The Spices Market shows a diverse distribution with significant regional variances. The southern and western regions of India, known for their rich spice production, hold the largest market share. States like Kerala, Tamil Nadu, Andhra Pradesh, and Maharashtra are prominent contributors due to favorable climatic conditions and established agricultural practices.

b. Segment-wise analysis

Your Company is dealing in only one segment of business that is trading of Spices, Masala, Food Grains and Kirana Products.

c. Outlook:

Spices have a long and ancient history, especially in India, where they are a part of life and heritage. In every home & in every province across the country, different spices and blends are used to create different and distinctive tastes in dishes. Our outlook remains bullish with our unconditional focus on building customer trust and value. Our unique selling point includes our professional yet very experienced management team coupled with our unwavering focus on providing a quality product. With the new management coming in we are positive to achieve a favorable growth.

d. Opportunities

The growing demand for innovative flavors, authentic cuisines, and ethnic tastes, along with the rise of the food processing industry and changing consumer lifestyles, is driving the Indian spices market. Increased use of spices in processed and ready-to-eat foods reflects this trend. In response, the Company is planning to expand into a new state in India to tap into emerging opportunities and is optimistic about gaining a favorable response from the target customers.

Threats, Risks, and concerns:

One of the significant restraints in the India spice market is the fluctuating price of raw materials. Maintaining consistent quality is a major challenge for the India spice market. Adulteration and contamination of spices with inferior or harmful substances remain a persistent problem, undermining consumer trust and posing significant health risks. Consumer trends are shifting toward organic, preservative-free, low-sodium, and functional foods. Failure to align with these expectations could result in product obsolescence and reduced shelf performance.

e. Internal control systems and their adequacy:

The company has a comprehensive system of internal financial controls that is appropriate for its size and operations. This system ensures timely and accurate financial reporting, the safeguarding of assets, and compliance with all applicable laws and regulations. The companys internal auditors regularly review the internal financial control system to ensure its effectiveness, and any necessary changes or suggestions are incorporated into the system. The internal audit reports are also reviewed by the companys audit committee.

f. Material developments in human resources/industrial relations front, including number of people employed:

The Company is continuously endeavoring to align the employees objectives with the business objectives of the organization to achieve its goals.