Kshitij Investments Ltd Management Discussions.


The World Bank has retained its India growth forecast for 2018-19 saying it will continue to grow, but the catch is the acceleration year-on-year will be gradual. "The latest India Development Update expects Indias economic growth to be at 7.5% in 2018-19, followed by a further acceleration to 7.8% in 2017-18 and 7.9% in 2018-19," the multilateral lending agency said in a report released here. "However, acceleration in growth is conditional on the growth rate of investment picking up to 8.8% during FY17 to FY19".

World Bank Indias Senior Country Economist Frederico Gil Sander said India has taken advantage of the sharp decline in global oil and commodity prices to eliminate petrol and diesel subsidies and increase excise taxes.

"Resources from lower subsidies and higher taxes have been well utilised in lowering deficits and increasing capital expenditure."


Global growth, currently estimated at 3.4 percent in 2017, is projected at 3.6 percent in 2018 and 3.9 percent in 2019. The pickup in global activity is projected to be more gradual than in the October 2015 World Economic Outlook (WEO), especially in emerging market and developing economies.

In advanced economies, a modest and uneven recovery is expected to continue, with a gradual further narrowing of output gaps. The picture for emerging market and developing economies is diverse but in many cases challenging. The slowdown and rebalancing of the Chinese economy, lower commodity prices, and strains in some large emerging market economies will continue to weigh on growth prospects in 2018-19. The projected pickup in growth in the next two years-despite the ongoing slowdown in China-primarily reflects forecasts of a gradual improvement of growth rates in countries currently in economic distress, notably Brazil, Russia, and some countries in the Middle East, though even this projected partial recovery could be frustrated by new economic or political shocks.

Risks to the global outlook remain tilted to the downside and relate to ongoing adjustments in the global economy: a generalized slowdown in emerging market economies, Chinas rebalancing, lower commodity prices, and the gradual exit from extraordinarily accommodative monetary conditions in the United States. If these key challenges are not successfully managed, global growth could be derailed.


The growth of the Company is subject to opportunities and threats as are applicable to the industry from time to time. Government has announced a number of policy measures to kickstart investments. This includes an investment allowance for manufacturing companies, policy measures for creating affordable housing and addressing requirements of agriculture sector through measures other than price supports. Steps are being taken to address requirements of mining and power generation sectors which will remove supply bottlenecks to a number of sectors. Improvement in connectivity to rural areas will result in robustness of demand from semi urban and rural areas. The governments initiative to boost infrastructure projects will provide good opportunities for investment companies. In view of above we anticipate that:

1. Our company will get a major kickstart to increase its revenues

2. The expansions and corporate actions will facilitate growth and improvement in performance

3. Growing economy will provide us with good investment opportunities

4. We will have continued support for the government and regulations


While risk is an inherent aspect of any business, the Company is conscious of the need to have an effective monitoring mechanism and has put in place appropriate measures for its mitigation including business portfolio risk, financial risk, legal risk and internal process risk.


The Companys internal control systems are commensurate with the nature of its business and the size and complexities of its operations. These systems are designed to ensure that all assets of the Company are safeguarded and protected against any loss and that all transactions are properly authorized, recorded and reported.


It is your Companys belief that people are at the heart of corporate purpose and constitute the primary source of sustainable competitive advantage. Particularly in the Securities Market, your Company gives significant importance to its human capital and is dedicated for continuous enhancement of their skills and knowledge by way of training and supervision. Your Companys belief in trust, transparency and teamwork improved employee productivity at all levels.


During the year the Company has not entered into any transaction of material nature with its promoters, the directors or the management, their subsidiaries or relatives etc that may have potential conflict with the interest of the Company at large.

All details of transaction covered under related party transaction are given in the notes to account.


The Company is looking into avenues and opportunities available in the Economy to increase its revenue.


Statement in this Management Discussion and analysis describing the Companys objective, projects, estimates and expectations may be forward looking statement within the meaning of applicable laws and regulations. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. Several factors could make a significant difference to the Companys operations. These include economic conditions, Government regulations and Tax Laws, Political situation, natural calamities etc. over which the Company does not have any direct control.

For and on behalf of the Board
Kshitij Investments Limited
Place: Mumbai Sd/-
Date: 27th May,2019 Kshitij Rajkumar
Chief Financial Officer