Luminaire Technologies Ltd Management Discussions

FINANCIAL PERFORMANCE

During the year under review, the Company has not earned any income as compared to Rs. of Rs.15,949/- earned in the previous year. The company has incurred Net Loss of Rs. 72,95,769/- . (Previous Year Net Loss of Rs.20,85,104/-)

INTERNAL CONTROL SYSTEM

The Company has in place adequate system of internal control commensurate with its size and nature of its operations. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized uses or loss, executing transactions with proper authorization and ensuring compliance of corporate policies.

HUMAN RESOURCES

As on March 31, 2014, the Company had no employees on its rolls drawing salary exceeding the limits specified.

OUTLOOK

As a forward looking statement it can be noted that the Company appears to heading towards better all-round performance during the coming years. Towards this, the Company is working on various software packages. The Company looks forward to a favorable year.

Disclaimer

The information and opinion expressed in this section of the Annual Report may contain certain statements, which the management believes are true to the best of its knowledge at the time of its preparation. The Company and Management shall not be held liable for any loss, which may arise as a result of any action taken on the basis of the information contained herein.