Maruti Securities Ltd Management Discussions.

Overall Review

Pursuant to ITAT Order in favour of the Company for the Asst.Year 2005-06, 2006-07,2009-10,2010-11 and 2011-12 the Income Tax Department have preffered an appeal in the High Court of Andhra Pradesh and Telengana challenging the ITAT Order.

Business Risk Management

The Company, like any other enterprise, is exposed to business risk which can be internal risks as well as external risks.

The Countrys economic scenario has improved with a moderate growth of 7% to 8% for the current financial year. Global Economy continues to maintain sustained growth in all segments of the economy.

The Governments thrust on infrastructure and growth in the industrialization with huge investments, the economic activity continuous to grow at a single digit growth.

The volatility in prices of shares due to high fluctuation of the market behavior which can have a direct bearing on the operations of the Company resulting into low margins and may affect the working of the Company.