Mishka Finance & Trading Ltd Management Discussions

Your Director are pleased to present the Management Discussion and Analysis Reports for the year ended March 31, 2018 as under:

• Industry Structure and Developments:

Mishka Finance And Trading Limited is engaged in the business of Trading of Fabric, shares and securities. The future looks bright for the Indian textile industry. There are positive drivers which indicate future growth opportunities. Rising government focus and favorable policies is leading to growth in the textiles and clothing industry.

• Business operations:

The Company is engaged in the business of Trading of Textiles and Shares. The operational performance of the Company during the year was satisfactory looking to the weak market scenario, high input cost, lack of demand by consumers due to high inflation rate, steep competition in profit margin. We identify trends and focus on fundamental quality growth companies for investments. We believe this approach to investing is paramount to long term wealth creation.

• Out Look

There are renewed hopes that better monsoon and further reforms will expand the economy at even faster pace with a growth rate going up to 8%, thus keeping inflation under control. India is likely to gain momentum in the year to come as result of various policies taken up by the government Key reforms like Goods and Services Tax (GST) will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of Goods and services.GST will have a far reaching impact on almost all the aspects of the business operation in the country.

• Internal control System

The Company has an effective internal control environment which ensures that operation are managed efficiently and effectively, assets are safeguarded, regulatory are complied with and transactions are recorded after appropriate authorization. Every quarter, the significant audit findings, the corrective steps recommended and their implementation status are presented to Audit Committee.

• Human relations

In Mishka Finance and Trading Limited Human resources have always been most valuable assets. During the year the Company had a positive relationship between the management and the employees and strives hard to maintain the same relation in future. Human resources management incorporates a process driven approach that invest regularly in the extensive training programs to motivate and boost the employees morale to work more efficiently and in a healthy work atmosphere.

• Opportunities:

With the improved Political stability and favorable trade policies in the Country indicate future growth opportunities. Increase in domestic demand is set to boost cloth production. Changing lifestyles and increasing demand for quality products are set to fuel the need for apparel. Rising per capita income, favorable demographics and a shift in preference for branded products is expected to boost demand.