mittal life style ltd share price Management discussions

A. BUSINESS HIGHLIGHTS:

Please refer Financial Statements for financial performance with respect to operational performance and key financial ratios.

B. SEGMENT WISE PERFORMANCE:

The company is operating as largest and most preferred supplier of denim and garment products. Your company has adopted various marketing strategies for sustained growth including increase in number of clients/customers to reduce the dependency on any single client/customer.

C. AN INDUSTRY OVERVIEW:

The management is confident of improvement in the companys working in the near future with fast growth. The scenario of the garment industry and economy in general is buoyant even after the industry is exposed to competition with policy of the government. The process of development, increasing thrust of the government on the garment industry, the future of the industry in which our company is working is bright.

D. SWOT ANALYSIS OF THE COMPANY:

STRENGTH:

• Management depth and ability to manage client/customer relationships

• Enhanced presence in the market through clientele basis

OPPORTUNITIES AND THREATS:

The garment industry is subject to tough competition amongst various segments within and outside the country. The threat of competition is comparatively relatively less in the area in which your company is operating. The increase in demand from business sector will provide opportunity to your company to increase more market share. Moreover, suppliers of denim fabric industry witnessing changes in business dynamics.

E. RISKS AND CONCERNS:

Changes in fashion trends and consumer preferences for denim styles, finishes, and colors can lead to shifts in demand. Suppliers need to stay attuned to evolving market preferences to avoid inventory build-up or shortages. Apart from the risk on account of governmental policies and regulatory changes, business of the company are exposed to certain operating business risks, which is mitigated by regular monitoring and corrective actions. The company has taken necessary measures to safe guard its assets and interest etc.

F. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The company has proper and adequate system of internal controls commensurate with its size and nature of operations to provide reasonable assurance that all assets are safeguarded, transactions are authorized, recorded and reported properly and to monitor internal business process, financial reporting and compliance with applicable laws.

The internal control system has been designed so as to ensure that the financial and other records are reliable and reflects a true and fair view of the state of the Companys business. A qualified and independent committee of the Board of Directors actively reviews the adequacy and effectiveness of internal control systems and suggests improvements for strengthening them.

G. HUMAN RESOURCE MANAGEMENT:

The Company believes that human resource is the most important assets of the organization. It is not shown in the corporate balance sheet, but influences appreciably the growth, progress, profits and the shareholders values. During the year your company continued its efforts aimed at improving the HR policies and processes to enhance its performance. The vision and mission of the company is to create culture and value system and behavioral skills to insure achievement of its short and long term objectives.

H. CAUTIONARY STATEMENT:

Statement made in the Management Discussion and Analysis Report describing the companys objectives, projections, estimates, expectations may be "Forward-looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand supply and price conditions in the markets in which the company operates changes in the government regulations, tax laws & other statutes and other incidental factors.

By Order of the Board of Mittal Life Style Limited Sd/-	Sd/-
Brijeshkumar J. Mittal	Pratik B Mittal
Chairman & Managing Director	Director & CFO
DIN:02161984	DIN:05188126
Place: Mumbai Date: 30/08/2023