Mittal Life Style Ltd Management Discussions.

A. BUSINESS HIGHLIGHTS :

Turnover:

Mittal Life Style Limited has turnover of Rs. 897,404,794/- in 2018-2019 as against of Rs. 80,13,21,803/-

Employee Benefit Expenses:

Employees emoluments (other than managerial remuneration) is Rs. 42,29,573/- during the year as against Rs. 42,73,411/- during the previous year.

Other Expenses:

Major components of administrative and other expenses includes Bank Charges & Commission, Sales Promotion & Presentation, Brokerage & Commission, Site Exp., Legal and Professional Tax, Rent, listing fees, insurance premium, Sundry Exp., Bad Debts written off, etc. Administrative and Selling expenses for the year amounted to Rs.16,943,009/- as against Rs. 2,03,97,633/- during the previous year.

Interest and Finance Charges:

Interest and finance charges/bank charges during the year come to Rs.64,23,308/- as against Rs. 75,76,811/- during the previous year.

Depreciation:

Depreciation charge for the current year came to Rs.14,28,113/- as against Rs. 22,82,187/- of the previous year.

Provision for Tax:

The Company has make provision towards current tax of Rs. 58,00,000/- during the year.

Profit/Loss after Tax:

The Company has made profit after tax for the current year is Rs. 15,135,761/- as against profit of Rs. 1,33,08,645/- during the previous year. The Directors are hopeful for the better performance in the future.

Earnings per Share:

Basic per share for the current year worked out to Rs. 2.15 as against Rs 1.89 during the previous year and diluted earnings per share for the current year worked out to Rs. 2.15 as against Rs 1.89 during the previous year.

Financial Condition:

Non Current Liabilities:

The Companys Non Current Liabilities includes Long Term borrowings of Rs.37,588,093 /- and no Long term provision as at 31st March 2019 as against Long Term Borrowings of Rs. 4,87,60,543and no Long term provision as at 31st March 2018.

Current Liabilities:

Companys Current Liabilities includes Trade payables and Other Current Liabilities which are amounting to Rs. 51,634,323/- as at 31st March 2019 against Rs. 4,33,27,244/- of the previous year. The Short Term Borrowing which are amounting to Rs.18,861,827 /- as at 31st March 2019 against Rs. 4,52,90,489/- of the previous year.

Fixed Assets:

Net block of the fixed assets at the end of the year is Rs. 29,13,671/- as against Rs. . 41,12,478/- in the previous year.

Current Assets:

During the year, the Company has current assets of Rs.237,091,119/- against Rs. 25,04,86,734/- of the previous year.

B. SEGMENT WISE PERFORMANCE :

The company is operating as largest and most preferred supplier 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 construction Equipments industry witnessing changes in business dynamics.

E. RISKS AND CONCERNS :

Your company is mainly focusing on manpower and the intelligence. 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.

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.

Regd. Office:

By Order of the Board

Unit No.8/9, Ground Floor,

For, MITTAL LIFE STYLE LIMITED

Ravikiran,
New Link Road,
Andheri [W], Mumbai -
400053, Maharashtra
Sd/-
Sd/-
Brijeshkumar J. Mittal Pratik B Mittal
Chairman & Managing Director Director
DIN: 02161984 DIN: 05188126
Date: 17th August, 2019