Mrugesh Trading Ltd Management Discussions.

Business Overview

During the year under review, the Company has earned profit of Rs. 4,10,248/- as compared to previous years loss of Rs. 5,25,382/-. The profit of Rs. 4,10,248/- is deducted from the debit balance brought forwarded from earlier years resulting into a Net debit balance of Rs. 9,00,229/- as compared to debit balance of previous year of Rs. 13,10,477/-, which your Directors propose to carry over to next year.

Industry Structure and Development

The Company is presently dealing in commodity trading and commission income. The Directors of the Company are exploring opportunities in trading of commodities in the changing economic environment.

Our Strength

(i) Significant experience

(ii) Good Reputation and Brand Image

(iii) Experienced execution team & associates

(iv) Local marketing support & experience

Significant factors affecting our results of operations

Our business is subjected to various risks and uncertainties. Our results of operations and financial conditions are affected by numerous factors including the following:

• Government Policies

• Changing technology

• Tax policies

• Cost of Various factors

• Competition to trading sector

Competition

Our Company faces competition from various domestic traders. We believe that our capability, experience and reputation for providing safe and timely quality services allow us to compete effectively.

Discussion on financial performance with respect to operational performance

The Company has incurred losses during the year under review. The Directors of the Company are exploring all possibilities of turning around the Company.

Corporate Governance

Though Corporate Governance, pursuant to SEBI (Listing Obligation and Disclosures Requirements), Regulations, 2015 is not applicable to Company, your Company has successfully implemented the mandatory provisions of Corporate Governance in accordance with the provisions of Companies Act, 2013 as a good Corporate Governance Practice.

Industrial Relations

During the year under review, your Company had cordial and harmonious industrial relations at all levels of the organization.

Forward looking and cautionary statements

Statements in the Management Discussion and Analysis Report detailing the Companys objectives, projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable laws and regulations. These statements being based on certain assumptions and expectation of future events, actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements on the basis of subsequent developments, information or events.

By Order of the Board of Directors

For Mrugesh Trading Limited

Place: Mumbai,

Dated: 30th May, 2017