N2N Technologies Ltd Management Discussions

INDUSTRY STRUCTURE AND DEVELOPMENTS

Over the years Indian IT & ITes industry has improved and developed as a sophisticated marketplace with modern facilities and amenities. With dedicated regulators, the functions have become systematic and controlled providing depth & discipline to the industry structure. Your Company is one of the intermediaries in a web based business segment. With India, being one of the favored investment destination, business structure is bound to become more & more sophisticated with latest technologies.

OPPORTUNITIES & THREATS

Though the conditions in IT & ITes industry are vibrant, there has been a lot of skepticism about various policy measures. Nevertheless, India has been considered as a favorite business destination by many foreign investors. The fundamental growth drivers of the countrys economy as well as our company continue to remain strong despite the pressures of slowdown and inflationary conditions prevalent till recently in the nation and also globally. Therefore, the company is finding difficult to procure business in IT & ITes, and thus decided to concentrate on other opportunities.

SEGMENT-WISE PERFORMANCE

The income of the Company comprises of interest received. During the current year income from core activities was NIL.

OUTLOOK

The outlook is not positive due to global pandemic caused by novel Corona Virus.

RISKS & CONCERNS

The size of operation of your Company has always been a concern as IT & ITes player, as the industry is moving towards institutionalization. Primary market is dominated by few large players and it is increasingly difficult for small & mid cap entities to penetrate.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has developed formal and well-structured internal control systems to conduct the business within the framework of Regulations. The present structure & systems are adequate and commensurate to the size of operations of your company.

DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

The financial year 2020-21, your company was unable procure any business in IT & ITes business, the only income it had was in form of interest received from funds deployed.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES/INDUSTRIAL RELATIONS FRONT:

There are no material developments in human resources /industrial relations front.

DISCLOSURE OF ACCOUNTING TREATMENT

Your Company follows Accounting Standards as prescribed by Institute of Chartered Accountants of India (ICAI) for preparation of financial statements; there is no other such different treatment followed for the same.

FORWARD-LOOKING STATEMENTS:

This report contains forward-looking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realized. The Companys actual results, performance or achievements can thus differ materially from those projected in any such forward-looking statements.