Shree Narmada Aluminium Industries Ltd Management Discussions.


On account of severe competition and general depressed market conditions the Companys and the Companys premises has been taken over possession by the Court Receiver DRT-III the companys operations are have stopped.


Due to the Companys premises has been taken over possession by the Court Receiver DRT-III the companys operation have stopped and also high prices of raw materials Company could not increase the level of operations. Also due to non-availability of working funds the Company has not been able to reach projected level of operations.


The Company is confident of achieving projected profitable level of operations within the next 3 to 4 years.


The Companys ability to work at profitable levels depends on availability of materials at competitive prices and increased requirements of Companys product.


Your Company has adequate internal control procedures commensurate with the size and nature of business. These procedures ensure efficient use and protection of the resources and compliance with policies, procedures and statutes. There is a periodical review mechanism for ensuring the sustenance and up-gradation of these systems. Internal Audit is being conducted by an independent firm of Chartered Accountants on a periodical basis and their report and observations are informed and discussed at Audit Committee Meeting in details and recommendations are implemented.


On account of Companys premises has been taken over possession by the Court Receiver DRT-III, the Company could not achieve profitable level of operations, resulting in Loss of Rs. 41.40 lakhs at the end of the year.


Recognizing that people are an important part of the organization, a major exercise in training and development of employees has been undertaken at all levels. The Company gives a lot of Importance to Human Resources activities. These activities have helped to retain and motivate employees of the company.


Estimates and expectations stated in this Management Discussion and Analysis may be "forward-looking statement" within the meaning of applicable securities, laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to your Companys operations include raw material availability and price, cyclical demand and pricing in the Companys principal market, changes in the Government regulations, tax laws, other statutes and economical development within India etc.


(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)


The Members,

Shree Narmada Aluminium Industries Limited Plot no 95/1, Bholav Palaj Road,

Bhalav Bharuch 392001

We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Shree Narmada Aluminium Industries Limited having CIN: L91110GJ1981PLC004269 and having registered office at Plot no 95/1, Bholav Palaj Road, Bhalav Bharuch 392001 (hereinafter referred to as the Company), produced before us by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015.

In our opinion and to the best of our information and according to the verifications (including Directors Identification Number (DIN) status at the portal as considered necessary and explanations furnished to us by the Company & its officers, where by certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on 31st March, 2020 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs, or any such other Statutory Authority.

Sr. No. Name of Director DIN Date of appointment in Company
1 Babubhai Kantilal Shah 01383002 12/03/2003
2 Kantilal Bhuralal Patel 01441306 15/04/1981
3 Arvind Amrutlal Raval 02143076 24/04/2008
4 Milan Rambhai Patel 02143088 24/04/2008
5 Amrutaben Kantilal Patel 07162578 26/03/2015

Ensuring the eligibility of for the appointment /continuity of every Director on the Board is the responsibility of the management of the Company. Our responsibility is to express an opinion based on our verification. This certificate is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the Company.

For Saurabh Shukla and Associates Company Secretaries


Saurabh Shukla Proprietor

Membership No. :A48999 C.P. No. 17845 U DIN:A048999B000677451

Place: Pune