Prithvi Exchange (India) Ltd Management Discussions.

MARKET SCENARIO

Your company is one of the pioneers in Foreign Exchange Business and its identity in the industry is well established. As you may be aware, our industry is one of the most affected during this pandemic outbreak owing to lock down and stoppage of scheduled flights worldwide. This type of situation is unprecedented and never occurred in the history of Travel and Tourism.

In spite of the all these damages and external threats your company is fundamentally strong to overcome this adverse situation. The company & the management is doing its every bit to overcome the impacts of the current situation. The company has undertaken various cost cutting measures and adopted remote working during the lockdown to ensure the customers requirements are fulfilled. We are hopeful that once the International passenger flights are operational & back to its schedule, the business will be back to normalcy.

OPPORTUNITIES

Your company is always keen in achieving great success and expanding its operations throughout the nation. As a note of positive tone, our company has opened new branches at Pune during January 2020 as well as in New Delhi during current financial Year. Your company has plans to open up few more branches at Kolkata, Amritsar, Jalandhar, Jaipur, Visakhapatnam etc.,

Prithvi is also stated working on opening up Digital Forex platform for its customers, as we always believe that change is the one way to success, and also to keep us going along with the technology and innovation.

Also your company is keen-eyed to further explore the forex business opportunities in medical and education sector which is 11 billion dollar market in addition to its existing clientele of Corporates, Travel companies, HNIs etc.,

CONCERNS

The uncertainty of resuming scheduled International flights in near future & fear of travel owing to health related risks are the major threats currently in addition to Margin pressure and Internet security.

INTERNAL CONTROLS AND SYSTEMS

PRITHVI EXCHANGE (INDIA) LIMITED has an adequate system of internal control in place which has been designed to provide a reasonable assurance with regard to maintaining of proper accounting controls, monitoring of operations, protecting as set from unauthorized use or losses, Adhering compliance and regulations to ensure the reliability and integrity of reporting financial information.

RISK MANAGEMENT FRAMEWORK

The Company has a Risk Management Framework, which provides the mechanism for risk assessment and mitigation.

The Risk Management Committee (RMC) of the Company comprises the Chairman, Whole Time Director and members of senior management. During the year, the RMC reviewed the risks associated with the business of the Company, its root causes and the efficacy of the measures taken to mitigate the same. Thereafter, the Audit Committee and the Board of Directors also reviewed the key risks associated with the business of the Company, the procedures adopted to assess the risks and efficacy of mitigation measures.

CAUTIONARY STATEMENT

Statements in this Management Discussion and Analysis Report describing the Companys objectives, projections, estimates and expectations may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Companys operations include significant changes in political and economic condition.