Quest Softech Management Discussions

This Management Discussion and Analysis report provides analysis of the operating performance
of the Companys business as well as discussion on the business of the Company, outlook, risk
and opportunities. Statements in this Management Discussion & Analysis Report describing the
Companys objectives, projections, estimates and expectation may be "forward looking statements"
within the meaning of applicable laws and regulations and actual results may differ.

Industry overview

Global Overview:

The financial year 2022-23 remained a volatile year for the IT industry. The overall demand was
subdued and was expected to improve over a period of time. Further the company has ventured
into business of sales and services related to Electric vehicle charges and charging stations since
March, 2023.

Review of financial and operating performance:

During the financial year ending March 2023, the Company revenues stood at 6.47 Lacs and loss
after tax 35.66 Lacs .

1. Paid up share capital:

The Company has a paid-up capital of 1000.00 Lacs as on 31st March 2023 consisting of
1,00,00,000 equity shares of Rs. 10 each.

2. Reserves and Surplus:

Companys Reserves and Surplus stood at Rs. (666.81/-) Lacs compared to last year
Reserves and Surplus Rs. (631.15/-) Lacs. However, the overall net worth of the Company is
Rs. 333.19/- Lacs

3. Secured Loan:

The Company has not accepted secured loan as on March 31,2023.


The Company is trading in the Software Development Services. Recently the company is diversifying
and venturing new business opportunities.

Opportunities and risks

1. To re-iterate, technology is the enabler for change in almost all businesses all over the globe
and hence there is a tremendous opportunity for creating a disruption for every business, including

2. The software staffing industry and application development and maintenance space have been
facing challenges due to increased competition.

3. The company has ventured into business of sales and services related to Electric vehicle charges
and charging stations.


Like any other corporate, the company is exposed to interest rate risk, currency fluctuations,
credit risk and regulatory risks. The company conducts a periodic internal audit that ensures risk
management process is in place


The Company aims to increase its revenues and consequentially, its profit.

Internal Controls and its adequacy

Adequate internal control ensures transactions are authorized, recorded and reported correctly
and assets are safeguarded against loss from unauthorized use or disposition. In addition, there
are operational controls and fraud risk controls, covering the entire spectrum of internal financial
controls. The Company has been reviewing its internal control systems and processes continuously
and company have a separate department of internal control for continuous surveillance.

For and on behalf of the Board of Directors
Quest Softech (India) Limited

Vipul Chauhan Naimish Raval
Managing Director Executive Director

Date: 5th May, 2023

(DIN: 01241021) (DIN: 09359061)

Place: Vadodara