Quintegra Solutions Ltd Management Discussions.

Reporting on various aspects of MDA will not be appropriate at present as the Company has still not come out of financial and operational crunch. All possible efforts to revive/restructure the business are being explored. However for the benefit of members current situation relating to IT industry in general as reported by Nasscom are briefed in this section even though they may not be applicable to the company in the present Scenario.

According to Nasscoms CEO survey for fiscal 2020-21,53 per cent of the top Indian IT executives foresee a strong world economy in 2020 as 72 per cent of the CEOs expect their global clients to demonstrate better growth in the year ahead. In the developed markets growth in technology spending is expected. The three growth drivers for technology spending are; enabling digital at the core of enterprise, augmenting customer experience and digital operations, powered technologies such as cloud, data, AI, machine learning and cyber security. Adopting to capitalise on digitalisation in 2020 include reskilling and building the right talent pool, identifying key products and platforms and forging partnerships and co-innovations but lack of digital capabilities and skills are outlined to be a key hiring risk. Other risks include macroeconomic factor, global economic uncertainties and cyber security. Nasscom termed the 2009-19 decade as an unparalleled techade. Giving a hint of how things would be for the IT sector in 2030, the Nasscom CEO survey showcased the five mega trends such as data-led economy riding on 175 zettabytes, disrupted future of work, environmental sustainability stress, Asian economic eminence and mass urbanisation and hyper personalisation.

COVID-19

The outbreak of the COVID-19 pandemic which developed into a global crisis in the last quarter of the FY 2019-20 forced countries globally to impose lock downs on all activities leaving impact on the economy at large. During the pandemic spread in India, the priority was on safety and health of all its employees and other stakeholders, but the impact of the pandemic on the Company was not significant as the Company has neither business nor revenue. The company has no employees except two mandatory KMPS viz. CFO and Company Secretary who worked from home. The Company continued to carry on with the statutory compliances work through practicing professionals. However, repetitive lock downs in the State and the resultant restrictions on logistics caused some delay/ difficulties in collecting, collating and dissemination of information.