Ram Minerals and Chemicals Ltd Management Discussions

Presented below is a discussion of the activities, results of operations and financial condition of Ram Minerals and Chemicals Limited (the "Company") for the year ended March 31, 2019. The management discussion and analysis ("MD&A") was prepared using information available as of (date on which the Reports were prepared) and should be read in conjunction with the Companys audited financial statements for the year ended March 31, 2019 and notes thereto.

These Audited Financial Statements are prepared in accordance with Indian Accounting Standards. The Financial Statements include the accounts of the Company all monetary amounts referred to herein are in Indian Rupees (Rs.) unless otherwise stated.

The Indian economy has undergone a tough phase in the year and Indian economy has slowed down due new regulations. The Company is aware that un-certainities in business offer opportunities as well as downside risks and thus has identified and put in place mitigation tools for the same.

Your Company is currently engaged in the wholesale trading of rice, food products and metal, wooden & plastics gift mementos and moreover the Company also looking up for new avenues of business in the field of contracting and sub-contracting of electrical & infrastructure like sewerage, gas pipeline, fibre cable line, roads etc.

The Company has in place adequate systems of internal control to ensure compliance with policies and procedures. The internal audit report along with implementation and recommendations contained therein are constantly reviewed by the Audit Committee of the Board.

Human resources are valuable assets and the Company always endeavors to provide an environment that each participant of our industry including its marketing team, direction team, employees, suppliers etc. are feel secure and remains motivated to contribute their best to achieve the Companys goals.

Statements made in the Management Discussion and Analysis describing the Companys objectives, projections, estimates, predictions and expectations may be ‘forward looking statements within the meaning of applicable securities law and regulations. Actual results might differ materially from those either expressed or implied.

The personnel of "Senior Management" do not have any personal interest in any material financial and commercial transaction of the Company that may have potential conflicts with the interest of the Company at large.