regency trust ltd Management discussions

ANNEXURE IV

The Company is into the business of trading. The key issues of the Management Discussion and Analysis are given hereunder:

Industry Structure and Development

The recent global economic situation has witnessed immense highs and lows including some unfortunate happenings. Timing is the most important factor while trading. This fluctuates on rapid basis. According to experts most of the time markets have overvalued or undervalued. With the help of Indian market today one need to test ones financial knowledge, analytical capabilities, thought process and mental strength.

Discussion on financial performance with respect to operational performance

The Company earned a Total Income of Rs. 131.02 Lakhs during the FY 2022-23, as compared to the Total Income of Rs. 165.50 Lakhs earned in the previous FY 2021-22. The Companys Net loss for the Financial Year ended March 31, 2023 stood at (46.19) Lakhs as against a Net loss of Rs. (2.58) Lakhs in the previous year.

Segment-wise or product-wise performance

The Company is into single reportable segment only.

Outlook

Regency Trust Limited remains confident of the long-term growth prospects & opportunities ahead of it in its business.

Internal control system and adequacy

The system of internal control has been established to provide reasonable assurance of safeguarding assets, maintenance of proper accounting records in compliance with applicable Laws and Regulations to ensure reliability of financial statements and reports. The Statutory Auditors and the Audit Committee review all financial statements and ensure adequacy of internal control systems.

Opportunities and Threats

The strength of a company is known from sound advices. It also depends on the Government policies of taxation. Introduction of GST may give a big boost to the market.

Risks Management

Risk evaluation and management of risk is an ongoing process in the company.

Human Resources

The Company continues to have cordial relations with all the employees.

Details of Significant Changes in key financial ratios, along with detailed explanations therefor:

- Debtors Turnover	3.03	120.49 in days
- Inventory Turnover	Nil
- Interest Coverage Ratio	Nil
- Current Ratio	0.65
- Debt Equity Ratio	0.89
- Operating Profit Margin	-35.25	negative figure
- Net Profit/Loss Margin	-35.25	negative figure

Details of change in Return on Net Worth as compared to immediately previous financial year along with the detailed explanation thereof

RoNW (FY 2022-23): (-46.19%)

RoNW (FY 2021-22): (2.58%)

RoNW (FY 2020-21): (0.27%)

Return on Net Worth has decreased during the financial year under review as compared to the previous financial year due to reduction in turnover.

Cautionary Statement

Statements in the Management discussion and analysis describing the companys objectives, projections, estimates and expectations may be "forward looking statements" within the meaning of applicable laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the companys operations include economic conditions affecting demand/supply and prices, conditions in the domestic and overseas markets in which the company operates/ going to operate, changes in government regulations, tax laws and other statutes and other incidental factors.

For and on Behalf of the Board of Directors of

REGENCY TRUST LIMITED

	Rajesh Kapoor	Rohit Vijay Thorve
Place: Mumbai	Managing Director and CFO	Director
Date: August 31, 2023	DIN:02757121	DIN:07116102