Management Discussion and Analysis is given in a separate section forming part of the Directors

Report in this Annual Report.

1. INDUSTRY STRUCTURE & DEVELOPMENT

As mentioned at Sr. No. 2 of the Directors Report, the Management has decided to dispose off the undertaking of the Company. In view of this, there is no comment on Industry Structure and Development.

2. OPPORTUNITIES

The factory was closed since 30^th June, 2019 and there is no business transected by the company.

3. THREATS

It is difficult to estimate the revival period of the Company.

4. SEGMENT WISE PERFORMANCE

The Company was engaged in job contract of Biscuits. The factory was closed on 30^th June, 2019 and the management has decided to dispose off the undertaking of the Company. The turnover till 30^th June, 2019 was Rs. 10,232,644/-. After 30^th June, 2019 there is no business transected by the Company.

5. OUTLOOK

The outlook appears to be bleak.

6. OTHERS

For Risk and Concern, Inter Control System and their Adequacy, Financial Performance with respect to operation performance, Material Development in Human Resources/Industrial Relations front, including number of people employed please refer to the Board Report.

A. PARTICULARS OF REMUNERATION FOR THE FINANCIAL YEAR 2020-21

As required under Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

i.The ratio of the remuneration of each director to the median remuneration of the employees

Name of Director	Designatio n	Remuneration of the Directors for 2020-21 (Rs. in Lacs)	Median remuneration of the employees (Rs. in Lacs)	Ratio of remuneration of the directors to the median remuneration of the employees
		Not Applicable

ii.The percentage increase/ (decrease) in remuneration of each Director

Name of Director	Designation	Remuneration paid during 2020-21	Remuneration paid during 2019-20	% decrease / increase in remuneration
Mr. Nirav Shah	Managing Director	8.64	8.64	0.00

iii.The percentage increase in the median remuneration of employees in the financial year 2020-21: NIL

iv.No. of Permanent employees on the rolls of Company as on 31^st March, 2021 1

v.Company confirms that the remuneration is as per remuneration policy of the Company.

B. PARTICULARS OF EMPLOYEE

Information in terms Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

i. Particulars of top Five Employee in terms of remuneration drawn

Name & Designation of Employee	Remunerati on Received (Rs. in Lakhs)	Nature of Employment	Qualification s	Experie nce	Date of Commenceme nt of Employment	Age	No. of Equity Shares held
Pradip R Shah	3.17	Permanent	B. Com	34 years	01/08/1984	60	100

ii. Employees who are employed throughout the year and in receipt of remuneration aggregating

Rs. 1,02,00,000/- or more per year: Nil

iii. Employees who are employed part of the year and in receipt of remuneration aggregating Rs. 8,50,000/- per month: Nil