share holding share price Management discussions

OVERVIEW

Infra is recognized brand in the western and southern parts of India mainly due to its quality consciousness and services rendered. The Company has expanded product portfolio and ventured in manufacturing products for Industrial applications which have been well accepted by the customers. The growth in industry and economy will provide opportunity to excel its performance in future.

INDUSTRIAL OUTLOOK

Fiscal 2018-19 belied expectations. For a period, which started out with the promise of robust economic growth (GDP growth in Q1 was 8%) ended on a sub-optimal note as Indias GDP growth slid to 7% in 2018-19 against 7.2% in 2017-18 and considerably lower than the 7.4% estimate set out by Government agencies at the year-start. What is of even greater concern is that experts suggest that India could be on the brink of an economic slowdown as the country has o-late witnessed a drop in several key economic indicators

The Business Environment was challenging during the year due to the volatility in the market conditions and the foreign currency rates. But the Companys outlook remains positive. In our view the Government at Centre in India is doing its best to boost the economic environment by bringing about various changes thereby positively impacting the investor sentiments.

The advantage of Infra is having a centralized Production Facility reducing costs and increasing production efficiency Your Company is working further on consolidating its strengths in the key markets in India to increase the sales in the coming years.

OPPORTUNITIES & THREATS

Looking at present focus of Indian Government on various scheme, focus on infrastructure and creation of jobs and outlook on the monsoon appears encouraging which should provide the much needed support to the rural economy. This is also expected to lead to improved consumer demand. With the new materials and compounds being available in the market place, various conventional materials can be replaced by plastic processing which has advantages of standardization, accuracy and availability at multiple location and the awareness and recognition by the buyers has been a positive sign for the plastic process

This year was challenging year due to various factors. Inflationary pressures continued unabated during the year. High volatility in fuel prices and raw material prices added to the product cost leading to decrease in sales volumes. The company is making continuous marketing efforts to increase its sales and building product image in the market. The Plastic water storage tank manufacturing industries are under pressure due to the competition from unorganized sectors and also the raw material prices which can increase due to uncertainty of petrochemical industries.

RISKS AND CONCERNS

Your Company is continuously evolving and improving systems and measures to take care of all the risk exigencies involved in our business in addition to specific risk which are to do with the companys business model. These risks include: a) Market Risk b) Currency Risk c) Interest Rate Risk d) Insolvency Risk.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has adequate internal control system to safeguard its assets and prevention of misappropriation and detection of fraud and or unauthorized use of assets and it has been designed to ensure preparation of reliable financial statement and maintaining all the assets. The Audit Committee of the Board deals with the significant issues relating to control raised by the Statutory Auditors.

CAUTIONARY STATEMENT

Statement in the Management Discussions and Analysis describing the Companys objectives, projections, estimates, expectations may be "forward looking statements" within the meaning of applicable securities 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, price conditions in the domestic and overseas markets in which the Company operates, changes in Government regulations, tax laws and other statute.

For and on behalf of the Board of Directors,

Infra Industries Limited

Sd/-

Mr. Mukesh Ambani

Managing Director

DIN: 00005012

Date: 14^th August,2019

Place: Mumbai