Shree Tirupati Balajee FIBC Ltd Management Discussions.

(a) Industry Structure and Developments

Your Company is an ISO 9001:2008, ISO 22000:2005 & ISO 14001:2015 cer ed c ompany mainly engaged in the manufacturing and supply of High Density Polyethylene (HDPE) / Polypropylene (PP) woven sacks, Flexible Intermediate Bulk Container (FIBC), fabrics & Tarpaulin for domestic as well as export markets.

Your Companys customer base is spread across the globe with presence in countries like USA, UK, France, Canada, Australia, Germany, Italy, Spain, New Zealand, etc. The majority of our sales are through exports. The Company has also been recognized by Government of India as an Export House.

(b) Opportunities and Threats

The strong steps of the Government have thrown up new opportunities for the manufacturing industry which the company is gearing up to handle. E orts are continuously being made to catch new markets. Your company is also undergoing a major Capex to further enhance its capacity. There is tremendous shortage of manpower and being a labour intensive industry it has the potenal to a ect production. However, management has adequate systerms in place of constantly monitor manpower requirement, provide internal training and is also introducing new inia v es to reduce arion rates.

(c) Segment wise or product-wise performance.

The company is primarily engaged in the business of manufacture and trading of FIBC, Bulk Bags, Woven Sacks/Bags, Box Bags, PP/HDPE Fabric, Liner and Flexible Packaging which mainly have similar risk and returns. The companys business activities fall within a single geographical and business segment (Woven sack, Fabric & Liner), hence it has no other primary reportable segment.

(d) Future Outlook

Driven by lightweight, user-friendly, sustainable and enhanced packaging , the base of the Company has maintain growth through demand from International as well as domestic industries. In the medium term, the increasing demand for Indian FIBC from major desna on markets, viz, the USA, Canada and Europe, stable foreign exchange rates and increasing among the Indian manufacturers, expected to retain the demand momentum.

(e) Risks and concerns, internal control systerms and their adequacy.

The Company is engaged in the business of manufacturing and export of containers and packaging materials, which is associated with normal business risk as well as the imbalance of demand-supply of products in the domestic as well as International market. We are subject to foreign currency exchange rate which could have a material impact on our results of operations and financial. Global as well as Indian economic and factors that are beyond our control, forecasts and may directly our business operations.

The Company has a Risk Management Policy and adequate Internal Control System in place. The main of this Policy is to ensure sustainable business growth with stability and to promote a pro-acv e approach in, and resolving risks associated with the Companys business. In order to achieve the key, this Policy establishes a structured and disciplined approach to Risk Management; in order to guide decisions on risk related issues. Internal Control System is commensurate with the size, scale and complexity of its operations. The Company continuously reviews its various types of regulatory, financial, , environmental and other business risks. There are adequate systerms to ensure compliance of all various statutory and regulatory requirements and review the same from me to me and to take appropriate actions from me to me.

(f) Discussion on financial performance with respect to operational performance.

The Company has reported increased Profits and turnover during the year under review. The Financial and Operational performance of the Company are on growing trend and details of the same are mentioned in the Financial Statements as well as Board report.

(g) Material developments in Human Resources / Industrial Relations front, including number of people employed.

We believe that our employees are key contributors to our business success. We focus on and retaining the best possible talent. Our Company looks for specific skill-sets, interests and background that would be an asset for our business.

Many inia v es were taken to support business through organizational effciency, process change support and various employee engagement programs which has helped the organizaon to achieve higher producvity level. A significant e ort has also been undertaken to develop leadership as well as technical/ functional capabilities in order to meet future talent requirement.

As on March 31, 2018 we have more than 450 employees. Our manpower is a prudent mix of the experienced and youth which gives us the dual advantage of stability and growth. Our work progress and skilled/ semi-skilled/ unskilled resources together with our strong management team have enabled us to successfully implement our growth plans. The management of the Company enjoys cordial relations with its employees at all levels.

(h) Cautionary Statement

Statements in this report describing the Companys objecvties, expectations or predictions may be forward looking within the meaning of applicable laws and Regulations. The actual results may materially from those expressed in this statement because of many factors like economic condition, availability of labour, price conditions, domestic and International market, changes in Government policies, tax regime, etc. The Company assumes no responsibility to publicly amend, modify or revise any statement on basis of any development, information, event.