Shri Kalyan Holdings Ltd Management Discussions

SHRI KALYAN HOLDINGS LIMITED ANNUAL REPORT 2011-2012 MANAGEMENT DISCUSSION AND ANALYSIS Market Scenario: The year 2011-2012 was very exciting for capital market. Economical reforms decelerate Indias image in the Global market. Capital Market was one of the biggest affected markets, witnessed continued lack of interest from Foreign Institutional investors and attracted small foreign funds. Indian investors were too inactive in the primary and secondary markets. Opportunities and Threats: Being an Investing Company, its opportunity and threat would be more specific to the ones, which apply to the companies operating in the capital market. Outlook: Review of the Operation of the Company has been given in detail in Directors Report. Risks and Concerns: Your Company ensures adherence to best practices and has necessary internal system and control in place to manage the risk. Place: Jaipur FOR AND ON BEHALF OF Date : 25th May, 2012 THE BOARD OF DIRECTORS Sd/- RAJENDRA KUMAR JAIN CHAIRMAN