T. Spiritual Management Discussions

Pursuant to Listing Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 aligned with Companies Act, 2013, the Management Discussion & Analysis Report for the year under review is given below;


The Management Discussion and Analysis Report sets out the developments in the business, the Companys performance since the last Report and the future outlook. This Report is part of the Directors Report and the Audited Financial Statements, forming part of the Annual Report. However, certain statements made in this Report relating to the projections, outlook, expectations, estimates, etc. may constitute "forward looking statements" within the meaning of applicable laws and regulations and may differ from actual. Several factors could make a significant difference to the Companys operations, including climatic conditions, economic conditions affecting demand and supply, government regulations, revision in government policies, taxation and natural calamities over which the Company does not have any control.

Global Scenario

A key driver of inflation across the world has been the rapid surge in energy, food, and commodity prices. The economic indicators suggest that global activity has slowed owing to the Russia-Ukraine war. Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO economists said in a new forecast on 5 April. Weighed down by the effects of the war in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty.

Business Segment

T. Spiritual World Limited is engaged in the business of trading and dealing in other concern activities with an excellent track record of growth in the Indian domestic market. The Company adherence to strong business ethics and transparent corporate policies, with a stable political environment, this is probably the most conducive period for a steady pace of implementation of policy reforms.

Review of Operation

The Company operates mainly in Indian Market. The management of T. Spiritual World Limited presents the analysis of performance of the Company for the Financial Year 2022-2023 and its outlook for the future. This outlook is based on assessment of the current business environment. It may vary due to future economic and other developments. The Company has managed to maintain a growth trajectory in its financial performance in the current year. During the year under review, the Company achieved the total revenue of Rs. 0.18 Lakh.

Opportunities and Threats

Opportunities a) Favorable Government regulations b) Favorable macro-economies and micro-economies conditions c) Niche for growth

Threats a) Imports from China and other cost effective labour countries b) Competition in the Indian market from large traders c) Geographically located in East India and presently not covering pan India d) Increase cost of operations

Risk and Concerns

Uncertainties in business offer opportunities and downside risks. Consequently, the Company recognizes the importance of well-structured system to identify and manage the different elements of risk.

Pressure on margins, high manpower and infrastructure cost, availability of substitutes, higher overheads, are some factors which could impact adversely especially as we strive to tap into the competitive markets.

Basis of preparation and presentation of our Financial Statements

The Financial Statements have been prepared and presented under the historical cost convention, unless otherwise specifically stated, on the accrual basis of accounting and comply with the applicable accounting standards referred to in the Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014.

Internal Financial Control and their Adequacy

The Company has in place well-defined internal control mechanisms and comprehensive internal audit programs with the activities of the entire organization under its ambit.

Human Resources

Human Resources Development envisages the growth of the individual in tandem with the organization. It also aims at the upliftment of the individual by ensuring an enabling environment to develop capabilities and to optimize performance.

Your Directors want to place on record their appreciation for the contribution made by employees at all levels, who through their steadfastness, solidarity and with their co-operation and support have made it possible for the Company to achieve its current status

The Company, on its par, would endeavor to tap individual talents and through various initiatives, ingrain in our human resources, a sense of job satisfaction that would, with time, percolates down the line. It is also the endeavor of the Company to create in its employees a sense of belonging, and an environment that promotes openness, creativity and innovation.

Material Developments in Human Resources

Our professionals and employees are our most important assets. We believe that the quality and level of service that they deliver is a huge contributing factor in growth and development of the Company. Further, for better management certain alterations were made in the top management and other hierarchies in the Company.

Discussion of Financial Performance

Directors of your Company are very hopeful to build up the performance of the company and post better results in the forthcoming financial year and to add value to the shareholders. The Company is hopeful of improving its turnover and bottom line and hopeful of posting better revenue ahead. Financial Highlights with respect to Operational Performance is as under:

(Rs in Lakhs)


2022-2023 2021-2022 2020-2021
Profit Before Tax (18.25) (118.24) (114.72)
Profit after Tax (18.25) (118.24) (114.72)
Earnings Per Share (Rs.) (0.09) (0.59) (0.57)

Details of Significant Changes: -

Sl. No.


F.Y. 22-23 F.Y. 21-22




1 Current Ratio 15.323 18.150 Current Assets Current Liabilities NA


Debt Equity Ratio

- -

Total Debt

Shareholders Equity



Debt Service Coverage Ratio NA NA Net Operating Income Total debt Service NA


Return on Equity Ratio

-0.106 -0.619

Net Profit After Tax

Shareholders Equity

Decrease in net income as wells as decrease in shareholders equity.


Inventory Turnover Ratio NA NA Cost of Goods Sold Average Inventory NA


Trade Receivale Turnover Ratio 0.000 0.000 Average Receivable*12 Income from NA


Trade Payable Turnover Ratio NA NA Avereage Payable*12 Net Credit NA


Net Capital Turnover Ratio 0.000 0.000 Sales Net Assets NA


Net Profit Ratio

-101.365 -22.711

Net Profit After Tax

Total Revenue

Decrease in losses as wells as decrease in total revenue.


Return on Capital Employed

-0.106 -0.619

Earnings before Interest and Tax

Capital Employed

Decrease in losses as wells as decrease in capital employed.


Return on investments

0.000 0.000

Differce in amount of investments

Initial Investments


NA - Not Applicable

Cautionary Statement

Statements made in the Management Discussion and Analysis Report describing the Companies objectives, expectations or predictions may be forward looking within the meaning of applicable securities laws and regulations. Actual results may differ materially from those expressed in the statement important factors that influence the Companys operations, include global and domestic supply and demand conditions. We undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward looking statements that speak only of their dates.