Thakral Services (India) Ltd Management Discussions

[Pursuant to Regulation 34(2) (e) of Securities Exchange Board of India (Listing Obligation and Disclosure

Requirements) Regulations. 2015]

1. Business Review:

The organization was recognized for its Electronic Security Services and Solutions for more than a decade and had proven track record across products and solutions such as CCTV, Fire and Intrusion Alann. Access Control etc. We had clients across major industry verticals. We worked w ith some of the w ell-known brands in BFSI, E-commerce, Retail and Phanna. We also had started expanding our sendees in the areas command and control centres. However, we had taken a decision to sell off the securities business and explore newer avenues.

2. Opportunities:

Though securities business has been sold, the organisation had already made its presence felt in the BFSI Sector.

The organization also had footprint in most of the industry verticals and though the electronic security industry is sold, the company is exploring newer avenues of business in these verticals.

The Company is focusing on acquiring new and profitable business, as at present there is no source of income.

3. Internal Control system:

The Company has proper and adequate system of internal controls commensurate with its size and nature of operations to provide reasonable assurance that all assets are safeguarded, transactions are authorized, recorded and reported properly and applicable statutes. Code of Conduct and corporate policies are duly complied with.

The audit committee reviews the adequacy & efficacy of internal control system and other terms of reference at regular intervals, which is more specifically detailed in the Corporate Governance Report.The audit observations are followed up for implementation of corrective actions. The Committee also meets the Companys statutory auditors to ascertain their views on the adequacy of the internal control systems in the Company and their observations on the financial reports. The Audit Committees observations are acted upon by the Management.

4. Future Outlook:

With the economy growing and our earlier network, we are confident that we will show profitability and increase shareholders wealth once the newer business is acquired.

5. Financial:

The present capital base of the Company is Rs.3.52 Crores. The Companys performance during the last year resulted in loss of Rs.25.72 lakhs after depreciation and provisions.

6. Human Resource Management:

The organization always gave high importance to the procedure on recruitment, manpower training and employee welfare measurements. The board always recognised the hard work and special achievements of individuals through defined methods, so that the morale of other employees as well, were kept high. With the hiving off of business, the associated manpower too has been taken over by the acquirer.

Once the newer business is decided and acquired, requisite experienced manpow er would be hired.