Tiaan Consumer Ltd Management Discussions

Annexure-I

A. ECONOMIC OUTLOOK FOR F.Y. 2023-24:

Macroeconomic Overview

Economy Back to Growth, Business as Usual

Indias GDP took a big leap on Leap Day in 2024: The countrys remarkable growth rate of 8.4% inthe third quarter of the fiscal year 20241 surpassed all expectations, as market analysts had pencilledin a slower growth this quarter, between 6.6% and 7.2%. With substantial revisions to the data fromthe past three quarters of the fiscal year, Indias GDP growth already touched 8.2% year over year(YoY) in these quarters.

We have revised our growth prediction for this year to a range of 7.6% to 7.8%, up from our previousestimates due to GDP revisions and stronger-than-expected growth in fiscal 2024. However, weexpect growth in the fourth quarter to be modest because of uncertainties related to Indias 2024general elections and modest consumption growth. Our expectations for the near-term future remainin line with previous forecasts with a slight change in the forecast range due to a higher base effect infiscal 2024. We believe GDP growth to be around 6.6% in the next fiscal year (fiscal 2025) and6.75% in the year after (fiscal 2026), as markets learn to factor in geopolitical uncertainties in theirinvestment and consumption decisions.

Global Economic Overview:

The global economy is expected to witness a synchronous rebound in 2025 as major electionuncertainties are out of the way and central banks in the West likely announce a couple of rate cutslater in 2024. India will likely see improved capital flows boosting private investment and a reboundin exports. Inflation concerns remain, however, which we believe may ease only in the latter half ofthe next fiscal year barring any surprises from rising oil or food prices.

In this edition of India economic outlook, the focus is on the emerging consumer spending patterns inIndia, highlighting the rise of the middle-income class. Not only has growth in consumer spendingpost pandemic been fluctuating, but there is also a shift in consumption patterns, with demand forluxury and high-end products and services growing faster than demand for basic goods. As we expectthe number of middle- to high-income households with increasing disposable income to rise, thistrend will likely get further amplified, driving overall private consumer expenditure growth.

But the challenge of rising household debt and falling savings could weigh on long-term growthsustainability. Controlling household debt to prevent it from crossing unsustainable levels will beessential to mitigate risks of debt overhang, maintain economic stability, and protect householdsagainst financial vulnerability. Real GDP growth climbed to 8.4% YoY in third quarter of the currentfiscal year.

B. COMPANY OVERVIEW:

The company is engaged in the business of investment, financing, trading in shares and securitiesactivities. We believe that we are well placed to leverage on the growth opportunities in theeconomy.

TIAAN CONSUMER LIMITED is poised for rapid growth. Unique Experience and insight of itsManagement allows the company to discover new opportunities and reveal their true potential.Growth and money cannot sustain an organization for as long as uniqueness and excellence can.Keeping this in mind

TIAAN CONSUMER LIMITED delivers value and commitment based on highest professionalstandards.

C. FINANCIAL PERFORMANCE:

The Company has achieved a turnover of Rs. 29,03,186/- during the year with Profit/Loss after tax ofRs. (31,90,611). The Companys income from operations primarily includes income from trading anddistributions of financial products such as Interest income from Inter-Corporate Loan and Long-TermInvestments. The Company has incurred a Net Loss of Rs. (31,90,611) during the year. The Directorsare optimistic about future performance of the Company.

D. OPPORTUNITIES & THREATS:

Opportunities

1. Increase in Income levels will aid greater penetration of financial products.

2. Positive regulatory reforms.

3. Increase in corporate growth & risk appetite.

4. Greater efficiency in debt market operations which will also help greater penetration.

5. Increased securitization.

6. Focus on selling new product/services.

Threats

Inflation could trigger increase in consumer price inflation, which would dampen growth. IncreasedCompetition in both local & overseas markets. Unfavourable economic development.

Market risk arising from changes in the value of financial instruments as a result of changes inMarket variables like interest rate and exchange rates.

E. RISK MANAGEMENTAND CONCERNS:

The company operates in the Financial Services Sector, which is affected by variety factors linkedto economic development in India and globally which, in turn, also affected global fund flows.Any economic event across the globe can have direct or indirect impact on your company. Tomitigate this, Company has diversified its revenue stream across multiple verticals.

The companys risk management system is a comprehensive and integrated framework comprisingstructured reporting and stringent controls. Through its approach it strives to identify opportunitiesthat enhance organizational values while managing or mitigating risks that can adversely impactthe companys future performance. Within the organization, every decision taken is after weighingthe pros and cons of such a decision-making taking note of the risk attributable.

The company has established a guideline to inform board members about the risk assessment andmitigation process. The Company manages, evaluates, and reports on the major risks anduncertainties that may jeopardize its ability to meet its strategic goals. The Companys RiskManagement Policy focuses on identifying, assessing, and managing risks related to theCompanys assets and property, Employees, Foreign Currency Risks, Operational Risks, and Non-compliance with statutory enactments, Competition Risks, and Contractual Risks.

F. HUMAN RESOURCE:

The Company holds its skilled and trained workforce in high esteem, recognizing them asindispensable for achieving organizational goals. A commitment is made to not only maintain butalso enhance their capabilities, ensuring they remain aligned with the ever-evolving technologicallandscape. During the year under review, the Company undertook a variety of training initiativescovering a wide spectrum of topics. These encompassed technical competencies crucial for operational excellence, programs aimed at fostering positive behavioural traits, workshopsfocusing on enhancing business acumen, as well as both general and advanced managementprinciples. Leadership training was provided to cultivate effective decision-making and teammanagement skills. Customer-centric training was prioritized to uphold service standards, whilesafety protocols were reinforced to ensure a secure work environment. The Company emphasizedthe importance of values and ethical conduct, instilling a sense of integrity and responsibilityacross all levels of the workforce.

G. MATERIAL DEVELOPMENT IN HUMAN RESOURCES / INDUSTRIAL RELATIONFRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED:

The employees are satisfied and having good relationship with the Management. Your Companyvalues each employee, supports them, and strives to provide opportunities based on their skill sets,resulting in mutually beneficial relationships between the company and its employees. YourCompany has developed a policy that increases employee job satisfaction while simultaneouslyincreasing production.

H. INTERNAL CONTROL SYSTEMS

Your Company has an internal control system that is suitable to the characteristic and scale of itsoperations and that efficiently and efficiently addresses all aspects of the business and functionaldepartments.

The framework encompasses a compliance management team with established policies, norms,and procedures, as well as applicable statutes, rules, and regulations, as well as an inbuilt system ofchecks and balances, to ensure that appropriate and prompt corrective actions are taken in theevent of any discrepancies from the defined standards and parameters.

Internal control systems are examined on a regular basis for effectiveness and deliverability, sothat any necessary precautions to reinforce them can be undertaken in response to changingcompany requirements. Your Company conducts ongoing reviews of its systems, procedures, andcontrols, comparing and aligning them with industry standards.

I. DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND SENIORMANAGEMENT PERSONNEL WITH THE COMPANYS CODE OF CONDUCT:

This is to confirm that the Company has adopted a Code of conduct for its employees including thedirector.

I confirm that the Company has in respect of the financial Year ended 31stMarch, 2024, receivedfrom the Senior Management team of the Company and the members of the Board, a declaration ofCompliance with the code of Conduct as applicable to them.

J. DISCLOSURE OF ACCOUNTING TREATMENT

The financial statements of the Company have been prepared in accordance with the GenerallyAccepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standardsnotified under Section 133 of the Companies Act, 2013 ("the 2013 Act") and the relevantprovisions of the 2013 Act, as applicable. The financial statements have been prepared on goingconcern basis under the historical cost convention on accrual basis.

The Company has opted to continue with the period of 1st day of April to 31stday of March, eachyear as its financial year for the purpose of preparation of financial statements under the provisionsof Section 2(41) of the Companies Act, 2013.

K. CAUTIONARY STATEMENT

The management discussion and analysis report containing the Companys objectives, projections,estimates and expectation may constitute certain statements, which are forward looking within the meaning of applicable laws and regulations. The statements in this management discussion andanalysis report could differ materially from those expressed or implied.

Important factors that could make a difference to the Companys operation include raw materialavailability and prices, cyclical demand and pricing in the Companys principal markets, changesin the governmental regulations, tax regimes, forex markets, economic developments within Indiaand the countries with which the Company conducts business and other incidental factors such aschanges in the governmental regulations, tax regimes, forex markets, economic developmentswithin India.

By order of Board of Directors of
Tiaan Consumer Limited
	SD/-	SD/-
Date: 11.12.2024	Munesh Kumar	RaghavGujral
Place: Delhi	Director	Managing Director
	DIN: 09698731	DIN: 09688181