Tirupati Tyres Ltd Management Discussions.

Your Directors have pleasure in presenting the management discussion and analysis report for the year ended on March 31, 2019. The Management Discussion and Analysis have been included in consonance with the Code of Corporate Governance as approved by The Securities and Exchange Board of India (SEBI). Investors are cautioned that these discussions contain certain forward looking statements that involve risk and uncertainties including those risks which are inherent in the Companys growth and strategy. The company undertakes no obligation to publicly update or revise any of the opinions or forward looking statements expressed in this report consequent to new information or developments, events or otherwise.

The Management of the Company is presenting herein the overview, opportunities, threats and initiatives by the Company and overall strategy of the Company and its outlook for the future. This outlook is based on Managements own assessment and it may vary due to future economic and other future developments in the country.


The domestic automotive industry is witnessing a gradual recovery in 2019-20 following two years of demand slowdown because of weak economic activity, rising inflation, poor consumption and tight liquidity constraints.


The highlight of the financial performance of the Company during the year ended 31st March, 2019 have been stated in the Directors Report for the year ended 31st March, 2019, which appear separately in the Annual Report.


The growth of the Company is subject to opportunities and threats as are applicable to the industry from time to time. The Company has risk management policy in place for risk assessment and treatment of the same. The company does not foresee any major threats to its growth and market share in the coming years. The existing capacity should take care of the companys requirement.


The Company is mainly exposed to market risk (including liquidity risk), interest risk and credit risk. While risk is an inherent aspect of any business, the Company is conscious of the need to have an effective monitoring mechanism and has put in place appropriate measures for its mitigation including business portfolio risk, financial risk, legal risk and internal process risk.


The company has a system of documenting and reviewing risk. The Audit Committee has additional oversight in the area of financial risks and controls. The Company has a sound internal control system. All transactions are subject to proper scrutiny. The Management takes immediate corrective action wherever it is being pointed out to help streamline the internal control process.


During the year under review, HR continued to undertake initiatives towards development, enhancement and retention of workforce. Your Company strongly believes that employees are central to the Companys transformation agenda and that it is important to build capabilities of employees to handle both current and future needs. During the year, the Company worked extensively on identifying the needs of employees across all categories and level. The Company has built a young and vibrant team of qualified and competent professionals to meet the emerging business challenges and market competition.


Statement made herein describing the Companys expectations is "forward looking statement." The actual results may differ from those expected or predicted since the Companys operations are influenced by many external factors which are beyond the control of the Company. Prime factors that may make difference to the Companys performance include market conditions, economic conditions, Government regulations and Tax Laws, Political situation etc over which the Company does not have any direct control.


During the year the Company has not entered into any transaction of material nature with its promoters, the directors or the management, their subsidiaries or relatives etc, if any, that may have potential conflict with the interest of the Company at large. All details of transaction covered under related party transaction are given in the notes to account.