Trijal Industries Ltd Management Discussions.

KEY ECONOMIC AND INDUSTRY TRENDS:

Due to COVID-19 pandemic, since 2019 severely affected the world’s economic, social and health infrastructures, which adversely impacted the worlds’ economic output. Several developed and developing countries had to undergo lockdowns to control the COVID-19 pandemic, which led to major disruptions across all sectors throughout world, such as manufacturing, Trading, construction, logistics, aviation, hospitality, tourism and various service providing industries as well. As per IMF’s April 2021 World Economic Outlook report, in 2020 the global economy contracted severely. The Indian economy too had to suffer with major impact on economy coming from the national lockdown during the first quarter and below normal economic activity in rest of the quarters. However, the advent of vaccines and adaptability against COVID-19 means that the global economy is expected to witness a strong rebound with an expected growth in output. Indian economy too is expected to return to growth.

CHANGE OF MANAGEMENT AND CONTROL:

The erstwhile promoters were unable to cope up with the impact of COVID -19, decided to stake of their stack in the company and give away the control of the company to New promoters and management in the interest of the company’s future as well the future of our esteemed share-holders and investors, who have trusted the old management throughout all this years since inception of the company even though losses in the company. The old management took the decision to give control to new strong and efficient management to take the company to a new high with the great increase in the wealth of our investors and shareholders and also to contribute in the development of the economy of the country.

THE NEW MANAGEMENT:

The New management based in Kerala and very famous Al-Salama Group of Companies, running the Business of Medicine, Eye Hospitals, Research Foundation, Promoting Education in medicine in management studies in south India. The new Promoters Consist of Dr. Adv. A SAMSUDEEN, Dr. MUHEMMED SWADIQUE, Dr. MUSALLYARAKATHARAKKAL SAFARULLA, AL SALAMA EYE RESEARCH FOUNDATION, a Trust incorporated on October 15, 2004, , India represented by Mr. Adv A Samsudeen and Dr. RAJESH P.

The new management has the back ground of managing eye hospitals and educational institutions in Kerala and Tamil Nadu. Presently they are successfully running multiple well equipped eye hospitals and Optical retail showrooms/outlets and many educational institutions. The new management team comprises of medical professionals and business experts in eye care business for nearly two decades. They are planning to expand their business in different parts of country under Trijal aiming exponential growth of the company in the coming years.

CONTINUITY OF BUSINESS:

Continuity is essential for sustenance and the new promoters has already established a sound strategy. This would provide greater confidence in our Investors, Stake Holders and our future Customers. Our goal is to achieve overall plant efficiency. Identification of waste across the value chain and eliminating it by improving product quality, service levels, productivity, planning and yields is integral to our approach. To bring about a cultural, Social and Economic change across the organisation with "quality first" management program. There will be high level of commitment from each team member across the organization.

ENVIRONMENT HEALTH AND SAFEty

The Company’s operations would spread across different geographical regions and would be subject to a wide range of laws and regulations for Environment health and safety. Any failure to procure, renew or maintain the required permits or approvals or any violations may result in substantial fines or penalties, the imposition of other civil or criminal sanctions, clean-up costs, claims for personal injury or property damages, restrictions on or the suspension of our operating permits or activities. Any such violation may also lead to interruption of our operations and may have adverse effect on the Company’s financial condition, results of operations and profitability.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

Corporate Social Responsibility (CSR) is an imperative part of our framework for sustainability. All CSR activities are in accordance with the provisions of Section 135 read with Schedule VII to the Act and are implemented through our Al SALAMA Research Foundation, the social development segment of AL SALAMA Group. Our Company’s vision is to create a positive impact on society through strategic multi-stakeholder engagement and bring about a ‘social change’ involving knowledge generation and sharing, experiential learning and entrepreneurial ecosystem.

INTERNAL CONTROL SYSTEMS AND RISK MANAGEMENT:

Risk-taking is an inherent part of any enterprise. It’s a very famous quote " If there is no risk There is No Profits.". It is essential for growth or creation of wealth in a company. At the same time, it is important that the risks are properly managed and controlled, so that the Company can achieve its objectives effectively and efficiently. Section 134(5)(e) of the Companies Act, 2013 requires a company to lay down Internal Financial Controls system and to ensure that it is adequate and operating effectively. Internal Financial Controls means the policy and procedures adopted for ensuring the orderly and efficient conduct of its business. The above requirement has the following elements: Orderly and efficient conduct of the business Safeguarding of its assets Adherence to Company’s policies Prevention and detection of frauds and errors Accuracy and completeness of the accounting records and timely preparation of reliable financial information. We also have to establish process controls which cover a wide range of key operating, financial and compliance related areas like Accounting, Internal Control on processes such as - Order to Cash, Procurement to Payment, Inventory and Production, Fixed Assets, Direct and Indirect Tax, Research and Development (R&D) and Information Technology General Controls. The financial information would be verified by the statutory auditors and Internal Auditors on a periodic basis as per the requirements of Companies Act, 2013, Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Listing Regulations’), Institute of Chartered Accountants of India (ICAI) guidelines, etc.

OPPORTUNITIES / OUTLOOK:

Since your Company is doing exercise to diversify into new businesses with new management company has changed the main clause of the company and the same is incorporated in resolutions to be passed passed in this years AGM. Your Directors expect better future outlook. As members are aware that Industrial and manufacturing activities is developing very fast, there is huge potential which is untapped.

THREATS:

The major threats to business activities will be continuous changes and lots of competition in the field from other Players & manufacturers and so all new developments become obsolete with in very short time. Further the company has to do activities with very thin margin, but very huge in quantity.

HUMAN RESOURCES POLICIES:

The Company had strong belief in Human Resources & accordingly policies are drawn from time to time.

CAUTIONARY STATEMENT:

Statements in the Annual Report, particularly those, which relate to Management Discussion and Analysis, describing the Company’s projections, estimates and expectations, may constitute future-looking statements within the meaning of applicable laws and regulations. Although the expectations are based on reasonable assumptions, the actual results might differ significantly. For and on behalf of the Board of Directors

Dr. Adv. A. Samsudden

(DIN: 01812828)

Chairman & Non-Executive Director

Place: Kerala

Date: 28- 08-2021