Trimurthi Ltd Management Discussions

This Management Discussion and Analysis Report addresses the expectations and Projections of the company for its future, about its Product Development, Market Position, Market Development and Penetration, Expenditure, Financial Results, Risks and Concerns etc. However, the expectations shared herein are not limited to the Companys Growth. The Companys actual results, performance or achievements could differ from those shared herein.

As India continues to look towards a more advanced and globally renowned pharmaceutical industry, there is no doubt that government policies and actions will play a crucial role in the growth agenda of the sector. As a major global player and exporter of generic drugs and vaccines to the US, Europe, and the rest of the world, Indias pharma industry is a big revenue earner and a major source of needed foreign exchange. Hence, a policy to do even much more is a welcome development. Only with such sustained actions can the Make in India programme and the dream to make the nation the Atma Nirbhar of the world become a reality.

On the other hand, our Management declares that, the financial statements have been prepared incompliance with the requirements of the Companies Act, 2013 guidelines issued by the Securities Exchange Board of India (SEBI) and the Generally Accepted Accounting Principles (GAAP) in India.

INDUSTRY STRUCTURE AND DEVELOPMENTS:

The Fast-moving Consumer Goods (FMCG) sector is the 4th largest sector of the Indian economy. During FY 2019-20, the sector witnessed growth of 7.2%, which is almost half of the 14% growth reported in FY 2018-19. The FMCG sector saw a sharp slowdown during the year on account of moderation in economic activity, low farm incomes and weak rural wage growth, liquidity crunch in the system, high unemployment levels and downtrading across categories. By March 2020, the sectoral growth also dropped. The Corona virus pandemic has further impacted the sector since March 2020 due to restrictions on movement of goods, supply side bottlenecks and impact on consumption. Consumers have been stocking up essential products such as packaged foods, staples, tea, coffee, milk, detergents, and other products of daily usage. During this phase, demand has also surged for health and hygiene products as these aspects came into sharp focus. There was a surge in demand for hygiene products like sanitizers and disinfectants in addition to immunity building OTC and healthcare products. However, discretionary and nonessential items have seen weak demand as the focus during the lockdown has been on food and hygiene.

OPPORTUNITIES AND THREATS:

We believe our strengths give us the competitive advantage to solve the strategic challenges of business.

SEGMENT-WISE OR PRODUCT-WISE PERFORMANCE:

Forms the part of annual report OUTLOOK, RISKS AND CONCERNS:

An effective risk management framework enhances the organizations ability to proactively address its risks and opportunities by determining a risk mitigation strategy and monitoring its progress on continuous basis. Our risk management framework is intended to ensure that risks are identified in a timely manner. We have implemented an integrated risk management framework to identify, assess, prioritize, manage/mitigate, monitor and communicate the risk across the county. Senior management personnel meet at regular intervals to identify various risks, assess, and prioritize the risks. After due deliberations, appropriate strategies are made for managing/mitigating the risks. The company takes the help of independent professional firms to review the risk management structure and implementation of risk management policies. Audit Committee on a quarterly basis, review the adequacy and effectiveness of the risk management strategies, implementation of risk management/mitigation policies, It advises the board on matters of significant concerns for redressal.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The system of internal control has been established to provide reasonable assurance of safeguarding assets and maintenance of proper Accounting Records and its accuracy. The business risks and its control procedures are reviewed frequently. Systems audit is also conducted regularly to review the systems with respect to Security and its Adequacy. Reports are prepared and circulated to Senior Management and action taken to strengthen controls where necessary.

DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

Refer to the Boards report for the summary of the financial performance

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED.

Our employees are our most important assets. We believe that the quality and level of service that our professionals deliver. As at March 31, 2024, the Company employed 8 employees. The key aspects of our HR practice include recruitment, training and development, and compensation.

DETAILS OF CHANGES IN KEY FINANCIAL RATIOS, ALONG WITH DETAILED EXPLANATION THEREOF DETAILS OF SIGNIFICANT CHANGES (I.E. CHANGE OF 25% OR MORE AS COMPARED TO THE IMMEDIATELY PREVIOUS FINANCIAL YEAR) IN KEY FINANCIAL RATIOS, ALONG WITH DETAILED EXPLANATIONS THEREFOR, INCLUDING:

Ratios	As at 31.03.2024	As at 31.03.2023	% of Change	Reasons for variance of above 25%
Debt Equity Ratio	0	0	N/A	N/A
Debt Service coverage ratio	0	0	N/A	N/A
Return on equity ratio	0.022	-0.01	320%	Due to Increase in revenue
Inventory Turnover ratio	0.08	2.08	96.15%	Due to Increase in revenue & inventory
Trade receivables turnover ratio	41. 45	9.68	-328.18%	Due to Increase in revenue & decrease in trade receivables
Trade payables turnover ratio	148.25	61	-143.03%	Due to Increase in revenue & de crease in trade payables
Net capital turnover ratio	1.06	0.34	-213.09%	Due to Increase in revenue & decrease in working capital
Return on capital employed	0.003	-0.01	130%	Due to increase in profit
Return on Investment	0.04	0.04	10.93%	Due to increase in investment

DISCLOSURE OF ACCOUNTING TREATMENT:

The Company has not carried out any treatment different from that prescribed in Accounting Standards. Note: Turnover was reduced because the food business was shifted to Subsidiary Company.

CAUTIONARY STATEMENT:

Statements in this Management Discussion and Analysis Report may be "forward looking statements: within the meaning of applicable securities laws and regulations. These statements are based on certain assumption and expectations of future events. Actual results could differ materially from those expressed or implied. Important facts that could make a difference at the Companys operations include economic conditions affecting domestic demand and supply conditions, finished goods prices, changes in government regulations and tax regime etc. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements on the basis of subsequent developments, information or events.

STATEMENT SHOWING THE NAMES OF TOP TEN EMPLOYEES PURSUANT TO SEC. 197 READ WITH RULE 5 (1) (2) and (3) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014

1. The ratio of remuneration to each director to the remuneration of the employees of the company for the financial year.

Director	Total Remuneration	Ratio to median remuneration
Arun Kumar Bhangadia	2,28,125	1.42
Ravi Bhangadia	1,60,000	1.00
Aditya Bhangadia	1,60,000	1.00

2. The percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year

Name	Designation	Remuneration		Increase/ (Decrease) %
		FY 2023-24	FY 2022-23
Nishitha Kalantri	Company Secretary	1,80,000	1,80,000	--
Vani M	CFO	5,20,000	5,20,000	--

3. The percentage increase in the remuneration of employees in the financial year

Particulars	Remuneration		Increase/ (Decrease) %
	FY 2023-24	FY 2022-23
Remuneration of all the employees per annum*	2,95,000	9,17,750	-67.86%

*Employees who have served for whole of the respective financial years have been considered.

4.

Particulars	Number
The number of employees on the rolls of the company as on March 31,2024	8

5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and details if there are any exceptional circumstances for increase in the managerial remuneration

Particulars	Increase/ (Decrease) %
Average percentage increase in the remuneration of all Employees* (Other than Key Managerial Personnel)	NIL
Average Percentage increase in the Remuneration of Key Managerial Personnel	NIL

* Employees who have served for whole of the respective financial years have been considered.

6. Affirmation that the remuneration is as per the remuneration policy of the company.

The Company is in compliance with its remuneration policy.

s N 0. Name of the Employee	Designation of the employee	Remuneration received	Nature of employment whether contractual or otherwise	Qualification and experience of the employee	Date of commencement of employment	The age of the employee	The last employment held by such employee before joining the Company	The percentage of equity shares held by the employee in the Company within the meaning of clause (iii) of sub rule (2) of Rule 5 of the Companies {Appointment and Remuneration of Managerial Personnel) Rules,2014.	Whether any such employee is a relative of any director or manager of the Company and if so, name of such director or manager
1 Nishita Kalantri	CS	180000	Contractual	CS		32
2 Mani kumar	Office Boy	25000	Contractual	Inter	01-09-2023	33
3 Arun Kumar Bhangadia	Managing Director	228125	Contractual	B.Com	01-10-2015	59		1542200 Equity shares
4 Aditya Bhangadia	Managing Director	160000	Contractual	MBA	01-09-2023	30		165000 Equity shares
5 Ravi Bhangadia	Whole time director	160000	Contractual	B Tech	01-09-2023	35		66333 Equity shares
6 Mohan Rao	Computer operator	228000				48
7 Sanskriti	Marketing	42000		B.Com	1-4-2023	32	Shalimar Agencies Limited
8 Vani Manda	CFO	520000		M.Com	1-4-2014	38	Agrawal Distributors

DECLARATION ON CODE OF CONDUCT AS REQUIRED BY SCHEDULE V OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

I, Venkateshwarlu Pulluru, Whole time Director of Trimurthi Limited ("the Company") hereby state and affirm Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 the members of board of directors and senior management personnel have affirmed compliance with the code of conduct of board of directors and senior management of the company during Financial Year 2023-2024.