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.

Along with this noticeable acceleration in the growth rate of the Indian economy, Indias per capita income has increased at a rapid pace, levitating India into the middle-income category thus strengthening the economy even further from its roots. Simultaneously, the rising consumer demand has provided a further growth avenue for Indian rms making the domestic economy more robust.

However, while the long-term story remains positive, there are challenges in the short-term that will need to be addressed. These include high in ation, rising commodity prices, all time high oil prices, increasing scal de cits, global uncertainties and a variable domestic political scenario. However, given the structural shifts that have already taken place across the economy, we believe that we today stand on a strong foundation that will support sustained growth despite the shortterm challenges that may emerge time and again.

On the other hand, our Management declares that, the nancial 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 Overview:

The company with its full capacity has commenced the business operations in food industry business through its whole owned subsidiary and lunched its products under Funstar Brand. The Indian food industry is poised for huge growth, increasing its contribution to world food trade every year. In India, the food sector has emerged as a high-growth and high-pro t sector due to its immense potential for value addition, particularly within the food processing industry.

Company has also been carrying its pharmaceutical business through its subsidiary, The Indian pharma industry, which is expected to grow over 15 per cent annum between 2015 and 2020, will out perform the global pharma industry, which is set to grow at an annual rate of 5 per cent between the same period. The market is expected to grow to US$ 55 billion by 2020, thereby emerging as the sixth largest pharmaceuticals market globally by absolute size, as stated by Mr. Arun Sing, Indian Ambassador to the US. Branded generic dominate the pharmaceuticals market consulting nearly 80 per cent of the market share (in terms revenues).

The interest of investors in real estate sector remains high, especially in rent yielding commercial properties. Transactions continue in the residential segment through investors are now using structures such as debt or debt-like hybrid instruments and bulk unit purchases, instead of equity investments to better secure their interests. The use of debt/hybrid instruments is a concern, as it only shifts the funding gap to the redemption date with high funding costs.

The relaxation of thresholds of the foreign direct investment in real estate projects is likely to improve fund in ow. The announcement of the guidelines for the introduction of real estate investment trusts and the clarification of tax pass-through status for such vehicles are also positive for the sector, as they improve fund availability to companies owning rent-yielding assets.

OUTLOOK:

The future of India Snacks Market can be judged from the fact that this industry is expected to grow with double digit CAGR for the time frame of 2018 to 2024. India snacks market is divided between organized players and unorganized market. At present Unorganized market is dominating the India snacks market. But this scenario is expected to change during the forecast period of 2018-2024.India Snacks Market is growing due to following factors lifestyle changes, rising urbanization growing middle class population, Local availability and availability of Snacks in Small Package size low price and companys strategies to focus on regional taste. The Indian pharmaceuticals market is the third largest in terms of volume and thirteen largest in terms of value, as per report by Equity Master. India is the largest provider of generic drugs globally with the Indian generics accounting for 20 per cent of global exports in terms of volume. of late , consolidation has become an important characteristic of the Indian pharmaceutical market as the industry is highly fragmented.

The pharmacy sector forms the second largest share in the Indian healthcare sector. The sector sources its products through institutional and non institutional sales. The institutional sales is the sale of pharmaceuticals to hospitals, nursing homes and other such health institutions that purchase bulk drugs at discounted prices that results in partial decline in profit margin of manufacturers. Whereas, non institutional sales takes place through retail stores that happen to be the only form of sales channel that reaches directly to consumers and is a major source of revenue earning for the sector.

HUMAN RESOURCES:

The Company recognizes that its people have played a big role in making what the Company is today and therefore it accords top priority to attract and retain talent. The Company puts great emphasis on training and development of its employees to enhance ef ciency. The Company believes in providing a fair compensation in line with industry norms and rewards them for good performance.

RISK 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 rms 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.

PERFORMANCE EVALUATION OF NON-EXECUTIVE AND INDEPENDENT DIRECTORS:

The Board evaluates the performance of Non-executive and Independent Directors every year. All the Non-Executive and Independent Directors are eminent personalities having wide experience in the eld of business, industry and administration. Their presence on the Board is advantageous and fruitful in taking business decisions.

INTERNAL AUDIT SYSTEM:

During the year the Company had appointed M/s. PCN & Associates, Chartered Accountants as internal auditors to the Company an external audit rm of Chartered Accountants, who submits reports on quarterly basis. The reports are placed before the Audit Committee and comments and suggestions made by the internal auditors are noted and implemented by the 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.