Ashoka Refineries Ltd Management Discussions

Management Discussion and Analysis as required under Regulation 34 of SEBI (LODR) Regulations, 2015 read with Schedule-V of the said Regulations, forms part of this Boards Report as follows:

FORWARD- LOOKING STATEMENT

This report contains forward-looking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realized. The Companys actual results, performance or achievements can thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.

INDUSTRY STRUCTURE AND DEVELOPMENTS AND BUSINESS OVERVIEW

Company is mainly engaged in trading of goods. The Directors and KMPs aim to further take forward the business and expand the business barring any unforeseen circumstances. During the year under review, Your Company has witnessed company has recorded a turnover of Rs. 1.90 Crores as compared to Rs.2.31 Crores and a net profit of Rs. 8.86 Lakhs as compared to Rs. 18.38 Lakhs.. Your directors are making continuous efforts and are hopeful that growth shall continue in the current year barring any unforeseen circumstances.

SEGMENT WISE REPORTING

During the year under review, Company is working in a single segment and thus segment wise report is not required.

SWOT

Our strength is our determination, weakness is the low equity base, opportunities are multiple s and threat is small level at which company operate.

RISK AND CONCERNS

In any business, risks and prospects are inseparable. As a responsible management, the Companys principal endeavor is to maximize returns. The Company continues to take all steps necessary to minimize losses through detailed studies and interaction with experts.

INTERNAL CONTROL

The Company has an internal control system, commensurate with the size of its operations, adequate records and documents were maintained as required by laws. The Companys audit Committee reviewed the internal control system. All efforts are being made to make the internal control system more effective.

THE FINANCIAL HIGHLIGHTS ARE AS UNDER:-

INDUSTRIAL RELATIONS:

There is no change in nature of the business of the company. The Management of the Company is cordial with each other and terms of company in the industry remain cordial with other players on the market.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS, ALONG WITH DETAILED EXPLANATIONS

The Key financial ratios are given below. Further there being significant change i. e. change of 25% or more as compared to the immediately previous financial year therefore such explanation given below.

Balance Sheet financial year. (Average Total Assets) Interest Earning for Interest service NA NA NA NA Coverage interest Ratio service

Operating Operating Revenue from 3.90% 6.75% (42.21) Decline in Op. Profit Profit Margin Profit Operations margin is because of decrease in net profit during the current financial year.