Western Ministil Ltd Management Discussions

a. Industry structure and developments.

As shareholders are aware that the Company did not undertake any activity / operations, which continues to remains at a standstill since 1995. The day today expenses were being met by liquidating certain non-productive assets of the Company. The Company is looking at various business options to overcome the liquidity crisis.

b. Opportunities & Threats:

As explained above since there is no activity / operation, presently the Board of Directors do not foresee any major threat to the Company.

c. Segment-wise or product-wise performance.

The Company is not carrying any manufacturing operations. Please refer Directors Report for details. As such, Key financial ratios like Debtors Turnover, Inventory Turnover, interest coverage ratio, Debit Equity ratio etc. is not applicable.

d. Outlook

The company continues to explore various options to maintain its current state of affairs.

e. Risks and concerns.

The Company being non-operative, there are no major risks which may have major impact on the Company. Risks and concerns related to finance, taxation, compliance etc. are being managed adequately and efficiently by the Board / Committee of Directors of your Company.

f. Internal control systems and their adequacy.

The Company has internal control system commensurate with its size and nature of business, to ensure that all assets are safeguarded and protected against unauthorised use and that all transactions are authorised, recorded and correctly reported.

g. Discussion on financial performance with respect to operational performance.

The Company is not carrying any manufacturing operations. Please refer Directors Report for details. As such, Key financial ratios like Debtors Turnover, Inventory Turnover, interest coverage ratio, Debit Equity ratio etc. Is not applicable.

h. Material developments in Human Resources / Industrial Relations front, including number of people employed.

The Company recognizes human resources as its biggest strength which has resulted in getting acknowledgement that the Company is the right destination where with the growth of the organization, value addition of individual employees is assured. The total number of employees as on 31st March, 2025 is NIL.