Zodiac-JRD-MKJ Ltd Management Discussions.

Forward Looking Statements: Forward looking statements are based on certain assumptions and expectations of future events. The company cannot guarantee that these assumptions and expectations are accurate or will be Realized. The Company’s actual performance or achievements could thus differ materially on 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.

Overall Review: During the nancial year under review the Sales have down from Rs. 2023.91 Lacs to Rs.1608.99 Lacs, Other Income decreased from Rs.37.01 Lacs to Rs.30.32 Lacs. Company’s Net pro t before extra ordinary items decrease by 15.52 % from Rs.77.13 Lacs to Rs. 65.17 Lacs. Earning per share decreased from Rs. 1.49 to Rs. 1.21.

Risk & Concern: Risk is intrinsic to any business and is essential ingredient to growth. Your company is exposed to foreign exchange risk due to volatility in foreign exchange rate having an impact on exports business Company is dealing with the reputed clients in overseas market & taking maximum precaution before supplying material.

Internal Control: The company has an extensive system of internal controls which ensures optimal utilization and protection of resources, accurate reporting of nancial transactions and compliance with applicable laws regulations as also internal policies and procedures. The internal control system is supplemented by extensive internal audits, regular reviews by management and well documented policies and guidelines to ensure reliability of nancial and all other records to prepare nancial statements and other data.

Outlook for Future: It is expected that the steps taken by the Company in the recent year have increased the turnover of the company, coupled with promising outlook for the business the company is engaged in, will translate into a healthy performance for the company. Barring unforeseen circumstances, the company expects to continue to report satisfactory performance in the future.