Industry Structure and Development:

The Company is in automotive gears and allied products industry; it has registered a steady growth over a period of years. The trend has been upward and gives an indication of bright future. Government announcement of reduced excise duty on vehicles in last budget helped in improving the market sentiments. In line with market developments, the company is also expanding its market by adding more products in its product range.

Review of Operations:

Operations of the company have been satisfactory despite of sluggish and weaken market conditions brvailing in the types of industry in which the company belongs and more particularly described in Directors’ Report.

Future Plans and Outlook:

Automotive market is on up swing and registering a steady growth. The outlook appears bright.

Segment wise Performance:

The company is engaged in manufacturing of automotive parts as well as trading thereof with allied activities. The performance is reflected in the Balance Sheet and Profit and Loss Account.

Risk Factors:

The product is influenced by the major changes in Govt. policy.

Financial Performance:

Financial performance is forming part of the Directors Repot.

Human Resources/industrial Relations:

Your company considers its human resources as its most valuable assets, among all other assets of the company. it has been the policy of the company to promote the talent by providing opportunities to develop themselves within the organization. The company continued to have very cordial and harmonious relations with its employees.

Internal Control System and Adequacy:

Your company has been maintaining an adequate internal control system commensurate with the size and nature of its business.

By Order of the Board

For G. G. AUTOMOTIVE GEARS LIMITED

RAM GAJRA (DIN 02092248)

Chairman

Place: Mumbai.

Date: 13th August 2015