Management Discussion and Analysis reports

a. Industry Structure &Development :

The Company's business relates to database creation (E-Publishing) pertaining to Information technology enabled services. This includes creating large volume full text, image based databases.

b. Opportunity, Threats and Outlook Risk & Concerns

The large size of the addressable global market, with relatively low current level of penetration suggests significant headroom for future growth. The Company has positioned itself well for the growth in business with an aligned strategy, structure and capabilities.

c. Segment/Product wise performance :

The company's operation falls under single segment namely "Computer Software and Services Exports", therefore segment wise performance is not furnished.

d. Internal control systems and their adequacy :

The company has an effective internal control system in place and this is periodically reviewed for its effectiveness. There are well defined Power and Authority limits to ensure that assets of the Corporate Policies. The company has a cross -functional internal Audit team with br-determined roles, responsibility and authorities. The team ensures an appropriate information flow and effective monitoring. The company has appointed Shri Dipak Dave, who is having more than 22 years of experience in the Audit and Taxation related matters, as an internal auditor for the better control and compliance. The finding and recommendations of the Team are reviewed by the Audit Committee periodically.

e. Discussion on financial performance with respect to operation performance:

The Financial Performance of the company, during the year under review, has been given separately in the Directors' Report.