MANAGEMENT DISCUSSION & ANALYSIS Your Director are pleased to brsent the Management Discussion and Analysis Reports for the year ended March 31, 2015 as under: Industry Structure: The Indian textile industry is one the largest and oldest sectors in the country and among the most important in the economy in terms of output, investment and employment. The sector employs nearly 35 million people and after agriculture, is the second-highest employer in the country. Its importance is underlined by the fact that it accounts for around 4% of Gross Domestic Product, 14% of industrial production, 9% of excise collections, 18% of employment in the industrial sector, and 16% of the country's total exports earnings. With direct linkages to the rural economy and the agriculture sector, it has been estimated that one of every six households in the country depends on this sector, either directly or indirectly, for its livelihood. A strong raw material production base, a vast pool of skilled and unskilled personnel, cheap labour, good export potential and low import content are some of the salient features of the Indian textile industry. This is a traditional, robust, well-established industry, enjoying considerable demand in the domestic as well as global markets. Opportunities and Threat There is good scope for growth for the textile industry as India's share in the global trade in textiles is weak compared to other countries. The free trade environment is a great opportunity for the Indian textile industry to increase its share in the global market. Chinese exports are slowing down on account of various factors inclusive of increase in domestic demand and rising costs. This is a good opportunity of which our textile industry should make use but smaller countries like Bangladesh, Sri Lanka, Pakistan, Turkey and Vietnam etc. are becoming formidable challengers. Lack of uninterrupted power, increased power costs, higher transaction costs, high cost of labour are hindering the progress. However, we are making all out efforts to cope with all these challenges by continuous efforts at cost reduction, process improvements, diversification of products and improving productivity by improving efficiencies. Business operations: The Company is engaged in the business of Textile industry. During the year under review, the industry faced various challenges due to global and economic slowdown and increasing rates of interest rates. But looking at the huge potential in India for Textile, the company is hopeful of reenter into this sector. The growth in the sector is very good and Management expects better results in forth coming year. The company has been now focusing on the Textile projects in and around the city of Mumbai. During the year, the company witnessed inflow of funds for business expansion plans of the company. Further based on this, the company has once again started its operations and the company looks forward at the future with hope the business of dealers, general order suppliers, contractors, importers, exporters, merchants,stockists, buyers, sellers, growers, agents, brokers, commission agents, and dealers in cotton, jute, tea, coffee, rubber, oil, grains, pulses, seeds, vegetable product, cotton goods, jute goods, textiles, garments ,yarn, synthetic goods, fibrous materials, mill stores, , all kinds of electrical and electronic items, including chandlier, lampshades and other decorative items. and zest which will enhance shareholders value of the Company. Segment-wise or product-wise performance. The Company has only one segment hence no details required to be disclosed under this head Out Look Expectations are high, prospects are bright, but capitalising on the new emerging opportunities will be a challenge for textile companies. Some brrequisites to be included in the globally competing textile industry are: • Imbibing global best practices • Adopting rapidly changing technologies and efficient processes • Innovation • Networking and better supply chain management • Ability to link up to global value chains. The Indian textiles industry has established its subrmacy in cotton based products, especially in the readymade garments and home furnishings segment. These two segments will be the key drivers of growth for Indian textilesIn light of the new and vibrant management of the company and steady growth in the operations of the company and looking at the huge demand for residential as well as commercial space in Mumbai. Internal control System The Company has an adequate internal control system commensurate with the size of the companyand the nature of its business which ensures that functioning of the Company is managed efficiently and effectively, assets are safeguarded, regulatory compliances are complied with and transactions are recorded after appropriate authorization. After constitution of the Audit Committee, Company is confident of that Audit Committee will ensure due internal control procedures pertaining to financial reporting and that they have disclosed to the auditors, and the Board, deficiencies in the design or operation of such internal controls, if any, which they find during their review and the steps to be recommended to the Board for rectification of these deficiencies. Human relations The Company did not have any employee during the year under review and hence, no reporting required under this head. Forward Looking and Cautionary Statements: Management Discussion and Analysis contains forward-looking statements concerning the Company's future plans, strategies, and performance. These forward-looking statements are not historical facts; rather, they rebrsent assumptions and beliefs based on economic, financial, and competitive data currently available. Forward-looking statements include information brceded by, followed by, or that include the words "brdicts," "expects," "anticipates," "could," "may," or similar exbrssions. Furthermore, they are subject to a number of risks and uncertainties that, without limitation, relate to economic conditions, fierce competition in the information service industry, customer demand, tax rules, regulations, and other factors. Readers of this annual report are cautioned not to place undue reliance on these forward-looking statements. The Company therefore wishes to caution readers that actual results may differ materially BY ORDER OF THE BOARD FOR TRIVENI ENTERPRISES LIMITED Sd/- BhavinNagda Director (DINNo.06727240 Place: New Delhi Date: 02nd September 2015, |