Mitshi India Ltd Management Discussions

Compliance with Code of Business Conduct and Ethics

As provided under Regulation 34(3) of SEBI (LODR) regulations, 2015, the Board Members and the Senior Management Personnel have confirmed compliance with the Code of Conduct and Ethics for the year ended March 31,2023.

Forward-Looking Statements

This report contains forward-looking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realised. The Companys actual results, performance or achievements can thus differ materially from 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.

Business Overview & Marketing

(Discussion On Financial Performance With Respect To Operational Performance.)

I am beholden to each and every one of you, for having respond your trust and confidence in the management and promoters of your company. Your management has never lost hope for a bright future, and your continued patience has been a tremendous support to encourage us to make untiring and strenuous efforts to search for new avenues of business and today, My dear friends, I am very happy to inform you that your company is trying to give much better shape even after COVID19 PANADAMIC situation arise. Your promoters &the Management Group has turned it in to a profit making and income tax paying company during FY 2022 -23 (that is 5TH year)

It was declared by the promoters /Management that days are not far when all and each of you is going to be rewarded for your patience in the form of dividends and capital appreciation too, unless any unforeseen circumstances disturb our plans/operations. Here we submit that continued COVID19 PANDAMIC has created problems and we have to face the same, we are trying to survive this unforeseen event and despite of the same your company is back in performance, timely we have published our view and updated to Investors and shareholders through platform of BSE Ltd

Your company has achieved sales of Rs.771.74 lacs as compared to Rs. .692.20 lakhs of last FY. However, due to sever impact of COVID19 PANDAMIC and reduction in margin on sales as many times the perishable items have to be sold at loss to clear the inventory, your Company could not achieve its desired aim of increase in operating profit, albeit due to finalisation and receipt of old insurance fire claim of Rs.140.50 lakhs , it has managed to generate profits of Rs.68.36 lakhs before tax and Rs.50.45 lakhs after tax and achieved EPS of Rs.0.57 per share as compared to Rs0.01 for the last FY. Your company is trying hard to achieve better results.

Internal Control

The Company has adequate internal control system, commensurate with the size of its operations. Adequate records and documents are maintained as required by laws. The Companys audit Committee reviewed the internal control system. All efforts are being made to make the internal control systems more effective.

OUT LOOK

Management indents to focus more on business of Software during the year besides its regular operations, which we have already planned.

Value Addition

Your company is trying hard and putting up all its resources for Value Addition to its Shareholders and Investors and economy in general.

Future Plans/Guidance

Management agree that some what it has affected companys operation due to COVID19 situation , however your company has

S cSytU* A

started to develop business in software division and further it is trying hard to add products which can generate more profit.

Swot - Nil

Material Developments In Human Resources/Industrial Relations Front, Including Number Of People Employed.

Your company will employ sizable people to look after the various activities and all round development of your company.

Cautionary Statement

Statement in this Managements Discussion and Analysis detailing the Companys objectives, projections, estimates, estimates, expectations or predictions are "forward-looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include global and Indian demand-supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Companys principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations.

	For Mitshi India Limited
	(Kumar V. Shah)
	Chairman & Managing Director
Place : Mumbai	DIN:- 01451912
Date : 16th June 2023