MANAGEMENT DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENT
Global Economic recession has affected growth in the economic activity in varioussectors of the economy and accordingly has compelled company to survive alongside thedwindling economic activity. Barring unforeseen circumstances, the company would be ableto achieve its financial objectives without much of constraints.
OPPORTUNITIES, THREATS, RISKS AND CONCERNS
There exists abundant opportunities for growth. However, slow down of market activityand cut throat competitions coupled with changes in the policies of the government are theareas of concern. However with the experience and expertise of the management, the companywould withstand competition and convert threats in to opportunities.
SEGMENTWISE / PRODUCTWISE PERFORMANCE
The Company has currently only one segment in line with the Accounting Standard onSegment Reporting (AS-17).
INTERNAL CONTROL SYSTEM AND ADEQUACY
The company has adequate system of internal control in place. This is to ensure thatassets are safeguarded and all transactions are authorized, recorded and correctlyreported. The internal audit function is empowered to examine the adequacy, relevance andeffective control system, compliance with policies, plans and statutory requirements. Thetop management and the Audit Committee of the Board review the findings and recommend tothe Board for improvement on the same.
We are confident that in Financial Year 2012, we should again see a healthy growth bothin the turnover and the order book. We indeed are back on growth track.
The financial performance of the company has been given in detail separately inDirectors report.
This report contains forward-looking statements, which may be identified by their useof words like plans, expects, will,anticipates, believes, intends, projects,estimates or other words of similar meaning. All statements that addressexpectations or projections about the future, including, but not limited to statementsabout the Companys strategy for growth, product development, market position,expenditures, and financial results, are forward-looking statements. Forward-lookingstatements are based on certain assumptions and expectations of future events. The Companycannot guarantee that these assumptions and expectations are accurate or will be realized.The Companys actual results, performance or achievements could thus differmaterially from those projected in any such forward-looking statements. The Companyassumes no responsibility to publicly amend, modify or revise any forward-lookingstatements, on the basis of any subsequent developments, information or events.