KEN FINANCIAL SERVICES LIMITED
ANNUAL REPORT 2010-2011
MANAGEMENT DISCUSSION AND ANALYSIS
Company's Financial Review
During the year under review, the income from operation of the Company is
Rs. 99.09 Lakh as compared to Rs. 170.81 Lakh earned during the previous
year and has earned profit after tax of Rs. 4.35 Lakh as compared to 17.61
Lakh earned during the previous year. Due to fluctuating market condition
the Company's profit earning declined in comparison to previous year.
Industry Structure and Development
The global economic conditions remained subdued during the previous year.
There was volatile movement of prices in the commodity market. However,
increased liquidity in the developed economies is impacting sentiments and
boosting consumption as well as investment. The situation is improving and
we are hoping for good investment environment in the country. The company
is trying to keep up with the pace of growth of the Indian market. The
company is building various earning platform for the forthcoming year to
come out with flying colour.
Resources & Liquidity
Company has invested the liquid resources in Inter Corporate Deposits to
earn interest income wherever it was considered appropriate.
Risk, Internal Control System and Adequacy
The company has adequate internal control procedure commensurate with its
size and nature of the business. The internal control system is
supplemented by extensive internal audits, regular reviews by the
management and well documented policies and guidelines to ensure the
reliability of financial and all other records to prepare financial
statements. The company continuously upgrades these systems in line with
best accounting practices. The company is benefited from having a team of
professionals as promoter and independent directors, who are capable of
exercising various checks and control effectively.
Environment, Health and Safety
Environment, Health and Safety (EHS) is one of the primary values of your
company. Your company's EHS policy is to consider compliance to statutory
EHS requirements as the minimum performance standard and is committed to go
beyond and adopt stricter standards wherever appropriate. Your company also
gives priority and attention to the health and safety of its employees and
trains all the employees to work as per prescribed procedures designated to
meet all EHS requirements.
Human Resource Development
Human Resource is one of the key assets that has been nurtured and
encouraged for active participation in company's growth. The company has
well defined appraisal system in pace for recognition of talented and
deserving employees, whose includes line and staff function personal. The
industrial relations remained cordial during the year. The company has
never faced any staff unrest or any discomfort in relations with its staff
due to the professional approach of the management towards this factor.
The statements in this report including Management's Discussion and
Analysis report reflects Company's projections estimates, expectations or
predictions and contain forward looking statements that involve risks and
uncertainty. The Company and the Management shall not be held liable for
any loss, which may arise as a result of any action taken on the basis of
the information contained herein. Readers are cautioned not to place undue
reliance on these forward looking statements that speak only of the
expectations as on that date.