MANAGEMENT DISCUSSION AND ANALYSIS
The company is engaged in Research and Development in the field of Agri-Biotechnology.Activity of the Company is Trading in Wormi Compose (Bio Fertilizers).
During the year Gross turnover of the company was Rs. 24,61,000/- as compared to Rs.42,98,800/- last year. Company has earned a net profit of Rs. 1,05,356/- for the yearended on 31st March, 2010 as compared to net profit of Rs. 13,83,727/- for the previousyear ended on 31st March, 2009.
RISK AND CONCERN
There are no risks and concerns other than the fluctuation in the global economy.
MATERIAL DEVELOPMENT IN HUMAN RESOURCE
The Company will be investing appropriately with focus on customer centricity, humanresources will be focused on optimum employment engagement and the talent will bestrengthened vis-a -vis the performance.
INTERNAL CONTROL SYSTEMS
The Company has in place adequate internal control systems and procedures covering allthe financial and operating functions. These have been designed to provided adequateassurance to the management regarding compliance with the accounting standards bymaintenance of appropriate accounting records, monitoring the economy and efficiency ofoperations, protecting the assets of the Company form losses and ensuring the reliabilityof financial and operational information though proper compliance with the statutoryenactments and its rules and regulations. Some of the significant features of the internalcontrol systems and procedures are as follows:
Appropriate delegation of authority limits with responsibility incurring capitaland revenue expenditures.
Approval and monitoring of annual revenue budget for all operating and servicefunctions.
Procedure for approval of capital budget proposals and monitoring theexpenditure on such acquisitions.
Formulating and reviewing the annual and long-term business plans.
A comprehensive code of conduct for ensuing the integrity of financialreporting, ethical conduct, regulatory compliances and conflict of interest, if any.
Review of the operations and financial plans in key business areas throughmonthly management meetings.
Appointment of and independent experienced accountant for conducting internalaudit for reporting to the management and the Audit committee, the adequacy and compliancewith the internal controls and efficiency and effectiveness of operations.
The Audit Committee of the Board of Directors' which is reviews the finding of theinternal audit, adequacy of internal controls, compliance with the accounting standards,as well as recommends to the Board the adoptions of the quarterly and annual results ofthe company and appointment of auditors. The Audit Committee also reviews the relatedparty transactions, entered into by the company during each quarter.
As the company is not in the field of manufacture, the matter relating to produce anyharmful gases and the liquid effluents are not applicable.
Statement in this report on Management Discussion and Analysis may be forward lookingstatements within the meaning of applicable security laws or regulations. These statementsare based on certain assumptions and expectations of future events. Actual results couldhowever, differ materially, from those expressed or implied. Important factors that couldmake a difference to the company's operations include global and domestic conditions. Andchanges in government regulation and tax structure, economic development within India andthe countries with which the company has business contacts and other factors such aslitigation and industrial relations.
The Company assumes no responsibility in respect of forward - looking statements, whichmay be amended or modified in future on the basis of subsequent developments, informationor events.