MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS:
The Infrastructure Industry in India have been experiencing a rapid growth in itsdifferent verticals with the development and urbanization leading to increasing interestshown by foreign as well as domestic investors and infrastructure players in this field.The Indian government has taken initiatives to develop the infrastructure sector, withemphasis on construction, engineering, IT, entertainment, food and utility to name some.
Your Company is currently engaged in the areas of taking up infrastructure developmentprojects like construction of roads, bridges and to take up, develop various civilinfrastructure development works. The name of the Company was changed to Wagend InfraVenture Limited, in order to bring it in line with the present business activities of theCompany. After take over by new management the Company is continuously focusing to developin the infrastructure space and had taken up contracts in the infrastructure space. Themanagement of the Company is building up the team to take up new the more Projects fordevelopment and increase the value of the stakeholders.
FINANCIAL AND OPERATING PERFORMANCE:
The total income of the Company for the financial year 2011-12 was at Rs 2634.52 lakhscompared to Rs.856.21 lakhs during the previous year. The Net Profit for the Company hasalso increased to Rs 100.05 lakhs during the year as against Rs. 46.60 lakhs for theprevious year. The Company expects to earn increased revenues in the near future.
The timely availability of skilled and technical personnel is one of the keychallenges. The Company maintains healthy and motivating work environment through variousmeasures. This will help the Company to retain and recruit skilled work force resulting inthe timely completion of the projects.
RISKS, INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has adequate internal control procedure commensurate with its size andnature of the business. The internal control system is supplemented by extensive internalaudits, regular reviews by management and well-documented policies and guidelines toensure reliability of financial and all other records to prepare financial statements. TheCompany continuously upgrades these systems in line with best accounting practices.
ABILITY TO HIRE, TRAIN AND RETAIN PEOPLE
Human Resources are important asset of any business. Skilled and technical staff isrequired by us for our project. We take up various projects based on availability of rightmix of man power. Thus our growth is likely to be affected by our ability to attract andretain skill and technical manpower. Our Ability to hire, train and retain people willdetermine the ability of our company to achieve desired objectives.
Statements in the Management Discussion and Analysis describing the Companysobjectives, projections, estimates, expectations may be "forward lookingstatements" within the meaning of applicable securities, laws and regulations. Actualresults could differ materially from those expressed or implied. Important factors thatcould influence the Companys operations include economic developments within thecountry, demand and supply conditions in the industry, input prices, changes in Governmentregulations, tax laws and other factors such as litigation and industrial relations.