ajcon commodity brokers ltd Management discussions


AJCON COMMODITY BROKERS LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS The Companys income from operations this year stood at Rs.31.38 lacs which resulted into a net profit of Rs.5.31 lacs bringing the net worth of the Company to Rs. 205.37 lacs. The Company has got a line of credit sanctioned from another NBFC, which has helped it in expanding its security business in addition to the existing Commodity Broking business. Risk Management Systems: The Company has a comprehensive risk management policy for both the Clientele & Proprietary business. With research & risk management systems in place, the Company wants to utilize its comfortable fund position for proprietary trading in the commodity markets within the fixed parameters. The Company has also been active in securities trading with full risk management system in place. NBFC Activity: The NBFC activity of the Company is yet to commence in full swing. The Company is however regular in its Compliance of RBI regulations as an NBFC. Internal Control System: The Company has adequate internal control systems commensurate with the nature and size of its business. Internal Audit is conducted at regular intervals, by independent firm of Chartered Accountants. Human Resources: The Company has been following standard procedure for recruitment of best personnel for all the departments and is making constant and continuous efforts to retain and groom them to meet its present and future requirements. The relation between the management and staff remained very cordial during the year.