investment precision castings ltd Management discussions


INVESTMENT & PRECISION CASTING LIMITED, is well- known name since its establishment from 1975, within India, and making its presence in Global market by continues developments, by continue to provide its clients his valuable services.

Along with its current line of business in automobiles ancillary products, company is also designed to focusing on Aerospace, Defence and Medical products and equipments, for which company has continued to mark his presence within India and across Globe Moreover company is also getting handsome revenue from the same which is remarkable for company.

The growth rate of Indian economy has improved during the year as compared to the previous year. The Indian automotive industry has shown a upward trend under different segment of vehicles during the year. Since with latest development of Government, by providing tax incentive to individuals to purchase of Electric Vehicle, and to promote and grow market for Electric Vehicle, the company has also installed capacity.

The Company has been able to maintain market share from automobile sector customers with the help of development of new customers/automotive parts which has improved order position of the company. The Company is undergoing expansion for increase in production. The company has continued its focus on the development of new business in aero space sector, which may help increase volume of business of the company.

The prevailing uncertain volatile trend of increase/decrease in the cost of inputs, etc. has effect on the operational manufacturing cost of the Company. Also, the frequent and uncontrolled increase in fuel cost has also affected automotive sector largely. All these factors will affect the business and margins of the company.

We also see good business potential from the Export market in coming years, as we are targeting to mark our presence in export markets by participating in various exhibitions in India as well as Internationally as well.

The Company has in place adequate systems of internal control and documented procedures covering all financial and operating functions. These have been designed to provide reasonable assurance with regard to maintaining proper accounting controls, monitoring economy and efficiency of operations, protecting assets from unauthorised use or losses, and ensuring reliability of financial and operational information.

An Audit Committee of the Board of Directors comprising of Independent Directors and Whole Time Directors, has reviewed regularly the audit plans, significant audit findings, adequacy of internal controls as well as compliance with Accounting Standards.

In line with the companys philosophy and strategic focus on human resource (HR) development, the business has been placing much emphasis on people development, engagement and building leadership for the future. The business has been continuously focusing on the attraction, retention and engagement of talent, the prime mover of success for the business. This helps to meet the evolving complexities and challenges which company faces.

Statement in the Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectations may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied important factors that could make a difference to the Companys operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets, change in the Government regulations, tax laws and other statues and incidental factors.

The projections for the current year FY 2022-23 are quite optimistic and hopefully we will be putting up all time high performance subject to the conditions that the COVID-19 situation and Russia-Ukraine war do not go beyond present level.