jain granites projects india ltd Management discussions

MANAGEMENT DISCUSSION AND ANALYSIS OF REKS

Granites, Marble .Tiles & Building Materials Industry: As the construction activity is growing everywhere in India as much as abroad in Asian Continent, Australia and African sub continents the demand for the granite, marble slabs, tiles, sanitary- Wares, Building materials etc is huge and the demand and supply gap will be big. Your Company, M/S Jain Granites & Projects India Ltd. is in the Building Materials industry. The nature of the industry is partly consumer oriented and partly construction industry oriented. Your companys products have established their creditability qualitatively in domestic as well as in international markets. Your company is taking all efforts to continuously improve the quality of its products to ensure consumer satisfaction The Company has to operate penetrating with stiff competition in the market. To overcome the situation your directors are taking every effort not only to sustain the market share but also to enlarge it by adopting strict quality control.

INTERNAL CONTROL

The Company has a proper and adequate internal control procedure.

MARKETING PERFORMANCE

As a result of better marketing strategy the company has been able to procure substantial export orders and achieve an all round improvement in its turnover. With continuous thrust on modernization and diversification and cost control measures, the Company looks to the future with optimism and strength.

CAUTIONARY STATEMENT.

Some of the statements in this report describing the Companys objectives and expectations expressed in good faith may constitute "Forward Looking Statements" within the meaning of applicable laws and regulations. Actual results might differ materially from those, in the event of changes in the assumptions and actual market conditions.

EMPLOYEES

The relations at the Company and other establishments continued to remain cordial during the year.

There is no employee drawing a remuneration in excess of the limits prescribed under Section 217(2A) of the Companies Act, 1956 read with relevant rules.

INFORMATION AS PER SECTION 217(1 )(E) OF THE COMPANIES ACT, 1956

The Company did not have any activity relating to

(a) Conservation of energy and

(b) Technology absorption during the year.

AUDITORS:

M/s S Kankaria & Co., Chartered Accountants , the retiring Auditors, are eligible for reappointment and have furnished a certificate to the effect that their re-appointment, if made will be in accordance within the limits specified in Section 224(1 B) of the Companies Act, 1956.Accordingly it is proposed to appoint M/s S.Kankaria & Co as Auditor of the Company at the ensuing Annual General Meeting to hold office till the conclusion of the next Annual General Meeting. Members are requested to appoint the Auditors for the Current year at a remuneration to be decided by the Board of Directors of the Company.

ACKNOWLEDGEMENT:

Your Directors greatly value and acknowledge the support and co-operation that the Company received from Bankers, Buyers/Customers, Vendors, statutory authorities and all other establishments connected with the business of the Company.

Your Directors place on record their appreciation of the valuable contributions made by the Companys employees at all levels during the year.

For and behalf of the Board Of Directors.

Chennai -600 030	R.SunilBafna
27/08/2013	Executive Director