The Company is into Pursuant to Honble NCLT order dated August 3, 2020 the company is into CIRP and Mr. Devarajan Raman Resolution professional is in control of the company.
The key issues of the Management Discussion and Analysis are given hereunder:
Industry Structure and Development
The real estate industry is organized and lot of discipline has been brought in to the industry after the enactment of RERA. The governments thrust on housing for the poor and the lower income gropu has propelled the idnstry and there is a spurt in the activity for rural housing. The time bound completion and lowering of stamp duty on registration of flats has given a fillip to the industry.
Discussion on financial performance with respect to operational performance
During the year under review, the Company has incurred a loss of Rs. 185.60 Lakhs as compared to the Profit of Rs. 1759.45 Lakh earned during financial year 2020-21. The Company is likely to turn around once the Resolution plan pending before the National Company Law Tribunal is approved.
Segment–wise or product-wise performance
The Company is into single reportable segment only.
Outlook
The Company remains confident of the long term growth prospects & opportunities ahead of it in its business.
Internal control system and adequacy
The system of internal control has been established to provide reasonable assurance of safeguarding assets, maintenance of proper accounting records in compliance with applicable Laws and Regulations to ensure reliability of financial statements and reports. The Statutory Auditors and the Audit Committee review all financial statements and ensure adequacy of internal control systems.
Opportunities and Threats
The strength of a company is known from sound advices. It also depends on the Government policies of taxation. Introduction of GST may give a big boost to the market.
Risks Management
Risk evaluation and management of risk is an ongoing process in the company.
Human Resources
The Company continues to have cordial relations with all the employees.
Details of Significant Changes in key financial ratios, along with detailed explanations therefore:
(i) Debtors Turnover: NIL (ii) Inventory Turnover: NIL (iv) Current Ratio: 1.23:1 (v) Debt Equity Ratio: 4.99
(vi) Operating Profit Margin (%): -309333% (vii) Net Profit Margin (%): -309333%
Details of change in Return on Net Worth as compared to immediately previous financial year along with the detailed explanation thereof
RoNW (FY 2019-20): -109.33% RoNW (FY 2020-21): -3.08%
Cautionary Statement
Statements in the Management discussion and analysis describing the companys objectives, projections, estimates and expectations may be "forward looking statements" within the meaning of applicable 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 economic conditions affecting demand/supply and prices, conditions in the domestic and overseas markets in which the company operates/ going to operate, changes in government regulations, tax laws and other statutes and other incidental factors.
By order of the board | |
Satra Properties (India) Ltd | |
Devrajan Raman | |
Resolution Professional | |
Date: March 5, 2022 | |
Place: Mumbai |
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.