shree narmada aluminium industries ltd Management discussions

• INDUSTRY STRUCTURE AND DEVELOPMENT:

As informed earlier The Court Receiver has taken possession of the factory of the Company on 6-8-2015 and the Companys operations have been temporarily suspended since the said date. So afterward there was no operation carried out by the Company since Financial year 2016-17

• OPPORTUNITIES AND THREATS

Due to the Companys premises has been taken over possession by the Court Receiver DRT-III the companys operation have stopped and afterward there was no operation carried out by the Company since Financial year 2016-17

• OUTLOOK

The Court Receiver has taken possession of the factory of the Company on 06-08-2015. The Company has challenged the DRT order and the Company is also vigorously trying to get the said order vacated.

• RISK AND CONCERNS

Not applicable as no operation carried out by the Company since Financial year 2016-17

• INTERNAL CONTROL SYSTEMS AND ADEQUACY

Your Company has adequate internal control procedures commensurate with the si2e and nature of business. These procedures ensure efficient use and protection of the resources and compliance with policies, procedures and statutes. There is a periodical review mechanism for ensuring the sustenance and up-gradation of these systems. Internal Audit is being conducted by an independent firm of Chartered Accountants on a periodical basis and their report and observations are informed and discussed at Audit Committee Meeting in details and recommendations are implemented.

• DISCUSSION ON FINANCIAL PERFORMANCE

On account of Companys premises has been taken over possession by the Court Receiver DRT-III and thereafter there was no operation carried out by the Company since Financial year 2016-17, the Company could not achieve profitable level of operations, resulting in Loss of Rs.8.08 lakhs at the end of the year.

• HUMAN RESOURCES AND INDUSTRIAL RELATIONSHIPS

Recognizing that people are an important part of the organization, a major exercise in training and development of employees has been undertaken at all levels. The Company gives a lot of importance to Human Resources activities. These activities have helped to retain and motivate employees of the company.

• CAUTIONARY STATEMENT

Estimates and expectations stated in this Management Discussion and Analysis may be "forward-looking statement" 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 your Companys operations include raw material availability and price, cyclical demand and pricing in the Companys principal market, changes in the Government regulations, tax laws, other statutes and economic development within India etc.