Your Directors are pleased to present the Management Discussion and Analysis Report forthe year ended 31st March, 2014.
The Management Discussion and Analysis have been included in consonance with the Codeof Corporate Governance as approved by The Securities and Exchange Board of India (SEBI).Investors are cautioned that these discussions contain certain forward looking statementsthat involve risk and uncertainties including those risks which are inherent in theCompanys growth and strategy. The company undertakes no obligation to publiclyupdate or revise any of the opinions or forward looking statements expressed in thisreport consequent to new information or developments, events or otherwise.
Infrastructure and Construction Industries in any country plays a vital role for theeconomys growth and development. The Indian economy is getting bigger and betterwith every passing year. And needless to say, Infrastructure will contribute significantlyto the countrys overall development. Nearly all the infrastructure and ConstructionIndustries sectors will provide excellent opportunities for investments, with roads,railways, ports, power and airports being the major attractions.
CONSTRUCTION INDUSTRY OVERVIEW:
The Construction Industry in India is the one of the largest economic activity afteragriculture and provides employment to large amount of people. Broadly, construction canbe classified into two segments infrastructure and real estate.
The infrastructure segment involves construction projects in different sectors likeroads, rails, ports, irrigation, power, etc. Investment in the infrastructure sector playsa crucial role in the growth of the economy of the country. Development of infrastructurein the country mainly depends upon the spending by Government of India in varioussub-segments of infrastructure and Real Estate is also based on the Investments inInfrastructure Sector.
We are currently engaged in trading of Iron and Steel and Cement as well as inconstruction activities. Our operation includes all aspects of real estate development,from the identification and acquisition of land the planning, execution and marketing ofour projects and the maintenance and management of our completed developments. Theaforementioned services are currently provided by us on subcontract basis.
As there are no subsidiaries of the Company, Investment made in Subsidiaries is NIL.
OPPORTUNITIES AND THREATS
The performance of capital market in India has a direct correlation with the prospectof economic growth and political stability. Though the growth projections for FY 2013-14appear reasonable, there are certain downside risks such as pace and shape of globalrecovery, effect of withdrawal of fiscal stimulus and hardening of commodity prices. Ourbusiness performance may also be impacted by increased competition from local and globalplayers operating in India, regulatory changes and attrition of employees. With growingpresence of players offering advisory service coupled with provision of funds for theclients' needs, we would face competition of unequal proportion.
DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The details of the financial performance are appearing in the financial statementsseparately. The highlights of the same are also mentioned in the Directors Report.
RISKS AND CONCERNS
This section contains forward looking statements that involve risks and uncertainties.Our actual results could differ materially from those anticipated in these statements. Asthe industrial and economic growth of the country is showing steady improvement. There isno perceived risk and concern in this area of business and there is an ample scope forgrowth in India itself. The Companys risk management framework is in line with thecurrent best practices and effectively addresses the emerging challenges in a dynamicbusiness environment. The Company manages these risks by maintaining a conservativefinancial profile and by following prudent business and risk management practices.
INTERNAL CONTROL SYSTEMS AND ADEQUACY
The Company has implemented a comprehensive system of internal controls and riskmanagement systems for achieving operational efficiency, optimal utilization of resources,credible financial reporting and compliance with local laws. These controls areperiodically reviewed by both for its efficiency and effectiveness and recommendsimprovements, wherever applicable. Management information and reporting system for keyoperational activities form part of overall control mechanism.
The Management believes in maintaining cordial relations with its employees. Themanagement recognizes the importance of Human Resources and effective steps will be takento strengthen the same depending on the requirements. The Company provided excellentworking environment so that the individual staff can reach his/her full potential. TheCompany aims in talent management with particular focus on grooming, learning anddevelopment and employee engagement has been the key focus areas in the Company'sobjectives.
The Company has attained significant growth in comparison to Financial Year 2013.Financial Year 2014 will witness revenue growth as the company focuses on new projects. Toovercome the various economical challenges, the Company time to time revisits itsstrategy. In order to excel in the competitive scenario the Company focuses much on theinternal improvements and the early signs are positive. These improvements will enable theCompany to emerge from the economic downturns as a much better organization ready to dealwith the opportunities of tomorrow.
Certain statements under "Management Discussion & Analysis" describingthe Company's objectives, projections, estimates, expectations or predictions may beforward looking statement within the meaning of applicable securities laws and regulationsAlthough the expectations are based on reasonable assumptions, the actual results couldmaterially differ from those expressed or implied. Since the Company's operations areinfluenced by many external and internal factors beyond the control of the Company thatcould make a significant difference to the Company's operations. These include economicconditions affecting demand and supply and price conditions in the market in which theCompany's operates, changes in the Government regulations, tax laws, natural calamitiesand other statutes and other incidental factors over which the company does not have anycontrol. The Company assumes no responsibility to publicly amend, modify or revise anyforward looking statements, on the basis of any subsequent developments, new information ,future events or otherwise.
Atul Kumar Sultania , Director
Umesh Kumar Kanodia , Chairman
Santosh Lama , Director
Shambhu Agarwal , Director
Company Head Office / Quarters:
505 Corporate Corner,
Sunder Nagar Malad(W),
Phone : Maharashtra-91-022-28725764 / Maharashtra-
Fax : Maharashtra- / Maharashtra-
E-mail : firstname.lastname@example.org
Purva Sharegistry (I) Pvt Ltd
9 ShivShakti Indl Es,J R Boricha Marg,Lower Parel,Mumbai - 400 011