i) Industry Structure and Development
The Company is engaged in the business of trading of ferrous and non ferrous metals.The Company intends to extend its area of operations to other metals including of tradingof precious metals. The metal industry in which the Company is dealing is recently havingtrends of volatility and there are very good chances for the Company to develop its areaof operation in the metal industry.
ii) Opportunities and Threats
For market players of Metal industry, a major cause of volatility is the cost of rawmaterials, which has been exacerbated by the change from annual to shorter-term pricecontracts. Shortages in supply have enabled suppliers to re-engineer the pricingmechanisms. However, this has created challenges for market players. They now have to dealnot only with the increased volatility in raw material prices, but also with how tomaintain margins with fluctuating demand. These developments are significantly affectingthe earnings of the Metal industry and try to achieve stability in Metal market.
iii) Internal Control system and their adequacy
The Company has adequate system of internal control commensurate with its size andoperations to ensure orderly and efficient conduct of the business. These controls ensuresafeguard of assets, reduction and detection of frauds and error, adequacy andcompleteness of the accounting record and timely preparation of reliable financialinformation.
iv) Financial performance with respect to operational performance
The financial performance of the Company for the year 2013-14 is described in theDirectors Report.
v) Human Resources/ Industrial Relations
Your Company has undertaken certain employees Development initiative which havevery positive impact on the moral and team spirit of the employees. The Company hascontinued to give special attention to Human Resource/ Industrial Relations development.Industrial relations remained cordial throughout the year and there was no incident ofstrike, lock-out etc.
vi) Cautionary Statement:-
Statement in this Management Discussion and Analysis describing the companysobjectives, projections, estimated and expectations are "forward lookingstatements" Actual results might differ, materially from those anticipated because ofchanging ground realities.
|Regd. Office :||On behalf of the Board|
|36, Advani Market||For, Mercury Metals Ltd.|
|O/S Delhi Gate,|
|Ahmedabad-380004||Govindram L. Kabra|
|Date : 12/08/2014||EXECUTIVE DIRECTOR|
|Place : Ahmedabad||DIN:00006621|
Ramprakash L Kabra , Director
Mahendra G Prajapati , Director
Govindram L Kabra , Whole-time Director
Pankhil D Desai , Director
Company Head Office / Quarters:
36 Advani Market,
O/s Delhi Gate Shahibaug,
Phone : Gujarat-91-79-65425275 / Gujarat-
Fax : Gujarat-91-79-26302231 / Gujarat-
E-mail : firstname.lastname@example.org
Web : http://www.mercurymetals.in
101 Shatadal Complex,Ashram Road P O,Navrangpura,Ahmedabad-380009