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Industry Overview, Risks and Concerns
Ace Men Engg Works Limited is mainly engaged in Trading activities as its principal business. Ace Men Engg Works Limited adheres to all applicable laws, rules and regulation on a timely basis.
The Company Invests in equities through the secondary markets and provides Loans & Advances to Corporate, Individuals etc.
The management is pleased to report that companys business plan is progressing as per the managements satisfaction. Details shall be made at the appropriate time.
India is today recognized as one of the best sourcing destinations for garments, textiles, accessories and finish: It provides a perfect blend of fashion, design, quality, patterns, textures, colours and finish. Labour is skilled and economical while process are highly without taking away from the quality of the final product. Amazing technological developments, superior design capabilities and companies that provide integrated logistics solutions are other highly prized support systems that the industry thrives on. Combined with these manmade assets are the countrys natural assets which play a large role in boosting the garment industry- by providing raw materials of world class quality. India the largest producer of Jute the second largest producer of cotton, silk and cellulosic fibre, the third largest producer of raw cotton and the fourth largest producer of synthetic fibre.
Exporters may find it challenging to manage liquidity in F.Y. 2016-2017 amid increasing volumes coupled with a long working capital cycle and the consequent higher use of working capital limits - a characteristic of the textile business. It is to be noted that Indias position in global arena is on a shaky platform as it is facing tough competition from its neighbouring countries such as China & Bangladesh. Talking about these three Asian countries the labour in Bangladesh is cheapest and Indias labour is costliest.
In an interdependent, fast-moving world, organizations are increasingly confronted by risks that are complex in nature and global in consequence. Such risks can be difficult to anticipate and respond to, even for the most seasoned business leaders.
INTERNAL CONTROL SYSTEMS & ITS ADEQUACY:
Your Company has an independent internal management assurance function which commensurate with the size of the Company & its scale of business. Internal controls & processes are evaluated from time to time so as to ensure adherence to laid down standards & prescribed regulatory and legal framework.
Certain statements in "Management Discussions and Analysis" section may be forward looking and are stated as required by law and regulations. Many factors, both external and internal, may affect the actual results which could be different from what the Directors envisage in terms of performance and outlook.
|For and on behalf of the Board of Directors|
|Rajesh Kumar Sharma||Priti Sharma|
|Managing Director||CFO & Director|
|(Din: 02645337)||(Din: 06831065)|
|Date: 18th May, 2017|