Adhata Global Ltd Management Discussions

Business

ADHATA GLOBAL LIMITED (‘AGL or ‘Company) (Formerly known as M V Cotspin Limited) is engaged in the business as manufacturers, traders, exporters, importers, dealers of laminates of all sizes and descriptions, veneers, pre-laminated board, decorative laminates, decorative laminated sheets, high pressure laminates, post forming laminates, decorative veneers, ready to install doors, door sets, fire rated doors, Veneered engineered flooring and flooring of all kinds and descriptions and Particle Board of all kinds and descriptions and other paper based, wood, ply-wood, pulpwood, match-wood, hardwood, wood based and plastic based products of all kinds.

Change of name of the Company

Pursuant to the provisions of Section 4(4), Section 13 read with Rule 29 of the Companies (Incorporation), Rules, 2014 and other applicable provisions of the Companies Act, 2013, the Registrar of Companies has approved the application for change of name of the Company from M V COTSPIN LIMITED to ADHATA GLOBAL LIMITED w.e.f 30.10.2023.

The new name as a part of corporate rebranding exercise would not just make the name of the Company simpler, more relatable and focused but also would collectively reflect the true identity and vision of the Company, thus being in the best interest of the Companys and all its stakeholders.

Internal Control Systems and their adequacy

This has been covered in the Directors Report.

Risks and Concerns

Risks are an integral part for a business. However, effective risk management is fundamental to the business activities of a company. Effective risk management comprises reducing the element of surprise, improve services, ensuring proactive change management, sourcing resources efficiently, optimized utilisation, leakage prevention and reduced wastage. While we remain committed to increasing shareholder value by developing and growing our business within our Board-determined risk appetite, we are mindful of achieving this objective in line with the interests of all stakeholders.

In 2023-24, Adhata Global Limited continued to strengthen its comprehensive system to promptly identify risks, assess their materiality and take measures to minimize their likelihood and losses. Risk management was applied across all management levels and functional areas.

Material Developments in Human Resources