Today's Top Gainer
Note:Top Gainer - Nifty 50 More
(a) Business Scenario:
The financial year under review continued to be challenging and eventful in terms of the business environment. The Government introduced a significant change in terms of introduction of Goods and Services Tax. Financial Year 2017-2018 was a year of average performance for Ambassador Intra Holdings Limited as we continued to maintain our position. Indias trading and textile sector is one of the oldest industries in Indian economy dating back several centuries. Even today, textiles sector is one of the largest contributors to Indias with approximately 15 per cent of total exports. The textile industry employs about 51 million people directly and 68 million people indirectly. The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world.
(b) Opportunities and Threats:
The Indian Textile Industry is set for strong growth, buoyed by both strong domestic consumption as well as export demand. Urbanization is expected to support higher growth due to change in fashion & trends. Technological advancement along with favorable Government policies should act as a Catalyst in Textile Sector Growth. Abundant raw material availability helps control costs and reduces lead- time across operations, Strong relationship with local customers.
Striking a balance between the quality and price of products. Striking a balance between demand and supply. Satisfying the demands of people all across the globe and at the same time, steadily improving the quality of the products. Geographical disadvantage.
(c) Outlook and Future Prospects:
The Indian textiles industry, currently estimated at around US $ 120 billion, is expected to reach US$ 230 billion by 2020. The Indian Textile Industry contributes approximately 4 per cent to Indias GrossDomestic Product (GDP), and 14 per cent to overall Index of Industrial Production (IIP). The textiles sector has witnessed a spurt in investment during the last five years. The Industry (including dyed and printed) attracted Foreign Direct Investment (FDI) worth US$ 3.35 billion during April 2000 to March 2018. The India government has come up with a number of export promotion policies for the textiles sector. It has also allowed 100 per cent FDI in the Indian textiles sector under automatic route. The Indian cotton textile industry is expected to showcase a stable growth in FY 2017-18, supported by stable input prices, healthy capacity utilization and steady domestic demand.
(d) Risks & Concerns:
The unit leads to a significant rise in labour cost which greatly impacts the profit margin. In todays complex business environment, almost every business decision requires executives and managers to balance risk and reward. Effective risk management is therefore critical to an organizations success.
Timely and effective risk management is of prime importance to our continued success. Increased competition between local and International suppliers of the product, the Company believes that its year of experience, quality , research and development, brand image and customer loyalty are success factors to sustain even in the global economic scenario.
(e) Subsidiaries/Joint Ventures:
The Company does not have subsidiaries, associates and joint venture companies.
(f) Human Resources:
The Companys relations with the employees continued to be cordial and harmonious relations with its employees. It considers manpower as its assets and that people had been driving force for growth and expansion of the Company.
(g) Segment -Wise or product wise performance:
The Company operates in only single segments. Hence segment wise performance is not applicable.
(h) Internal Control Systems and their adequacy:
Your Company has an effective system of accounting and administrative controls supported by an internal audit system with proper and adequate systems of internal check and controls to ensure safety and proper recording of all assets of the Company and their proper and authorized utilization. As part of the effort to evaluate the effectiveness of the internal control systems, your Companys internal audit department reviews all the control measures on a periodic basis and recommends improvements, wherever appropriate. The internal audit department is manned by highly qualified and experienced personnel and reports directly to the Audit Committee of the Board. The Audit Committee regularly reviews the audit findings as well as information Security Assurance Services is also provided by independent external professionals. Based on their recommendations, the Company has implemented a number of control measures both in operational and accounting related areas, apart from security related measures.
These statements are subject to certain risks and uncertainties. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual result may be different from those expressed or implied since the companys operations are affected by the many external and internal factors, which are beyond the control of the management. Hence the company assumes no responsibility in respect of forward-looking statements that may be amended or modified in future on the basis of subsequent developments, information or events.
Company follows all mandatory Accounting Standards.
|By order of the Board of Directors|
|Place: Ahmedabad||Vinod Rana|
|Date: 01.09.2018||Company Secretary|