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Bilpower is a "Power Engineering Solutions Company" primarily into the manufacturing of Transformers Cores & Lamination using Cold Rolled Grain Oriented (CRGO) steel. Our strength is sourcing CRGO in all grades. We guarantee the quality and losses for the transformers as required by our customers. We can process laminations utilizing the complete width of CRGO i.e. upto 1000 mm.
Global energy demand is set to grow by 48% by 2040. In total, some 7200 gigawatts (GW) of capacity needs to be built to keep pace with increasing electricity demand while also replacing existing power plants due to retire by 2040 (around 40% of the current eet). Globally, cumulative investment of USD 16.4 trillion is required from year 2014-2035 which comes to an average of USD 740 billion per year. India has the fth largest power generation capacity in the world. The country ranks third globally in terms of electricity production. In May 2018, India ranked 4th in the Asia Paci c region out of 25 nations on an index that measures their overall power. Electricity production in India reached 1,201.543 Billion Units (BU) during FY18.
India has surplus power generation capacity but lacks adequate infrastructure for supplying electricity to all needy people. In order to address the lack of adequate electricity supply to all the people in the country by March 2019, the Government of India launched a scheme called "Power for All" This scheme will ensure continuous and uninterrupted electricity supply to all households, industries and commercial establishments by creating and improving necessary infrastructure. Its a joint collaboration of the Government of India with states to share funding and create overall economic growth.
OPPORTUNITIES AND THREATS:
India has emerged as the fastest growing major economy in the world as per the Central Statistics Organisation (CSO) and International Monetary Fund (IMF). The factors driving this strong growth, despite the after-effects of demonetisation are: i) Reduction in banks lending rates following a surge in cash deposits, which should aid a pick-up in discretionary consumer spending and investment demands of households, as well as investments by nancially healthy corporates. ii) Strengthening external demand will play a more decisive role in supporting the domestic economy through the export sector. On the other hand, some risks to the growth and in ation trajectory also persist, such as: i) Risk of scal slippage, accentuated by a spreading phenomenon of farm loan waivers. ii) Global political and financial risks materialising into imported in ation
OPERATING RESULTS OF THE COMPANY:
The Financial Statements have been prepared in compliance with the requirements of the Companies Act, 2013 and Indian Accounting Standards (AS) noti ed by the Companies (Accounts) Rules, 2015 as amended under section 133 of the Act. The salient features of the Companys performance are:
Total Sales of Rs 147.10Lacs.
Net Profit of Rs. 80.05 Lacs.
As on 31 st March, 2019,Bilpower Limited considers itself poised to cater to increased demand in the power sector with a growth in the bottom line also.
OUTLOOK FOR THE COMPANY:
The management is hopeful that the Companys business plan for the coming year would yield good results and the Company is hopeful of increased business activity coupled with better market demand of its products.
INTERNAL CONTROL AND ITS ADEQUACY:
In the Company, the Board of Directors is responsible for ensuring that internal financial controls have been laid down in the Company and that such controls are adequate and are functioning effectively. Bilpower Limited has policies, procedures, control frameworks and management systems in place that map into the de nition of Internal Financial Controls as detailed in the Companies Act, 2013. These have been established at the entity and process levels and are designed to ensure compliance to internal control requirements, regulatory compliance and appropriate recording of financial and operational information.
Internal Financial Controls that encompass the policies, processes and monitoring systems for assessing and mitigating operational, financial and compliance risks and controls over related party transactions, substantially exist. The senior management reviews and certi es the effectiveness of the internal control mechanism over financial reporting, adherence to the code of conduct and Companys policies for which they are responsible and also the compliance to established procedures relating to financial or commercial transactions, where they have a personal interest or potential con ict of interest, if any.
Your Company strongly believes that employees are central to the Companys transformation agenda and that it is important to build capabilities of employees to handle both current and future needs. During the year, the Company continued to work on identifying the needs of employees across all categories and level. The Company has built a strong team of qualified and competent professionals to meet the emerging business challenges and market competition.
RISK AND CONCERNS:
The Company has to mainly depend on the foreign suppliers for import of Electrical Steel. Any delay in procurement of the same would impact the nancials of the Company. Further, uctuations in the prices of Electrical Steel would also have an impact on the bottom line of the Company.
Statements in the Management Discussion and Analysis report, describing the Companys objectives, projections and estimates, are forward-looking statements and progressive within the meaning of applicable security laws and regulations. Actual results may vary from those expressed or implied, depending upon economic conditions, Government policies and other incidental/related factors.
|On behalf of the Board of Directors|
|For Bilpower Limited|
|Lalit Laxiram Agarwal|
|Chairman||Mumbai, 27th May, 2019|