Choksi Laboratories Ltd Management Discussions.
We have pleasure in submitting the Management Discussion & Analysis Report on the Companys business.
OPPORTUNITIES AND THREATS
The year was marked with considerable activity be it pharmaceutical, food or construction. Indian economy was adapting to the global factors and compliance levels were being made stringent on the global as well as domestic front. Human resource play as a vital role in the success or failure of an organization. To make the organization ready for tomorrow, the management invested in upgrading/ capacity building at current locations as well as building a team that can take your company forward in the coming years.
A. SEGEMENT- WISEPERFORMACE
The Company is engaged in the single segment of analytical testing.
The outlook for the Company stands promising. CLL with five units across India and capacity increase underway. We hope to improve considerable in the coming years. Company is poised to continue an upward trend.
Internal control system is a means by which an organizations resources are directed, monitored, and measured.
It plays an important role in preventing and detecting fraud and protecting the organizations resources, both physical (e.g., machinery and property) and intangible (e.g. reputation or intellectual property such as trademarks). The Company has adequate internal control systems including suitable monitoring procedures commensurate with its size and the nature of the business. Everyone in a company has responsibility for internal control to some extent. Virtually all employees produce information used in the internal control system or take other actions needed to affect control. Also, all personnel are responsible for communicating upward problems in operations, non-compliance with the code of conduct, or other policy violations or illegal actions and each major entity in corporate governance has a particular role to play. The management fulfills this duty by providing leadership and direction to senior managers and reviewing the way theyre controlling the business.
The statutory auditors while conducting the statutory audit, review and evaluate the internal controls and their observations are discussed with the Audit committee of the Board.
Please refer to performance review in the Board of Directors Report.
CLL recognizes that nurturing and recruiting the best talent is vital to the long-term success of the enterprise. During the year under review, various training and development programmes were conducted to improve the competency level of employees with an objective to improve the operational performance of individuals, which are viewed as key drivers of the personal growth and the success of CLL.
Certain statement in the management discussion and analysis may be forward looking within the meaning of applicable securities law and regulations and actual results may differ materially from those expressed or implied. The sestatement s are likely to address the Companys growth strategy, financial results, pro duct development, product approvals, product potential and development programs based on certain assumptions and expectation of future event, actual results could differ materially from those expressed or implied.
The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements on the basis of subsequent developments, information of events.
|For and on behalf of the Board of Directors|
|Place: Indore||Chairman & Managing Director|
|Date: 12th August 2019||DIN00155078|