Classic Filaments Ltd Management Discussions.

1. FINANCIAL RESULTS:

The Financial performance of the Company for the Financial Year ended 31stMarch, 2018, is summarized below:

(Rupees in Lakhs)
Particulars Period/ year ended 31.03.2018 Period/ year ended 31.03.2017
Total Revenue 235.64 341.17
Total expenses (241.99) (377.87)
Profit/ (loss) before tax (6.35) (36.70)
Profit/ (loss) after tax (6.35) (36.70)

2. OPERATION:

Members are aware that business environment continues to be volatile due to global slowdown, uncertain environment and high fiscal deficit and inflation being responsible for difficult economic conditions coupled with fierce competition and high inflationary market conditions. During the period ended 31st March, 2018, the Loss suffered by the Company amounts to Rs. 6.35 Lakhs as compared to loss suffered of Rs. 36.70 Lakhs during the previous year.

3. INTERNAL FINANCIAL CONTROLS:

The Board hereby reports that the Internal Financial Controls were reviewed by the Audit Committee and there were adequate Internal Financial Controls existed in the Company with respect to the Financial Statements for year ended on 31st March, 2018 and the Internal Financial Controls are operating effectively.

4. RISK MANAGEMENT POLICY:

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed and also discussed at the meetings of the Audit Committee and the Board of Directors of the Company. The Companys internal control systems are commensurate with the nature of its business and the size and complexity of its operations. Significant audit observations and follow up actions thereon are reported to the Audit Committee.

5. CAUTIONARY STATEMENT:

Statement in the Boards report describing the Companys objectives, expectations or forecasts may be forward-looking within the meaning of applicable securities laws and regulations. Actual results may differ materially from those expressed in the statement. Important factors that could influence the Companys operations include global and domestic demand and supply conditions affecting selling prices of finished goods, input availability and prices, changes in government regulations, tax laws, economic developments within the country and other factors such as litigation and industrial relations.