Corporate Courie Management Discussions


Discussion on financial performance with respect to operational performance

During the year, your Company earned total revenues of Rs.38.12 lacs compared with Rs. 48.61 lacs during the previous year, reflecting a growth of (27.51)% over the previous year. The profit before tax stood at Rs. 27.69 lacs as compared to Rs. 17.14 lacs in the previous year. The Company has made a provision of tax totaling to Rs. 5.6 lacs and the profit after tax stood at Rs. 22.09 lacs for the current year. The Operating Profit (earnings before depreciation and interest and tax) decreased from Rs. 48.61 lacs to Rs.38.12 lacs.

PERFORMANCE REVIEW & FUTURE OUTLOOK:

a) Contract >lnr 5 Million Secured By Civil Construction Business Segment Of The Company.

b) The Management is also actively exploring revenue opportunities in Logistics business segment.

The Company is exposed to variety of risks such as credit risk, economy risk, interest rate risk, liquidity risk and cash management risk, among others. The Company has Enterprise Risk Management Framework which involves risk identification, risk assessment and risk mitigation planning for the Company. The Companys objectives and expectations may be forward looking within the meaning of applicable laws and regulations.

HUMAN RESOURCE MANAGEMENT (MATERIAL DEVELOPMENTS IN HUMAN RESOURCES /INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED)

Your Companys core strength is its people. To bring in more business focus and total ownership, your Companys business organizational structure has been redesigned. This is expected to allow better growth and reward opportunities for talent, while simultaneously delivering better value to shareholders. Your Company has HR policy that elaborates on each aspect of human resource management including recruitment, employee development & training, staff welfare, administration services & recreation events. The Company offers a growth environment aloqg with monetary benefits in line with industry standards.

The Company has a number of employee initiatives to attract, retain and develop talent in the organization.

Your Company encourages regular training and development program. Continuous training is imparted in advanced technologies, managerial and soft skills for the employees to enhance their skill-sets in alignment with their respective roles. The major thrust continues in the effort to bring about measurable change in training coverage and effectiveness, increasing the Leadership and Development opportunities for every staff member.

Companys people centric focus providing an open work environment fostering continuous improvement and development helped several employees realize their career aspirations during the year. Company has continually adopted structures that help attract best external talent and promote internal talent to higher roles and responsibilities.

Employee Retention is a key focus area. The Company has initiated various measures to enhance the retention of employees during the year which includes, employee engagement surveys, transparent Performance Management System, and connect to maintain employee-friendly culture in the organization.

INTERNAL CONTROLS SYSTEMS AND ADEQUACY

The Companys internal audit systems are geared towards ensuring adequate internal controls commensurate with the size and needs of the business, with the objective of efficient conduct of operations through adherence to the Companys policies, identifying areas of improvement, evaluating the reliability of Financial Statements, ensuring compliances with applicable laws and regulations and safeguarding of assets from unauthorized use.

The Audit Committee along with Management overseas results of the internal audit and reviews implementation on a regular basis.

RISK MANAGEMENT

Risks are events, situations or circumstances which may lead to negative consequences on the Companys businesses. Risk management is a structured approach to manage uncertainty. As a formal roll-out, all business divisions and corporate functions will embrace Risk Management Policy and Guidelines, and make use of these in their decision making. Key business risks and their mitigation are considered in the annual/strategic business plans and in periodic management reviews. The risk management process in our i^ulti-business, multi-site operations, over the period of time will become embedded into the Companys business systems and processes, such that our responses to risks remain current and dynamic.

The Risk Management is overseen by the Audit Committee of the Company on a continuous basis. The Committee oversees Companys process and policies for determining risk tolerance and review managements measurement and comparison of overall risk tolerance to established levels. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuous basis.

For and on behalf of the Board of Directors

CORPORATE COURIER AND CARGO LIMITED

Ritesh Patel Akash Patel
Director Director
Date: August 30, 2018 Din:00700189 Din:06839168
Place: Mumbai