crazypricing online services ltd Management discussions

INDUSTRY STRUCTURE AND DEVELOPMENT

The past year has been a challenging year for our Industry with lots of ups and downs. Inspite of the above, the industry has been able to maintain its steady performance during the year under review. The Fabrics/Textile and Diamond Industry has played a key role in the countrys progress over the years and the situation is likely to gain momentum in the times ahead. Your company is currently engaged in the business of trading of goods , Diamonds etc and consultancy income. The Industry continues to hold a dominant position in countrys economic structure because of its huge contribution towards employment generation.

Your Companys performance for the year 2022-23 has to be viewed in the context of aforesaid economic and market environment.

OPERATING RESULTS OF THE COMPANY

The total revenue from operations (including other income)of your Company for the year ended March 31, 2023 is increasedto10529.23/-as against 9936.75/-for the year ended March 31, 2022. The Profit before tax 8407.17/-compared to 1889.81 in the previous year. The company had incurred net profit for the year ended March 31, 2023 is of 6262.48 /-as compared to profit of 1786.00 in the previous year ended March 31, 2022.

OPPORTUNITIES

i) There is a provision of more FDI and investment opportunities.

ii) Withdrawal of quota restriction is contributing immensely in market development.

iii) The global needs are being catered with product development.

iv) An upsurge in the purchasing power and disposable income of Indian customers has opened room for new market development.

THREATS

i) With the increase in business segment, the competition has increased from Domestic and other developed countries.

ii) Threats for this Industry are very common and every person is aware of the threats and the risks involved with this Industry.

iii) Striking a balance between demand and supply.

PROSPECT & OUTLOOK

The management is of the view that the future prospects of your company are bright and the performance in the current year is expected to be very well. The committed customers of the company are expected to place more orders, which ultimately affect the top line of the company, positively.

RISKS AND CONCERNS

The Company has taken adequate preventive ad precautionary measures to overcome all negative factors responsible for low trend to ensure steady growth.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

There are well-established procedures for Internal Controls for operations of the company. The finance & audit functions are well equipped with professionally experienced qualified personnel & play important roles in implementing the statutory obligations. The company has constituted Audit Committee for guidance and proper control of affairs of the company.

HUMAN RESOURCES

Human Resources are highly valued assets at Patback Business Limited .The company seeks to attract, retain and nurture technical & managerial talent across its operations and continues to create, sustain the environment that brings out the best in our people with emphasis on training, learning & development. It aims at career progression and fulfilling satisfactory needs. Performance is recognized and rewarded through up gradation & job enrichment, performance incentives.