CREDENCE SOUND AND VISION LIMITED
ANNUAL REPORT 2008-2009
MANAGEMENT DISCUSSION AND ANALYSIS
The year under review was one of the difficult years of the company. The
company is looking for profitable ventures, as its main area of functioning
entertainment multi-media is no more viable keeping in view the scale of
operation, which the company can possibly take up. Hopefully, the company
should come out with concrete plans in the ensuing year.
CURRENT YEAR PREVIOUS YEAR
PAT 1332308 2749281
EBID 2027645 3465942
PROFIT/LOSS AFTER 1332308 2749281
EPS 0.03 0.61
DEBT 10566670 11994131
INDUSTRY STRUCTURE AND DEVELOPMENT:
Ever since 1996, the economy is passing through a recessionary phase.
Enquiries for new project assignments dropped drastically. The whole
industry suffered and number of companies reported huge losses. This is
mainly because of changes in technology, which has rendered old
equipments out of market. The company has made an attempt to rent out
little equipment and has made a modest income. Your directors are working
on a plan to add new and latest equipments to successfully compete in the
* Vast market
* Diversification plans
* Liason activities
* Backward and Forward integration
* Large overhead
* Competition from global firms
* Recovery of Outstanding.
FUTURE BUSINESS OUTLOOK:
In this information age the knowledge is power. Timely and accurate
information is sought by a number of companies. A large number of companies
are looking for diversification plans as their existing activities are no
more profitable. The company also plans to venture into such activities.
INTERNAL CONTROL SYSTEMS:
The level of activities of the company at present is quite low. Keeping in
view the scale of operation, size of the company, and cost aspect, the
company has reasonably good internal control system to ensure that all its
assets are safeguarded and protected against loss from unauthorised use or
disposition and transaction are authorised, recorded and reported
The internal control systems are also designed to ensure that the financial
and other records are reliable, for preparing financial statements and
other data. The audit committee, which have been formed during the year,
will also play an important role in times to come. A provision for
impairment of loss has been duly recorded.
RISKS AND CONCERNS:
The business of the company largely depends on the improvement of
investment climate, growth of medium scale sector and pooling of resources
by the company. The company will endeavour its best to capitalise on its
strengths and improve upon its weak areas.
HUMAN RESOURCES DEVELOPMENT:
Rather than recruiting permanent employees, the company will prefer to out
source various services based on assignments in hands. This will minimise
the risk and keep the overheads at reasonable level.
FOR AND ON BEHALF OF THE BOARD
Date : 30.06.2009
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