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INDUSTRY STRUCTURE & DEVELOPMENTS
The Company operates in the single business segment of manufacture of Coextruded Multilayer Films, Flexible Laminated Films, Plastics bags and pouches , Holographic Films products Etc. This sector of packaging is witnessing intense competition from numerous players in the country. The competition in the market place has also intensified as a result of low cost competition and opening up of the economy.
OPPORTUNITIES, THREATS, RISKS AND CONCERNS
The Company had the opportunity to increase the sales as there was growing demand coupled with price rise of the products. The Company seeks lots of opportunities in the packaging market in future. The Company anticipates the increasing demand of flexible packaging because of development of retail selling in the country. However a price fluctuation in the raw material prices is a concern.
Due to the intense competition in the segment of flexible laminate there are number of players in this segment of business. The Company is striving to have the competitive position in the business segment of flexible laminates and making all efforts to increase the turnover in this segment.
INTERNAL CONTROL SYSTEM & THEIR ADEQUACY
The Company has a good system of internal controls in all sphere of its activity. The internal control system is supplemented by effective Internal Audit. The audit committee regularly reviews the findings of the internal auditors and effective steps to implement the suggestion /observation of the auditors are taken and monitored regularly. In the opinion of the Board, an effective internal control system commensurate to the size of the Company exists.
DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The Company has achieved total income (including other income) of Rs.14.46 Crores and Net Profits after tax is of Rs. 65.01 Lacs. The Sales turnover has increased from Rs. 13.83 Crores to Rs. 14.43 Crores, the quantity of sales is higher than last year.
MATERIAL DEVELOPMENT IN HUMAN RESOURCES /INDUSTRIAL RELATIONS FRONT, INCLUDING THE NUMBER OF PEOPLE EMPLOYED.
The Company has employees and the cordial relations were maintained with all of them throughout the year. The Board of the Company wishes to place on record its appreciation to all the employees for their sustained efforts in improving the capacity utilization and operational efficiency.
The Company has initiated many steps in career and personality development of the employees belonging to different departments. The employees attended seminars and other training programs to enhance their skills and knowledge. To motivate and to get the best results from the employees, the Company has the performance based incentive scheme for its entire management & office cadre.
Statement in this report describing the Companys position and expectations may be "forward statements" within the meaning of applicable securities laws or regulations. Actual result could differ materially from those expressed or implied. Important factors that could make the difference to the Companys operations include, among others, economic condition affecting demand/supply and the price condition in the market in which the Company operates changes in the Government regulations, Tax laws and other statutes and incidental factors.
|Place: New Delhi||By order of the Board of Directors|
|Date: 13th August 2018||FOR DUROPACK LIMITED|
|Vivek Jain||Vineet Jain|
|(Managing Director)||(Whole time Director & CFO)|
|DIN: 01753065||DIN: 01823758|
|Address: 3123, Sector-D,||Address: 3194, Sector - D, Pocket - 3|
|Pocket-III, Vasant Kunj, New Delhi-110070||Vasant Kunj New Delhi-110070|