We are engaged in the business of trading in agriculture commodities majorly supplying of castor seeds as raw material to one of the big organization of Gujarat. Moreover, the company was incorporated in the year 1992 with the name Ahmedabad Gases Private Limited then it got converted into public company and was engaged in the business of industrial and medical gases.
Further, the company was amalgamated with Excel Castronics Limited and Indus Coils and Plates Limited by arranging a composite scheme of arrangement for revival of Ahmedabad Gases Limited. Then Excel Castronics Limited engaged in the business of trading in castor seeds, castor oil and other agriculture commodities.
Recently, the company is planning to enter into processing business of cashew nuts and cardamom. The Company is also planning to arrange contract farming with the help of farmers and few schedule banks.
OPPPORTUNITIES AND THREATS
The company is majorly in the business of trading of castor seeds and castor oil, it is a regular supplier of castor seeds to a giant organization in Gujarat and in the near future we will try to become one of the daily quantitative supplier to the said giant organization.
The Company is planning to set of processing of cashew nuts and cardamom and will create a brand for trading the same in near future, in the same business few small and medium organization are working so the company will have a competitive market for the new business activity.
RISKS AND CONCERNS
The Management of the company time to time reviews the prospective risks i.e. whether it is regulatory, political, environmental, and financial. The Company has its adequate system to ensure compliance with regulatory, statutory and financial matters.
INTERNAL CONTROL SYSTEM AND ADEQUCY
The Companys internal control systems are commensurate with the nature of its business and the size and complexities of its operations. These systems are designed to ensure that all assets of the Company are safeguarded and protected against any loss and that all transactions are properly authorized, recorded and reported.
FINANCIAL PERFORMANCE
The turnover of the company for the year ended 31st March, 2016 was Rs. 76.46 Crore as against the previous years sales of Rs. 3.05 Crore. The profit after taxation for the year under review was Rs. 77.73 Lacs as compared to Rs. 57.56 Lacs for the preceding year.
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT
The total employee strength of the company as on 31.03.2016 was 16 and it does not include labor and workman.
CAUTIONARY STATEMENT
Statement in this Management Discussion and analysis describing the Companys objective, projects, estimates and expectations may be forward looking statement within the meaning of applicable laws and regulations. Actual results may vary significantly from the forward-looking statements contained in this document due to various risks and uncertainties. Several factors could make a significant difference to the Companys operations. These include economic conditions, Government regulations and Tax Laws, Political situation, natural calamities etc. over which the Company does not have any direct control.
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