Gangotri Iron and Steel Company Ltd Management Discussions.
Business Segment-wise Performance
The companys operation comprises of M.S. Bar and M.S. Billet that falls under one segment. Hence, Segment wise operational performance is not applicable.
The world as well as national economy is passing through recession. However, average GDP growth rate of Bihar has been magnificent i.e. 10 percent as above approx which is providing positive hope for the Company. The Company is taking all necessary steps to reap the benefits of the fast growth of the State.
Risks and Concerns
Due to global slowdown and fierce competition in the steel industry there is pressure on maintain once of the profitability of the Company. Bihar is one of the fastest growing state in the area of Infrastructural development which is bound to increase the demand of steel in the state. Taking in view the various infrastructural projects taken up by Government of Bihar, the Company is prepared to fulfil all the necessities of the growing demand of steel. Thus, increasing market share and participating in the industrial development of the state.
Internal Control Systems and their Adequacy
There exists an internal audit system during the year under review, which needs to be strengthened for being commensurate with the size and nature of business.
Human Resource Development / Industrial Relations
The Company has been taking various initiatives for HR development, a process that will continue in the coming years. Your Company organizes Architects and Masons meets on a regular basis in various areas where it markets its products. These meets are very well attended and have resulted in better demand for its products apart from popularizing its brand image.
The Company has also made arrangement with Shri Ravi Kishan, a very popular movie and TV personality to act as its brand ambassador.