growington ventures india ltd share price Management discussions


1. Description of our Business andOperations

Growington Ventures India Limited (Previously known as VMV Holidays Ltd.) was established under the Companies Act, 1956 on August 03, 2010 having its registered office in the state of Mumbai.

The Company is prominently engaged in trading and distribution activities of different products. The operating environment this year continued to remain volatile and challenging. India witnessed a devastating second wave of Covid-19 during the June quarter with a significant humanitarian and economic impact. The laater half of the year witnessed a marked moderation market growth with volumes being impacted due to high inflation. As we gradually emerged from the challenge of the pandemic, the consumption of hygiene products moderated.

The lockdown imposed due to COVID-19 pandemic had a negative impact on the business of the Company. In compliance with the directions issued by Central Government/State Government/ Municipal Corporations with a view to prevent and contain the spread of COVID-19, the Company had temporarily shut down its office to ensure the safety and well-being of all its employees, customers and other stakeholders. The company starts its office operations after the demand for our products rised in the market and the CoVid-19 situation is was controlled.

The Company is taking all necessary steps to reduce wastages and make cost efficient and will surely be able to achieve its target. The activities of a trading company include:

Identification of suppliers in with capacity to supply large volumes of generic products at competitive prices.

Negotiating the terms of sale and delivery of products.

Financing and assurance of payment to the supplier.

Managing logistics and transport.

Distribution and sale of the products through its network.

The two years of pandemic has made us a stronger, better business which is much more resilient and responsive. As the economy, consumer and channel landscapes rapidly evolve, we continue to be agile to leverage our strengths, capture opportunities and navigate through the challenges. Our strategy is constantly evolving in line with the trends and forces shaping our markets and impacting our multi-stakeholders. We remain committed to delivering growth.

2. Opportunities and Threats

The Company bears the normal risk in terms of inherent business risk in the kind of business the company is into. The Board of the company has taken a balanced approach for investing in these activities and evaluating the potential as well as the risk to return on capital.

3. Industry& Business Outlook

Your Management is evaluating various business opportunities and evaluating the potential as well as the risk to return on capital. In the backdrop of a challenging operating environment in this fiscal, we dynamically managed our business to deliver strong bottom line performance and made significant progress on our strategic priorities. We will continue to take approach in financial year 2022-23 where operating environment is expected to remain challenging with further input cost inflation and market growth. Our strategic clarity, the strength of our brands, our execution prowess, agility and adaptability will continue to hold us in good stead.

4. Risks and Concern

Company has a Risk Management Committee to look after the risk related matters of the Company. Risk Committee meetings are held to address the risk issues relating to various businesses and support areas and monitor critical risk factors in order to effectively address them. Risk Management limits on foreign exchange exposure and credit limits for counter parties are set and reviewed periodically. Your Company considers reviewing current practices on risk management initiatives to strengthen the risk management framework.

5. Internal Control System and their Adequacy

Internal Control Systems are embedded in all processes across all functions in your Company. These systems are being reviewed regularly and whenever necessary, they are modified or redesigned to ensure better efficiency, effectiveness and improved controls. The application systems for individual businesses are backed by an integrated Accounting System. These integrated systems form part of the overall control environment. Process and systems are subject to Internal Audit through an annual internal audit plan. These are further supported by the Statutory Auditors who validate that the financial reporting is true and fair. The results of all audits are discussed with the Senior Management and reviewed by the Audit Committee. The Audit Committee meetings are held every quarter.

6. Financial Performance ShareCapital

There is a change in the Authorized Capital of the Company from Rs. 6,20,00,000/- (Rupees Six Crores Twenty Lakhs), comprising 62,00,000 (Sixty Two Lakhs) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 13,20,00,000/- (Thirteen Crores Twenty Lakh Only) comprising 1,32,00,000 (One Crore Thirty Two lakh only) Equity Shares of Rs. 10/- (Rupees Ten) each and there is no change in the issued, subscribed and paid-up share capital of your Company stood at Rs. 5,57,85,000/- (Rupees Five Crores Fifty Seven Lakhs Eighty Five Thousand), comprising 55,78,500 (Fifty Five Lakhs Seventy Eight Thousand Five Hundred) Equity Shares of Rs. 10/- (Rupees Ten) each. The Reserves and Surplus is Rs. 60,83,330.79 (Sixty Lakh Eighty Three Thousand Three Hundred Thirty and Seventy Nine Paise) as on the end of the Current year.

Total Income

During the year under consideration, total income was Rs. 1,65,90,100.61 (One Crore Sixty Five Lakhs Ninety Thousand One Hundred and Sixty One Paise Only)

7. Human Resources

The strength of any Company lies in the competencies and skill of its employees. Human Resources in Company strive to enable the organization to achieve its objectives by constantly focusing the business needs. This creates a need for constantly evolving and stimulating the systems and processes in the context of organizational culture. These are challenging times, and to retain a competitive edge, a company must direct individual accomplishment toward organizational objectives. The Company has a healthy mix of senior and junior team members which creates a good skilled and trained work force working towards success of the Company. Peaceful and cordial relations continue with the employees. The Company strives to promote an open culture and provide a vibrant work environment to its employees. For constant skill and knowledge up gradation the Company imparts training to all the employees based on individual needs and also encourages them to attend external seminar and workshops.

8. Information Technology

Our company constantly upgrades its technology both in terms of hardware and software. This also helped installing a good management information system for the management to get timely information for decision making.

CAUTIONARY STATEMENT

Statement in Management Discussion & Analysis describing the Company’s objectives, projections, estimates, expectations may be “forwarded looking statement” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company’s operation includes economic conditions affecting the demand and/or price conditions in the domestic and overseas markets in which the Company operates, changes in Government regulations, tax laws and other states and other incidental factors.

On behalf of the Board of Directors
For Growington Ventures India Limited
Sd/- Sd/-
VIKRAMBAJAJ LOKESH PATWA
Place: Mumbai Director Director
Dated: 26/08/2022 DIN: 00553791 DIN: 06456607