HANJER FIBRES LIMITED
ANNUAL REPORT 2011-2012
MANAGEMENT DISCUSSION AND ANALYSIS
The Companys plants remained closed during the year under review due to
non viability of the unit. The Company has not done any trading activities
during the year under review.
Business of the Company
During the year Company has not done any business activity. However, the
Company is mainly engaged in the business of manufacturing Coarse Count
Cotton Yarn and The Company has presently discontinued its business
activities due to non viability of the unit.
Industry Structure and Developments
India has the unique distinction of possessing all possible varieties of
cotton. India is able to offer a wide variety of cotton textiles since she
is, perhaps, the producer of largest range of cottons in the world. Besides
being one of the four biggest producers of raw cotton in the World. In
between, there are all staple lengths and micromere values. And of course
India has consumers with all kinds of incomes. The production of raw cotton
in India has grown steadily.
Over the years. However due to export of raw cotton post WTO 2005 the
present product mix is unviable.
The product mix became a major problem as due to exports of short and
medium staple cotton leading to major competition from China due to which
the end products made out of short and medium staple cotton fibre became
highly competitive in price hence unviable. Hence, turnaround can be
expected only after forward integration and modification of product mix.
Risks and Concerns
The Companys expectations and estimates may vary and the same are
dependent on factors like monsoons, general economical conditions,
terrorists attacks etc. affecting market sentiments in addition, the
government policies and tax implications.
Audit Committee & Internal Control System
The Audit Committee appointed under the Board of Directors reviews the
adequacy and effectiveness of the internal control systems and suggests
improvement for strengthening them, from time to time. The company has
instituted adequate internal control procedure commensurate with the nature
of its business size of its operations. Regular internal Audits and checks
ensure that responsibilities are executed effectively.
The Companys industrial relations were cordial. Cautionary Statement
Estimates and expectations stated in this Management Discussion and
Analysis may be forward-looking statement within the meaning of
applicable securities, laws and regulations. Actual results could differ
materially from those expressed or implied.
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