Interlink Petroleum Ltd Management Discussions.
INDUSTRY STRUCTURE & DEVELOPMENT
The agreement between oil producing countries in late 2016 to restrain oil production has contributed to rise in crude prices, this has further aggravated by USA decision to re-impose sanctions on Iran. The sector has come out of its upheaval in view of the recent price recovery mainly from rebalancing of supply and demand fundamentals, partly accelerated by OPECs recent decision to cut production, are expected to remain in place. However sustained stability still looks distant in view of the apprehensions around protectionism, trade wars, unconventional fiscal and monetary policies of advanced economies and changing demographic and political scenario around the globe.
OPPORTUNITIES AND THREATS
Due to severe financial crunch the Company could not carry any activity during the year under discussion, liabilities are mounting. The negative networth of the company is a great threat for the going concern of the Company. The management is exploring ways and means to come out of situation.
SEGMENT WISE OR PRODUCT WISE PERFORMANCE
The Company is present only in one segment i.e. exploration, development and production of oil and gas fields.
The future outlook will depend on the recovery of the operational and financial health of the Company.
RISKS & CONCERNS
In view of the facts stated above under opportunity and threats there seems to be a great threat to the going concern concept of the Company.
INTERNAL CONTROL SYSTEMS & THEIR ADEQUACY
The Company has proper and adequate systems of internal control to ensure that assets are safeguarded and transactions are duly authorized, recorded and reported correctly.
FINANCIAL AND OPERATIONAL PERFORMANCE
The details of the financial performance appear separately in the financial statements.
The Company had no employees employed in the Company as on 31st March, 2018.
HEALTH, SAFETY AND ENVIRONMENT (HSE)
Though the Company had no operation during the financial year, the management is aware of all the HSE issues that are relevant to the conduct of business in which the Company operates.
Certain statements in the Management Discussion & Analysis describing the companys views about the Industrys expectations/predictions objectives etc. may be forward looking within the applicable laws and regulations. Actual results may differ materially from those expressed in the statements. Companys operations may be affected with the demand and supply situations, input prices and their availability, changes in Government regulations, tax laws and other factors such as industrial relations and economic developments etc. Investors should bear the above, in mind.
For and on behalf of the Board
Sd/- Vijay Misra
Place: Delhi Date: 09.08.2018