Today's Top Gainer
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INDUSTRY STRUCTURE AND OUTLOOK:
Our Company was incorporated by conversion of partnership firm M/s. Jigar Industries on February 7, 2017. We are engaged in manufacturing of wires and cables wire in India. Our promoters are in business of wires and cable wire since 1997.
The registered office and manufacturing plant of our Company is situated at Gondal, Rajkot, Gujarat. We manufacture Power and Control Cables, House Wires/ Building Wires, Flat Cables for Submersible pumps and Aerial Bunched cables under the brand name "SIGMA".
We strive to achieve quality by maintaining consistency in our products. Our Company procures major raw material i.e. Copper and Aluminium Coil from Ultracab (India) Limited. Our Group Company other raw materials like PVC and XLPE are procured domestically.
Our manufacturing facilities are equipped with in-house testing laboratory to ensure that the finished products match the quality standards and certifications as specified. Before commencement of the manufacturing process, the raw materials procured by also undergoes a quality check conducted by our in house testing laboratory to ensure that the same matches the quality standards required in our finished products. Testing of products takes place during different levels of our manufacturing process to ensure that any errors or quality defects in the products can be rectified on a real time basis and the final output is again checked by our testing laboratory before it is finally packed and dispatched.
We are an ISO 9001:2015 complied Companies and follow strict quality standards during manufacturing process. Once the product is ready, it is checked for safety and quality assurance. Our facilities involve technology, tools, machines which spin out the quality standard of cables.
We believe in making strong bond with our customers for continuing long lasting relationship with them. We also offer customized solution to our clients at competitive prices.
We have recently incorporated wholly owned subsidiary Company under the name of Jigar Polymers Limited, for manufacturing of PVC and XLPE. Thus we strive to achieve operational efficiency by backward integration. Post commencement of business of Jigar Polymers Limited, all major raw materials required in manufacturing of our products would be in house which would allow us to provide utmost quality and consistency to our customers.
Our Company focuses on serving the changing and evolving needs in the cable and wire industry. Customer focus, Creativity, Quality consciousness, innovative marketing strategies and adherence to fair practices has always been the Companys overall philosophy.
SEGMENT WISE PERFORMANCE
During the year under review, Company has achieved all sales through only one segment and hence segment wise break up is not available.
RISK AND CONCERN
Our business is subjected to various risks and uncertainties. Our results of operations and financial conditions are affected by numerous factors including; Increase in raw material price, Dependency on Group Company for raw material [like Copper and Aluminium], various policy of the Government, and rapid changes in technological advancement. As a responsible management, the Companys principal endeavour is to maximize returns. The Company continues to take all steps necessary to minimize losses through detailed studies and interaction with experts.
OPPORTUNITIES AND THREATS
The wire & cable industry in India has transformed from being a small to a large industry over the last decade. Today, power sector is the biggest driver in the mainstay of cable demand, accounting for more than three quarters of the market.
The following factors have been considered for determining the materiality of Threat/Risk Factors:
General economic and business conditions in the markets in which we operate and in the local, regional, national and international economies;
Changes in laws and regulations relating to the sectors/areas in which we operate;
Changes in technology advancement.
Fluctuation in raw material prices
DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The turnover of the company for the year ended 31st March, 2018 was Rs. 1984.69 Lacs as against the previous years turnover of Rs. 125.48 Lacs. The profit after taxation for the year under review was Rs. 34.628 lakh as compared to Rs. 2.859 lakh for the preceding year.
INTERNAL CONTROL SYSTEMS
The Companys internal control systems are commensurate with the nature of its business and the size and complexities of its operations. The internal control system of the Company is geared towards achieving efficiency in operations, effective monitoring and compliances with all applicable laws and regulations. These systems are designed to ensure that all assets of the Company are safeguarded and protected against loss and that all transactions are properly authorised, recorded and reported.
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT
As the Company continues to grow the focus has been on enhancing morale and capabilities of employees. The staff and workers are provided orientation and training for the development of soft and hard skills on a regular basis. Human Resource is a precious asset of your Company. Efforts are made to improve the performance, providing work satisfaction and performance based increments, safety and social status. The Industrial relations remained cordial at all organizational levels and work places. The Company makes regular efforts to maintain relation with Stakeholders by transparency, good governance, regular communication and effective transactions.
Statements in the Management Discussions and Analysis Report in regard to projections, estimates and expectations may be "forward looking statement" within meaning of applicable securities laws and regulations. Many unforeseen factors may come into play and affect the actual results, which would be different from what directors envisage in terms of future performance and outlook. Market data and product information contained in this report have been based on information gathered from various sources published and un-published reports, and their accuracy, reliability and completeness cannot be assured.
|For and on Behalf of the Board,|
|JIGAR CABLES LIMITED|
|VIJAY GOPABHAI SHINGALA|
|Chairman & Managing Director|