Today's Top Gainer
Note:Top Gainer - Nifty 50 More
INDUSTRY STRUCTURE & DEVELOPMENT:
During the year under review, global economic activity lost its momentum, resulting in a synchronized slowdown across advanced and emerging market economies. The Indian Economy in FY 19 displayed different trends. With the first half of the financial year GD growth was strong at 7.5 % while in the second half of the financial year, Indias growth momentum slipped off due to rising interest rates. Tight liquidity conditions and rising risk averseness. With this your company has diversified into various segments related to Engineering Goods, Electric Heat Tracing and Turnkey Projects through its subsidiary and has strong legacy of fair, transparent and ethical business practices. The sector is witnessing exponential traffic growth and the company through its subsidiary has been systematically investing for the product development to increase the capacity in its existing infrastructure to create new products.
The large opportunities exist in the industry and the demand for the companys products and services have increased. The Financial Year 2019-20 has started with the hope of the economy getting revived due to policies expected to be implemented by the government. The effect on the business scenario has yet to be felt.
The Regulatory Authorities are following more stringent compliances norms for approving various business activities. The market conditions have become more competitive and costs are continuously increasing. The challenges are there from well-established large organized companies who can compete with other companies at low prices.
There is adequate internal control system in the company through internal Audit and regular operations review.
Maintenance of records showing full particulars of fixed assets and physical verification of such assets from time to time designed to cover all items.
Periodical physical verification of stocks during the year and adjustment of discrepancies between the physical verification and the books are recorded appropriately.
Generation of various reports to monitor various statutory and other compliances.
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:
During the year the sales turnover was Rs. 2158 lacks as against Rs. 1608 lacks for the previous year. . Considering the overall improvements in the sectors related to the Engineering Goods, Electric Heat Tracing and Turnkey Projects , it will give further improved results in the current year.
The human capital of the company has been motivated and committed to bring good operating performance. The company continues to put concerted efforts in recruiting quality people. Development programmes remains the Key focus areas for the company.
Certain statements made in the Management Analysis and Report relating to Companys, projections, outlook, expectations, estimates etc., may constitute forward looking statement considering the applicable laws and regulations. Actual results may differ from such projections etc.
Several factors could make a significant difference to the companys operations. These include climatic conditions, economic conditions, Government regulations and taxation, natural calamity etc., which are beyond the Control of the company.