Today's Top Gainer
Note:Top Gainer - Nifty 50 More
(Annexure to Director Report)
Forward Looking Statements:
This Report contains forward Looking Statements. Any, statement that address expectations or projections about the future, including but not limited to statements about the Companys strategy and growth, product development, market position, expenditures and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future growth. The Company cannot guarantee that these assumptions are accurate and will be realized. The Companys actual results, performance or achievements could thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on basis of any subsequent developments, information or events.
During the financial year under review the revenue from operations has increased from Rs. 50.38 Lacs to Rs. 174.49 Lacs
The Company is mainly engaged in the business of financing and investment in bodies corporate in order to yield greater revenue for its stakeholders. The Company is planning to expand and diversify the operational activities in the coming years ahead in order to tap higher revenues.
Risk and Concerns:
Due to stiff competitions in the finance field where the companys activities are centered in, the overall margins are always under pressure, but maintainable with the constant effort and good services rendered by the company.
Internal Control Systems and their Adequacy:
An Audit Committee of the Board of Directors of the Company has been constituted as per provisions of the Companies Act, 2013 and SEBI (LODR), 2015.
The Internal Audit Function is looked after internally by the finance and accounts department, and reviewed by the audit committee and the management at the regular intervals.
The Internal Auditors Reports dealing with Internal Control Systems are considered by the Audit Committee and appropriate actions are taken, whichever necessary.
Analysis of Financial Conditions and Results of Operations:
The Financial Statements have been prepared in accordance with the requirements of the Act, Indian Generally Accepted Principles (Indian GAAP) and the Accounting Standards as prescribed by the Institute of Chartered Accountants of India. The Management believes that it has been objective and prudent in making estimates and judgments relating to the Financial Statements and confirms that these Financial Statements are a true and fair representation of the Companys Operations for the period under review.
Development on Human Resource Front:
Our human resources are critical to our success and carrying forward our mission. With their sustained, determined and able work efforts we were able to cruise smoothly through the hard time of the economic volatility and rapidly changing market conditions. The requirement of the markets given the economic scenario has made this even more challenging. Attracting newer talent with the drive, training and upgrading existing skill sets and getting all to move in an unified direction will definitely be task in the company. Plans to execute the mandate on this count are already underway and we should see it impacting the results from the third quarter of the next financial year. By creating conducive environment for career growth, company is trying to achieve the maximum utilization of employees skills in the most possible way. There is need and the company is focused on retaining and bringing in talent keeping in mind the ambitious plans despite the market and industry scenario. The company also believes in recognizing and rewarding employees to boost their morale and enable to achieve their maximum potential. The need to have a change in the management style of the company is one of the key focus areas this year.
Industrial Relations throughout the year continued to remain very cordial and satisfactory.
F. DISCLOSURE AS PER SEBI (LODR), REGULATIONS, 2015 IN RESPECT DEMAT SUSPENSE ACCOUNT/UNCLAIMED SUSPENSE ACCOUNT
The listed entity need to disclose the following details and as long as there are shares in the demat suspense account or unclaimed suspense account:
|1.||Aggregate number of shareholders and the outstanding shares in the suspense account lying at the beginning of the year||NIL|
|2.||Number of shareholders who approached listed entity for transfer of shares from suspense account during the year||NIL|
|3.||Number of shareholders to whom shares were transferred from suspense account during the year||NIL|
|4.||Aggregate number of shareholders and the outstanding shares in the suspense account lying at the end of the year||NIL|
|5.||That the voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares||NIL|
|Date: August 24, 2017||For and on behalf of the Board of Directors|
|Atul C. Doshi|
|Chairman & Managing Director|
|DIN NO.: 06826992|