Kome on Communication Ltd Management Discussions.
A) FAST FORWARD LOOKING STATEMENTS:
Statements in this Management Discussion and Analysis of financial Condition and results of Operations of the Company describing the Companys objectives, expectations or predictions may be forwarded looking within the meaning of applicable securities laws and regulations. Forward looking statements are based on certain assumptions and expectations of future events.
The Company cannot guarantee that these assumptions and expectations are accurate or will be realised. The Company assumes no responsibility to publicly amend, modify or revise forward-looking statements on the basis of any subsequent developments, information or events. Actual results may differ materially from those expressed in the statement. Important factors that could influence the Companys operations include such allegation, charges levied by the regulatory authority, changes in government regulations, tax laws, economic developments within the country and such other factors.
The financial statements are prepared on accrual basis of accounting and in accordance with the provisions of the Companies Act, 2013, (the Act) and comply with the IND AS read with Companies (Accounting Standards).The Management of Kome-on Communication Limited has used estimates and judgments relating to the financial statements on a prudent and reasonable basis, in order that the financial statements reflect in a true and fair manner, the state of affairs and profits for the year. The following discussions on our financial condition and results of operations should be read together with financial statements and the SCHEDULES to these statements included in the Annual Report.
Unless otherwise specified or the context otherwise requires, all references herein to we, us, our, the Company, Kome-on, kcl are to Kome-on Communication Limited.
B) INDUSTRY STRUCTURE AND DEVELOPMENTS, OPPORTUNITY AND THREATS, PERFORMANCE OUTLOOK AND RISKS AND CONCERNS:
The philosophy is backed by principles of concern, commitment, ethics, excellence and learning in all its acts and relationships with stakeholders, customers, associates and community at large which has always propelled the Company towards higher horizons.
From our last year performance outlook report, you all shall appreciate that the exploration activities in the Electronic Media Industry had shown signs of improvement in Domestic market of event & reality based program followed by public responses through SMS, Telephones, email etc. which has great mileage in the viewer ship of channels. It is being observed that very next program shown on the channels is event & reality based. Therefore, looking to the great demand, Company has eventually entered into consulting the event & reality based programs.
The Company faces threat due to high domestic & international competitors & regular advancement in technology. The Company also faces threat from piracy, coping of creative idea, by an individual, Company or any person related to the field.
C) INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Internal Control System comprises of exercising controls at various stages and is established in order to provide reasonable assurance for:
i) Safeguarding Assets and their usage.
ii) Maintenance of Proper Accounting Records and Adequacy and Reliability of Information used for carrying on Business Operations.
The Key elements of the system are as follows:
a) Existence of Authority Manuals and periodical updating of the same for all Functions.
b) Existence of Clearly defined Organizational Structure and Authority.
c) Existence of Corporate Policies for Financial reporting and Accounting.
d) Existence of Management Information System updated from time to time as may be required
e) Existence of Annual Budgets and Long Term Business Plans.
f) Periodical Review of Opportunities and Risk Factors depending on the Global/Domestic Scenario and to undertake measures as may be necessary
D) HUMAN RESOURCES DEVELOPMENT AND INDUSTRIAL RELATIONS:
The Company continued with its Policy of Human Resources Development and retention. To enrich the skills of employees and enrich their experience, the Company arranges practical training courses by internal faculty. The Company is maintaining good employee relations and no man days are lost during the year due to employees unrest.
|By Order of the Board of Directors|
|For Kome-On Communication Ltd|
|Mr. Gajendra Salvi|
|Chairman Cum Managing Director|
|Date : 21st August, 2019|
|Valsad, Gujarat - 396001|