Today's Top Gainer
Note:Top Gainer - Nifty 50 More
(As per Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)
At Linear Industries Limited (LIL), corporate sustainability is demonstrated through (a) fair, transparent and ethical governance, (b) engagement with marginalized and vulnerable communities, (c) adherence to and respect for all human rights, (d) reduction of impact of its operations on the environment and (d) promotion of employee well-being and safety.
Management discussion and analysis report reflecting theperformance and outlook including the future prospects for theCompany is presented herewith.
(a) Industry Structure and development:
The company has made a loss during the year and as the recession is continuing to affect the industries all-round the company is also affected. It is expected that the company would in near future would make profits to offset the losses incurred and on the path of recovery.
(b) Opportunities and Threats:.
The company is likely to start its main business activities in the near future but due to the present conditions prevailing the directors feel that the company should continue in its present activity for some more time. However the directors are hopeful they would start the core business in near future.
(c) Segment wise or product-wise performance:
There was no production activity carried out during the financial year.
The company is confident in spite of the possible recessionary conditions in the industry it will perform better in view of the strong fundamentals of the Indian companies and hope to improve its Turnover.
(e) Risks and concerns:
The Board of the Company has formed a risk management policy to frame, implement and monitor the risk management plan for the Company. The Board of Directors are responsible for reviewing the risk management plan and ensuring its effectiveness. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis.In compliance with the requirement of the Companies Act, 2013 and Listing Agreement guidelines, the Company has established a Whistle Blower Policy /Vigil mechanism Policy and the same is placed on the website of the Company.
In the opinion of Board the rising costs and changing government policies and regulations are the key risk factors that may threaten the existence of the company.
(f) Internal control systems and their adequacy:
The company has adequate internal control systems to ensure operational efficiency, protectionand conservation of resources, accuracy and promptness in financial reporting and complianceof law and regulations. The internal control system is supported by the internal audit process.The Audit Committee of the Board reviews the Audit reports and the adequacy andeffectiveness of internal controls.Further Internal Audit systems will also be placedand proposed to be carried out to check the implementation and working of the InternalSystems.
(g) Discussion on financial performance with respect to operational performance:
There was no activity carried out during the financial year.
(h) Material developments in Human Resources / Industrial Relations front, including number of people employed:
The relationship with the employees continues to be cordial. The Company recognizes the importance and contribution of its employees for its growth and development and constantly endeavors to train nurture and groom its people. The Company puts emphasis on attracting and retaining the right talent. The company places emphasis on training and development of employees at all levels and has introduced methods and practices for Human Resource Development. There is currently 1 employee in the company.
|Place: Mumbai||For Linear Industries Limited|