maestros electronics telecommun systems ltd Management discussions


INDUSTRY STRUCTURE AND DEVELOPMENT

The Companies growth considering the past few years performance has comparatively declined. The Company has been taking necessary steps for increasing its profits from year to year. The total revenue from the operation for the year ended March 31, 2023, amounted to Rs. 2,459.83 lakhs as against Rs. 1,114.54 lakhs in a previous Financial Year 2021-2022 and has increased by 120.70 % over the last year.

OPPORTUNITIES & THREATS

OPPORTUNITIES:

1. Concentrating in one sector makes the company mature in the industry and gain efficiency in operations.

2. Growing preference for online platform

3. Rural development THREATS

1. Competition from low cost imported products.

2. Manpower costs are rising as many large companies are mopping the available talent pool supply of which is limited. Thus, for small and mid-range companies, retaining high quality manpower is a concern

SEGMENT WISE OPERATIONAL PERFORMANCE

Your Company has two main segments of business viz. Electronics & Instrumentation (E&T) and Telemedicine. The Company is constantly striving to increase the performance of its both the segments, particularly Telemedicine.

OUTLOOK:

Your Company, keeping pace with the overall market scenario has grown significantly in the past years. Also, the financial performance of the Company has increased since the previous financial year. The Management expects further growth and improvement of the company within the years to come, subject to favourable market conditions, and stable economic policies.

RISKS AND CONCERNS:

All the promises which management is making, depends on the confidence and trust that the Shareholders bestow upon the management.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has in place adequate system of internal control. It has documented procedures covering all financial and operating functions. These controls have been designed to provide a reasonable assurance about maintaining of proper accounting controls, monitoring of operations, protecting assets from unauthorized use or losses, compliances with regulations and for ensuring reliability of financial reporting. The Company has continued its efforts to align all its processes and controls with global best practices in these areas as well.

HUMAN RESOURCES& INDUSTRIAL RELATIONS

Your Company continuously endeavours to improve the work environment for its employees. Competitive compensation package, innovative and challenging environment to work, transportation facilities, etc., are some

of the steps taken by the Company for the welfare of its employees. To keep the employees skill, knowledge and business facilities updated, on-going in house and external training is provided to the employees at all levels. The effort to rationalize and streamline the work force is a continuous process. The industrial relations scenario remained harmonious throughout the year.