Today's Top Gainer
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INDUSTRY STRUCTURE AND DEVELOPMENTS:
The current situation is a developing mixed economy. The Indias 2017-18 union budget impetus for an economic recovery after demonization. We shall continue to undertake many more measure to growth the company by way of putting efforts to ensure the interest of stakeholders. Always focused to do the business in ethically, transparent manner and by looking the futuristic goal of the company.
We appreciate the 2017- 18 union budget, because the budget is in line the agenda to Transform, Energies and Clean (TEC) India with plan to fight black money, digitize the economy and improve the easing doing of business by reducing the administrative burden. We thanks the government for cutting in tax rate for stimulating growth and ease doing of business as per the agenda, the government has reduced the corporate tax rate. To attract or driven the direct investments into India, the government further liberalize the countrys Foreign Direct Investment (FDI) policy. We again appreciate the 2017-18 union budget, because the government has proposed an outlay of Rs. 7,148 crore for the textile sector, especially for the apparel and made up segments in 2018-19. This will give much needed impetus to the apparel and fabric sector in the country. This sector is highly fragmented with a lot of small and medium enterprises (SMEs), and growth has been volatile in the last 3 years due to weakening of rupee, GST and demonetization.
However, the statement made in this Management Discussion and Analysis Report describing the Companys objectives, expectations or predictions may be forward looking within the meaning of applicable laws, rules and regulations framed thereunder. Actual results may differ from such expectation whether express or implied. Several factors that could impact on the Companys operations such as Government changes policy, regulations, tax laws, International law or Market, economic development within the country and other factors etc.
OPPORTUNITIES AND THREATS:
Some of the key trends of the industry that are favorable to the company to exploit these emerging opportunities are:
Clients are more comfortable with uniform high quality and quick service and process across the enterprise. There are good prospects for expanding further activities in this direction.
Some of the key changes in the industry unfavorable to the company are:
Heightened competition Increasing Compliances Attraction and retention of human capital. Regulatory changes
RISK & CONCERNS
In line with the regulatory requirements, the Company has framed a Risk Management Policy to identify and access the key business risk areas and a risk mitigation process. A detailed exercise is being carried out at regular intervals to identify, evaluate, manage and monitor all business risks. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined framework.
In todays complex business environment, almost every business decision requires executives and managers to balance risk and reward. Effective risk management is therefore critical to an organizations success. Globalization with increasing integration of markets, newer and more complex products and transactions and an increasingly stringent regulatory framework has exposed organizations to and integrated approach to risk management. Timely and effective risk management is of prime importance to our continued success. The sustainability of the business is derived from the following:
Identification of the diverse risks faced by the company.
The evolution of appropriate systems and processes to measure and monitor them. Risk Management through appropriate mitigation strategies within the policy framework.
Monitoring the progress of the implementation of such strategies and subjecting them to periodical audit and review. Reporting these risk mitigation results to the appropriate managerial levels. There is the risk of loss from inadequate or failed systems, processes or procedures. These may be attributed to human failure or technical problems given the increase use of technology and staff turnover. Your company has in place suitable mechanisms to effectively reduce such risks.
All these risks are continuously analyzed and reviewed at various levels of management through an effective information system.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
Internal control systems are embedded in the processes across all functions in the Company. These systems are being regularly reviewed and wherever necessary are modified or redesigned to ensure better efficiency and effectiveness. The systems are subjected to supervision by the Board of Directors and the Audit Committee, duly supported by Corporate Governance. Company complies with all Applicable statutes, policies, procedures, listing requirements and management guidelines. It adheres to applicable accounting standards and polices.
Your Company treats its human resources as its important asset and believes in its contribution to the all round growth of your Company. Your Company takes steps, from time to time, to upgrade and enhance the quality of this asset and strives to maintain it in agile and responsive form. Your Company is an equal opportunity employer and practices fair employment policies. Your Company is confident that its Human Capital will effectively contribute to the long term value enhancement of the organization. Your Directors further states that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
The Company operates in two reportable segments i.e. Commodity Business and Finance Business. The Business Segments has been identified as separate segment in accordance with Accounting Standard 17 Segment Reporting.
As there are no subsidiaries of the Company, Investment made in Subsidiaries is NIL.
This report contains forward-looking statements based on certain assumptions and expectations of future events. Actual performance, results or achievements may differ from those expressed or implied in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking.
|BY ORDER OF THE BOARD|
|For Moryo Industries Limited|
|Prasad Budhakar||Pallavi Girkar|
|DIN: 07456374||DIN: 07456394|