Today's Top Gainer
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OVERVIEW OF GLOBAL TRADE AND DEVELOPMENT
The global economic slowdown that began during the end of the year has continued throughout 2012-2013 and the same trend is still persisting during the current year (2013-2014). The overall economic activities around the globe have slowed down further, growth rates in the developed as well as emerging markets have fallen as they are still continuing their struggle to come out of the depressing economic environment. All the major economics, namely, US, China, India Japan etc are impacted.
INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
MITL s well defined organization structure, documented policy guidelines, predefined authority levels, and an extensive system of internal controls ensure optimal utilization and protection of resources, IT security, accurate reporting of financial transactions and compliance with applicable laws and regulations.
MITL has adequate systems of internal control in place. This is to ensure that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are authorized, recorded, and reported correctly.
MITL has an exhaustive budgetary control system. Actual performance is reviewed with reference to the budget by the management on an on-going process basis.
The internal audit function is empowered to examine the adequacy, relevance and effectiveness of control systems, compliance with policies, plans and statutory requirements.
The top management and the Audit Committee of the Board review the findings and recommendations of the internal audit panel.
OUTLOOK, OPPORTUNITIES AND THREATS
The Company is continuously making sincere efforts to achieve the growth in the business.
During the year under review the revenue from operations shows a step upward trend of Rs. 1,29,73,637.60/- as compared to previous year of Rs. 89,65,100/-. However the net profit after tax of Rs.2,99,300.14/- as compared to previous year of Rs. 2,87,494/-.
The Company mainly expose to market risk (including liquidity risk), interest risk and credit risk.
The Company, in its stand alone position, has made post-tax profits of Rs.2,99,300.14/-. Other income is Rs. 7,30,892.50/-.
HUMAN RESOURCE /INDUSTRIAL RELATIONS
Your Company firmly believes that success of a company comes from good Human Resources. Employees are considered as important assets and key to its success. HRD has been strengthened for sourcing and developing high caliber employees providing them relevant training for encashment of their competence and facilitating their assessment process through an effective Performance Management System (PMS). Company aims to remain lean and dynamic in a continuing de-layered structure. The Employee relations continued to be satisfactory.
Statement in the Management Discussion and Analysis describing the Company s objectives, projections, estimates, expectation may be "forward looking statements" within the meaning of applicable statutory laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company s operations include economic conditions and price conditions in the domestic and overseas markets in which company operates, changes in the Government regulations, tax laws and other statutes and other incidental factors.
|By Order of the Board of Directors|
|MAHADUSHI INTERNATIONAL TRADE LIMITED|
|Place: New Delhi||Sd/-||Sd/-|
|Date: 23.07.2014||Dharmendra||Raju Yadav|