Today's Top Gainer
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Company is mainly operating into the Trading of Textiles and chemicals. The key issues ofthe Management Discussion and Analysis are given below.
(a) Industry Structure and Developments
The Textile sector is showing excellent potential on back-up of increased purchasing capacity of middle income grouped and rural population. Even though poor monsoon hit the agricultural income; increased social schemes and other activities supported the rural income and in turn supported the textile sector in general.
Qualified professionals under an efficient Board of directors gives the company an edge over the competitors and a team of executives is the major strength ofthe Company.
Opportunities and Threats
We operate in a market characterized by swift changes and convergence. We face formidable competition in every aspect of our business; particularly from companies that seek to connect people across geographies over IP based communication and collaboration on multiple platforms. We do face competition from other traders domestically and internationally.
Your company however, has a well-integrated platform that will ensure we stay ahead ofthe curve. We are augmenting features and products to our existing products and own the complete value chain of products and services we address.
(d) Segment wise performance
The business of the Company falls under a single segment i.e. Trading on textile and chemicals for the purpose of Accounting Standard AS-17.
The Company is making all efforts to accelerate growth of its business. It expects to improve its position in the market by focusing on technologically advanced and more profitable products/market segments and working aggressively in the areas of productivity, efficiency and cost reductions.
(a) Risk and concerns
The market penetration by new entrants in the Companys business area and the strong hold of existing Big players in the market places hurdles in the growth path of the Company. However the company is aggressively using well talented employees and personal to establish new business areas and to develop existing market.
(b) Internal control system
Internal audit and other controls have been found to be adequate. These are reviewed periodically by the Audit Committee and found the performance satisfactory.
Company is known from its reputation which the company has earned dueto its quality business and cordial relation with its clients and presently the company istryingto expand its business into othertrans-European nations.
During the year, your Directors have constituted a Risk Management Committee which has been entrusted with the responsibility to assist the Board in (a) Overseeing and approving the Companys enterprise wide risk management framework; and (b) Overseeing that all the risks that the organization faces such as strategic, financial, credit, market, liquidity, security, property, IT, legal, regulatory, reputational and other risks have been identified and assessed and there is an adequate risk management infrastructure in place capable of addressing those risks. A Group Risk Management Policy was reviewed and approved by the Committee.
The Company manages monitors and reports on the principal risks and uncertainties that can impact its ability to achieve its strategic objectives. The Companys management systems, organizational structures, processes, standards, code of conduct and behaviors together form the Reliance Management System (RMS) that governs how the Group conducts the business of the Company and manages associated risks.
The Company has introduced several improvements to Integrated Enterprise Risk Management, Internal Controls Management and Assurance Frameworks and processes to drive a common integrated view of risks, optimal risk mitigation responses and efficient management of internal control and assurance activities. This integration is enabled by all three being fully aligned across Group wide Risk Management, Internal Control and Internal Audit methodologies and processes.
Statements in the Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectation may be forward looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied.