Today's Top Gainer
Note:Top Gainer - Nifty 50 More
1. NEW DEVELOPMENTS AND OUTLOOK
The Indian economy is witnessing a positive transformation with bold and decisive measures undertaken by the Government that is facilitating it in unleashing the countrys potential. The Indian government has also embarked on an ambitious plan to make India an e-mobility country by 2030.
The dynamics of the Global electric vehicle market are changing rapidly nowadays. Battery technology is advancing quickly and it is anticipated that by 2024 the fueling times between the Electric Vehicles (EV) and traditional fossil fuel dependent vehicles would be at par. In the last financial year the sales of Electric Vehicles in our country crossed 1 million units for first time. Under the current growth trajectory, EV producers could almost quadruple that achievement moving towards 4.5 million units, around 5 percent of the overall global light vehicles market, by the year 2020. Further innovative concepts like battery swapping and charging stations will encourage the users to shift to electric vehicles.
At OK PLAY, we are working to integrate our electric vehicles with Lithium-Ion batteries to make our vehicles more compatible with different technological requirements including battery swapping. The company is in an advanced stage of development of the L5 category of electric vehicle. These vehicles are specially designed for the Indian market keeping in view the Indian road and weather conditions. Advanced safety systems as well as the next generation telematics have been designed and developed and our vehicles compare most favourably with some of the best in the world. The company is now working on development of other variants of electric vehicles including heavy loaders etc.
The demand for the plastic fuel tank and other automotive components is also increasing as a result of the impending implementation of the BS VI emission norms from 1st April 2020. The company is also exploring opportunities for export of its products.
The management of the company is very confident that with the inherent innovative designing capabilities and skills coupled with the vast experience it has gained, the company is competent to provide product solutions to address the requirements of the future.
2. PERFORMANCE GOALS
The Government of India has set an ambitious target of increasing the GDP share of manufacturing industry from its current stagnant 16% to 25% by 2025. So far, the complex tax structure had been one of the main reasons affecting the progress of the Indian manufacturing sector. Now with the implementation of the unified tax system - GST, the manufacturing sector is set for an overall revival. The company is now looking to benefit from the environment of lower production cost, operations cost and logistics cost, as well as reduction in the time spent on compliances. The company, thus, anticipates a strong growth trajectory and is confident on achieving robust growth under the new taxation system.
3. SEGMENT WISE PERFORMANCE
The company manufactures a wide range of plastic moulded products including toys, children playground equipment, school furniture and automotive components. All the operations of the company have been considered as a single business segment due to homogeneity of plastic products.
4. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY
The company has an adequate and effective system of internal checks and controls to ensure proper accounting and utilization of all assets.
The internal financial control system is commensurate with the size and scale of operations of the company. The system and controls are periodically reviewed and modified based on the requirement.
5. HUMAN RESOURCES/ INDUSTRIAL RELATION
OK PLAY believes that the employees form the basis for growth. OK PLAY places employee engagement, development and retention of talent as its highest priority, to help achieve its organizational goals.
The company also has an established rewards and recognition policy. The companys management firmly believes that for the success of any organization, cordial industrial relations are essential. Over the years the management has made sincere and continued efforts for the development of an atmosphere of mutual cooperation, confidence and respect. As on 31st March, 2018, the company had 234 permanent employees.
6. CAUTIONARY STATEMENT
Statement in this Management Discussion and Analysis Report containing the Companys objectives, expectations, projections, estimates about the Companys strategy for growth, product development, market share, controls may be forward looking statement within the meaning of applicable securities laws and regulations.
Forward Looking Statements are based on certain assumptions and expectations of future events. Actual results could differ materially from those expressed or implied, depending upon economic conditions, demand, supply, change in government policies, price conditions, political conditions, economic scenario and various other incidental factors within or outside the country.
|Place: Tehsil Nuh, Dist. Mewat||Rajan Handa|
|Date: 04.09.2018||Managing Director|