Orissa Bengal Carrier Ltd Management Discussions.
Industry Structure and Developments:
Our Company was originally incorporated on October 18, 1994 as Orissa Bengal Carrier Private Limited under the provisions of Companies Act, 1956 with Registrar of Companies, Madhya Pradesh, Gwalior. Our Company was converted into a Public Limited Companyon November 05, 2009 and the name of our Company was changed to "Orissa Bengal Carrier Limited" vide a fresh Certificate of Incorporation dated December 09, 2009, issued by the Registrar of Companies, Madhya Pradesh and Chhattisgarh, Raipur. Our Company is engaged in Transportation & Logistics Business and has completed more than 23 years since incorporation. We are one of the logistics company headquartered at Raipur, Chhattisgarh, serving a broad range of industries, including the steel, coal, aluminum, cement, petrochemicals, paper, marble, tiles, infra, textile, FMCG.
The various types of services provided by us include: Full Truck Load Transport Services, Parcel and Part Truck Load Services/ less than Truck Load (LTL). The main business activity of our company is Full Truck Load Transport service wherein we do transport the consignment by road all over India. We are one of the IBA approved transporter having ISO 9001:2015 certification for provision of Quality Management System Service. Our registered office is located at Jiwan Bima Marg, Pandri, Raipur, Chhattisgarh, India. Pin code - 492001.
Our Corporate office situated at A1, 3rd Floor C.G. Elite complex, Opposite Mandi Gate, Vidhan Sabha Road, Pandri, Raipur- 492001. Our Promoter, Shri Ratan Kumar Agrawal plays a crucial role in the Administration & Fleet Management of our Company and operates from our Head office. He has experience of around 24 years in transport and logistics industry and did his matriculation from Haryana Board in the year 1972. He has been Director of our Company since incorporation. Our Company is also promoted by Smt. Shakuntala Devi Agrawal, wife of Shri Ratan Kumar Agrawal. She joined our company since incorporation and involved in all day to day activities of our Company. Later on Shri Manoj Kumar Agrawal Brother of Shri Ratan Kumar Agrawal joined our Company.
He has an experience of more than 20 years in transport and logistics industry. He has been instrumental in the growth and strategy of our business. He currently looks after the operation of Western Region of India from our office at Nagpur. He is an expert in human resources and human relations. He has been on the board since April 7, 1997. Recently Mr Ravi Agrawal also joined the Company as a Wholetime Director of the Company. He is a Master in International Business studied in Australia and a commerce graduate and having more than 11 years experience in the field of Accounts, Finance & marketing. We also provide services by vehicles hired by us to provide timely and quality services to our clients. The variety of goods transportation vehicles in our fleet and vehicles hired by us also enables us to serve a diverse mix of consignments. Our management believes that the operations with market fleet are more covenants to operate which improve the efficiency and also reduces the operational cost of the Company.
We believe that our management teams experience and their understanding of our business and industry will enable us to continue to take advantage of both current and future market opportunities. Our experience together with our consistent and successful track record of timely delivery and customer satisfaction provides us a competitive edge.
Opportunities & Strength:
? Rich and Diversified Customer Base.
? Established Marketing Setup.
? Quality of Services.
? Strategic Location.
? Vast area of Operation.
Threats & Risks:
? Changes in Government or Regulatory Policies.
? Changes in Economic Growth.
? Changes in Physical Infrastructure.
? Changing laws, rules and regulations and legal uncertainties.
? Probability of downgrading of Indias debt rating.
Internal Control Systems and their adequacy:
There is an adequate internal control procedures commensurate with the size of the company and nature of the business for inventory, fixed assets and for the sale of goods or services. The Company has implemented proper and adequate systems of internal control to ensure that all assets are safeguarded and protected against loss from any authorized use or disposition and all transactions are authorized, recorded and reported correctly. The system ensures appropriate information flow to facilitate effective monitoring. The internal audit system also ensures formation and implementation of corporate policies for financial, reporting, accounting and information security. The company has constituted Audit committee to overlook the internal control systems and their adequacy. Audit committee regularly reviews and gives recommendations on proper and adequate internal control systems.
During the Year under review, Your Company has recorded Revenue from Operation of Rs. 48831.30Lacs and Net Profit after Tax of Rs. 1063.55 Lacs as compared to previous year of Rs. 38438.98 Lacs and Rs. 638.09 Lacs respectively. Your directors are of the view that the company has signaled good progress and will continue to access the path of success in succeeding financial years and are hopeful for the bright future prospects. It is also assured that the Management will leave no efforts untouched to increase the profitability in the forth coming years also.
We believe that a motivated and empowered employee base is key to our operations and business strategy, and have developed a large pool of skilled and experienced personnel. As of March 31, 2019 we have 98 employees, who are based at different locations across the country. Our administrative employees play an important role in our centralized support services such as load planning, accounting, information technology, marketing and human resource functions. We have developed a decentralized senior management structure in order to ensure timely decision making which is key to our operations. The recruitment, training and retention of qualified drivers are essential to our growth and to meet the service requirements of our customers.
We also provide our drivers with comfortable equipment, effective training, direct communication channels with senior management, competitive incentives based on distance travelled, fuel efficiencies and timely delivery and / or route schedules. Drivers also receive awards for providing superior service and developing satisfactory safety records.
All statements made in Management and Discussion Analysis has been made in good faith. Many unforeseen factors may come into play and affect the actual results, which may be different from what the management envisages in terms of performance and outlook. Factors such as economic conditions affecting demand/supply and priced conditions in domestic markets in which the company operates, and changes in government regulations, tax laws, other statues and other incidental factors, may affect the final results and performance of the Company.