overseas synthetics ltd Management discussions


Forward Looking Statements:

This Report contains forward Looking Statements. Any statement that addresses expectations or predictions about the future, including but not limited to statements about the Companys strategy and growth, product development, market position, expenditures and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future growth. The Company cannot guarantee that these assumptions are accurate and will be realized. The Companys actual results, performance or achievements could thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on basis of any subsequent developments, information or events.

Industry Structure and Development:

Healthcare industry is a wide and intensive form of services which are related to well-being of human beings. Health care is the social sector and it is provided at State level with the help of Central Government. Health care industry covers hospitals, health insurances, medical software, health equipment and pharmacy in it. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.

Industrial Relations

The relationship with the workmen and staff remained cordial and harmonious during the year and the management received full cooperation from the employees. The Company continues to focus on extensive training and developmental activities and efficiency and quality improvement initiatives.

Opportunities & Threats:

The Company is expecting good opportunities in the upcoming financial year. However, threats are perceived from its existing and prospective competitors in the same field also the changes in the external environmental may also present threats to the industry i.e. Inflationary pressures, slowdown in policy making, Competition from local and multinational players, Execution risk, Regulatory changes, Attraction and retention of human capital are the major setbacks.

Segment /Product wise performance:

Indian healthcare market is expected to rank amongst the top three in terms of incremental growth by 2020. India was the sixth largest market globally in terms of size in 2014. Indias healthcare industry has been growing at a Compound Annual Growth Rate of around 22% since 2016. Healthcare has become one of the largest sectors of the Indian economy, in terms of both revenue and employment. In the Economic Survey of 2023, Indias public expenditure on healthcare stood at 2.1% of GDP in 2022-23 against 2.2% in 2021-22. In Union Budget 2022-23, Rs. 86,175 crore was allocated to the Ministry of Health and Family Welfare (MoHFW). Within the emerging trends of investment and consolidation in healthcare, we see a strong focus on category leaders, which is essentially companies that are proven leaders in their segments and are better placed to benefit not only from internal efficiencies and external tailwinds, but also withstand macro or external headwinds. Also, this provides a clear path to increasing earnings through not only organic growth, but also future acquisitions in domestic and international markets based on suitable strategies.

Outlook:

The Company is mainly engaged in the business of healthcare and related activities. The Company is planning to expand and diversify the operational activities in the coming years ahead in order to tap higher revenues.

Risk and Concerns:

Risks are integral part of any enterprise. Efficient management of business risks is a key factor that determines growth, profitability and at times, even survival. In the last few years, the healthcare industry in India has been witnessing increased consolidation even among the larger players. Further, Government intervention, by way of an active regulatory regime, be it in terms of price control or capping of margins on medicines has been stepped up. State and Central Healthcare coverage schemes are also impacting industry margins.

Internal Control Systems and their Adequacy:

The Company has in place adequate internal control systems covering all its operations. Proper accounting records highlight the economy and efficiency of operations, safeguarding of assets against unauthorized use or losses, and the reliability of financial and operational information.

Some of the significant features of internal control system are:

? Financial and Commercial functions have been structured to provide adequate support and control of the business.

? Risk Management policy has been adopted by the Company.

The Company has an Internal Audit System conducted by the internal auditor of the Company. Standard operating procedures and guidelines are reviewed periodically to ensure adequate control.

Analysis of Financial Conditions and Results of Operations:

The Financial Statements have been prepared in accordance with the requirements of Indian Accounting Standards and the Accounting Standards as prescribed by the Institute of Chartered Accountants of India.

The Management believes that it has been objective and prudent in making estimates and judgments relating to the Financial Statements and confirms that these Financial Statements are a true and fair representation of the Companys Operations for the period under review.

Development on Human Resource Front:

We believe that we are able to attract and retain highly skilled specialist physicians for clinical excellence, our technology - focused approach, the exposure and experience we provide in relation to clinical best practices and the training programmes we offer for their ongoing development. We believe that the abilities and expertise of our team of specialist physicians differentiate us relative to our competitors.

By creating a conducive environment for career growth, company is trying to achieve the maximum utilization of employees skills in the most possible way.

There is need and the company is focused on retaining and bringing in talent keeping in mind the ambitious plans despite the market and industry scenario. The company also believes in recognizing and rewarding employees to boost their morale and enable to achieve their maximum potential. The need to have a change in the management style of the company is one of the key focus areas this year.

Industrial Relations:

Industrial Relations throughout the year continued to remain very cordial and satisfactory.

Key financial ratios:

Sr. Particulars of Ratio 31.03.2023 31.03.2022
No
(In %) (In %)
1. Current Ratio 1.73 2.20
2. Debt-wise Ratio 0.76 0.44
3. Return on Equity Ratio 0.19 0.15
4. Net Capital Turnover Ratio 5.96 3.15
5. Net Profit Ratio 0.08 0.17
6. Return on Capital Employed 0.18 0.16

 

1. Inventory Turnover Ratio - -
2. Trade Payables Turnover Ratio 3.95 2.54
3. Trade Receivables Turnover Ratio 2.98 1.87

Details pertaining to Net-worth of the Company:

(In Lakhs)

Particulars

31.03.2023 31.03.2022

Explanation for change in Net-worth

(In Lakhs) (In Rs.)

Net-worth

729.11 591.19

The company has started to earn more profit as compared to previous year.

Disclosure of Accounting Treatment:

The Company has followed the same Accounting Standard as prescribed in preparation of

Financial Statements.

For and on behalf of the Board of Directors of

One Global Service Provider Limited

(Formerly Known as Overseas Synthetics Limited)

SD/-

SANJAY UPADHAYA

Managing Director

DIN: 07497306

Date: 12.08.2023

Place: Mumbai