oxford industries ltd share price Management discussions

MANAGEMENT DISCUSSION AND ANALYSIS

1. COMPANY AND INDUSTRY STRUCTURE AND DEVELOPMENT:

The company is operative in textile segment but does not have any manufacturing facility now. It has revived operations during the last quarter of current year 2022-23.

2. OPERATIONAL & FINANCIAL PERFORMANCE:

The company has revived its operations during the last quarter of current year 2022-23 and the net loss was Rs. 6.91 lakhs before and after exceptional items.

3. OTS / DRT CASE / OUTLOOK:

After completing OTS (One Time Settlement) with all five lenders during year 2020-21 and 2021-22, the recovery case filed by Indian Bank consortium under application no. 24 of 2011 before Debt Recovery Tribunal (DRT) No.2, Mumbai has been withdrawn as approved by DRT-2 Mumbai in order dated 18th May, 2022.The company has revived its operations during the last quarter of current year 2022-23 and hopes to continue its operations in foreseeable future.

4. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has proper and adequate systems of internal controls.

5. HUMAN RESOURCES:

The Company regards the human resource and considers them as most valuable asset of the organization and the key to bring in progress.

6. CAUTIONARY STATEMENT:

Statements in this report on Management Discussion and Analysis describing the Companys objectives, expectations or predictions may be forward looking statements within the meaning of applicable security laws or regulations. These statements are based on certain assumptions and expectations of future events. Actual results could however differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include global and domestic demand-supply conditions, finished goods prices, raw material costs and availability, changes in Government regulations and tax structure, economic developments within India and the countries with which the Company has business contacts and other factors such as litigation and industrial relations. The Company assumes no responsibility in respect of forward looking statements herein which may undergo changes in future on the basis of subsequent developments, information or events.