pratibha pipes structural pvt ltd Management discussions

PRATIBHA PIPES AND STRUCTURAL P. LIMITED ANNUAL REPORT 2004-2005 MANAGEMENT DISCUSSION AND ANALYSIS Operation The Company achieved a turnover of Rs. 707.36 Million (Previous Year 625.05) registering the growth of 13.17% on year to year basis. The net bottom line of the company increased from Rs. 15.29 Million in 2003 to Rs. 15.31 Million. The Directors have great pleasure to present the strong financial statements for the year ended on 31st March 2005. Human Resource Development Your Company believes in people power. It recognises the fact that people are key to its sustainable success. Consequently, an HR vision forms an integral part of your Companys overall business vision and strategy. Over the years, the company has facilitated goal achievement through efficient systems, sustained training and innovative management practices. Technological advancement and successful completion of complex and high technology demanding projects are supported by an ongoing recruitment of specialised talent and the retention of outstanding talent through regular training and performance recognition. The Company provides an invigorting workplace, including a pursuit of excellence. Its biggest strength is a transparent open door access to the top management as well as a flat and informal structure, facilitating the speedy redressal of issues. HR philosophy of the company is designed to emerge as an employer of choice through the attraction and retention of the best talent. Provide opportunity for continuous learning and contribution. Internal control system Management Information Systems (MIS) is the backbone of our control mechanism. Clearly defined roles and responsibilities down the line for all managerial positions have been institutionalised. All operating parameters are monitored and committed. Regular internal audits and checks ensure that responsibilities are executed effectively and that the MIS is flawless amongst well conceived annual planning and budgeting system. Any material change in the business outlook is reported to the Board. Material deviations from the annual planning and budgeting are informed to the Board on a quarterly basis. An effective budgetary control on all capital expenditure ensures that actual spending is in line with the capital budget.