Ramsarup Industries Ltd Management Discussions.
MANAGEMENT DISCUSSION AND ANALYSIS
Future of Indian steel industry looks encouraging due to reasonable GDP growth of India as we have a stable government at the Centre.
Major issues that have been affecting adversely the steel industry have been availability of Iron Ore & Coal. Iron ore availability has improved due to opening up of iron ore mines and drop in international prices.
International prices of both Coking coal and Steam coal has come down substantially which will help the bottom line of the steel industry.
The company is not expecting good performance during the year 2016-17.Once the revival and rehabilitation / settlement package of the company is submitted and approved by the appropriate authority/institutions the company has the knowledge, ability to get back to its glorious past in time to come.
A. Internal Control Systems
We have always believed in transparency, which is an important factor in the success and growth of any organisation. The Company has an adequate system of internal control supported by an extensive programme of internal control and systems are established to ensure that financial and other records are reliable for preparing financial statements. However, due to closer of the plant not much benefits have taken place during the year under review.
B. Human Resources
During the year under review employee/industrial relation continued to suffer a setback due to suspension of work at its manufacturing units.
C. Cautionary Statement
The Management Discussions and Analysis describe Companys projections, expectation or predictions and are forward looking statements within the meaning of applicable laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the companys operations include economic conditions affecting demand and supply and price conditions in domestic and international market, changes in Government regulations, tax regimes, economic developments and other related and incidental factors.