revati organics ltd share price Management discussions

Overall review, Industry Structure and Developments:

The Company had set up manufacturing unit in Village Gonde Dumale, Taluka-lgatpuri, District Thane for manufacturing of Almond Oil and a range of Inorganic Chemicals. The Project was conceived by Mr. Girish Shah who had done Chemical Engineering from UDCT and M. Sci (Tech). The Plant was run successfully and posted PAT for the year 1994-95 and 1995-96. Mr. Girish Shah suffered heart attack in the last Quarter of 1996 and in 1997 he had Paralytic attack. In the meanwhile, the Environment Ministry came out with New Norms. Due to health Problem of Pioneer Promoter Mr. Girish Shah and even Management hired the Professional Team but the finished product could not meet with new norms and the Factory had to be closed down. MSFC took over the Plant with Land and Equipment in exercise of provision contained under section 29 of State Financial Corporation Act.

The Management of the Company is venturing into entertainment business for which it has modified and altered the Main Object Clause of the Company.

Business Profile

Company is an integrated media and entertainment company engaged primarily in buying and selling of films copyrights.

The key elements of Company during the year were to take appropriate steps to safeguard its position in a fiercely competitive environment.

Segment wise Performance

The Management is undertaking steps for revival of the Company with the available resources, there will be single segment of business at this stage.

Future Outlook

At present, the Management is focusing and developing the business of buying and selling the copyrights of the films. And hence in future, the Management will carry on the same and any other incidental business which will be less capital and labour intensive which will save the operational cost.

Internal control System

The Company has adequate internal control systems, which provide, among other things, reasonable assurance of recording the transaction of its operations in all material respects and provide protection against significance misuse of loss of Companys assets.

Human relations

The Company believes that the manpower and business network consisting of human being is the primary and most valuable resources to the growth of organization. Your Company put all its efforts for sound and healthy human relation for development of trade and organization.