Today's Top Gainer
Note:Top Gainer - Nifty 50 More
This report covers the operations and financial performance of the Company for the financial year ended 31st March, 2018 and forms part of the Directors Report.
INDUSTRY STRUCTURE AND DEVELOPMENTS
The Company is engaged in the business of trading of textiles where the outlook of the business seems to be encouraging. We believe that we are well placed to leverage on the growth opportunities in the economy.
Due to adverse market conditions prevailing in various businesses in which the Company operates, the overall performance of the Company during the financial year under review has been declined as compared to that of the previous year.
OPPORTUNITIES AND THREATS
Market Potential-There is lot of scope for improvement, alteration or changing or creating new Products. Scope for diversification into other products is very high.
Exposure to export and domestic markets.
Exporter-friendly government policies.
Growing international and domestic markets.
Growing fashion consciousness globally.
Comfortable availability of raw materials and other inputs.
Increase in competition.
Increase in raw material prices.
Customer & Geographical concentration.
BUSINESS SEGMENT TEXTILES
With the help of integrated manpower resources, the Company has acquired an edge over its competitors. The Company has the ability to process multiple deliveries daily and offer real-time information and also provide a range of innovative products to its Customers.
Indian Textile Industry had played and is playing a significant role in the growth and development of Indian economy.
Your Companys future growth is built on two parallel growth drivers, domestic consumption in apparel & branded retail as well as large global opportunity in textiles & clothing world trade. On the whole, the outlook for the Company continues to remain positive.
RISKS AND CONCERNS
Textile Industry is always subject to facing crisis in a cyclical way. Timely action is needed to overcome this situation by taking corrective and proactive steps, then and there.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an adequate Internal Control System commensurate with its size and operations. Management has overall responsibility for the Companys Internal Control System to safeguard the assets and to ensure reliability of financial records. Audit Committee reviews all financial statements and ensures adequacy of internal control systems.
DISCUSSIONS ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
Income from trading is amounting to Rs. 14,72,26,126/-. The total income of the Company for the financial year ended 31st March, 2018 was Rs. 14,73,07,885/- compare to previous year which was Rs. 63,55,44,704/-.The Board is expecting a better performance in the current year.
MATERIAL DEVELOPMENT IN HUMAN RESOURCES / INDUSTRIAL RELATION FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED:
The employees are satisfied and having good relationship with the Management.