Today's Top Gainer
Note:Top Gainer - Nifty 50 More
INDUSTRY STRUCTURE AND DEVELOPMENTS
The financial year 2018-2019 was a year of 7% GDP growth and rising inflation in the Indian economy. Industrial growth was probably at its lowest level for more than a decade. However, the performance of your company was more than satisfactory in terms of turnover and profits achieved by the company compared to last year.
OPPORTUNITIES AND THREATS
The Company is taking all possible steps to grab the opportunities for the growth of the Company.
The risk associated with the business be it external or internal affects the performance of the company in a long run. Competition and economic conditions prevailing all over may affect the business of the company.
The overall economic scenario of the industry expected to be good and accordingly, your Company is also expected to do well in the coming years. The demand and supply of the products in market may affect the performance of the company. The Company is striving hard to meet the demands of the market with the available limited resources. The company is striving hard to achieve the desired results.
RISKS AND CONCERNS
In the normal course of business, the Company is exposed to external risks such as overall demand fluctuations in the industry in which it operates, relative market shares for its products due to the impact of competition as well as internal risks.
The Company is taking appropriate steps to guard itself against these risks by a suitable product positioning strategy. The risk associated with the products of the Company is always a cause of concern for the Company.
INTERNAL CONTROL SYSTEMS
The Company has adequate internal control procedures commensurate with the size of the company and nature of its business. The internal control system is continuously reviewed by the management to ensure orderly and efficient conduct of business. The system emphasis on the functions of purchase, sales, finance etc. to adhere to the well defined corporate policies.
The main direct cost is the operational costs associated with the activities of the company. All efforts are being made to control the costs.
The company made a preferential issue by conversion of 8,10,000 equity shares of Rs. 10/- each to the promoters to meet the working capital requirements of the operations. With this issue, the Paid Up Share capital of the Company was increased by Rs.81,00,000.
MANAGEMENTS RESPONSIBILITY STATEMENT
The management is responsible for preparing the Companys financial statements and related information that appear in this Annual Report. The management believes that these financial statements fairly reflect the form and substance of transactions, and reasonably represent the Companys financial condition and results of operations in conformity with the Indian Accounting Standards (IND AS).