saka ltd Management discussions

Industry overview

Television Industry has been witnessing vast technological advances. While the industry is witnessing growth the margins are squeezing due to increased competition.

Opportunities and Threats

The technology for advanced televisions is available but increased competition makes the foray into the market difficult as the margins have squeezed.

Segment-wise or product-wise performance

The company has closed its operations in 2004.

Outlook

The company will assess the industry environment and decided the future course of action.

Risk and Concerns

The company was one of the pioneers in the industry. However, declined profits due to increase completion and higher input costs forced the company to close its operations in 2004.

Financial performance with respect to operational performance

There were no operations during the financial year 2016-17.

Human Development in Human Resources/Industrial Relations

The company has closed its operations and did not have any employee during the year under review.

Internal Control System and their adequacy

There are adequate internal control systems commensurate with the size of the company and nature of its business.

Contingent Liabilities

Details of the companys contingent liabilities are given in the Annual Accounts annexed.

ANNEXURE TO THE DIRECTORS REPORT

AUDITORS CERTIFICATE ON CORPORATE GOVERNANCE

To the members of SAKA LIMITED

We have examined the relevant records of Saka Limited (the company) for the year ended 31.03.2018 relating to the compliance with the requirements of Corporate Governance as stipulated in clause 49 of the Listing Agreement of the company with the stock exchange(s).

The compliance of the conditions of corporate governance is the responsibility of the management.

Our review was limited to procedures and implementation thereof, adopted by the company for ensuring the compliance of the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the company.

In our opinion and to the best of our information and according to the information given to us, we certify that the company has complied with the conditions of Corporate Governance stipulated in Clause 49 of the above mentioned Listing Agreement except that the company has not paid the listing fee to the stock exchanges.

As per data of complaints given by the management and relied upon by us we state that in respect of investor grievance received during the year ended 31st March, 2018, no complaint of shareholder was pending against the company.

We further state that such compliance is neither an assurance as to future viability of the company nor the efficiency or effectiveness with which the management has conducted the affairs of the company.

FOR AGARWAL SETH & CO,

CHARTERED ACCOUNTANTS

FRN : 511761C

Vikas Agarwal

Partner

Membership No.:090508

Date: 28 05 2018

Place: New Delhi