Today's Top Gainer
Note:Top Gainer - Nifty 50 More
1. INDUSTRY STRUCTURE DEVELOPM ENTS AND OUTLOOK
The main business of our company is to give on hire, equipments to companies engaged in construction activities particularly in construction of road, building and port. Thus the activities of the company are affected by the conditions in the infrastructure industry. Construction activity is an integral part of a countrys infrastructure and industrial development. It includes hospitals, schools, townships, offices, houses and other buildings; urban infrastructure (including water supply, sewerage, and drainage), highways, roads, ports, railways, airports, power systems; irrigation and agriculture systems; telecommunications etc.
2. RISKS CONCERNS AND RISK MITIGATION OBJECTIVE
Sancia Global Infraprojects Limited has implemented risk management framework to achieve the following objectives:
(a) Strategic: High-Level goals, aligned with and supporting its mission.
(b) Operations: Effective and efficient use of its resources.
(c) Reporting: Reliability of financial reporting.
(d) Compliance: Compliance with applicable laws and regulations.
Risks are assessed and ranked according to the likelihood and impact of them occurring. Existing controls are assessed and mitigation measures discussed.
Risk are assessed and reviewed regularly at top level and risk mitigation measures taken promptly to address any adverse situation.
The companys activities comprise of providing equipment(s) on rental basis to entities which provide for levy of penalty normally for time-over-run cases. In case the Company is unable to meet the performance criteria as prescribed by the respective client and if penalties are levied, the financial performance of the company may be adversely affected. However, company has its own work-force which operates the machines and has a stock base of spare parts / its own workshop which ensures the minimal disruption of equipments etc.
3. THE EXCHANGE RATE FLUCTUATIONS MAY HAVE IMPACT ON THE PERFORMANCE OF THE COMPANY
Presently the company is not exposed to exchange rate fluctuations, however uncertainties in the global financial market may have an impact on the exchange rate between Rupees vis-d-vis other currencies. The exchange rate between the Rupee and other currencies is variable and may continue to fluctuate in the future. Such fluctuations can have an impact on revenue patterns.
4. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has an in-house internal audit department which examines and ensures adequate internal checks and control procedures. It also ensures proper accounting, records authorization, control of operations and compliance with law. The Company has a strong reporting system which evaluates and forewarns the management on issues related to compliance. Further the Company is continuously working to improve and strengthen internal check and control system to align with the expected growth in operations.
5. DEVELOPMENTS IN HUMAN RESOURCES:
Our employees continue to be our biggest source of strength. Past success of Sancia Global Infra Projects Ltd., have come as much because of the soundness of its strategies as due to the determination and commitment of all its employees - who turned these strategies into action. Going forward, the Companys ability to enhance its human resource competencies will be even more critical. It is challenge that is being addressed through several structured initiatives.
During the year, the Company implemented human resource and organizational development initiatives.
6. CAUTIONARY STATEM ENT:
Certain statements made in the Management Discussion and Analysis Report relating to the Companys objectives, projections, outlook, expectations, estimates, etc may constitute forward looking statements within the meaning of applicable laws and regulations. Actual results may differ from such expectations, projections etc, whether express or implied. Several factors could make significant difference to the Companys operations. These include climatic conditions and economic conditions affecting demand and supply, government regulations and taxation, natural calamities, etc over which the company does not have any direct control.
|By Order of the Board of Directors|
|Date: August 23, 2017|