Today's Top Gainer
Note:Top Gainer - Nifty 50 More
We are pleased to report that during financial 2018-19, the Company has made a net profit (before tax) of Rs. 94.59 lakhs.
The Financial Statement has been prepared in Compliance with the requirement of the Companies Act, 1956, guidelines issued by the Securities and Exchange Board of India (SEBI) and Generally Accepted Accounting Principles (GAAP) in India. Our Management accepts responsibility for the integrity and objectivity of these financial statements, as well as for various estimates and judgments used therein.
The estimates and judgments relating to the financial statements have been made on a prudent and reasonable basis, so that the financial statements reflect in a true and fair manner the form and substance of transactions, and reasonably present our state of affairs, profits and cash flows for the year.
The Company is one of the major suppliers for products such as "Stainless Steel Wire Ropes", "Regulating Equipment", "Traction Bond" and "Anticreep Wire Rope" to the Indian Railways. The Company has added one more product required by Indian railways, to its range of products viz. Section Insulator Assembly. All these items are required by the Indian Railways for Electrification of various railway routes throughout India. The demand for such items is expected to increase as these items are required for new installations and also for replacement of the old installations.
The Company envisages huge and continuous demand for its products viz "Stainless Steel Wires Ropes", "Traction Bond", "Anticreep Wire Rope", "Regulating Equipments" and Section Insulator Assembly as the same are required for new installations and also for replacement of the old installations by the Indian Railways. "
Threats and Risks
The competition for the products manufactured by the Company has increased due to new entrants in the market for similar products and also there is volatility in the prices of raw materials in recent past. This may reduce the market share of the Company and also may result into lower margins than the current level due to competition and higher input costs.
Statement in the Management Discussion and Analysis describing the Companys objectives, expectations, predictions and assumptions may be forward looking within the meaning of applicable Securities Laws and Regulations. Actual result may differ materially from those expressed herein. Important factors that could influence the Companys operations include global and domestic economic conditions affecting demand, supply, price conditions, change in Governments regulations, tax regimes, other statutes and other factors such as litigation and industrial relations.