a. Industry Structure and Developments:
The Flour Mill industry is passing through a difficult phase, but with the hope of revival of economy in general and expectation of good monsoon, the management is hopeful of better future of the industry.
b. Opportunities and Threats:
The Flour Mill industry is subject to competition among various manufactures within the country. The liking towards ready made food and increase in demand of fast food will provide opportunity to company to increase its sales and capture market share.
c. Segment wise Performance:
The Company has only one segment.
d. Recent Trend and Future Outlook:
The Management is confident of improvement in the demand of wheat flour in the near future with fast changing food habits of the people.
e. Risks and Concerns:
Like any other industry, Flour Mill industry is also exposed to risk of competition, government policies, natural factor etc. As the Company is neither importing nor exporting raw materials/ finished product, the Company has no risk on account of Exchange Rate fluctuations.
f. Internal Control Systems and their Adequacy:
The Company has adequate systems of Internal Controls commensurate with its size and operations to ensure orderly and efficient conduct of business. These controls ensure safeguarding of assets, reduction and detection of fraud and error, adequacy and completeness of the accounting records and timely preparation of reliable financial information. The Company has appointed an external firm of Chartered Accountants to supplement efficient Internal Audit.
g. Financial Performance with respect to Operational Performance:
The financial performance of the Company for the year 2022-23 is described in the Directors Report under the head ‘Production, Sales and Working Results.
h. Material Developments in Human Resources and Industrial Relations Front:
The Company has continued to give special attention to Human Resources/Industrial Relations development. Industrial relations remained cordial throughout the year and there was no incidence of strike, lock out etc.
i. Key Financial Ratios:
| Key Ratios | FY 2022-23 | FY 2021-22 | Change % | Explanation, if required |
| Debtors Turnover | NIL | NIL | NA | There are no operating revenues in FY 22-23 and FY 21-22 |
| Inventory Turnover | NIL | NIL | NA | There are no inventories or operating revenues in FY 22-23 and FY 21-22 |
| Interest Coverage Ratio | NIL | NIL | NA | The Company has no debt finance during the year 2022-23 |
| Current Ratio | 17.35 | 15.63 | 11.00% | Marginal improvement in liquidity as at current year end compared with last year |
| Debt Equity Ratio | NIL | NIL | NA | The Company has no debt outstanding as at 31-03- 2023 and 31-03-2022 |
| Operating Profit Margin (%) | NIL | NIL | NA | There are no operating revenues in FY 22-23 and FY 21-22 |
| Net Profit Margin (%) | NIL | NIL | NA | There are no operating revenues in FY 22-23 and FY 21-22 |
| Return on Networth (%) | 6.62 | 7.22 | -0.60% | - |
j. Cautionary Statement:
Statement in this Management Discussion and Analysis Report, describing the Companys objectives, estimates and expectations may constitute ‘Forward Looking Statements within the meaning of applicable laws or regulations. Actual results might differ materially from those either expressed or implied.
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