Today's Top Gainer
Note:Top Gainer - Nifty 50 More
Industry Structure and Development : Tea Industry :
The industry is largely dominated by India (second largest producer and largest consumer) followed by China, Sri Lanka, Kenya and Indonesia. India accounts for 30% of worlds production; the combined production of Sri Lanka, Kenya and Indonesia was lower than Indias.
Segment wise or product wise performance: TEA DIVISION
Your Companys focus has always been to produce better quality of tea and achieve better prices. The production capacity has been expanded to manufacture more CTC and Green Tea. The plantation continues to make continuous progress.
Your Company is a reputed manufacturer and supplier of tea processing machinery in tea Industries not only in domestic market as well in overseas. The Management always focuses to satisfy customer requirements not only with our product but also with our conduct to create Goodwill for your company in the Industry.
Risks and Concerns :
Tea industry is an agricultural industry and its performance is dependent on vagaries of nature. The industry is highly labour intensive and is subject to stringent Labour Laws. Shortage of skilled labour, during peak season is some pockets are also a cause for concern. In any business, risks and opportunities are inseparable components. The Companys Directors and management keep this in mind while taking decisions to ensure that stakeholders are not adversely affected.
Discussion on Financial Performance with respect to operational performance :
The Companys financial position is strong enough which has helped company to pass through in turbulent times. The development work in garden is always given top priority for improvement in quantity as well as quality. The surplus fund in the Company is deployed in such a way that reasonable returns are derived.
Internal Control System and their adequacy :
The Company implemented internal control systems to ensure that all assets are safeguarded and protected against losses and all transactions are recorded and reported correctly. The Company has laid down policies, guidelines and procedures, which form part of its internal control system. The Companys internal control system are periodically tested and supplemented by an extensive programme of internal audit by independent firm of Chartered Accountants. Audits are finalized and conducted based on internal risk assessment. Significant 3ndings are brought to the notice of the Audit Committee of the Board and corrective measures are recommended for implementation.
Material development in human resources and industrial relations :
Tea industry is highly Labour intensive and human resources form the core of operations. Focus on better deployment of Labour in garden area has resulted in improving productivity both quantitative and qualitative. Industrial relations in all tea estates and units continued to be cordial.
Cautionary statement :
The statements in the report of the Board of Directors and the Managements Discussion and Analysis Report describing the Companys projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable securities Laws and Regulations. Actual results could di3er materially from those expressed or implied. Further Tea industry depends on vagaries of nature and any adverse favorable situation can reverse the whole situation.
By order of the Board of Directors For T & I Global Ltd.
Place: Kolkata Executive Chairman
Dated: 13th August, 2018 (DIN : 00074501)