This report discusses and analyses the performance for the year ended 31st March 2022.
FY 2021-22 started with intermittent lockdowns following the second wave of Covid-19 and also witnessed the war between Russia and Ukraine towards its closure, which led to a highly uncertain economic environment. Amidst the challenging business and economic conditions, your Companys overall performance for the FY 2021- 22 was resilient, consistent and good and the income of the Company stood as Rs 2.16 Crores.
Overall review of operations
The Company is in the business of engineering, consultancy, turnkey contracts in power sector industry. The Company has recorded an Operational income of Rs.2.16 Crores.
Industry Structure and Development
Consultancy is a practice of giving expert advice within a particular field by professionals or experts who advice in a particular area and has knowledge, well experienced, problem solving skill and is expertise of the subject matter.
The Power sector in India is slowly moving from a regulated return framework to a market driven pricing mechanism. This has provided a major boost for private entrepreneurs to enter the Power Sector.
Opportunities and Threats
The Indian engineering and consultancy services industry is poised to grow in leaps and bounds. There are more opportunities for this industry in the years to come keeping in view the modernization policy envisaged by the Government of India. Our Company being an integrated player providing turn-key services under one umbrella from designing, construction, generation, transmission and distribution has lot of scope for further work in the coming years.
It is pertinent to mention that there are lots of leading players in the market who are providing more integrated services to the industry. The changes in the Government policy, fluctuations in foreign currency and increase in cost of skilled manpower also poses threat to the consultancy industry as a hole.
The Power sector in India is slowly moving from a regulated return frame work to a market driven pricing mechanism. This will encourage a number of private entrepreneurs to set up power projects. Our Company being one of the organizations providing turnkey based services relating to transmission and distribution services has tremendous scope of getting a number of contracts. Therefore the future outlook of the Company looks bright in the years to come.
Risk & Concerns
The Company on regular basis reviews its Risk Management Policy and takes proactive steps to safeguard and minimize any adversity related to the Market, Technology, People, Environment/Regulatory, Financial and Opportunity Risks. Wherever necessary, the Company takes adequate insurance coverage of its assets for safeguarding from unforeseen risks.
Internal Control Systems and their Adequacy
The Company has adequate internal control system and well laid-down policies and procedures for all its operations and financial functions. The procedures are aligned to provide assurance for maintaining proper accounting controls, monitoring efficient and proper usage of all its assets and reliability of financial and operational reports. The internal control system is ably supported by the Internal Audit Department which carries out extensive audit of various functions throughout the Company. The Companys Board has an Audit Committee which comprises of three members, ail of whom are Independent Directors. The Audit Committee reviews significant findings of the internal audit.
Human Resources/lndustrial Relations
The Company takes pride in the commitment, competence and dedication shown by its employees in all areas of business. Various Human Resource initiatives are taken to align the HR Policies to the growing requirements of the business.
The Company has a structured induction process and management development programmes to upgrade skills of managers. Technical and safety training programmes are given periodically to workers deputed at various project sites.
Industrial relations in the organization continued to be cordial during the year.
Statements made in this report describing the Companys objectives, projections, estimates, expectations may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in the Government regulations, tax laws and other statutes and incidental factors.
Gold/NCD/NBFC/Insurance and NPS
Gold/NCD/NBFC/Insurance and NPS