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.
Future Outlook
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.
Cautionary Statement
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.
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