Tatia Global Venture Ltd Management Discussions.
M/s. Tatia Global Vennture Limited was originally incorporated under the name and style as Tatia Intimate Exports Ltd in the year 1994-95.
The Companys primary business objectives are in the textile segment as well as in the infrastructure related project and ventures . The Companies business is positioned both in organic and inorganic growth model. While the primary business objective of the Company have been heavily relied upon, yet the Company wants to strengthen its base in various projects and ventures, and a major diversification the Company has successfully acquired and hold a tranche of land banks through its wholly owned subsidiaries.
1. Opportunities, Threats, Risks, Concerns and Outlook
The Companys business, results of operations and financial condition are affected by number of risks, so the risk management function is of paramount importance and integral to the functioning of the company. The objective of the risk management strategy includes ensuring that critical risks are identified, monitored and managed effectively in order to protect the companys business. The company has formal reporting and control mechanism to ensure timely information availability and facilitate pro-active risk management. At the enterprise level de-risking of the companys business risk is sought to be achieved by a policy of undertaking diversified projects in different verticals, geographic and diversions are independently responsible for monitoring risk associated within their prospective areas of operation.
2. SEGMENT WISE/PRODUCT WISE PERFORMANCE
The Company currently has only one segment in line with the Accounting Standard on Segment Reporting(AS-17). Segment information has been prepared in conformity with the accounting policies adopted for preparing and presenting the financial statements of the company.
3. INTERNAL CONTROL SYSTEM AND ADEQUACY
The Company has adequate system of internal control in place. This is to ensure that assets are safeguarded and all transactions are authorized, recorded and correctly reported. The internal audit function is empowered to examine the adequacy , relevance and effective control system, compliance with policies ,plans and statutory requirements. The top management and the Audit Committee of the Board review the findings and recommend to the Board for improvement on the same.
4. FINANCIAL PERFORMANCE
We are confident that in the financial year 2019-2020, we should again see a healthy growth both in the turnover and the order book. We indeed are back on growth track. Further the company has planned to diversify itself into the infra structure developmental activities. The financial performance of the company has been given in detail separately in the Directors report.
5. MATERIAL DEVELOPMENTS IN HUMAN RESOURCE
The company believes, thinks and performs in a manner that is in line with global best of breed practices. Your company attaches significant importance to continuous up gradation of Human resource for achieving higher level of efficiency customer satisfaction and growth.
6. CAUTIONARY STATEMENT
This report contains forward looking statements, which may be identified by their use of words like plans, expects, will, anticipates, believes, intends, projects, estimates, or other words of similar meaning. All statements that address expectations or projections about the future, including, but not limited to statements about the Companys strategy for growth, product development, market position, expenditures and financial results are forward- looking statements. Forward looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The Companys actual results, performance or achievements could thus differ materially from those projected in any such forward looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.