INDUSTRY STRUCTURE AND RECENT DEVELOPMENTS
The Company is a manufacturer of Modular Kitchen, Doors, Home Furniture and Treated and Kiln Timber.
Modular Kitchen in India has created a revolution for all the homemakers. Kitchen is that special place in every home meant to explore culinary passions and especially in India, everything related to Food is revered. In India, where food is assigned divine properties, Kitchen is more than a place to cook, Kitchens in India are considered Altars. As Home Dcor and Home Interiors are gaining importance, we find new concepts in Kitchen Dcor making waves. One such modern concept of Modular Kitchen is gaining immense popularity in India.
Modular Kitchens are based on functional practicality and the onset of Modular Kitchen in the furniture market of India
have spelt a consciousness that even kitchens can have a style statement and at the same time be comfortable and elegant.
The real estate boom in India has seen the construction of a large number of flats and similar residential units in major cities, such as Delhi, Kolkata, Mumbai, Chennai, Bangalore, Hyderabad, Gurgaon and Pune. The depleting land resources on the one hand and the increasing requirements of growing population and migrants on the other have forced builders to keep the size of a functional kitchen to the minimum. Faced with the problems of small kitchen size and less storage area, homeowners have found the perfect answer in a modular kitchen. A modular kitchen is composed of different modules of cabinets which can easily be integrated or disintegrated, thus increasing portability and effective use of available space. Its increasing popularity over the years has brought many international brands in India and today one can find a great variety in modular kitchen design within a reasonable price range.
OPPORTUNITIES AND THREATS:
Your Company continues to focus on its strategy of being an ace player in the industry through concern efforts in identifying and evaluating the opportunities and acting upon them. The Management is also constantly monitoring the potential threats and taking necessary. The Company works actively in pursuing the opportunities in its existing geographical and at the same time to build a foothold in new geographies. Growing Construction across the India is driving the Demand for Life style Kitchens and Wooden Furniture.
Strength of the Company:
- Good Face in the Market with Brand Image for quality product.
- Practices good Quality Management Systems.
- Successful development of wide verity of Products.
The Industries are in unorganized sector account for a substantially large share in Raw Material purchases. This effects the
price determination for Raw Material and margin of the Company adversely.
OUTLOOK:
The Company continues to be significant player in the Modular Kitchen and Home Furniture Market and continuously innovating new value added product. The Company is striving for reduction of wastages and improvement of profitability through implementation of Quality Management System. The Company is focusing on Sales and demand in the near future with growing construction across India.
INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:
The Companys objective with regard to internal control and their adequacy has been to safeguard the assets and interest of the Company. Proper policies, procedures, checks and balances bring in discipline in day to day function and determine the accuracy and reliability of Data. The Company has a proper and adequate internal control system to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and those transactions are authorized, recorded and reported correctly.
HUMAN RESOURCES:
The Management regards the human Resource as its prime source and the contribution from the employees has continuously been harnessed from attainment of corporate goals. A planed management process was pursued to move towards performance-based culture. The Company attached utmost priority to HRD with a focus on knowledge, skill and behavioral aspect to meet the challenges of change
CAUTIONARY STATEMENT:
Statement in the Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations may be "forward looking statement" within the meaning of applicable law and regulations. Actual result might differ materially from those either expressed or implied.
For & on behalf of the Board of Directors
Anant Maloo
Managing Director
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.