Triveni Enterprises Ltd Management Discussions.
Your Directors are pleased to present the Management Discussion and Analysis Reports for the year ended March 31, 2019 as under:
I. Industry Structure and Developments:
The short-term growth prospective is also good according to IMF, the Indian economy is the "bright spot" in the global landscape, India also topped World Banks growth outlook. India has the highest loom capacity (including handlooms) with 63 percent of the worlds market share India accounts for about 14 percent of the worlds production of textile fibres and yarns (largest producer of jute ,second largest producer of silk and cotton ;and third largest in cellulosic fibres.
The Board of Directors, with their expertise in the different aspects of the industry as well as their countless experiences. Successfully implemented various expansion schemes in the past with in-house expertise. Products are well accepted in the market. With the implementation of the project, the company does optimum utilization of the facilities. Organization set-up with experienced and well-qualified employees. Strong marketing network with low selling and distribution costs.
II. Opportunities and Challenges:
The good news is that the advanced economies overall will perform more strongly and contribute more to global growth. The fundamental strength of the textile industry in India is its strong production base of wide range of fibre/yarns from Natural fibres like cotton, jute, silk and wool to synthetic /man - made fibres like polyester, viscose, nylon and acrylic.
III. Segmentwise or product-wise performance
The Company is engaged in the business of Textile industry. During the year under review, the industry faced various challenges due to global and economic slowdown. The company has been now focusing on the Textile projects in and around the city of Mumbai.
The year 2018-19 was a challenging year from business prospective. Meager domestic demand growth, increased imports and volatile raw material prices put increased pressure on margins, with crude oil prices and petrochemicals prices having stabilized and tight situation in cotton supplies the demand should improve the current year.
V. Risks and concerns
The Company has risk management framework which enable it to take certain risks to remain competitive and achieve higher growth and at the same time mitigate other risks to maintain sustainable results.
A key factor in determining a Companys capacity to create sustainable value is the risk that the Company is willing to take and its ability to manage them effectively. The Companys Risk Management processes focuses on ensuring that risks are identified on a timely basis and addressed. Foreseeing the concerns, the Company manages to identify, evaluate, and monitor non-business risks.
VI. Internal control systems and their adequacy:
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 authorised, recorded and reported correctly. The internal control is exercised through documented policies, guidelines and procedures. It is supplemented by an extensive program of internal audits conducted by in house trained personnel. The audit observations and corrective action taken thereon are periodically reviewed by the audit committee to ensure effectiveness of the internal control system.
VII. Material developments in human resources/ industrial relations front, including number of people employed.
Your Company believes that its employees are one of the most valuable assets of the Company. The employees are deeply committed to the growth of the Company. With the growing requirements of the Company, Company has taken necessary initiatives to ensure not only the retention of the employees but also their growth and development.
The Company also provides various opportunities to the employees to develop their skills to take up higher responsibilities in the organization. Company also uses various communication channels to seek employees feedback about the overall working environment and the necessary tools and resources they need to perform at their best potential.
|By Order of the Board of Directors|
|Registered Office:||For Triveni Enterprises Limited|
|Office No. S. NO. 24, Bldg No. 2 C,|
|N.G. Park, S.V. Road||Sd/-|
|Rawalpada Dahisar East||Bhavin Nagda|
|Mumbai 400068||Whole Time Director|
|Date September 05, 2019|