Industrial Structure and Development
The Company was engaged in manufacturing of Plastic Plain / Printed Bags, Tools, Bags, Garbage and Zhabala Bags etc. The Government in its various directions have been announcing various restrictions on use of plastics bags. Due to strict regulatory norms and restrictions, the Company has not been able to revive its manufacturing activity.
Opportunity and Threats
The Company at present is not carrying any commercial or manufacturing activities. The Company does not own any inventory for the year under review.
During the financial year 2018-19, the Company has not earned any income, however it is exploring other avenues of business.
Segment- wise or product – wise performance
The Company currently is not engaged in any commercial or manufacturing activity. Hence, there is no reportable geographical/ different segment wise report.
The present object of the Company has become unviable due to stringent regulatory norms. However, the management is optimistic and exploring other business opportunities, which will create value for the shareholders of the Company.
Risk & Concerns
Uncertainties in business has been a matter of concern and thus the management is fully devoted in the preparation to take corrective measures to safeguard the risks associated with the present operations of the Company.
Internal control systems and their Adequacy
The Company has adequate internal control system in place that ensures its adequacy, adherence to the Company policies and compliance, assuring adherence of operating guidelines and statutory requirements and ensuring reliability of financial and operational information and it also safeguards the companys assets against loss from unauthorized use and ensures proper authorization.
Discussion on financial performance with respect to Operational performance
The income of the Company was nil in the financial year ended 31 st March, 2019 as compared to Rs. 0.03 lakh in the previous financial year. The net loss of the Company was Rs. 22.00 lakh for the financial year ended 31 st March, 2019, as compared to net Loss Rs. 14.86 lakh for the previous year. The Company is however exploring new avenues for undertaking profitable business activities.
Material Developments in Human Resources/ Industrial Relations front, including number of people employed
There were no employees presently employed by the Company during the year under review since the Company was not carrying out any commercial or manufacturing activities. The Company recognizes the importance of the human resources for its growth and development and when the new business opportunities get firmed up it shall hire human resources.
Readers are cautioned that this Management Discussion and Analysis may contain certain forward looking statements based on various assumptions on the Companys present and future business strategies and the environment in which it operates. The Companys actual performance may differ materially from those expressed or implied in the statement as important factors could influence Companys operations such as effect of political conditions in India and abroad, economic development, new regulations and Government policies and such other factors beyond the control of the Company that may impact the businesses as well as its ability to implement the strategies.