vandana knitwear ltd Management discussions

Your Directors are pleased to present the Management Discussion and Analysis Report for the year ended 31st March, 2023.

ECONOMIC OVERVIEW

The textile trading industry plays a vital role in global commerce, serving as a crucial link in the supply chain between raw material suppliers and end consumers. The textile trading industry is sensitive to overall economic conditions. Economic growth, consumer spending patterns, and disposable income levels impact the demand for textiles. During periods of economic expansion, there is often an increase in demand for clothing, home textiles, and industrial textiles. Conversely, economic downturns can lead to reduced consumer spending and, consequently, lower demand for textile products.

In recent years, technological advancements have transformed the textile trading industry. Automation, artificial intelligence, and data analytics are being integrated into various aspects of the industry, from manufacturing processes to inventory management. These technologies enhance efficiency, reduce costs, and enable companies to respond more effectively to market demands. In recent years, technological advancements have transformed the textile trading industry. Automation, artificial intelligence, and data analytics are being integrated into various aspects of the industry, from manufacturing processes to inventory management. These technologies enhance efficiency, reduce costs, and enable companies to respond more effectively to market demands. The textile industry continues to experience both challenges and opportunities. Global economic fluctuations, supply chain disruptions, and changing consumer preferences have influenced market dynamics. However, increased emphasis on sustainable practices and technological advancements have opened new avenues for growth.

Risk and Concerns

The very nature of the Companys business makes it susceptible to various kinds of risks. The Company encounters market risk, credit risk and operational risks in its daily business operations. The Company has framed a comprehensive Risk Management Manual which inter- alia lays down detailed process and policies in the various facets of risk management function. The risk management review framework provides complete oversight to various risk management practices and process. The framework and assessment remains dynamic and aligns with the continuing requirements and demands of the market. The Company has also implemented surveillance mechanism to deal with various trades related risks and adopted a surveillance policy in line with the regulatory requirements.

Human Resource

Equipping the Company with an engaged and productive workforce is essential to our success. We look for commitment, skills and innovative approach in people. In assessing capability, we consider technical skills and knowledge that have been acquired through experience and practice, along with mental processing ability, social process skills and their application.

We continue to invest in developing a pipeline of future talent and nurture them. As part of this process, we provide development and training opportunities to our workforce, which motivates and encourages them to grow in their work.

Internal Financial Control Systems and their adequacy:

Internal Control system and adequacy Internal Control measures and systems are established to ensure the correctness of the transactions and safeguarding of the assets. Thus, internal control is an integral component of risk management. The Internal control checks and internal audit programmers adopted by our Company plays an important role in the risk management feedback loop, in which the information generated in the internal control process is reported back to the Board and the Management. The internal control systems are modified continuously to meet the dynamic change. Further the Audit Committee of the Board of Directors reviews the internal audit reports and the adequacy and effectiveness of internal controls.

CAUTIONARY STATEMENTS:

Certain Statements in this report may be forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory change, local, political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Date: 05/09/2023	By Order Of The Board
Place: Bhilwara	For Vandana Knitwear Limited
	Sd/-
	Naresh Kumar Gattani
	DIN: 00125231
	Managing Director