vijay remedies ltd Management discussions

VIJAY REMEDIES LIMITED ANNUAL REPORT 2004-2005 MANAGEMENT DISCUSSION AND ANALYSIS Industrial Structure and Development: Vijay Remedies Limited is in the manufacturing of pesticides, micronutrient fertilizers and bio-fertilizers. The products of the company are used in agriculture. Opportunities and outlook: The opportunities for the product of the company are enormous because of good monsoons, growth in agriculture and overall growth of the Indian economy. With the implementation of WTO and expected increase in agricultural exports. the demand for the products of the company is likely to increase year after year. Vijay Remedies Limited is well poised to reap the benefits of growing market in India and abroad. Threats: The company does not foresee any threat to its business, except that the sale of the company is heavily dependent on agricultural production which in turn is dependent on rainfall and other vagaries of nature. Risk and concerns: The real risk and concern to the company is the fluctuation in national and international market that recur from time to time. Internal Control Systems and their adequacy: The company has adequate internal control systems commensurate with its size and the nature of its business for purchase of stores, raw materials including components, plant and machinery, equipments and other assets and for the sale of goods. Human Developments in Human Resources/Industrial Relations, including number of people employed: The companys Human Resource Policy is carefully structured to meet the aspiration of employees as well as the organization. These policies are implemented through training and other development programme, which are conducted round the year. As on 31st March, 2005 the total manpower deployed was about 12 besides the contract labour. The company continues to have cordial industrial relations.