Vikas Proppant Management Discussions


INDUSTRY STRUCTURE AND DEVELOPMENT

Vikas Proppant & Granite Limited, a Company with public interest, was incorporated in 1994. The Company has diversified its business into niche global expending market of oil fracturing proppants by making use of cuttings (waste materials) of granite stones. The Company is committed to provide its customers overall services and values at its best. It has contributed significantly to our national output, employment and exports.

COMPANY OUTLOOK OPPORTUNITIES AND THREAT

OPPORTUNITIES Competitive Advantages

India is one of the largest producers and exporters of granite in the world. The country has one of the largest reserves of granite in the world with deposits available in abundance in Rajasthan, Haryana, Tamil Nadu, Andhra Pradesh, Karnataka and Odisha.

Geographical, Economical and Industrial Advantages

In India, Rajasthan, is the main producing regions, specially Jodhpur (Rajasthan)is the major place where lot of granite blocksare available . The Company is situated in the area where it has geographical, economical and industrial advantages.

THREATS

Price Stabilization

Price stabilization is one of the major challenges for the industry. Price fluctuation has created uncertainty. Such uncertainty may compel users to look for alternatives.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company is having adequate internal control systems and procedures which commensurate with the size of the Company. All the departments of the Company are following the established rules and regulations for internal control systems. Company established an Internal Control Audit Department which ensures that the internal control systems are properly followed by all the concerned departments of the Company.

HUMAN RESOURCES/INDUSTRIAL RELATIONS

Beyond Balance Sheet, Company’s singly biggest asset is its Human Resource. The Company is of firm belief that the human resources are the driving force towards progress and success. The Company continued its policy of attracting and recruiting best available talents so that it can face business challenges ahead. The Company also offers attractive compensation packages to retain and motivate its professionals so that they can infuse their best efforts. The industrial relation continues to be cordial during the year.

Though the statement and views expressed in the above said report are on the basis of certain assumptions and expectations of future events, but actual results may differ from whatever is stated in the report.

Though the statement and views expressed in the above said report are on the basis of certain assumptions and expectations of future events, but actual results may differ from whatever is stated in the report.