Vikas Wsp Ltd Management Discussions

Annexure-IV

INDUSTRY STRUCTURE & DEVELOPMENT

The Company VIKAS WSP was established in 1988. The Company is one of Indias foremost guar gum powder (GGP) manufacturers, supplying to all sectors of the food industry with an extensive range of quality products. Besides food, the Company also offers guar gum for technical applications such as pet food, oil drilling and fracturing, textile printing, paper making, etc. The per annum production capacity of all grades of guar gum powder is 58800 MT. The Company is committed to providing its customers with overall services and values that are the best. It has contributed significantly to our national output, employment and exports.

COMPANYS PERFORMANCE

Your Company is under Corporate Insolvency Resolution Process (CIRP). During the current year under review your, there are no business operations in the Company.

During the current year under review, company has incurred loss of Rs. (2,644.94) Lakhs as compared to the previous year Rs. (3,242.93).

FOREIGN EXCHANGE EARNINGS

No Foreign Exchange Earnings and Expenses during the financial year 2023-24.

BUSINESS SEGMENT

As the Company is dealing only in Guar derivatives and Guar Polymers, therefore, segment-wise detail is not required to incorporate.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company is having adequate internal control systems and procedures which are commensurate with the size of the Company. All the departments of the Company are following the established rules and regulations for internal control systems. The 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, Companys single biggest asset is its Human Resources. 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 the 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 relationship 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, actual results may differ from whatever is stated in the annual report.

Review

Vikas WSP Limited is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 as of 02.02.2022. Its affairs, business and assets are being managed by Mr. Darshan Singh Anand, Resolution Professional. The Companys production is stopped since September 2020.