Today's Top Gainer
Note:Top Gainer - Nifty 50 More
India today, is a fast emerging economic super power. With a population of a strong 300 million and the worlds largest middle class population, it unleashes the latent strength of popular consumerism while reshaping both business & the way of life. With the surging trend in all sectors, International Trade Journals have rightly billed India as one of the fastest growing economies in the world. Strong and buoyant demand, increasing purchasing power in the hands of younger population and overall structural and inclusive growth on the macro-economic front acted as external impetus contributing to this growth.
A. INDUSTRY OVERVIEW
India Heritage in Textiles
1.Indian textiles have a legendary heritage through the ages. Some of the best attires of Greeks & Romans were draped with Indian textiles. European settlers exchanged silver & gold for Indian textiles, which became the fashion statement of the period. Calico, Pajamas, Gingham, Dungaree, Chintz & Khaki these apparel names are Indian contributions to the English language.
1. Indian Textile Industry An overview
1.1 The Polyester/ Viscose industry is one of the key industries in the Indian economy and India is today one of the leading countries in the world as far as trade is concerned. Though new opportunities are rapidly emerging Indias future position will largely depend on how effectively the Industry and Government are able to resolve core issues and take advantage of an increasingly fragmented industry structure. The Industry, which is one of the oldest in existence, has promoted economic development even in far-flung areas of the country, both urban and rural. Three of the highly developed metropolises of Modern India like Mumbai, Surat and Ahmadabad grown over the years have the main business base of textile industry.
1.2 Thanks to the fast growing consumer class and increasing disposable incomes, per capita domestic consumption of textiles & apparels is expected to have a good volume growth.
1.3 Indias cotton textile & garment industry has immense export potential. Cost competitiveness backed by international quality is driving the penetration of Indian basic yarns and grey fabrics in global commodity market, as a result of which apparels can be manufactured in relatively small batch lots. This flexibility offers larger variety of casual wear and leisure garments at cost effective levels.
1.4 Besides natural fibers like cotton, jute & silk, synthetic raw material products such as polyester staple fiber, polyester filament yarn, acrylic fiber and viscose fiber are produced in a mass scale. That presents the wide canvas of the Indian textile scene with wider opportunities.
B. INDUSTRY STRUCTURE AND DEVELOPMENT:
Great changes are taking place in the global industry, and as the company has established its position in the Indian Economy and also restructuring itself to fit in the competitive market.
Polyester markets faced challenges during the year as capacity growth outpaced demand growth. The global overcapacity has forced a few large producers to shut operations at some in USA and Europe in past years.
Company turnover has shown decrease in turnover in comparison to last year. The Company do not have any turnover during the First Quarter of the current Financial year 2019-20.
C. FUTURE PROSPECT / BUSINESS PLANS OF THE COMPANY
During the year Yarn & Thread, was the thrust areas of business for the Company. The Companys Yarn and thread products are very well accepted due to the ISO certification, quality improvement and timely delivery policy. The company has concentrated on its goals of consolidating and strengthening its marketing network, delivering quality products and cutting cost wherever possible. Company is considering venturing into some other profitable line of business.
D. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The company has a proper and adequate system of internal control to ensure that all assets are safeguarded and protected against any loss from unauthorized use or disposition and that transaction are authorized, recorded and reported correctly. The Companys internal control systems are periodically reviewed by the management together with the Audit Committee of the Board. The emphasis of internal control prevails across functions and processes, covering the entire gamut of activities including finance, supply chain, distribution, marketing etc.
F. HUMAN RESOURCES DEVELOPMENT/INDUSTRIAL RELATIONS:
The Company recognizes the need for continuous growth and development of its employees in order to provide greater job satisfaction and also to equip them to meet growing organizational challenges. Industrial relations have continued to be harmonious at all units throughout the year. Measures for safety of employees, Welfare and development continue to receive top priorities.
G. RESEARCH & DEVELOPMENT
The company has been carrying out research and development in the following specific areas.
1. To improve the breaking strength and tenacity of the thread.
2. To reduce the elongation on the thread.
3. To reduce the shrinkage of the thread.
4. To make the yarn anti-microbal.
5. To make the yarn fire resistant.
H. THE FINANCIAL AND OPERATIONAL PERFORMANCE:
The financial statement is in confirmation with provisions of the Companies Act, 2013 and applicable accounting standard recommended by the Institute of Chartered Accountants of India. The financial statement reflects the genuine desire for the transparency and best judgment for the estimates made on prudent and reasonable bases to correctly reflect the true and fair affairs of the company.
I. SEGMENT WISE PERFORMANCE:
Presently, company is dealing in single segment activity namely Wholesale Yarn Trading activity.
J. CAUTIONARY STATEMENT:
Statements in this report on Management Discussion and Analysis describing the Companys objectives, expectations or predictions may be forward looking statements within the meaning of applicable security laws and regulations. These statements are based on certain assumptions and expectations of future events. Actual results could however differ materially from those expressed or implied.
Important factors that could make a difference to the companys operation include demand and supply conditions, finished good prices, raw materials cost and availability, changes in Government regulation and tax structure, economic developments within India and the countries with which the company has business contacts and other factors such as litigations, Industrial relations of India and compensation paid during the year.
The Company assumes no responsibility in respect of forwarded looking statements herein which may undergo changes in future on the basis of subsequent developments, information or events of the Company.
|For and on behalf of the Board of Vyapar Industries Limited|
|Akil A. Rassai||Hussain A. Rassai|
|Managing Director||Joint Chairman|
|DIN: 00021329||DIN: 00021454|
|145, S.V. Road, Khar (W),|
|May 30, 2019|
SECRETARIAL COMPLIANCE REPORT OF VYAPAR INDUSTRIES LIMITED FOR THE YEAR ENDED 31ST MARCH, 2019
VYAPAR INDUSTRIES LIMITED
145 S V Road, Opp Khar Police Station, Khar West, Mumbai 400054.
We, Sherlyn Rebello& Associates have examined:
(a) all the documents and records made available to us and explanation provided by Vyapar Industries Limited ("the listed entity"),
(b) the filings/ submissions made by the listed entity to the stock exchanges,
(c) website of the listed entity,
(d) any other document/ filing, as may be relevant, which has been relied upon to make this certification, for the financial year ended on 31st March, 2019 (Review Period) in respect of compliance with the provisions of :
(a) the Securities and Exchange Board of India Act, 1992 ("SEBI Act") and the Regulations, circulars, guidelines issued thereunder; and
(b) the Securities Contracts (Regulation) Act, 1956 ("SCRA"), rules made thereunder and the Regulations, circulars, guidelines issued thereunder by the Securities and Exchange Board of India ("SEBI"); The specific Regulations, whose provisions and the circulars/ guidelines issued thereunder, have been examined, include:-
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; *
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018;
(e) Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014;
(f) Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;
(g) Securities and Exchange Board of India(Issue and Listing of Non-Convertible and Redeemable Preference Shares) Regulations,2013;
(h) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(i) All other regulations and circulars / guidelines issued and as applicable to the Company from time to time
* The Company has provided necessary disclosures, however, relevant tabs are not selected for certain filings.
and based on the above examination, We, hereby report that, during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and circulars/ guidelines issued thereunder as applicable to them.
(b) The listed entity has maintained proper records under the provisions of the above Regulations and circulars/ guidelines issued thereunder inso far as it appears from our examination of those records.
(c) There are no actions taken against the listed entity/ its promoters/ directors/ material subsidiaries either by SEBI or by Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various circulars) under the aforesaid Acts/ Regulations and circulars/ guidelines issued thereunder.
(d) This being the first reporting since the notification of the requirement to submit this report, reporting on actions to comply with the observations made in previous reports does not arise.
For SHERLYN REBELLO & ASSOCIATES
ACS No.: 41541
C P No.: 16401