MANAGEMENT DISCUSSION AND ANALYSIS This report discusses and analyses the performance for the year ended 31st March 2015. Operation and Industry The company is in the business of sale, purchase and leasing of Software within and outside India. Company has many new projects to expand its business in the coming years. The Indian Software Industry plays an important role in increasing the GDP of the economy of the Country and is on expansion with passing of time. Opportunities and Threats The Countries like China and Philippines are also creating competition in Software Industry But; we have an edge over others with our quality and timely execution of services. The dynamic business conditions and adverse movement of foreign exchange rate of the Rupee is major concerns for the growth of the industry. The Company is contributing positively in the same and providing the best services to the customers. Outlook The company is taking all efforts to improve the quality of its Services and to take more projects and has been involved in diversified activities in the Software Industry. Company is maintaining high quality products and services and confident of achieving better results in the future. Internal Control Systems and their Adequacy The Company has a proper and adequate internal control system to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and those transactions are authorized, recorded and reported correctly. The internal control is exercised through documented policies, guidelines and procedures. It is supplemented by an extensive program of internal audits conducted by in house trained personnel. The audit observations and corrective action taken thereon are periodically reviewed by the audit committee to ensure effectiveness of the internal control system. The internal control is designed to ensure that the financial and other records are reliable for brparing financial statements and other data, and for maintaining accountability of persons. Financial and Operational Performance The financial statements have been brpared in compliance with the requirements of the Companies Act, 1956. Please refer Directors' Report in this respect. Human Resources/Industrial Relations The Company's HR philosophy is to establish and build a high performing organization, where each individual is motivated to perform to the fullest capacity to contribute to developing and achieving individual excellence and departmental objectives continuously improve performance to realize the full potential of our personnel. Cautionary Statement Statements made herein describing the Company's expectations or brdictions are "forward-looking statements". The actual results may differ from those expected or brdicted. Prime factors that may make a difference to the Company's performance include market conditions, input costs, govt. regulations, economic development within/outside country etc. |