MANAGEMENT DISCUSSION AND ANALYSIS REPORT Market overview Newer processes and materials, electronic form of business and geo-political events have caused volatility in commodity prices, consequently reset in their values. 'Technology The Deflator' has had its effects and is redefining the value chain in the manufacturing sector over the global marketplace. Governments and Central Banks globally are working to balance interest rates and inflation, and have limited ability to use exchange rates for the purposes. Opportunities and threats The expected changes in the Manufacturing processes with emphasis on cheaper raw materials and other input casts will be the key to greater profitability. Risk Management practices will have to discharge a business supportive role, with focus remaining on containing risks of counter party. Segment-wise or product-wise performance The Company operates in a single segment, and therefore, there are no separate segment wise details to be provided. Internal control systems and their adequacy The Company has adequate internal control systems commensurate with the size and nature of its operations. Accounts of the Company The Company has brpared its annual accounts for the year ended March 31, 2015 in accordance with Indian GAAP. |