1 .MANAGEMENT DISCUSSION AND ANALYSIS REPORT OVERVIEW The company is in the field of manufacture of two groups of chemicals: 1. Fungicides, Weedicides and their formulations 2. Barium and Strontium Salts (Carbonates, Nitrates and Chlorides) A part of the fungicides and respective formulations are manufactured at Tuticorin. INDUSTRIES STRUCTURE AND DEVELOPMENT Fungicides, Weedicides and their formulations The company used to enjoy a brmium status in the production of Copper Sulphate, Copper Oxychloride and formulations. These products are used as a fungicide in coffee, rubber and cardamom plantation and in a variety of ground crops such as cotton, rice, chillies etc. BARIUM AND STRONTIUM SALTS These products are reserved for small scale sector and are always subject to a brssure on margin on account of competition from this sector. These products find application in television glass, ferrites, paints, heat treatment salts, fireworks, tanneries etc. The factory at Mettur remained closed during the year and is scheduled to reopen soon. OPPORTUNITIES AND THREATS The company is a sick company registered with BIFR and has submitted revival scheme to the operating agency. Also, the company may not be able to re establish its position in many of its earlier products. OUTLOOK Though the company had restarted production at the Tuticorin unit and Mettur Units, the operations brsently remain suspended. The revival of these units as well as the Kalamassery unit will depend on the BIFR approvals. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY The company had established framework of internal controls for ensuring optimum use of resources and safeguarding assets. HUMAN RESOURCES/INDUSTRIAL RELATIONS The company maintains cordial relations with the employees of the company and no man day was lost due to labour problems. The employee strength of the company as on 31.03.2014 stood at 149 nos. For and on Behalf of the Board For TCM Limited Joseph Varghese Managing Director George Varghese Director T S Rajagopalan Director Place: Ernakulam Date :09.08.2014 |