MANAGEMENT DISCUSSION AND ANALYSIS REPORT FOR THE YEAR 2014-15 ECONOMIC OVERVIEW : The economic conditions in the country in the current fiscal have been challenging with inflation being the major factor driving economic policy. Policy formulation has become more complicated and Indian rupee has tended to remain weak against major international currencies. There was overall slowdown in the economy of the country. FINANCIAL PERFORMANCE Due to overall slowdown in the economy of country, the company achieved profit before tax of Rs.68.78 Lacs during the year under review and it is expected that the company will perform better in coming years. OPPORTUNITIES AND STRENGTHS The Company is searching for new avenues. Your company continues to focus on the diversification its business activities. Although business opportunities are available, additional resources continues to be constraint. BUSINESS OVERVIEW The company has good recognition among its shareholders sbrad throughout country. The company has evolved new vision and focus. The company has a strategy to diversify its business activities in coming years. RISKS AND CONCERNS During the year, your Directors have constituted a Risk Management Committee which has been entrusted with the responsibility to assist the Board in overseeing and approving the Company's enterprise wide risk management framework; and an overseeing that all the risks that the organization faces, identification and assessment of risks and maintaining adequate risk management infrastructure in place capable of addressing those risks. IINTERNAL CONTROL SYSTEMS The Company has satisfactory internal control system. The Company including subsidiaries has an adequate system of internal controls to ensure accuracy of accounting records, compliance with all laws & regulations and compliance with all rules, procedures & guidelines brscribed by the management. An extensive internal audit is carried out by independent firm of Chartered Accountants. An internal team of inspection also regularly visits branches for ensuring regulatory compliance. Post audit reviews are also carried out to ensure follow up on the observations made. HUMAN RESOURCES The company recognizes that its success is deeply embedded in the success of the human resources. The company has significantly scaled up its activities through investment in people and infrastructure. The company nurtures its employees through healthy working atmosphere that ensures equal opportunity for growth and challenge to all the equal opportunity for growth and challenge to all employees. The company believes in creating business leaders by employing best talent in the industry, providing opportunities, empowerment by delegations, training and taking care of their growth. CAUTIONERY STATEMENT The statements made in this report describe the company's objectives and projections that may be forward looking statement within the meaning of applicable laws and regulations. The actual result might differ materially from those exbrssed or implied depending on the economic conditions, government policies and other incidental factors which are beyond the control of the company. The company is not under any obligation to publicly amend, modify or revise any forward looking statements on the basis of any subsequent developments, information or events. For Standard Surfactants Limited PAWAN KUMAR GARG Chairman & Managing Director DIN No. 00250836 Place : Kanpur Date : 27.08.2015 |