MANAGEMENT DISCUSSION AND ANALYSIS REPORT As a result of the widesbrad economic slow down, the impact is seen in the TDL’S profit before tax in the year under report, that is, F.Y. 2014–15. It stands at Rs. 1131.54 lac which is 98.17% of brvious year’s profit. The turn-over of the company in the year under report has, however, shown a marginal increase from Rs. 4643.24 lakhs in 2013-14 to Rs. 4676.06 lakhs in F.Y. 2014-15. In this direction, TDL has started five new ambitious projects, namely, Richmond Heights and Richmond Bungalows at Pathardi Phata, Skyland Project and Thakkers Sonnet, at Gangapur Road and Thakkers Paradise at Makhmalabad Road. As regards the super residential Eva-Luxuria, we have added a new segment of Row-Houses in this project. As in the past two years, the company has decided not to declare any dividend this year. This decision is expected to further strengthen the company ‘s resources and to help its performance to a great extent. Human Resources We have built up a cordial relation with the Company's employees by bringing into practice a human resources philosophy which aims at providing the best to employees so that they, in turn, would give their best in their work. The procedures that we are following in this respect are found to be working effectively in various disciplines. This has resulted in reduced cost and timely deliveries to the full satisfaction of our customers. Several interactions are regularly arranged in order to augment the efficiency and responses of the employees to performance expectations of the management. Internal Controls The company has continued with the internal control system for purchase, marketing and finance, as developed by itself, which is found to be effectively useful. These three aspects are upgraded as and when necessary so that transactions are correctly authorized and recorded. The system also ensures that the financial statements are realistic and helps the management to review the actual performance. These statements are extremely important because on their basis only, decisions are taken by the company from time to time. The accounting method which we are following conforms to the percentage of completion. Accurate reflection of performance is the benefit that we get from this method. ISO Certification The Quality Management System of the company has been duly registered by the International Standards Certifications Pty.Ltd., Sydney, Australia as complying with the requirements of the International Standard 9001-2008. CRISIL Rating India's leading rating agency CRISIL, has assigned 'SE 1A' (Highest Performance Capability and High Financial Strength) rating to our Company. Dematerialization of Company's Equity Shares The Company has been working as per the Permission for Dematerialization of Company's Equity Shares as granted by the Central Depository Services Limited (CDSL) on 29/03/2005, and National Securities Depository Limited (NSDL) on 18/01/2006. The ISIN No. alloted to the company is INE403F01017. For and on behalf of the Board of Directors. JITENDRA M. THAKKER CHAIRMAN PLACE: NASHIK DATE: 25/07/2015 |