MANAGEMENT DISCUSSION AND ANALYSIS REPORT The Management of IGC Foils Limited in its Analysis Report has highlighted the performers and outlook of the Company in order to comply with requirement of Corporate Governance as laid down Clause 49of the Listing Agreement. However investors and readers are cautioned that this discussion contains certain forward looking statements that involve risk and uncertainties. Industries Structure and Development:- The Company at brsent is not carrying any business activity. The Directors of the Company are making strenuous efforts to revive the business of the Company as the erstwhile Directors had caused immense loss to the Company by their illegal and fraudulent acts including siphoning and misappropriation of funds and assets of the Company. Financial Review:- The Indian Economy during the year displayed distinct signs of strong long term growth. The Company could not carry out manufacturing activity during the year under review. Opportunities and threats:- The company is yet to decide its future course of major activity which is expected to be finalized during the ensuring year. Segment wise Performance:- The company had only one business segment i. e. Trading in Fabrics during the year. Internal Control Systems and Adequacy:- The Company has adequate internal procedures, commensurate with its size and nature of its business. The systems are adequate for safeguarding the assets of the company and brventing their unauthorized use or disposition. However the management is under constant endeavor to strengthen the same further. Human Resources Cautionary Statement and Industry Relations:- Not Applicable. Statement in this “Management discussion and analysis Report” describing the company’s projections, estimates, expectations or brdictions may constitute “forward looking statement” within the meaning of applicable laws and regulations. Actual results might differ materially from those either exbrssed or implied. Code of Conduct:- The code of conduct for all the members of the Board and senior management of the Company has been brpared. For and on behalf of Board of Directors M/s. IGC Foils Limited Sd/- Mrs. Disha Mehta Managing Director Place:- Kolkata Date:- 30.05.2015 |