Omnipotent Industries Ltd Management Discussions

Industry Structure and Developments

The Company carry on the business of manufacturers of and dealers in Bitumen and Other Similar Bitumen supplement. The Company is also engaged in Import, Export, Trading in Bitumen.

Opportunity and Threats

Companys Marketing team at works and other locations is proactively exploring ways and means to tap new customers. Their efforts do yield positive results from time to time.

Segment-wise or product wise performance and Outlook

The Company has only one reportable segment i.e. Bitumen products.

We are engaged in the business of supplying bulk and packed bitumen as well as other bituminous products. We source our products either through direct imports or buy from third party importers and sell it to our various distributors as well as corporates. We import bulk as well as drum bitumen. We are ISO 9001:2015 and ISO 14001:2015 certified for import, trading and processing of petroleum & petrochemical products.

Our products include bitumen 60/70 & 80/100, bitumen VG10, VG30, VG40; bitumen emulsion, blown bitumen, micro surfacing bitumen and modified bitumen CRMB, PMB, NRMB. Bitumen is most commonly used in construction of roads and highways. Bitumen is also extensively used for surfacing of road and pavements and is also used as adhesive substance in the production of binders. Entire marketing of our products is managed, through a team of sales and marketing personnel. We are also engaged in the consultancy of setting up of plants for Bitumen & Bituminous products. Our consultancy include end to end solutions from identification of land, plant & machinery to imparting training & making policy with staff on marketing & quality testing.

Rainy season from June to September is counted as off season for Bitumen supply in India, as all roads and highways construction are stop during the period and hence demand for the bitumen goes down. We plan for the same according to month wise and state-wise rainfall scenario to push the sale in a particular state as per the timing of rainfall.

Risks and Concerns

The Company evaluates and monitors all risks associated with various areas of operations such as production, sales, inventory Management, debtors Management with a view to counter the adverse impact of the risk factors, to the extent feasible. However, the element of risks and concerns remains as under: -

Price Volatility in key raw materials and consumables;

Natural Calamities, and other Unforeseen circumstances like pandemic, etc; Uncertainty in sustained stability of Rupee Dollar equation.

Internal Control Systems and their Adequacy

Internal Control Systems and procedures in the Company are commensurate with nature and size of its business.

Discussion on Financial Performance with respect to operational performance

The Company has obtained revenue of Rs. 7,19,50,000 from the sale of products during the Financial Year 2022-23. However, the operational activities of the Company were substantially down during the last quarter of the Financial Year ended March 31, 2023 due to the ongoing GST investigation against the Company. The Company is however, reinforcing its staff and working for a better future of the Company.

Human Resources / Industrial Relations

Our people related policies span the entire spectrum of hiring the right talent as best as possible, up-skilling them and motivating them. We do our best to provide our people healthy work environment that encourages sharing of knowledge, concerns and where the cross-pollination of ideas can always bloom. This reflects in their day to day performance at the ground level. However, most of the staff members of the Company resigned during the last quarter of the Financial Year ended March 31, 2023 due to the ongoing GST investigation against the Company and during the F.Y. 2022-23, there were 20 employees in the Company.

Details of Significant Changes in the Ratios