Annexure 3
Textile Industry is one of the leading industries in the world. It is one of the key and main sectors of Indias manufacturing segment as it contributes significantly to the economy in terms of employment generation and revenue.
OPPORTUNITIES & THREATS
The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade. The employment generation looms to better quality technology looms and improved quality of processing industry. However, there are several challenges ahead for the textile industry for enhancing its competitive strength and global positioning in terms of inflexible Labour laws and poor infrastructure etc which will have to be addressed to sustain the growth momentum of the Country.
OUTLOOK
In textiles, your company future growth is quite stable and the outlook of the Company will remain positive RISK AND CONCERN
Indian textile industry in India face many risks which were in the short term, will moderate growth Inflation, high interest rates, depreciating rupees, delays in policy initiatives to boost investments and capital flows.
INTERNAL CONTROLS
The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.
DISCUSSIONON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONALPERFORMANCE
(Rs. In lakhs)
Particulars |
For the year ended 31.03.2023 |
For the year ended 31.03.2022 |
Revenue from Operations |
72.73 |
33.99 |
Profit before Depreciation & Amortization |
-9.58 |
-86.35 |
Depreciation & Amortization |
0.40 |
0.49 |
Profit / (Loss) before taxation |
-9.97 |
-86.84 |
Provision for taxation (incl. deferred tax) |
0.00 |
0.00 |
Profit/ (Loss) for the year carried to Balance Sheet |
-9.97 |
-86.84 |
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT, INCLUDING
Our people are our most important asset and we value their talent, integrity and dedication. Our responsibilities towards our people, who are instrumental to our success with their devotion and relentless support covers a quantum part of the company strategy. We believe that training is essential to build skill sets in growing organization. The focus has been to create an environment where performance is rewarded, individuals are respected and associates get opportunities to realize their potential.
As in the past, industrial relations continued to remain cordial in the Company. There was no strike or labour unrest during the period under review.
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