Management Discussion and Analysis:
Industry Structure and developments:
The Industry (IT& ITES) has been experiencing excellent growth your company which had its share of problems in the recent slow down, has since taken adequate steps and is poised to witness a turn around. The Company has been able to infuse additional funds through the Banking system and is in a position to achieve better growth in its operations during the year.
Opportunities and threats:
Your company intends to benefit from this steady growth in the outsourcing opportunities and has taken the necessary initiatives in this direction. Recruitment cum training drive has been initiated and the required up gradation in the existing infrastructure and is also being taken up. Your company plans a modest beginning subsequently moving up the value chain thereby increasing the margins.
Segment or product-wise Performance:
Segment-wise or product-wise performance has already been furnished elsewhere in this Report.
Outlook:
This has been already furnished elsewhere in this report.
Risks and concerns:
There is pressure on profitability due to the lack of export orders to execute offshore projects.
Internal control systems and their adequacy:
Your Company placed considerable emphasis on internal control system so as to minimize the costs and improve the efficiencies and existing systems are adequate given the size of the company.
Financial /operational performance:
This has been already discussed elsewhere in this Report.
Human Resources/ Industrial Relations:
The company has since augmented its manpower, by creating positions for President, to look after the Business Development and assisted by a General Manager for training and Technology, Both the positions are manned by highly experienced professionals. The Company has also increased the head count of the software professional who are adequately trained.