view / download the documents. - til india

with all applicable rules. The Internal Control System iscommensurate with the size and nature of operation. A firm ofChartered Accountants conducts the internal audit. The Companyhas an Audit Committee which reviews Audit Reports submittedby the Internal Auditors. The Committee also meets Company’sStatutory Auditors to ascertain their views on the adequacy ofinternal control systems and keeps the Board of Directors informedof its major observations from time to time.DISCUSSION ON FINANCIAL PERFORMANCE WITHRESPECT TO OPERATIONAL PERFORMANCETotal income of TIL for the year grew 16% to Rs. 87,579 Lacs fromRs. 75,548 Lacs in 2007-08. PBT for the year stands at Rs. 5,057Lacs compared to Rs. 5,025 Lacs in the previous year.EBIDTA for the year is Rs. 8,528 Lacs (i.e. an increase of 8.94%)vis-à-vis Rs. 7,828 Lacs in 2007-08.On an activity basis, TIL transacted Rs.99,955 Lacs in 2008-09,which is an increase of 12% in comparison to 2007-08.The consolidated group income for the year stands at Rs. 107,353Lacs vis-à-vis Rs. 109,594 Lacs in 2007-08. The consolidated PBTis Rs. 6,530 Lacs as against Rs. 6,569 Lacs in the previous year.KNOWLEDGE RESOURCESThe Company accords high priority to people development andenhancement of knowledge and skill levels for all its employeeswhich continues to remain a focus area. To this direction the Companyhas institutionalized performance management system, adoptingBalanced Scorecard principle where strategy of the organization iscascaded across all levels. Skill development of people have beenaddressed through various training programmes and workshops.Initiatives have been taken for creation of talent pool through freshinduction and enabling active managerial participation in careerprogression and succession planning. Several activities have beenadopted for enhancing employee engagement and motivation forcreating ideal work environment. The focal point of the KnowledgeResource Management has been the implementation of Oracle ERPfor the organization including self service HR, which helps in fasterinformation generation and decision making across all levels in theorganization. As on 31st March, 2009, your Company’s employeestrength stood at 1331.INDUSTRIAL RELATIONSThe industrial relation was harmonious and cordial with all workmenand unions.CAUTIONARY STATEMENTCertain statements made in the Management Analysis and Reportrelating to company’s objectives, projections, outlook, expectations,estimates etc. may constitute `forward looking statements’ withinthe meaning of applicable laws and regulations. Actual results maydiffer from such expectations, projections etc., whether expressor implied. Several factors could make a significant difference tothe company’s operations. These include economic conditions,political scenario, pace of country’s infrastructure development,Government regulations and taxation, natural calamity etc. overwhich the company does not have control.