Atul Ltd 2012-13
31 Internal Control Systems The Internal Control Systems of the Company are commensurate ZLWK WKH QDWXUH RI LWV EXVLQHVV DQG VL]H DQG FRPSOH[LW\ RI LWV RSHUDWLRQV 7KHVH DUH URXWLQHO\ WHVWHG FHUWLÀHG DQG upgraded wherever required by Statutory as well as Internal $XGLWRUV FRYHULQJ DOO NH\ DUHDV RI EXVLQHVV 6LJQLÀFDQW DXGLW observations and follow up actions and recommendations thereon are reported to the higher management and Audit Committee for their review. The Company has an in-house Internal Audit Department FRQVLVWLQJ RI SURIHVVLRQDOO\ TXDOLÀHG PDQDJHUV DQG LV DOVR ZRUNLQJ ZLWK UHSXWHG ÀUPV VSHFLDOLVLQJ LQ LQWHUQDO DXGLW function. The combined efforts are helping the Company to introduce best practices required to manage its growing business that now comprises, amongst others, subsidiary, JV and associate companies in India and abroad. During the year, the Company further strengthened the systems RI LQWHUQDO DXGLW DQG ULVN DVVHVVPHQW DQG PLWLJDWLRQ DQG WRRN VHYHUDO NH\ LQLWLDWLYHV ,Q VSHFLÀF WKH &RPSDQ\ L FRQGXFWHG SURFHVV UHYLHZV LL GHYHORSHG PDQXDOV DQG LPSOHPHQWHG QHZ 623V LLL IRUPDOLVHG VHJUHJDWLRQ RI GXWLHV VWUXFWXUH LY DXWRPDWHG ZRUNÁRZV DQG Y LQLWLDWHG H[HUFLVH WR LGHQWLI\ all the manual forms with a view to automate them. +XPDQ 5HVRXUFHV , QHYHU WHDFK P\ SXSLOV , RQO\ DWWHPSW to provide the conditions in which they can learn. ² $OEHUW (LQVWHLQ The Company continued with its drive to institutionalise and XSJUDGH LWV +5 SURFHVVHV ,Q SDUWLFXODU LW IRFXVHG RQ LPSURYLQJ LWV SURFHVVHV UHODWLQJ WR 3HUIRUPDQFH 0DQDJHPHQW 7UDLQLQJ DQG 'HYHORSPHQW .H\ ,QLWLDWLYHV LGHQWLÀFDWLRQ DQG UHYLHZ &RPSHWHQFLHV GHJUHH IHHGEDFN DQG À[HG DQG YDULDEOH SD\ On an average, 4.5 man days of training was imparted GXULQJ WKH \HDU 7KH WUDLQLQJ QHHG LV LGHQWLÀHG EDVHG RQ VHOI DVVHVVPHQW DQG / DVVHVVPHQW LQ DGGLWLRQ WKHUH DUH FHUWDLQ VWDQGDUG FRXUVHV ZKLFK HYHU\RQH LV H[SHFWHG WR JR WKURXJK GHSHQGLQJ XSRQ KLV KHU JUDGH 7KH LGHQWLÀFDWLRQ DQG UHYLHZ process of Key Initiatives has become more robust and is continuously upgraded. 7KH QXPEHU RI HPSOR\HHV DV RQ 0DUFK GHFUHDVHG by 21 or 1% to 2,716, mainly in Manufacturing Departments. 7KH QXPEHU RI HPSOR\HHV FRPSULVHV WKRVH ZRUNLQJ LQ WKH Company and also in its non-manufacturing subsidiary and DVVRFLDWH FRPSDQLHV EXW QRW WKRVH ZRUNLQJ LQ PDQXIDFWXULQJ subsidiary, JV or associate companies. /RQJ WHUP :DJH 6HWWOHPHQWV ZLWK WKH 8QLRQV DW $QNOHVKZDU DQG 9DOVDG &RPSOH[HV ZHUH VLJQHG DQG FHUWDLQ SUDFWLFHV SUHYDLOLQJ DW 9DOVDG &RPSOH[ VLQFH V ZHUH FKDQJHG IRU WKH EHWWHU IRU WKH ÀUVW WLPH WKLV ZLOO KHOS EULQJ IXUWKHU improvements in people productivity. The Settlement periods ZHUH LQFUHDVHG IURP \HDUV WR DW $QNOHVKZDU &RPSOH[ DQG \HDUV WR DW 9DOVDG &RPSOH[ (PSOR\HH 5HODWLRQV DW DOO locations remain cordial and the endeavour is to completely eliminate the divide that sometimes separates the managers DQG WKH ZRUNPHQ DQG XVH WKH VWUHQJWKV RI HYHU\RQH WR ERRVW the performance of the Company.
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