33 / 140
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.