MANAGEMENT DISCUSSION AND ANALYSIS REPORT Industry Structure & Development India has a diversified financial sector with banks, non banking financial companies, mutual funds, pension funds, cooperatives, insurance companies etc. During 2014-15, foreign players increased their investments in equities market by 39.67 percent by pumping 111333 crores during 2014-15 as per the website article of the Economic Times in April 2015. Opportunity and Threats The Capital market witnessed ups and downs during 2014-15 but overall the market was quite stable and growing. There were various opportunities and threats during the ups and downs. The management took steps to cash in on various opportunities and at times also observed threats to the erosion of investments. Segment wise or product wise performance The Company has three reportable segments viz. sale and purchase of shares (Trading and Investment), Financing Busine ss (Granting of Unsecured Loans), etc. Outlook The Share market looks very solid in long term. Reports of various agencies and leading economists reflect that there is an early sign of revival of economic growth with strong positive sentiments. Growth in GDP numbers and other economic parameters being positive overall economic scenario looks favorable for coming years. Risk and Concern Risk is an inherent part of any business but risk can be managed. We have a clearly formulated risk management system in place to identify both external and internal risk and to take appropriate corrective action on time. Internal Control System and their Adequacy The Company has an adequate system of internal control implemented by the management towards achieving efficiency in operations, optimum utilization of resources and effective monitoring thereof and compliance with applicable laws. The Companies internal controls are founded on sound internal audit practices. The experienced professionals take care of the internal control sytems. Financial performance vis-à-vis operational performance The Company earned a profit of Rs. 23.46 Lacs during 2014-15 as compared to Rs. 20.43 Lacs during 2013-14. The operational income was Rs. 227.30 Lacs as compared to Rs.102.42 Lacs during the brvious year. Material Development in Human Resources The Management and Employees enjoy a cordial relationship and objective of both of them are in line to meet with the overall objectives of the company. Acknowledgement Your Director would like to exbrss their grateful apbrciation for the assistance and continued co-operation extended by the Bankers, Government Agencies, Shareholders, customers, and wish to place on record their deep sense of commitment shown by the employees at all levels and acknowledge their contribution for the smooth operation of the Company during the year under report. For Titan Securities Limited For Titan Securities Limited Manju Singla Naresh Kumar Singla Managing Director Director DIN 00027448 Date :27.08.2015 Place:Delhi DIN 00027790 |