MANAGEMENT DISCUSSION AND ANALYSIS 1. Industry structure and development The financial year 2014-15 was a year of consolidation for domestic economy .The industrial growth increased to 6.1% in F.Y. 2015 from 4.5% a year ago. The service growth also increased to 10.2% in F.Y.2015 from 9.1% in F.Y. 2014 2. Overview The financial statements have been brpared in compliance with requirement of Companies Act and guidelines issued by SEBI. 3. Outlook Growth in Gross Domestic Product is expected to accelerate in current fiscal year on improved performance of industry and services. This is due to supportive monitory policy, lower trend in inflation etc. The Company's activities will have major emphasis on Investment Banking that will include Equity Capital Market, Advisory Services relating to capital raising etc and dealing in shares and securities. 4. Opportunities and Threats There are and always will be challenges, from outside & within. The company aims to address risk, opportunities & threats posed by its business environment strategically. The improved economic & investing activity may result in emergence of many opportunities, but these will have to be carefully evaluated in the long term interest of the company and its Shareholders. 5. Segment wise Reporting During the year under review Company had only one segment viz Finance 6. Risk & Concerns: Your company is in continues process of cost control and is taking cost reduction measures. We take all necessary steps to identify, measures & manage risk effectively. 7. Internal Control System: The company maintains an adequate and effective internal control & risk mitigation system commensurate with its size & natur of Business. The observations of the audit committee, which met four times during the year were taken into consideration. 8. Financial Performance: The total income from operation increased to Rs.22.14 Lakh from Rs.8.42 Lakh and the company incurred a loss of Rs. 19.47 Lakh, as against loss of Rs. 8.20 Lakh in the last year. 9. Human resources management: Relation with the employees continued to remain cordial during the year. Training is imparted as per the requirement of the job 10. Cautionary statement: Statement in the Management Discussion and Analysis and Statement forming part of Directors Report may contain forward looking & progressive statements within the meaning of applicable security laws & regulations. Actual results may vary from those exbrssed or implied depending upon economic condition, Government policies & other incidental factors. For and on behalf of the Board DINESH GUPTA Managing Director & Jt. Managing Director & C.F.O. SATISH KUSUMBIWAL Company Secretary Place : Mumbai Date : August 28, 2015 |