MANAGEMENT DISCUSSION & ANALYSIS REPORT BUSINESS REVIEW We are engaged in the business of providing services to banks and financial institutions by acting as direct selling agents for their various financial products. As on the date, we are empanelled with more than 18 financial institutions which includes, Housing Development Finance Corporation Limited (HDFC Limited), Dewan Housing Finance Limited (DHFL), Religare Finevest Limited, Bajaj Finserv Limited, Tata Capital Housing Finance Limited, Magma Fincorp Limited, Kotak Mahindra Bank Limited, HDB Financial Services Limited, PNB Housing Finance Limited, India bulls Housing Finance Limited, Fullerton India Credit Company Limited, L&T Housing Finance Limited, Cholamandalam Investment & Finance Company Limited among others, to act as Direct Selling agents for various banks & Financial Institutions. We generally source our prospective clients through field marketing and direct calling. We are currently brsent in Chandigarh, Punjab, Haryana, Delhi and Uttar Pradesh. We usually refer the database of various industry associations including chartered accountants, CII, among others. Our products and services Following are the financial products which we sell as Direct Selling Agents: a) Mortgage Loans and Mortgage linked Insurance b) Home Loans c) Corporate Loans d) Auto Loans e) Personal Loans Our services to the banks and financial institutions include: a) Sourcing clients and documentation of files of clients for various banks and financial institutions b) Getting credit approval and completing disbursal documentations c) Giving loans to credit worthy clients from owned funds FINANCIALS The financial performance of the Company for the financial year ended March 31, 2015 is given as under:- INDUSTRY STRUCTURE & DEVELOPMENT Indian economy is going through a period of rapid 'financial liberalization'. Today, the 'intermediation' is being conducted by a wide range of financial institutions through a plethora of customer friendly financial products. Emerald leasing finance & Investment Company Limited today has emerged as a strong & reliable player in a fiercely competitive market of financial services. Emerald leasing finance & Investment Company Limited has built a strong brsence in the market through its cumulative experience, strong distribution network as well as sound systems and processes. The company's long-term aspiration is to play a significant role in meeting the financial requirements of retail customers as well as corporate clients. INFORMATION TECNOLOGY Our company constantly upgrades its technology both in terms of hardware and software. This also helped installing a good management information system for the management to get timely information for decision making. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY Our Company has built adequate systems of internal controls towards achieving efficiency and effectiveness in operations, optimum utilization of resources, and effective monitoring thereof as well as compliance with all applicable laws The internal control mechanism comprises a well-defined organization structure, documented policy guidelines, brdetermined authority levels and processes commensurate with the level of responsibility. HUMAN RESOURCES Our Company continues to lay great stress on its most valuable resource -people. Continuous training, both on the job and in an academic setting, is a critical input to ensure that employees at all levels are fully equipped to deliver a wide variety of products and services to the customer of the company. RESPONSIBILITY FOR THE MANAGEMENT DISCUSSION AND ANALYSIS REPORT The Board of Directors have reviewed the Management Discussion and Analysis brpared by the Management. Statement in this report of the Company's objective, projections, estimates, exceptions, and brdictions are forward looking statements subject to the applicable laws and regulations. The statements may be subjected to certain risks and uncertainties. The Company assumes no responsibility in respect of forward looking statements that may be amended or modified in future on the basis of subsequent developments, information or events. DETAILS UNDER SECTION 197(12) OF THE COMPANIES ACT. 2013 READ WITH RULE 5(1) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES. 2014 It is hereby affirmed that the remuneration paid during the year is as per the Remuneration Policy of the Company. For & On Behalf of the Board SD/- (Sanjay Aggarwal) MANAGING DIRECTOR (DIN 0 2580828) SD/- (KiranAggarwal) DIRECTOR (DIN 02557045) PLACE: CHANDIGARH Date: August 17, 2015 |