INDUSTRIES STRUCTURE & DEVELOPMENT
Due to the present business scenario it has become extremely competitive & difficult to carry on with business associated with NBFCs Companies in any significant manner. The Management is looking for the appropriate time to re enter this business as soon as the business climate & economy improve.
Opportunities & Threats
The Company is facing tough competition in its lending business from large NBFCs & Banks. It is difficult to continue with leasing & Hire Purchase activity. The Companys main Income is from stock market related operations and since the market is extremely volatile it offer ample opportunities to make meaningful Investments/profits. However returns on these Investments are intricately related with external factors and market conditions.
Segment Wise or Product wise Performance
The Company main activity is sale & purchase of equity and trading in commodities and has negligible lending /hire purchase business and performance is as per market conditions.
OUTLOOK
With the world economy looking up , and the recession receding, India is poised for rapid growth over the next decade, which augurs well for the economy in general and would likewise benefit the Company.
RISKS AND CONCERNS
High interest regime in the economy may act as a dampener in the business of financing. There is also stiff competition with entry of large players in the market.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an adequate system of Internal control to ensure accuracy of accounting records, compliance with all laws & regulations and Compliance with all rules & guidelines prescribed by management. The Audit Committee of Board reviews the scope and observations of the internal audit on regular basis.
FINANCIAL PERFORMANCE
The company have a loss for the year to Rs. 6.37 Lacs the total accumulated losses at the end of the financial year 2022-23 amounted to Rs. 506.64 lacs.
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
The Company has adequate competent staff to carry out the day to day operations. In addition in order to ensure greater accountability efficiency the company imparts regulate training to its employees.
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
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