Nam Securities Ltd Management Discussions

(Forming part of Directors Report)

As per the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, Management Discussion and Analysis Report is provided as under:

Business Outlook

Reports of various agencies and leading economists reflect that there is an early sign of revival of economic with strong positive sentiments. Growth in GDP numbers and other economic parameters being +ve economic scenario looks favorable for coming years.

However Fiscal deficit, Inflation still remains a cause of concern and any negative news form global front may hurt the positive market sentiments. Despite the challenges, the outlook seems positive. There is a sense of optimism for the future.

Industry Performance

The Stock Broking Industry is a cyclical industry and performance of the industry is correlated to economy and broader equity market. After being beaten down for the past several years, stocks of brokerage firms have finally witnessed an upswing, thanks to the positive market sentiment seen in the run-up to the election results. Expectations of better economic scenario the markets entering the first leg of bull phase that started in Jan. have translated into increase in client activity resulting growth in revenue earnings.

Strength of the Company

i) Experienced top management

The promoter of NAM Group Mr. Ashwani Goyal & Mrs. Kiran Goyal is associated with financial market related services for over three decades. Our top management team comprises of qualified and experienced professionals, with proven track record.

ii) Complete Access to Capital Market

We cater to provide complete access to Capital Markets. We have presence in Equities, Derivatives, Currency, Depository, and IPO Distribution by obtaining membership of NSE, BSE and Metropolitan Exchange& DP with NSDL.

iii) Quality research

Research is the solid foundation of any Brokerage firm and we believe in providing quality research reports to our client so that they can take informative and timely decisions. We are known for our expertise in Market research and Reports have received wide coverage in the media over the years.

Future Prospects

Improvement of overall economy and significant change in market sentiment future prospects of the business looks positive. Last few months have seen a revival in the number of clients trading per day, with increase in daily call trading volumes and new account opening. With policy changes and reforms from new government it is expected that there will be a greater participation by all investors in coming years which will be beneficial for company in long run.

Opportunities

• Overall economic outlook being positive, business is set for a growth.

• A greater participation of all class of investors is expected with change in overall market sentiment.

• Management is looking to expand by opening new branches.

Threats

• Cut throat competition thrown by local and global players.

• Unclear global scenario may impact investors sentiment.

• Rapid technological developments.

Exchange Risks

Our business is mainly domestic based so we are not exposed to any risk associated with change in currency exchange rate.

Risk Management

Risk is an inherit 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 companys Internal Controls are supplemented by sound internal audit practices conducted by the experienced chartered accountants, to assess the adequacy of the internal controls procedures and processes, and their reports are reviewed by the Audit Committee of the Board. Policy and process corrections are undertaken based on inputs from the internal auditors.

Human Resource Development

Your Company lays great emphasis on proper management of human resource and recognizes human assets as a primary source for the accomplishment of its long-term goals and objectives. Your company has qualified, ready to take challenges in day to day activities. Their on-time performance allows us to run the Company smoothly.

Segment

The company is principally engaged in a single business segment viz: Broking & Trading in Shares, Mutual Funds & Depository services.

Discussion on financial performance with respect to operational performance

The Companys financial performance with respect to Operational performance is already discussed in Directors Report which forms a part of this Annual Report.

Industrial Relation

The management and employees enjoy a cordial relationship and objective of both of them are in line to meet the overall objectives of the company.

Cautionary Statement

Statement in this report on Management Discussion and Analysis describing the projections, estimates, expectations or predictions may be "forward looking statements "which the meaning of applicable securities law or regulations. These statements are based on certain assumptions and expectations of future events. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company operations include global and domestic demand supply conditions, Government regulations, tax regimes, economic developments and other factors such as litigation and business relations.

For and on Behalf of the Board of Directors

	Sd/-	Sd/-
	(Ashwani Goyal)	(Kiran Goyal)
Date: 06.09.2023	Director	Managing Director
Place: New Delhi	DIN:00502989	DIN:00503357