THE INDUSTRY OVERVIEW

India has a transparent; highly technology enabled and well regulated stock / capital market. A vibrant, well developed capital market facilitates investment and economic growth. Today the stock markets are buoyant and have a range of players including mutual funds, FIIs, hedge funds, corporate and other institutions. Domestic savings and capital inflows are channelized in the capital markets.. In recent years, the capital markets have undergone substantial reforms in regulation and supervision. Reforms, particularly the establishment of SEBI, market-determined prices and allocation of resources, screen-based nation-wide trading, t+2 settlement, scrip less settlement and electronic transfer of securities, rolling settlement and derivatives trading have greatly improved both the regulatory framework and efficiency of trading and settlement. There are presently 23 recognized stock exchanges in India.

BUSINESS OVERVIEW

Our Company, Alacrity Securities Limited was founded in December, 1994 as Alacrity Securities Private Limited. Our Company was converted into a Public Limited Company in June 2001 and consequently the name was changed to Alacrity Securities Limited. We are a diversified financial services company in India offering a wide range of products & services covering equity broking, F & O, currency derivatives and depository participants to all kinds of investors, namely, retail, high net worth individuals and Corporate. Our Company is led by Mr. Hiten Mehta who has more than 15 years of experience in the financial markets and have steered the growth of the Company. We are members of Capital Market Segment & Trading Member of Futures & Options Segment of National Stock Exchange of India Ltd. & Bombay Stock Exchange Limited. Also, we are Trading Member of Currency Derivative Segment of MCX-SX and United Stock Exchange of India Ltd. Our business philosophy is always customer oriented and the services are offered under total confidentiality and integrity with the sole purpose of maximizing returns to clients.

FINANCIAL HIGHLIGHTS:

1) Paid up Share Capital of the Company as on 31st March 2015, stands at 21, 08, 00,000 divided into 21, 08, 00,00 number of equity Shares of Rs10/- each fully paid up.

2) The reserves and surplus as on 31st March 2015 is Rs. 5,76,41,614/-

3) Income from operation stood at Rs. 40,46,65,048/- for fiscal 2015

4) Profit/Loss before Taxes of fiscal 2015 was Rs. (1,22,33,561)

5) Basic Earnings per Share for fiscal 2015 was Rs -0.55

6) Net Worth of the company stood at Rs.10,20,87,581/- as on March 2015

REGULATORY:

Our activities are subject to supervision and regulation by multiple statutory and regulatory authorities including SEBI and the exchanges. Company is complying various statutory provisions such as Companies Act Income Tax, Service tax, BSE and NSE provisions and other applicable laws and regulations applicable to the Company.

INTENSE COMPETITION

Our Company faces significant competition from companies seeking to attract clients' financial assets. In particular, we compete with other Indian and foreign brokerage houses, public and private sector commercial banks operating in the markets in which we are present. In recent years, large international banks have also entered these markets. The profitability of the company depends upon volatility of the Company.

MANPOWER & EMPLOYEE RELATIONS:

Alacrity Securities Limited considers human resources a key element .The company has a competency based performance for identifying and developing managerial talent. We are highly dependent on our senior management, our directors and other key personnel. Our future performance will depend upon the continued services of these persons. The loss of any of the members of our senior management, our directors or other key personnel may adversely affect our results of operations and financial condition. Emphasis is laid on providing adequate training to its employee, to meet the attitudinal and cultural values of the organization ethos to achieve the goals set.

The human resources of company are quite enough according to size, volume and transactions of business and employee relations are continued to be cordial during the year.

INTERNAL CONTROL SYSTEM AND ADEQUACY:

Alacrity Securities Limited has adequate internal control systems in place for safeguarding the assets, for ensuring that all transaction are in accordance with the policies of the Company, are duly authorized, recorded and reported. The objective is to prevent possibilities of frauds or other irregularities .The Company is working to further strengthen the systems for internal audit and risk assessment and mitigation.

CAUTIONARY STATEMENT

Statements in the Management Discussion & Analysis, describing the Company's objectives, projections and estimates are forward looking statement and progressive within the meaning of applicable laws & regulations. Actual result may vary from those expressed or implied. Important developments that could affect the Company's operations are significant changes in political and economic environment in India, tax laws, exchange rate fluctuation and related factors. For Alacrity Securities Limited

Whole Time Director & CFO Whole Time Director
Sd/- Sd/-
Kishore V Shah Hiten R Mehta