fishing falcons ltd Management discussions

Overview

We always want to look ahead and push ourselves to reinvent and reinnovate. We took this opportunity to be introspective and realised our core strengths. We do not see these restrictions as a hurdle but an opportunity to explore new markets and new fields. We believe that with over 36 years of combined management experience in the capital markets and corporate space in India enable us to be competent in this field, its activities in Broking.

Industry Structure and Developments

The Company is a Corporate Member of the National Stock Exchange of India Limited (NSE) in the Capital Market, Future & Option and Currency Derivative Segments, the Bombay Stock Exchange (BSE) in the Capital Market Segment, Multi Commodity Exchange and the Company is a DP on CDSL.

The Company follows all the rules and regulations of the respective exchange for depository / SEBI.

Opportunities and Threats

The Company being a player in the financial market, the performance of the Company largely depends on the National and Global Capital Markets. The High volatility in the market along with higher inflation has intensified the competition. Your Company continues to achieve cost effectiveness through the application of technology. We have been fashioning our own responses to these challenges and we believe that we can turn them into opportunities, which can unlock growth for us in the future.

Opportunities

1. Growing Financial Services industrys share of wallet for disposable income.

2. Regulatory reforms would aid greater participation by all the class of investors.

3. Leverage technology to enable best practices and process.

Threats

1. Execution Risk

2. Slowdown in global liquidity flows

3. Intense competition from local and global players.

4. Unfavourable economic conditions

Segment –wise or product wise performance

The Company carries on 100% Stock Broking which is its core activity.

Internal Control & Adequacy

The company has adequate internal control system to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition.

Risk Management System

The company manages our business risk through strict compliance and internal control system.

Risk and Concerns

Any adverse change in the financial services business or negative policy of Government will affect the companys sector adversely.

Outlook

Company is focusing on service-based activities. We believe that with over 33 years of combined management experience in the capital markets and corporate space in India enable the company to be competent in this field The company has decided to venture into different business through investments in subsidiaries company.

Details of significant changes

As at As at

%

Particulars March 31, March 31, Reason for Variance Change 2023 2022

(i) Current Ratio 1.31 1.27 3.54 -(ii) Debt Equity Ratio 2.82 3.34 (15.72) -(iii) Interest Coverage 7.32 7.21 1.56 Ratio -(iv) Debtors Turnover 4.39 4.14 6.26 Ratio - (v) Net Capital 1.16 1.31 (11.57) turnover ratio -

High profit margin due to ^{(v) Net Profit Ratio(%) 18.56% 12.31%} 50.71 increase in income Improvement in (vii) Return on Capital 38.42 operating profit due to employed(%) ^{30.38% 21.95%} increase in income

Increase in profit margin (iv) Return on 18.78% 14.11% 33.09 is high due to increase in networth(%) income

Human Resource

Company has adequately trained and well experienced personnel. Our employees are highly motivated and work in line of the organizational goal.

Cautionary Statement

The statements made in this report describe the Companys objectives and projections that may be forward looking statements within the meaning of applicable laws and regulations. The actual results might differ materially from those expressed or implied depending on the economic conditions, government policies and other incidental factors, which are beyond the control of the Company.