Dear Members,
With an immense pleasure, the Board of Directors of your Company presents the 39th Annual Report of the Company together with the Audited Financial Statements for the Financial Year ended March 31, 2023.
FINANCIAL HIGHLIGHTS:
The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 read with Rule 7 of the (Companies Accounts) Rules, 2014.
The financial performance of the Company, for the financial year ended on March 31, 2023 are summarized below:
ii (^ in Lakh) ^
FINANCIAL RESULTS: |
Year Ended 31.03.2023 | Year Ended 31.03.2022 |
Operational Income |
32773.62 | 36905.33 |
Other Income |
861.45 | 804.78 |
Total Income |
33635.06 | 37710.11 |
Profit/loss before depreciation, Finance, Costs, Exceptional items and Tax Expense |
5308.23 | 7915.02 |
Less: Depreciation |
819.32 | 795.32 |
Profit/loss before Finance, Costs, Exceptional items and Tax Expense |
4488.91 | 7119.69 |
Less: Finance Cost |
380.41 | 382.46 |
Profit/Loss before Exceptional Items and Tax Expense |
4108.51 | 6737.23 |
Less: Exceptional Items |
0 | 0 |
Profit/ (Loss) before tax |
4108.51 | 6737.23 |
Current Tax Provision |
1101.82 | 1599.56 |
Deferred Tax Provision |
0.43 | 21.63 |
Profit / (Loss) for the year |
3006.26 | 5116.05 |
Add: Balance of profit brought forward from previous year |
17112.20 | 12031.19 |
Less: Dividend Paid |
(43.79) | (35.04) |
Balance Carried to Balance Sheet |
20074.67 | 17112.20 |
OPERATIONS:
Total Income
During the Financial Year, it is noted that the total income for the financial year ended on March 31, 2023, amounted to ^33,635.06 Lakh, representing a decrease of 10.81 % compared to the total income of ^37,710.11 Lakh for the previous financial year ended on March 31, 2022.
The profit before tax for the financial year ended on March 31,2023, amounted to ^ 4108.51 Lakh, representing a decrease of 39.02% compared to the profit before tax of ^ 6737.23 Lakh for the previous financial year ended on March 31, 2022.
Profit After Tax
The profit after tax for the financial year ended on March 31,2023, amounted to ^ 3006.26 Lakh, representing a decrease of 41.24% compared to the profit after tax of ^ 5116.05 Lakh for the previous financial year ended on March 31, 2022.
The companys earnings per share for the financial year 2022-2023 was ^ 34.33.
BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Annual Audited Financial Statements for the Financial Year 2022-2023, forming part of this Annual Report, have been prepared in accordance with Indian Accounting Standards (Ind-AS) notified under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015 and requirements of Division II of Schedule III of Companies Act, 2013 and applicable Rules (hereinafter referred to as "the Act") and in accordance with applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirement) Regulations, 2015 (hereinafter referred to as the "Listing Regulations").
TRANSFER TO RESERVES
During the year, the Company has not apportioned any amount to other reserve. The profit earned during the year.
DIVIDEND
During the review period, the Company experienced a decrease in profit. However, considering the interests of our shareholders and in accordance with the Companys established track record and practice, the Board of Directors, in its meeting held on August 14, 2023, has recommended a final dividend of ^0.50 per equity share of W- each for the Financial Year 2022-2023. This dividend amounts to ^43,79,000 and is subject to the approval of the Members at the ensuing Annual General Meeting.
Furthermore, if the dividend is approved by the shareholders at the ensuing Annual General Meeting, it will be disbursed to those members whose names appear in the Register of Members as beneficial owners on the record date, which is Friday, September 22, 2023. The Registrar & Transfer Agent of the Company will furnish the list of Register of Members for dividend distribution.
The shareholders are requested to note that the information pertaining to the Tax Deduction at Source on dividends paid which have become taxable in the hands of shareholders w.e.f. April 1, 2020 in pursuance to the amendment in Finance Act, 2020, has been mentioned in the notes to the Notice of this Annual General Meeting forming part of the Annual Report.
CORPORATE GOVERNANCE
Your Company has complied with the requirements of corporate governance as prescribed under Schedule V of the SEBI (LODR) Regulations, 2015. A separate report on corporate governance forms the part of the annual report as ANNEXURE-K. certificate from the Practicing Company Secretary regarding compliance of conditions of Corporate Governance is presented under a separate section, which forms part of this Annual Report.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.