iifl-logo-icon 1

AXISCADES Technologies Ltd Directors Report

Jul 12, 2024|03:32:59 PM

AXISCADES Technologies Ltd Share Price directors Report


The Members,

Your Directors have pleasure in presenting the Thirty Third (33rd) Annual Report on the business and operations of the Company, along with the audited financial statements for the financial year ended March 31, 2023. The Consolidated performance of the Company and its subsidiaries has been referred to, wherever required.


( Rs. Lakhs)




2022-23 2021-22 2022-23 2021-22
Total income 28,469.98 18,402.64 82,758.05 61,940.02
Total expenditure (before interest & depreciation) 24,235.00 16,675.14 67,605.69 53,966.99
Earnings before interest, depreciation, amortization and 4,079.85 1,522.93 13,754.78 6,873.78
extra-ordinary items
Interest & finance charges 3,342.48 1,171.56 3,589.98 1,575.41
Depreciation & amortization 1,093.65 950.96 2,651.83 2,506.06
Earnings/before Tax and Exceptional Items (201.15) (395.02) 8,910.55 3,891.56
Share in net profit/(Loss) of associate - - (4.41) (45.82)
Exceptional item (1,664.87) 750.42 (6,803.74) (169.34)
Profit/(Loss) before Tax (PBT) (1,866.02) 355.40 2,102.40 3,676.40
Provision for Tax – Current & Deferred 116.85 47.52 2,582.22 1,408.49
Net Profit/(Loss) after Tax (PAT) (1,982.87) 307.88 (479.82) 2,267.91
Minority Interest - - 43.43 44.59
Profit/(loss) for the period (1,982.87) 307.88 (523.25) 2223.32
Basic (5.21) 0.81 (1.37) 5.86
Diluted (5.21) 0.80 (1.37) 5.76


During the financial year 2022-23, the Company achieved 33.7% growth in overall revenue. Its key verticals, namely, Aerospace, Product Engineering Services and Product & Solutions grew by 44.3%, 33.5% and 51.3% respectively. Our recent foray in the automotive & energy segments is scaling up well. Both segments have delivered robust growth, north of 50% in this fiscal year. Going forward, both these segments will grow substantially and will form significant portion of our revenue. The Engineering design services revenue has grown by 28.8% Y-o-Y and the Strategic Technology Solutions vertical by 51.3%. In FY23, the Company has made considerable progress, in de-risking the business, with three-pronged approach of ‘vertical diversification, customer diversification and digital first and it will continue to execute its strategy in coming years. In FY24, our focus will be to further consolidate our business, to make it more sustainable and profitable.


Total Income increased by 54.71% in 2022-23 to 28,469.98 lakhs. EBIDTA increased by 167.9% to 4,079.85 lakhs and Loss before tax and exceptional items is (201.15) lakhs in 2022-23. Net loss after tax stood at 1,982.87 lakhs in 2022-23.


Total Income increased by 33.61% to 82,758.05 lakhs in 2022-23. EBIDTA increased by 100.1% to 13,754.78 lakhs in 2022-23. Profit before tax and exceptional items increased from 3891.56 lakhs to 8,910.55 lakhs in 2022-23. Net Profit/(loss) after tax, before minority interest, Decreased by (123.5)% to (523.25) lakhs in 2022-23.


The Company has not transferred any amount to its general reserves for the Financial Year ended March 31, 2023.


Considering need for conservation of funds for catering to the growth plans of the Company, your Directors consider it expedient to pass over dividend for 2022-23.

In terms of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations), the Board has formulated and adopted the Dividend Distribution Policy. The Policy is available on our website at https://www.axiscades.com/investors_data/corp_ policy/DividendDistributionPolicy_18Aug2023.pdf


The particulars of loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of the Notes to the financial statements provided in the Annual Report and furnished as Annexure-1.


The Company has not accepted/renewed any public deposits and as such no amount on account of principal or interest on public deposits under Section 73 of the Companies Act, 2013, read with Companies (Acceptance of Deposits) Rules, 2014 was outstanding as on the date of the Balance Sheet.


The Companys shares are listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). Stock performance and stock data of the Company are furnished in the section on Corporate Governance.

During the financial year 2022-23, the Company has allotted 89,000 equity shares under ESOP Plan which were listed on NSE and BSE vide letters NSE/LIST/2022/31324 and LOD/ESOP/ TP/No.90/2022-2023 and 196,280 equity shares listed on NSE and BSE vide letters NSE/LIST/2022/33763 and LOD/ESOP/TP/ No.197/2022-2023 respectively.


During the year 2022-23, the Company has raised an amount of 145 crores by way of issuance of Unlisted, Unrated, Secured, Redeemable, Non-convertible Debentures on a Private Placement basis.

The outstanding number of Non-Convertible Debentures as on 31st March 2023 is 1,450.


The particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act 2013 are furnished in the prescribed form AOC-2 as Annexure I to this Report. All transactions with the related parties during the financial year were in the ordinary course of business. The transactions have been approved by the Audit Committee, the Board and the Shareholders, wherever required. Your attention is drawn to the Notes to the financial statements, in this respect.

The Company has not entered into transactions with related parties, which are considered material in accordance with the policy of the Company on material related party transactions formulated as per the requirements of Listing Regulations. The Policy on materiality and dealing with related party transactions formulated and approved by the Board is posted on the website of the Company and is accessible at www.axiscades.com.


There were no material changes and commitments affecting the financial position of the Company, which occurred between the financial year end and the date of this report, save and except for the following: The Company entered into a Share Purchase Agreement (‘SPA) on December 1, 2017, to acquire 100% stake in Mistral Solutions Private Limited (‘MSPL) along with its subsidiaries (‘MSPL Group) in a phased manner. MSPL Group is headquartered in Bengaluru, India and is engaged in rendering end to end services for product design and development in the embedded space. The Company acquired control on MSPL effective December 01, 2017. The Company believed that Explosoft did not take steps that were required by Explosoft to diligently prosecute the application for merger before the NCLT Mumbai so as to bring it to completion and accordingly the claim for interest by Explosoft was not tenable.

The Company had initiated arbitration proceedings against shareholders of MSPL and the Arbitral Tribunal vide its interim order dated August 28, 2020 had directed to maintain the status quo with respect to shareholding in MSPL and had ordered shareholders of Mistral not to seek dismissal or rejection of abovementioned application for merger till further orders are issued by the Arbitral Tribunal. Additionally, both the parties were ordered to maintain status quo with respect to the existing constitution of the Board of Directors of MSPL. During the year, the Company received ‘interim final award dated 21st May, 2022 from Arbitral Tribunal in which the Tribunal passed concluding directions directing, both the Company and the Second Party (Explosoft Tech Solutions Pvt Ltd, the promoters of Mistral and Mistral Solutions Pvt Ltd) to specifically perform their respective obligations under the Definitive Agreements to ensure completion of acquisition of 100% of the shares of Mistral by AXISCADES Technologies Ltd, in accordance with specified timelines in the interim final award read with orders subsequently passed by the Arbitral Tribunal. Accordingly, the Company completed of the acquisition in accordance with the directions of the Arbitral Tribunal.

The Company acquired Mistral Solutions Private Limited with the acquisition of 100% shares of Explosoft Tech Solutions Private Limited on 22nd December 2022, which held 16,79,359 equity shares (41.28% of equity share capital) of Mistral. Accordingly, Explosoft became a wholly owned subsidiary of AXISCADES Technologies Limited.

The Arbitration Tribunal, vide its Final Award, dated January 13, 2023, terminated the Arbitration Proceedings recording that both parties submitted and declared that all disputes between them have been settled with the performance of/compliance with the declarations and directions in the Interim Final Award dated May 21, 2022.


In terms of the provisions of Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015, a detailed chapter on Management discussion and analysis highlighting the Companys strategy, business environment, operations, performance, risks and outlook is provided separately in this Annual Report.


The Company has the following subsidiaries:

Overseas Subsidiaries

Name of the subsidiary


%age Shareholding

1. AXISCADES Inc. Peoria, Illinois USA 100%
2. AXISCADES UK Ltd. Leicestershire, UK 100% shares held by AXISCADES Inc.
3. AXISCADES Technology Canada Inc. Montreal, Quebec, Canada 100%
4. Axis Mechanical Engineering Design (Wuxi) Co. Wuxi City, China 100%
5. AXISCADES GmbH Germany 100%
6. Mistral Solutions Inc. USA 100% shares held by Mistral Solutions
Pvt. Ltd.


Indian Subsidiaries

Name of the subsidiary


%age Shareholding

1. Cades Studec Technologies (India) Private Bengaluru, India 76%
Limited (CSTI)
2. AXISCADES Aerospace & Technologies Pvt. Ltd. Bengaluru, India 100%
3. AXISCADES Aerospace Infrastructure Pvt. Ltd. Bengaluru, India 100 % shares are held by ACAT
4. Enertec Controls Limited (ECL) Bengaluru, India 51.84 % shares are held by ACAT and
48.16% shares are held by AAIPL
5. Mistral Solutions Pvt. Ltd. Bengaluru, India 99.20%
6. Aero Electronics Pvt. Ltd. Bengaluru, India 100% shares held by Mistral Solutions
Pvt. Ltd.
7. Mistral Technologies Pvt. Ltd. New Delhi, India 100% shares held by Mistral Solutions
Pvt. Ltd.
8. Explosoft Tech Solutions Pvt. Ltd. Mumbai, India 100%

During the year, in view of changed circumstances and subsequent experience, the Joint Venture with ASSYSTEM AXISCADES Engineering Pvt. Ltd was not beneficial to either parties hence the Joint Venture Agreement was terminated on 12th July 2022 with mutual consent.

A report on the performance and financial position of each of the subsidiaries as per rule 8(1) of Companies (Accounts) Rules 2014 is furnished under the statement containing salient features of financial statements of subsidiaries in Form AOC-1 is attached to this Report as Annexure II, pursuant to Section 129(3) of Companies Act 2013.

In accordance with the provisions of Section 136 of the Companies Act, 2013, the audited financial statements of subsidiaries have been placed on the Companys website at www.axiscades.com. The copies of these documents will be sent if requested by any shareholder of the Company/ subsidiary interested in obtaining the same. These documents will also be made available for inspection at the Registered Office of the Company during business hours on working days.


Pursuant to the provisions of Section 129(3) of Companies Act 2013 read with Indian Accounting Standards (IND AS) 21, 23 and 27, the audited Consolidated Financial Statements are furnished in the Annual Report.



Induction and cessation of Directors and KMPs during the year:

Appointment /

Name of the Director/KMP



reappointment / Cessation

1 Mr. Abhishek Kumar Non-Executive, Non-Independent Cessation 03-06-2022
2 Mr. Desh Raj Dogra Non-Executive, Independent Re-appointment 27-09-2022
3 Mr. Dhiraj Mathur Non-Executive, Independent Re-appointment 27-09-2022
4 Mr. Sudhakar Gande Non-Executive, Non-Independent Cessation 05-01-2023
5 Mr. Venkatraman Venkitachalam Non-Executive, Non-Independent Appointment 06-01-2023
6 Ms. Mariam Mathew Non-Executive, Independent Re-appointment 12-02-2023


In our constant quest to be a customer focused, performance driven and future ready organization, the Company is committed to build an environment, where employees are inspired to deliver and achieve excellence. The Human Resource Policy of the Company is focused on attracting, building and retaining the best talent. Towards this, the Company continues to explore and implement best practices in Hire to Retire Cycle, the Companys particular focus is on training and development of its Employees, to develop their skills, grow in their career and be future ready. Needless to say, the Company is committed to provide a safe and healthy work environment to all its employees. The Company has 2,685 employees on a consolidated basis as of March 31, 2023.


The Company has ESOP Scheme - AXISCADES ESOP 2018- Series 1 and AXISCADES ESOP 2018- Series 2 which are in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and are effective from April 1, 2018. Further the pool of ESOPs was increased by 26,43,167 by way of variation in the terms of existing ESOP schemes series (clause 14.1 & 14.3), which became effective on receiving shareholders approval in the Annual General Meeting held on September 28, 2021. The applicable disclosures in compliance with Regulation 14 of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and Rule 12 of companies (Share Capital and Debentures) Rules, 2014 are set out and enclosed as Annexure III and the Report of Independent Auditor on AXISCADES ESOP 2018- SERIES 1 & 2 is enclosed as Annexure IV.


The information required pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of The Companies


(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided as Annexure V to this Report.

The statement of particulars of employees pursuant to Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 is attached as Annexure VI to this Report.


The report on Corporate Governance as required under Schedule V of the SEBI (LODR) Regulations 2015 is attached and forms part of the Annual Report. A Certificate from the Auditors of the Company as regards of compliance of conditions of corporate governance is also appended to the report.


The Board of Directors met 10 (ten) times during the financial year. The dates, attendance and other particulars of the meetings are furnished in the Report on Corporate Governance attached to this Report. The intervening gap between any two meetings was within the limit prescribed by the provisions of Companies Act, 2013.


The Audit Committee consists of 3 members namely, Mr. Desh Raj Dogra, Mr. Dhiraj Mathur, Independent Directors and Mr. David Bradley, Non-Executive Director. The Chairman of the Audit Committee is an Independent Director.

All the recommendations made by the Audit Committee during the year have been accepted by the Board. The Company has also constituted Nomination and Remuneration Committee and Stakeholders Relationship Committee. The Risk Management Committee was constituted on May 06, 2023 as required under the provisions of Companies Act, 2013 and also as required under Listing Regulations and the composition, scope of their functions, responsibilities etc. are given in the Corporate Governance Section, which forms part of this Report.


The Company has received declarations from all Independent Directors under Section 149(7) of the Companies Act, 2013 read together with Companies Amendment Act, 2017, to the effect that they meet the criteria of independence as laid down in section 149(6) of the Companies Act, 2013 read together with any amendment thereto and that their names have been included in the databank of Independent Directors and are compliant with the prescribed regulations. The terms and conditions of appointment of Independent Directors are placed on the website of the Company at www.axiscades.com.


The Board of Directors have carried out an annual evaluation of its own performance, Board Committees and individual directors pursuant to the provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The performance of the Board and its committees were evaluated by the Board / Committee after seeking inputs from all the directors/ members on the basis of the criteria and framework adopted by the Board. The evaluation process has been explained in the Corporate Governance Report section of the Annual Report.


The Vigil Mechanism of the Company which also incorporates the Whistle blower policy provides a formal mechanism to all Directors and employees to approach the Chairman of the Audit Committee and make protective disclosures about unethical behavior, actual or suspected fraud or violation of the Companys Code of Conduct or ethics policy. The Whistle Blower Policy is an extension of the Company Code of Conduct, which requires every employee to promptly report to the Management any actual or possible violation of the Code or an event he is aware of, that could affect the business or reputation of the Company. The disclosures reported are addressed in the manner and within the time frames prescribed in the Policy. No personnel of the Company were denied access to the Chairman of the Audit Committee. The Whistle blower policy which also describes the mechanism may be accessed on the Companys website at www.axiscades.com.


The Companys policy on Directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and the policy on remuneration of directors, key managerial personnel and other employees formulated pursuant to Section 134(3)(e) and 178(3) of the Companies Act, 2013 are furnished in Annexure VII.


The Company has formulated and implemented a Risk Management Policy which focuses on identification of various elements of risks, if any, which in the opinion of the Board, may threaten the existence of the Company.

The Company has a risk identification and management framework appropriate to its size and the environment under which it operates. The risk management process involves identification and periodic assessment of potential risks and their impact on the operations, profitability, growth and continuity of the business and focuses on risk elements pertaining to competitive position in the key market segments, business environment, statutory and regulatory changes, global economy and business scenario, Currency exchange rate fluctuations, resource constraints etc. and initiating timely preventive as well as remedial actions. Reporting and control mechanisms ensure timely information availability and facilitates proactive risk management. These mechanisms are designed to cascade down to the level of line managers so that risk at the transaction level is identified and steps are taken towards mitigation in a decentralized fashion. Risks are being continuously monitored in relation to business strategy, operations and transactions, statutory/legal compliance, financial reporting, information technology system etc. based on the inputs from both external and internal sources like key incidents, Internal audit findings etc. The Risk Management Committee is responsible for monitoring risk levels on various parameters and the senior management group ensures implementation of mitigation measures, if required. The Audit Committee has additional oversight in the area of financial risks and controls.


In order to prevent sexual harassment of women at work place your Company has adopted a Policy for prevention of Sexual Harassment of Women at Workplace and has proper mechanism to control the same, which is commensurate with the nature and size of the business of the Company. During the financial year 2022-23, no complaints have been received. The Company has an Internal Complaints Committee in compliance with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.


Pursuant to Section 134(5) read with Section 134(3)(c) of the Companies Act, 2013, your Directors confirm that: a. in the preparation of the annual accounts the applicable accounting standards have been followed along with proper explanation relating to material departures; if any b. they have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period; c. they have taken proper and sufficient care for the maintenanceofadequateaccountingrecordsinaccordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d. they have prepared the annual accounts on a going concern basis; e. they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and f. they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.



M/s S.R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration No. 101049W/E300004), were re-appointed as Auditors of the Company by the shareholders at the 32nd Annual General Meeting (AGM) held on September 27, 2022 to hold office til the conclusion of the 37th AGM of the Company. Hence, they will continue to be the Statutory Auditors of the Company. The Auditors Report does not contain any qualification, reservations or adverse remarks. The Auditors Report is enclosed with the financial statements in this Annual Report.


Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s Anant B. Khamankar & Co., Company Secretaries, to undertake Secretarial Audit of the Company for the financial year 2022-23. The Secretarial Audit Report of the Company and its material subsidiaries for the FY23 are attached as Annexure VIII which forms part of this report. Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

Details in respect of frauds reported by Auditors other than those which are reportable to the Central Government

The Statutory Auditors and the Secretarial Auditors of the Company have not reported any frauds to the Audit Committee or to the Board of Directors under section 143(12) of the Companies Act, 2013, including rules made thereunder.


The Company dissolved its Corporate Social Responsibility Committee in its Board Meeting held on June 11, 2021 pursuant to the amendment in CSR Rules and Section 135 of the Companies Act, 2013. The policy has been posted and is accessible on the Companys website at www.axiscades.com. The salient features of which are as under:

CSR activities are based on three broad indicators of development namely Human Capital, Social Capital, Economic Capital

We recognize the need to work in partnership with other players as well.

The Board is responsible to formulate and recommending changes to the policy indicating the activities to be undertaken including Monitoring and reviewing CSR activities

Transparent Monitoring

The annual report on CSR activities is furnished in Annexure IX to this Report.


In pursuance of Regulation 34 of the SEBI Listing Regulations, the Business Responsibility and Sustainability Report describing the initiatives taken by the Company from an environmental, social and governance perspective is enclosed as Annexure X to this report.


There are no significant and material orders passed by the regulators or courts which would impact the going concern status of the Company and its future operations.


The Annual Return of your Company as on March 31, 2023, prepared pursuant to Section 92 of the Companies Act 2013 and the Rules made thereunder, in Form MGT-7 is available on the website of the Company at https://www.axiscades.com/ investors_data/annual_report/ACTL-Annual_ReturnFY2022-23. pdf


Your Company has adopted the policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.


The particulars pursuant to Rule 8(3) of Companies (Accounts) Rules 2014, are given below:

Conservation of Energy

Being an Information Technology Company, the Companys operations are not energy intensive. However, adequate measures have been taken to conserve energy by introducing improved operational methods. The Company in its initiative to be ISO14001 – Environmental Management System compliant, is adhering to the provisions of E-Waste (Management and Handling) Rules 2011 and Batteries (Management and Handling) Rules 2011, by efficiently managing the AC installations, replacing PCs by VPC and recycling of paper etc.

Foreign Exchange Earnings and Outgo (Standalone)


FY 2022-23 FY 2021-22
Foreign Exchange Earnings (actual inflows) 22,741.03 14,449.07
Foreign Exchange Outgo (actual outflows) 4,271.10 5,698.35

Technology Absorption

The Company does not have any imported technology. Since the requirements of the technology business are changing constantly, your Company has sought to focus on critical in-house technologies and processes, which are likely to create value in the foreseeable future.


During the year, the Company has not made any application under the Insolvency and Bankruptcy Code, 2016 during the FY 2023.


Certain statements made in this section or elsewhere in this report may be futuristic in nature. Such statements represent the intentions of the Management and the efforts being put in by them to realize certain goals. The success in realizing these goals depends on various factors both internal and external. Therefore, the investors are requested to make their own judgment by taking into account all relevant factors before making any investment decision.


With reference to the MCA circular dated December 28, 2022 read with and SEBI circular dated January 05, 2023, this year the Company is dispensed with the printing and dispatch of Annual Reports to the Shareholders. Electronic copies of the Annual Report are sent to all the members whose email address are so registered.


Your Directors deeply appreciate and acknowledge the co-operation and support extended by Clients, Vendors, Investors and Bankers, various government agencies & regulatory bodies across the globe, the Software Technology Park, Noida, Hyderabad & Bengaluru and other industry forums and agencies like NASSCOM and look forward to their continued support in the future. Your Directors wish to place on record their appreciation of the valuable contribution made by the employees of the Company at all levels.

For and on behalf of the Board of Directors
Sd/- Sd/-
Arun Krishnamurthi David Bradley
Place: Bengaluru Chief Executive Officer and Managing Director Chairman and Non-Executive Director
Date: May 25, 2023 DIN: 09408190 DIN: 08380717

Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

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.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
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

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.