Glance Finance Ltd Management Discussions

The Companys main object is Non-banking Finance activities consisting mainly of investments and giving loans. During the year the company has increased Asset Leasing Activities. This activity offers high and stable returns with consistant cash flow. The market for this activity offers high potential for growth in view of the growth expected in the Indian economy over the next few years.

BUSINESS SCENARIO

The company has allocated its resources into business of Asset Leasing and Investment in Equity and equity related instruments.The Company has filed an application with Reserve Bank of India for seeking temporary suspension of NBFC License.

During the year under review, the company has undertaken following business activities:

1. Asset Leasing

2. Investment in Private and Public Market.

3. Revenue Based Funding

4. Warehousing Services

The Company has closed its Ecommerce activities (Warehousing Services) during the first quarter of Financial Year 2023-24.

Opportunities and Threats:

Your Company is mainly engaged in the business of Asset Leasing (Car, Vending Machine, etc.). There is huge untapped market for such businesses in India. Your company is also exploring new areas like quick service restaurant, music label rights, etc.

The major threat being faced by Company is the crowding of this space by new entrants.

Risk and Concerns:

The major risk and concerns for the Company is higher cost of borrowing, softening of demand due to consistent high Inflation and volatility in stock Market.

Financial Performance :

During the year under review, your Company has loss after tax of Rs. (29.39) lacs as against profit after tax of Rs. 210.29 lacs during the previous year. The main reason for the loss is Mark to Market valuations of stock in trade to the extent of Rs. 140.26 lacs. The Company expects the situation to further improve in the year 2023-24.

Segment wise or product-wise performance:

The company is engaged in the busines of Asset Leasing and Investment in Capital Market and there was no production activity carried out during the financial year.

Outlook:

There will be consistent cash flows from the Assets leased. Now opportunities are being explored by the management. Further, due to buoyant economic scenario of the country, your management expects better performance from the market investments.

Internal Control systems and their Adequacy

M/s. P. C. Deora & Co. Chartered Accountants, Mumbai is re-appointed as the Internal Auditors of the company for the Financial Year 2022-23.

Based on the report of Internal Audit function, corrective action are undertaken in the respective areas and thereby strengthen the controls. Internal Control and Audit is an important procedure and the Audit Committee of your Company reviews all the control measures on a periodic basis and recommends improvements, wherever appropriate. The internal control is designed to ensure that the financial and other records are reliable for preparing financial statements and other data and for maintaining accountability of assets. Your Company has put in place an adequate Internal Control System to safeguard all assets and ensure operational excellence. The system also meticulously records all transaction details and ensures regulatory compliance. The reports are reviewed by the Audit Committee of the Board. Wherever deemed necessary, internal control system are strengthened and corrective actions initiated.

During the year under review, no material or serious observation has been received from the Internal Auditors of the Company for inefficiency or inadequacy of such controls.

Material development in Human Resources/ Industrial Relations front, including number of people employed:

The Company was able to retain the talents despite of the hefty attrition rates in its peer companies. The Company continued to maintain cordial relations with its employees.

Disclosure to the Board:

Senior Management shall make the disclosure to the Board relating to all material financial and commercial transactions, and where they have personal interest, that may have potential conflict with the interest of the Company at large.

Also your Company is paying rent for the premises it is using for the office purpose to another group concern in which Director is interested. The dealings are at arms length and at prevailing market rates.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS ALONG WITH DETAILED EXPLANATIONS THEREFOR

Details of significant changes (25% or more as compared to the immediately previous Financial Year) in key financial ratios in 2022-23

Particulars Variation (%) Increase/ (Decrease) over previous Financial Year Debtors Turnover Ratio Not applicable since the company is not havingany sales Inventory Turnover Ratio Not applicable since the company is notengaged in any manufacturing or tradingactivities Interest Coverage Ratio The Interest Coverage Ratio for the year was 0.68 as compared to 5.33 in the immediate previous financial year.

There is substantial change in this ratio of 87.24% due to Increase in Borrowing and Depreciation Expenses.

Current Ratio The Current Ratio for the year was 1.01 as compared to 1.43 in the immediate previous financial year.

There is substantial change in this ratio of45.51% due to Reduction in net cash flow for the year.

Debt Equity Ratio The Debt Equity Ratio for the year was 0.51 as compared to 0.36 in the immediate previous financial year.

There is substantial change in this ratio of 41.66% due to Increase in borrowing during the year.

Operating Profit Margin (%) Not applicable since the company is not havingany sales

Net Profit Margin (%) The Net Profit Margin for the year was -3.58% as compared to 26.76% in the immediate previous financial year.

There was substantial change in this ratio as compared to previous year due to mark to market loss on stock in trade and Depreciation Expenses

DETAILS OF CHANGES IN RETURN ON NET WORTH AS COMPARED TO THE IMMEDIATELY PREVIOUS FINANCIAL YEAR ALONG WITH A DETAILED EXPLANATION THEREOF

The Return on Net Worth for the year was -1.35% as compared to 9.70% in the immediate previous financial year.

There was substantial change in this ratio as compared to previous year due to Increase in Borrowing Cost and Depreciation Expenses.

CAUTIONARY STATEMENT

Statements in the Management Discussion and Analysis may be "forward looking statements" and have been issued as required by applicable Securities Laws and Regulations. There are several factors which would be beyond the control of Management and as such, may affect the actual results which could be different from that envisaged

By order of the Board of Directors,
For Glance Finance Limited
Narendra Karnavat	Narendra Arora
Director	Wholetime Director
(DIN: 00027130)	(DIN: 03586182)
Place: Mumbai.
Date: 08-08-2023