Glance Finance Ltd Management Discussions.

The Companys main object is Non-banking Finance activities consisting mainly of investments and giving loans. 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. There have been a number of causes behind growth of Indian economy in last couple of years. A number of market reforms have been instituted by Indian government and there has been significant amount of Foreign Direct Investment made in India. Much of this amount has been invested into several businesses including knowledge process outsourcing industries. Indias foreign exchange reserves have gone up in last few years. All of these could help propel the country into high growth.


The company has allocated its total resources into Debt and debt related instruments and Equity and equity related instruments. We are examining other products also like Real Estate bonds, structured products, etc. that could deliver good returns to the shareholders while balancing the risks associated with the investment.

We expect Debt to provide very safe but fixed returns while equities could give the income boost, although with a higher element of risk.


Your Company is mainly engaged in the business of Finance and Investment in Capital Market. Business opportunities for Finance Companies are enormous as the new areas and segments are being explored.

The major threat being faced by Finance Companies are regulatory changes in NBFCs, Interest Rate hikes by RBI, high Inflation, and volatility in global equity and commodity market.


Your companys performance to a large extent depends upon scenario of the capital markets, finance scenario, RBI policies, industry performance and the general economic outlook of the country. The volatility in the stock Market, rate of interest and GDP would affect the profitability of the Company.


Your Company is engaged in Investments and some financial services including consultancy and advisory services as well as trading of securities, commodities and Loan given etc. During the year under review the Company earned a profit before tax of 50.05 Lacs as against Rs. 62.52 Lacs in the F.Y 2017-18. The Profit after tax was Rs. 49.23 Lacs as against Rs. 32.59 Lacs in the F.Y 2017-18.


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


The focus for the forthcoming financial year for the Company will be continued delivery in progressing mode and grabbing the opportunities and trying to overcome challenges.

The outlook on the Indian economy looks promising this year and GDP growth expected on the back of high liquidity flowing into the Indian markets. We expect good growth in the Indian Equities over the next 2-3 years.


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.

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.


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.

By order of the Board of Directors,
Narendra Karnavat
Place: Mumbai. Chairman
Date: 19th August, 2019 (DIN:00027130)