Hind Securities & Credit Ltd Management Discussions

This Management Discussion and Analysis Report has to be read in conjunction with the Companys financial statements, which follows this section. The financial statements have been prepared in compliance with the requirements of the Companies Act, 2013 and the directions issued by Reserve Bank of India for Non-Banking Financial Companies from time to time, wherever applicable.

a) STRUCTURE AND DEVELOPMENT:

The finance sector continues to be characterized by high volatility. The recent governmental policies have strived to lend stability and provided the much needed fillip to the industry. The banking, as well as the non-banking entities, showed remarkable progress during the year under report.

b) OUTLOOK, RISK AND CONCERN:

Management of risks to the business is a continuous challenge for any organization growing in size and enhancing its purpose. The traditional risk factors like client risks, industry segment risks and economic risks are well understood and the means to handle them are also fairly established.

To counter all these risks, your Company has been duly conducting its risk identification, assessment and management activities. This helps Company to expressly anticipate the impact of potential and economical risk factors to the business and provide guidance on how to handle them so as to minimize their business impact.

Adequate management control is in place to ensure quick action on early warnings and to proactively monitor and mitigate all potential risks. A comprehensive risk management strategy act as a framework for all de-risking and risk mitigation activities undertaken by your company with the fullest involvement of top management professionals.

c) OPPORTUNITIES & THREATS:

As observed during the last few years, the traditionally debt-averse Indian Consumer has been gradually becoming more and more credit happy and has an aspiration to enhance the quality of his life. Considering this, there is tremendous potential in retail financing in the years to come. The positive attitude of the Indian consumers will result in the growth of the business of the Company in future.

However tough competition, strict regulations by regulatory authorities, non-recovery of dues due to lack of favourable recovery mechanism and uncertain market conditions continues to be threats for the business of the Company.

d) INTERNAL CONTROL SYSTEM & THEIR ADEQUACY:

The Company has adequate internal control systems to ensure operational efficiency, protection and conservation of resources, accuracy and promptness in financial reporting and compliance of laws and regulations. The Company regularly monitors that all regulatory guidelines are complied with at all levels.

The Audit Committee constituted by the Board reviews the adequacy of the internal control system.

e) FINANCIAL AND OPERATIONAL PERFORMANCE:

The financial statements are prepared in compliance with the requirements of the Companies Act and the Accounting Standards prescribed by the Institute of Chartered Accountants of India and Generally Accepted Accounting Principles in India.

The details of the financial performance of the Company are reflected in the Balance Sheet, Statement of Profit & Loss and other Financial Statements, appearing separately. Highlights are provided below:

Particulars	Year ended 31st Mar 2019	Year ended 31st Mar 2018
Total Income	31,8,40,812	2,80,62,903
Profit before Tax	7,61,956	14,30,833

The financial performance of the Company has been further explained in the Directors Report of the Company for the Financial Year 2018-19 appearing separately.

f) HUMAN RESOURCE DEVELOPMENT AND INDUSTRIAL RELATIONS:

Management is keen on following the best practices for attracting, retaining and enhancing human resources of the Company. Internal transfer, job rotation and training have been inculcated at different levels of the organization hierarchy to evolve team leaders and managers. The above-mentioned measures will ensure a motivated workforce, promote the ownership and sharing economic growth of the Company.

g) CAUTIONARY STATEMENT:

The Company has made forward-looking statements in this document that are subject to risks and uncertainties. Forward-looking statements may be identified by their use of words like experts‘, believes‘, estimates or similar expressions. All statements that address expectations or projections about the future, including, but not limited to, statements about Companys strategy for growth, product development, market position, market expenditures, and financial results are forward-looking statements.

For those statements, the Company cautions that numerous important factors could affect the Companys actual results and could cause its results to differ materially from those expressed in any such forward-looking statements.

		By Order of the Board of Directors
		For Hind Securities & Credits Limited
Date: 12th August 2019	Jagdish Rai Bansal	Shyam Lal Bansal
Place: Delhi	Managing Director	Director
	DIN: 00673384	DIN: 01071068
	R/o: 34-C, Anubhav Apartment,	R/o: 252, Second Floor,
Sector-13, Rohini, New Delhi 110085		Bhera Enclave, Paschim Vihar,
		New Del i - 110087
Registered Office:
D 16, Ground Floor, Udyog Nagar, Nangloi, Delhi 110041