Lakshmi Finance & Industrial Corporation Ltd Management Discussions

REVIEW OF ECONOMY:

Indian economy remained resilient with robust 7.6% growth rate of GDP in F.Y 2023-24 over and above 7% growth rate in F.Y 2022-23. Double digit growth rate of Construction sector (10.7%) followed by a good growth rate of Manufacturing sector (8.50%) have boosted the GDP growth in F.Y 2023-24. India is now the fifth largest economy in the world GDP rankings list due to its strong economic foundations, thriving domestic demand, careful financial management, high saving rates and favourable demographic trends. The country’s major economic contributors are traditional and modern agriculture, technology services, handicraft industry and business outsourcing. Amidst a challenging global scenario, India has emerged as a significant economic and geopolitical power. Its actions in the coming years could lay the groundwork for the country to become the world’s third largest economy in the coming next five years.

The overall performance of the Company is quite encouraging comparing with previous year performance because of favourable Stock Market conditions and portfolio investments valuation during the Financial Year 2023-24. The Company will continue to focus its efforts to closely monitor portfolio Investment activity to generate optimum returns by way ofcapital appreciation and periodic dividend returns.

INVESTMENTS:

Total Investments as on March 31, 2024 is Rs 4,570.69 lakhs excluding Rs 250 lakhs of Fixed Deposits, Rs 400 lakhs of Government Bonds and Rs 100 lakhs of NCDs as against Rs 4,026.47 lakhs of Investments and Rs 250 lakhs of Fixed Deposits and Rs 250 lakhs in Government Bonds and Rs 50 lakhs of NCDs as at March 31,2023.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The CEO and CFO certification provided in the certification section of the Annual Report discusses the adequacy of our Internal Control systems and procedures.

KEY FINANCIAL INDICATORS: LAST THREE YEARS: ( Rs in Lakhs)