Latent Light Finance Ltd Management Discussions.

ECONOMIC OUTLOOK:

The long-term fundamentals of the Indian economy continue to be strong due to rising incomes and large investments. These growth drivers are expected to sustain over a long period of time. At the same time, there are some concerns due to uncertain global economic environment and slow recovery in developed markets.

COMPANY OVERVIEW:

The company is engaged in the business of financial services and investment activities where the outlook of the business seems to be encouraging over and above we have been diversified into different businesses.

FINANCIAL PERFORMANCE:

The Company has achieved a turnover of Rs. 1,59,47,088/- (Rupees One Crore Fifity Nine Lakhs Forty seven Thousand and Eighty Eight only) during the year with net profitability of Rs. 68,91,212 (Sixrt Eight Lakh Ninety one thousand Two hundred and Twelve Only). The companys income from operations primarily includes income from trading and distributions of financial products such as Interest income from Inter-Corporate Loan and Long Term Investments.

OPPORTUNITIES & THREATS:

Opportunities

Increase in Income levels will aid greater penetration of financial products.

Positive regulatory reforms.

Increase in corporate growth & risk appetite.

Greater efficiency in debt market operations which will also help greater penetration.

Increased securitization.

Focus on selling new product/services.

Threats

Inflation could trigger increase in consumer price inflation, which would dampen Growth.

Increased competition in both local & overseas markets.

Unfavorable economic development.

Market risk arising from changes in the value of financial instruments as a result of changes in market variables like interest rate and exchange rates.

FUTURE OUTLOOK:

The future outlook of the Company is very prospective and it urges to diversify the various areas related to financial markets. Besides continuing aggressively in the existing growth areas, there are certain specifics initiatives that we would like to highlight which the company would be undertaking in the financial year 2018-19. The Company is effectively putting together a growth strategy in the area of Debt Syndication, Private Placement, Corporate/Personal Loan, Advisory Services, Arranger and Distributions of Mutual Fund & Liaison for Financial Products.

RISK MANAGEMENT:

The company operates in the Financial Services Sector, which is affected by variety factors linked to economic development in India and globally which, in turn, also affected global fund flows. Any economic event across the globe can have direct or indirect impact on your company. To mitigate this, Company has diversified its revenue stream across multiple verticals. Your Companys risk management system is a comprehensive and integrated framework comprising structured reporting and stringent controls. Through its approach it strives to identify opportunities that enhance organizational values while managing or mitigating risks that can adversely impact the companys future performance. Within the organization, every decision taken is after weighing the pros and cons of such a decision making taking note of the risk attributable.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has established internal control systems which is adequate commensurate with its size and nature of operations so as to ensure smoothness of operations and compliance with applicable legislation. A report on internal control system is obtained from Mr. Anand Singh & Co., Internal Auditor of the Company.

HUMAN RESOURCE:

The Company keeps developing its organizational structure consistently over time. Efforts are made to follow excellent Human Resource practices. Adequate efforts of the staff and management personnel are directed on imparting continuous training to improve the management practices. The objective of your Company is to create a workplace where every person can achieve his or her full potential. The employees are encouraged to put in their best. Lot of hard work is put in to ensure that new and innovative ideas are given due consideration to achieve the short and long term objectives of your company.

SOCIAL RESPONSIBILITY:

Latent Light Finance Limited being a socially responsible corporation continues to contribute towards the economic, social and environmental well-being of the society at large. The Company has integrated the Corporate Social Responsibility objectives with business objectives by way of conducting the business activities in the most ethical, transparent and accountable manner. Corporate Social Responsibility has always been an integral part of the vision of the Company and has been the foundation of the core value of good corporate citizenship.

CAUTIONARY STATEMENT:

Statements in the Management Discussion and Analysis describing the Companys objectives, expectations, predictions and assumptions may be "FORWARD LOOKING" within the meaning of applicable Laws and Regulations. Actual results may differ materially from those expressed herein, important factors that could influence the Companys operations include domestic economic Conditions affecting demand, supply, price conditions, and change in Governments regulations, tax regimes, other statutes and other factors such as industrial relations.

MATERIAL DEVELOPMENT IN HUMAN RESOURCES / INDUSTRIAL RELATION FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED:

The employees are satisfied and having good relationship with the Management.

DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL WITH THE COMPANYS CODE OF CONDUCT

This is to confirm that the Company has adopted a Code of conduct for its employees including the director. I confirm that the Company has in respect of the financial Year ended 31st March, 2019, received from the Senior Management team of the Company and the members of the Board, a declaration of Compliance with the code of Conduct as applicable to them.

The policy is displayed on website of the company i.e. www.galaxycommerciallimited.com

By Order of the Board of Directors Latent Light Finance Limited (Formerly Known as Galaxy Commercial Limited)

Sd/- Sd/-
Place: New Delhi Deepak Nagar Dharmender Singhal
Date: 14TH August, 2019 Director Director
DIN: 00043654 DIN: 03257550