Libord Securitie Management Discussions


Libord Securities Limited ("the Company") is a public limited Company domiciled and incorporated in India and its shares are listed on the Bombay Stock Exchange (BSE), in India. The registered office of the Company is situated at 104, M.K. Bhavan, 300, Shahid Bhagat Singh Road, Fort Mumbai- 400001. The Company is engaged in the business of Financial Services.

OPPORTUNITIES AND THREATS

According to the International Monetary Fund (IMF), the outlook continues to be uncertain in view of the financial sector turmoil, high inflation, ongoing effects of Russias invasion of Ukraine, and three years of COVID which have now become sort of perennial issues with little hope about their settling down to the normal levels in any conceivable short term.

The IMF has forecasted the growth rate to fall from 3.4 percent in 2022 to 2.8 percent in 2023. The growth rate for advanced economies is expected to take a steeper dive from 2.7 percent in 2022 to 1.3 percent in the year 2023. Taking a more plausible view, the IMF projects that if the financial sector stress intensifies further, the global growth rate may even fall to about 2.5 percent with advanced economy growth falling below 1 percent in the year 2023.

SEGMENT WISE OR PRODUCT-WISE PERFORMANCE

The Company operates in single business segment and the Company is engaged in the business of Financial Services. As the Company is only in one line of business, product wise disclosure of performance is not required to be made.

OUTLOOK

The Company is fairly optimistic in its outlook for the year 2023-24. The economy is expected to achieve a steady rate of growth and the Company aims at maximizing the shareholders wealth amidst more favourable business conditions emerging therein. A detailed analysis of the outlook is given in Clause number 3 of the Directors Report.

RISKS AND AREAS OF CONCERN

The Company is providing financial, corporate and management consultancy and undertakes wide spectrum of activities and therefore has a well-diversified portfolio of services provided. The Company has undertaken suitable measures for the development and implementation of a risk management policy including identification of elements of risk, if any, which in the opinion of the Board may threaten the existence of the Company. At present the Company has not identified any element of risk which may threaten the existence of the Company.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size and nature of its operations. During the year, controls were tested and no material weakness in design and operation were observed. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorised use, executing transactions with proper authorisation and ensuring compliance of corporate policies.

DISSCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

The details of the financial performance with respect to operational performance for the Financial Year 2022-23 are discussed in the Directors report and notes to the Financial Statements forming part of this Annual Report.

HUMAN RESOURCE DEVELOPMENT

The Company regards its human resources as amongst its most valuable assets and proactively reviews policies and processes by creating a work environment that encourages initiative, provides challenges and opportunities and recognizes the performance and potential of its employees attracting and retaining the best manpower available by providing high degree of motivation. Your Company believes in trust, transparency & teamwork to improve employees productivity at all levels.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS

The details of significant changes in the applicable key financial ratios are given in the Notes to the Financial statements.

DISCLOSURE OF ACCOUNTING TREATMENT

The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time). The details of accounting treatment are given in Significant Accounting policies at Note no. 1 to 3 of the Financial Statements.

Registered office:

By the Order of the Board

104- M. K. Bhavan
300, Shahid Bhagat Singh Road,
Fort, Mumbai 400001 Mr. Lalit Kumar Dangi Mr. Ramesh Kumar Jain
Place: Mumbai Director Director and CFO
Date : August 3, 2023 DIN: 00886521 DIN: 01682905