Premier Capital Services Ltd Management Discussions.


The global economy is recovering following an unprecedented economic downturn caused by the COVID-19 pandemic in 2020. Aggressive and swift monetary, fiscal, and financial sector policies taken by various central banks and governments across the globe have helped prevent worse outcomes. The global economic growth is thus estimated to contract by 3.3% in 2020. As per International Monetary Fund (IMF), the global economy is projected to grow by 6.0% in 2021 and 4.4% in 2022.

The Indian economy saw the worst ever contraction of 23.9% YoY in the first quarter of FY 2021, with agriculture being the only high performing sector, driven by a normal monsoon, record-high production, and strong policy support. Although Indias economy is showing decisive signs of a V-shaped recovery in FY 2022 with the return of consumer confidence, improvement in business conditions across the manufacturing sector, robust financial markets, strengthening demand, and improved market conditions. As per Economic Survey 2020-21, the Indian economy is likely to rebound with 11% growth in FY 2022 the highest since Independence.


Your company has not commenced its business operations during financial year 2020-21, so segment reporting is not applicable to it.


Multiple vaccine approvals and the launch of vaccination in some countries since December 2020 have raised hopes of an eventual end to the pandemic and have boosted investor sentiments worldwide. Emerging market and developing economies are expected to track diverging recovery paths as it would largely hinge on the speed of vaccination, effectiveness of policy support and country-specific structural factors. Organization for Economic Co-operation and Development (OECD), in its interim economic assessment, stated that economic activities in China, India and Turkey have moved above pre-pandemic levels led by strong fiscal and quasi-fiscal measures and a recovery in manufacturing and construction. However, renewed waves and new variants of the virus pose concerns to the outlook.


The outlook in the year ended 31st March, 2021 was mixed for the Capital Market. Keeping in view of the growth in the economy and investment made by the FIIs sensex is scaling new heights and as results all concerned will be benefited. However capital market is dependent on various external factors beyond the control of the management.


The volatility in Stock Market, economic situation of the country, market risk and client default risk are high in this business. Your company proposes to manage these risks by adopting effective risk management practices.


The Company has adequate internal control and Procedures systems commensurate with the nature of its business and the size of its operations. Continuous efforts are being made to see that the controls are designed to provide a reasonable assurance with regard to maintenance of accounting controls and assets from unauthorized use or losses. All significant audit observations and follow-up actions thereon are reported to the Audit Committee. The Audit Committee comprises of three independent directors. The audit committee looks into all aspects of internal functioning and advises corrective action as and when required.


The financial performance of the company has been covered in the Directors Report.


The Company recognizes that its success is deeply embedded in the success of the human resources. The Company has significantly scaled up its activities through investment in people and infrastructure. The Company nurtures its employees as its critical assets through healthy working atmosphere that ensures equal opportunity for growth and challenge to all the employees. The Company believes in creating business leaders by employing best talent in the industry, providing opportunities, empowerment by delegations, training and taking care of their growth. As our business grows, we would continue to expand the human resources which are fundamental to the financial services business.

As required under Regulation 17(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the financial year 2020-2021.

a) We have reviewed financial statements and the Cash Flow Statement for the year and that to the best of our knowledge and belief:

i) These statements do not contain any materially untrue statement or omit any material fact or contain statement that might be misleading;

ii) These statements together present a true and fair view of the companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.

b) To the best of our knowledge and belief, no transactions entered into by the company during the year which are fraudulent, illegal or violate of the Companys code of conduct.

c) We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and we have disclosed to the Auditors and the Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which they are aware and the steps we have taken or propose to take to rectify these deficiencies.

d) We have indicated to the Auditors and the Audit Committee:

i) Significant changes in the internal control over financial reporting during the year;

ii) Significant changes in accounting policies during the year and that the same has been disclosed in the notes to the financial statements; and

iii) There are no instances of significant fraud either by the management or an employee having a significant role in the Companys internal control system of financial reporting.

Date: 30.08.2021 Sd/- Sd/-
Place: Indore Deepti Dubey Rajendra Kumar Mungar
Chief Executive Officer Chief Financial Officer


4, Bhima Vaitarna Complex,

Sir Pochkhanwala Road,

Worli, Mumbai, (MH) 400 030

CIN: L65920MH1983PLC030629