Stellant Securities (India) Ltd Management Discussions

Industry Structure and Development:

FY 2024 25 witnessed significant developments in the Indian financial and investment sector. Continued interest rate normalization, strong equity market performance, and sustained FII inflows led to robust capital market activity. SEBIs regulatory tightening around disclosures and valuation norms for investment companies improved investor confidence and governance standards.

The growing retail participation in capital markets, expansion of alternate investment funds (AIFs), and increased penetration of fintech platforms further diversified the investment landscape. However, global macroeconomic uncertainties and volatility in global debt markets remained key challenges.

Opportunities and Threats:

The opportunities still continue to lie in rendering value added services ancillary to stock broking. Your company is scouting for such opportunities.

Some of the threats to which the Company is exposed to include Regulatory Changes, Execution risk, competition from local and multinational players, Inflationary pressure, slowdown in policy making and reduction in household saving in financial products, Increasing competition from local and global players etc.

Internal Control Systems and their adequacy:

The Company is focused on its internal control systems and their adequacy by ensuring timely compliances of all statutory requirements as well as taking a strict view on client positions.

Outlook:

With anticipated moderation in inflation and stable interest rates, FY 2025 26 is expected to offer sustained investment opportunities in both public and private markets. The Company aims to strengthen its research capabilities, diversify its investment portfolio, and enhance its risk-adjusted return profile.

Risk and Concerns:

The Company has laid down several measures for risk management to ensure timely collection of margins and their replenishment from time to time. Market volatility plays a major role in the variation in margins.

There are no material developments in Human Resources / industrial relations front.

Discussion on financial performance with respect to operational performance

The financial performance of the Company for the financial year 2024-25 is described in the Directors Report under the head "Financial Result".