Sunbright Stock Broking Ltd Management Discussions.

The Company is in the business of Trading in shares and Finance Activity. The key issues of the Management Discussion and Analysis are given below.

(a) Industry structure and developments

Indian Finance market size is estimated at Rs. 350 Trillion. Approximately one third of this demand is met through Share Market and the balance is met through Financers and lenders. The Industry is mainly dependent on the Investors sentiments. It is now prevailing good and getting healthy.

The fortunes of the Finance industry are, to a large extent, linked to the growth of the Industry and Investment sentiments of the people. The Industry is facing intense competition from the foreign financial Institution.

(b) Strength

The strength of a company is known from the profit it earns and sound advances. It also depends on the Government policies of taxation. Introduction of Securities Transaction Tax and thereby exempting Long term Capital gain has given a big boost to the market.

(c) Comment on Current years performance

Receipts : The Receipt has been phenomenal for the first year of its operations.
Operating Expenses : The operating Expenses are well under control.
Operating Profits : The Operating Profits are up to industry mark.
Indirect Expenses : The Indirect Expenses are under control.
Depreciation : Reasonable amount of Depreciation is provided.
Profit before tax : Profit before tax is also an improving trend.
Taxation : Taxation is Provided as per Income Tax Act.
Debtor/Sales : Debtors are reasonable.
Creditors/Purchase : The Company has an established credit.

d) Opportunities and threats

The impact of boom in capital market and real estate market due to government support has provided a boost to the economy and it is set to grow at 11% to 12% supported by a smart growth in manufacturing and services sectors. This brings prosperity to a country and more and more people go for investment in Share market. Outlook for the year 2018 is positive. While the overall demand outlook for the year 2018 remains good, the Company expects the pressure on quality customers to continue due to competition.

(e) Segment wise performance

The business of the Company falls under a single segment i.e. Trading & Financing for the purpose of Accounting Standard AS-17.

(f) Outlook

The continual growth in the Finance sector is expected to give the necessary support to the Finance industry. The Company is making all efforts to accelerate growth of its business. It expects to improve its position in the market by focusing on technologically advanced and more profitable products/market segments and working aggressively in the areas of productivity, efficiency and cost reductions.

(g) Risk and concerns

The menace of local Finances and play of angadia has further compounded the problems of the organised Finance Industry as they use inferior way of transferring funds. The Stock market is also a risky place to put ones fund. The pull back of FIIs will also have an adverse effect on the share market.

(h) Internal control system

Internal audit and other controls have been found to be adequate. These are reviewed periodically by the Audit Committee and found the performance satisfactory.

(i) Developments in human resources and industrial relations

Information as per Section 217 (2A) of the Companies Act, 1956 read with the Companies (Particular of Employees) Rules, 1975 is not required to be given as no employee falls under it. The Company continued to have cordial relations with all the employees.

BY ORDER OF THE BOARD OF DIRECTORS
FOR SunBright Stock Broking Ltd..
PLACE: KOLKATA Sd/-
DATE : 01-09-2018 VIMAL RAVAL
(CHAIRMAN)

AUDITORS CERTIFICATE ON COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE UNDER CLAUSE 49 OF THE LODR,2015

To,

The Members,

SunBright Stock Broking Ltd..

Kolkata

I have examined the compliance of conditions of corporate governance by Sunbright Stock Broking Ltd.. for the year ended on 31st March, 2018 as stipulated in LODR,2015 of the said Company with Stock Exchanges.

The compliance of Corporate Governance is the responsibility of the management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statement of the Company.

In our opinion and to the best of our information and according to the explanations given to us, I certify that the company has complied with the conditions of Corporate Governance as stipulated in the above-mentioned LODR,2015.

As required by the Guidance Note issued by the Institute of Chartered Accountants of India, I have to state that no investor grievance is pending for a period exceeding one month against the Company as per records maintained by the Company.

I further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the management has conducted the affairs of the Company.

PLACE : MUMBAI FOR MOHANDAS & CO.
DATE : 01-09-2018 CHARTERED ACCOUNTANTS
Sd/-
BELLE M SHETTY
(PROPRIETOR)
M.No. 031256

CHIEF EXECUTIVE OFFICER (CEO) CERTIFICATION

To

The Board of Directors,

SUNBRIGHT STOCK BROKING LTD.,

I, Vimal Raval, Managing Director of the Company, do hereby certify that:

1. I have reviewed the financial statements and the cash flow statement for the year 2017-18 and to the best of my knowledge and belief:

a. These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading.

b. These statements present a true and fair view of the Companys affair and are in compliance with existing accounting standards, applicable laws and regulations.

2. There are, to the best of my knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, illegal or in violation of the Companys Code of Conduct.

3. I 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 we are aware and the steps I have taken or propose to take to rectify these deficiencies.

4. I have indicated to the auditors and the Audit committee:

a. Significant changes in internal control over financial reporting during the year;

b. Significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial statements; and

c. Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the Companys internal control system over financial reporting

BY ORDER OF THE BOARD OF DIRECTORS
FOR SunBright Stock Broking Ltd..
PLACE: KOLKATA Sd/-
DATE : 01-09-2018 VIMAL RAVAL
(CHAIRMAN)