TTI Enterprise Ltd Management Discussions.


The Company is registered with RBI as Non-Deposit taking Non-Banking Financial Company NBFC – ND and operates in a single segment as lending and investing in securities. The company is listed with Calcutta Stock Exchange Ltd and Bombay Stock Exchange. The Company is actively engaged in the fund-based activities, providing loans and advances, investment in shares & securities etc.


Globally, economic recovery gained momentum, with the year 2017 characterizing a synchronized improvement across all regions. The global economic activity is gaining strength, with the expansion of global trade, triggered by gradual improvement in global demand.

The global economy has become so interconnected that important trends and events in one region can have substantial effects on the opposite side of the globe – for better or for worse. Conditions for investment have generally improved, amid low financial volatility, reduced banking sector fragilities, recovery in some commodity sectors and a more solid global macroeconomic outlook. However, the world economy continues to face a number of downside risks. They include financial growth by means of higher inflation pressures, a stronger U.S. dollar, and lower equity prices, political populism, global insecurity and the refugee crisis, rising protectionism and trade tensions between major economies, and from geo-political developments in North East Asia and the Middle East. The tightening of global financial conditions would have implications for global asset prices and capital flows, leaving economies with high gross debt refinancing need and unhedged dollar liabilities, particularly exposed to financial distress. Global economic activity is picking up with a long awaited cyclical recovery in investment, manufacturing, and trade.


India has emerged as the fastest growing major economy in the world as per the Central Statistics Organization (CSO) and International Monetary Fund (IMF) and it is expected to be one of the top three economic powers of the world over the next 10-15 years. The Financial Year 2017-18 marked a significant economic measure by the Government: The Goods and Services Tax (GST) was implemented from July, 2017 as the nation moved to ‘one nation- one tax. The reform measure has helped India move into the Top 100 Club in World Banks ‘Global Ease of Doing Business rankings.

The turn around in growth has been underpinned by a significant uptrend in private consumption, especially to improved rural demand on the back of a bumper harvest and the Governments thrust on rural housing and infrastructure. With improving investments, there are signs that a recovery is underway. Industrial activity has rebounded with strong industrial production growth, led by a rise in consumption, manufacturing and electricity generation. GST data shows 50% rise in number of indirect taxpayers and demonetisation has encouraged financial savings. The improvement in Indias economic fundamentals can be credited to the policy initiative undertaken by the Government. Indias GDP is estimated to have increased 6.6 per cent in 2017-18 and is expected to grow 7.3 per cent in 2018-19.


The Non-Banking Financial Companies (NBFCs) sector is integral to the Indian financial landscape. Some of the reasons for the success of the sector include cost efficiency, refined product lines and better customer services. Niche segmentation, simplified procedures and a focused credit approach are believed to be the key factors bolstering the profitability of NBFCs, making them one of the highest value creating business models within the Indian economy.


Non-Banking Finance Companies (NBFCs) have emerged as substantial contributors to the countrys economic growth because they act as critical link in the overall financial system catering to a large market of niche customers. The outlook for the sector over the next year looks comparatively better on account of positive trend of growth in economy which will help our Company to continue to explore profitable business opportunities. The Company remains confident of the long term growth prospects & opportunities ahead of it in its business.


Over the years, NBFCs have played a significant role in providing small-ticket loans to retail customers in underserved regions, who do not have access to formal sources of finance. There is huge opportunity for credit intermediation and expansion in the country owing to improved economic activity and play an important role in nation building. They are emerging as an alternative to mainstream banking. NBFCs do play a critical role in participating in the development of an economy by development in sectors like transport, employment generation, wealth creation, bank credit in rural segments and to support financially weaker sections of the society. Unfavourable events in the Indian economy can affect consumer sentiment and in turn impact consumer decision to purchase financial products. Competition from a broad range of financial service providers, unstable political environment and changes in Government policies / regulatory framework could impact the Companys operations. To mitigate the risks affecting the growth and profitability, the company has directed its efforts for risk management by employing the people who are experts and trying to initiate new technology. The company is constantly engaged in innovating its methods and procedure of risk management.


The company has only one segment and entire revenue is generated from financial activities only. Accordingly, segment reporting as required under AS17 issued by the ICAI is not applicable.


Your Company recognizes people as its most valuable asset and it has built an open, transparent and meritocratic culture to nurture this asset. It accordingly invests in training and long-term development programs and a healthy working atmosphere that ensures equal opportunity for growth and challenge to all the employees. Your Company is professionally managed with senior management personnel having rich experience and long tenure with the Company. The Company would continue to expand the human resources which are fundamental to the financial business services and responsible for its progress and stability.


The Company has adequate systems of internal control to ensure that all assets are safeguarded and protected against loss from any unauthorized use or disposition and that the transactions are authorized, recorded and reported correctly. The Company carries out extensive and regular internal audit, reviews the policy, guidelines and procedures. The Internal Auditors monitor the efficiency and efficacy of the internal control systems in the Company, compliance with operating systems/accounting procedures and policies of the Company.


The Net Profit (after tax) for the Financial Year ended 31st March, 2018 standing at books at . 20.98 Lakhs as compared to the last years profit of . 7.23 Lakhs.


In this Annual Report, we have disclosed forward-looking information to enable investors to comprehend our prospects and take investment decisions. Statements made in this report of Management Discussion and Analysis describing the Companys objectives, projections, targets, estimates, expectations may be "forward looking statements" within the meaning of applicable securities laws and regulations. There may be deviations between actual results and the forward looking statements contained in this document due to various risks and uncertainties and the dynamic business environment in which the Company is operating. Important developments that could affect the Companys operations include a downtrend in the financial services industry- global or domestic or both, significant changes in the political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, Government policies and other incidental factors, etc.

For and behalf of the Board of Directors


Binjal Mehta

Whole Time Director

DIN: 00043830

Place: Kolkata

Date: August 6, 2018