You are here » Home » Companies » Company Overview » Khandwala Securities Ltd

Khandwala Securities Ltd.

BSE: 531892 Sector: Financials
NSE: KHANDSE ISIN Code: INE060B01014
BSE LIVE 14:41 | 17 Nov 13.50 0.52
(4.01%)
OPEN

12.99

HIGH

13.50

LOW

12.92

NSE 15:22 | 17 Nov 13.00 0.25
(1.96%)
OPEN

12.20

HIGH

13.00

LOW

12.15

OPEN 12.99
PREVIOUS CLOSE 12.98
VOLUME 2090
52-Week high 18.00
52-Week low 12.52
P/E
Mkt Cap.(Rs cr) 16
Buy Price 13.05
Buy Qty 50.00
Sell Price 13.50
Sell Qty 80.00
OPEN 12.99
CLOSE 12.98
VOLUME 2090
52-Week high 18.00
52-Week low 12.52
P/E
Mkt Cap.(Rs cr) 16
Buy Price 13.05
Buy Qty 50.00
Sell Price 13.50
Sell Qty 80.00

Khandwala Securities Ltd. (KHANDSE) - Chairman Speech

Company chairman speech

Our endeavours since the last one year have been to try and put our best efforts togenerate growth by bringing about changes in our business models. Last year in our annualreport we introduced certain guiding principles. We have stood by these principles interms of being fair obeying the rules respecting risk and making continues effort tomotivate the people connected to the organisation. We have adhered to all these guidedprinciples and we are confident that by following these principles year on year ourcompany’s foundation and values will always remain strong. We believe that thebusiness where the basic principles are not compromised with it can always survive thetoughest of times and emerge stronger.

We are on a journey of transformation. The industry as well as the way of doingbusiness is changing. With technology speeding up spread of information Investors arebecoming more and more aware. Hence it is our endeavour to try and be one step ahead notonly in terms of information but also in terms of processes.

We believe that going forward the government will continue to bring many positivechanges in our system. With GST being successfully introduced the confidence of thecitizens of our own nation as well as the foreign nationals has increased. It has put ourcountry in a bright spot and from here onwards there seems like there is no looking back.This positive outlook in the long term would benefit our business and we look forward tocapitalising on the new developments.

In the near term there could be stock-specific corrections but no major dip in themarket as domestic liquidity has been fairly robust on the back of strong SIP and Ulipinflows.

In the medium to long term we are quite bullish on equity markets as the Indianeconomy is in a sweet spot with most macro parameters like growth inflation and currentaccount deficit showing signs of stability. Stable economic parameters coupled with thepick-up in earnings growth and robust liquidity signal good times for the equity marketsover the next three to five years. We are in the up cycle of corporate earnings growthand earnings are likely to grow in double digits annually over the next few years andtherefore valuation multiples could remain at a premium for now. After the recent run upNifty is trading at 10% premium valuation over long term average on the basis ofprice-to-earnings ratio.

However if one looks at other valuation parameters such as price to book and MarketCapitalisation to GDP the market is not overvalued. The current valuations on PE multiplelooks higher since the markets have rallied while we have not seen earnings growth overthe past few years. While we may not rule out a correction in market in the near termIndian equity markets are still attractive for long-term investors as the impact ofstructural reforms initiated by the current government will begin to show results in thenext few years. This year your Company has reported an income of Rs 495.36 lacs up42.05% from last year and loss after tax of Rs. 60.95 lacs down compared to the previousyear loss. The Return on equity has been (0.51) for F.Y. 2016-17 to (0.59) for F.Y.2015-16. The Company’s Networth is now Rs 2846.52 lacs with a balance sheet size ofRs 3921.26 lacs. Your Company’s future endeavors will be to have a healthy financialperformance and a strong balance sheet which will allow us to serve you even betterthrough good times or eventual lean ones. To sum up the strategic realignment of ourbusinesses the reallocation of our capital and the resulting changes in the value drivershas enhanced the earnings power of our Company. The key pillars of future growth that wehave been methodically building make us optimistic of continued strong performance in theyears ahead. I would like to express my gratitude to our Board of Directors for theirsupport and guidance. I am also grateful to all our stakeholders and employees who havereposed their trust in us and continued to give us support.

With best wishes

Sincerely

Bhagyashree Khandwala

Executive Director / CFO

May 29 2017