You are here » Home » Companies » Company Overview » Aryan Share & Stock Brokers Ltd

Aryan Share & Stock Brokers Ltd.

BSE: 542176 Sector: Financials
NSE: N.A. ISIN Code: INE016X01010
BSE 00:00 | 28 Apr Aryan Share & Stock Brokers Ltd
NSE 05:30 | 01 Jan Aryan Share & Stock Brokers Ltd
OPEN 6.60
PREVIOUS CLOSE 6.60
VOLUME 200
52-Week high 6.94
52-Week low 6.00
P/E 6.95
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.60
CLOSE 6.60
VOLUME 200
52-Week high 6.94
52-Week low 6.00
P/E 6.95
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Aryan Share & Stock Brokers Ltd. (ARYANSHARE) - Director Report

Company director report

To

The Members

Aryan Share and Stock Brokers Limited

The Directors of the Company feel amiable in presenting 24th AnnualReport of the Company Along with the Audited Statement of Accounts and Auditors'

Report for the Financial Year ended 31st March 2019.

1.) FINANCIAL PERFORMANCE:

Particulars Current Year Previous Year
(F.Y. 2018-19) (F.Y. 2017-18)
Revenue from operations 209.99 313.76
Other Income 45.89 2.58
Total Revenue 255.88 316.35
Expenses(Other than finance cost) 187.08 211.40
Finance cost 27.30 65.36
Total expenses 214.38 276.76
Profit before tax 41.50 39.59
Less : Current tax 8.00 10.60
Deferred tax (2.53) (0.41)
Profit/Loss after tax 36.03 29.40

2.) STATE OF COMPANY'S AFFAIRS:

There is No change in the Nature of the Business of the Company during the FinancialYear 2018-19 Despite of difficult market conditions healthy competition in the market andlack of interest of the investors the performance of your Company has been satisfactoryand to achieve the healthy growth for its stakeholders. The performance evaluations of theCompany are as under; Revenue: During the financial year 2018-19 the total revenue of theCompany has decreased from Rs. 316.35 lacs to Rs.255.88 Lacs. Expenses: In Financial Yearended 31st March 2019 the expense of the Company is decreased from Rs. 276.76lacs to Rs. 214.38 lacs as compared to the previous financial year ended on 31stMarch 2019. But the depreciation & amortisation cost of the Company is decreased byRs. 1.40 Lacs as compared to the previous financial year 2017-18.

3.) DIVIDEND:

Keeping in view the growth prospects of the Company the Board of your company has notrecommended any Dividend for the Financial Year 2018-19.

4.) MATERIAL CHANGES AND COMMITMENTS:

The Company has not undergone any Material Changes during the Financial Year that mayaffect the Financial Worth of the Company in any way.

There are No Significant and Material orders passed by the Regulators Tribunals orCourts which can have a significant impact on the status of the Company of being a goingconcern and Company's Operations in future.

5.) INTERNAL FINANCIAL CONTROL:

Your Directors state that there are adequate Internal Controls in the Company forensuring the Smooth working of the Operations and growth of the organization

6.) MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT:

As the requirement under SEBI(LODR) 2015 the Management is required to prepare MDAR for that reason it has been annexed as Annexure-4 forming part of this Report.

7.) REPORT ON CORPORAE GOVERNANCE:

Your Company has not been involved in any unethical Practices and has complied with allthe Compliance related requirements. A detailed Report on Corporate Governance is requiredto be made by the Compliance Officer of the Company as per SEBI (LODR) 2015. The same hasbeen annexed in the Report as Annexure-5.

8.) SUBSIDIARIES/ JOINT VENTURE / ASSOCIATE COMPANIES:

The Company has no Subsidiary/ Joint Venture/ Associate Company and hence is notrequired to prepare any Consolidated Financial Statement.

9.) DEPOSITS:

The Company has not accepted any Deposits during the Financial Year 2018-19 which arerequired to be reported as per Chapter V and Section 73 to 76 of the Companies Act 2013.

10.) DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act 2013 the board of directors to thebest of their knowledge and ability confirm that:

1. In the preparation of the annual accounts for the year ended March 31 2019 theapplicable accounting standards read with requirements set out under Schedule III to theAct have been followed and there are no material departures from the same;

2. The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as at March 31 2019 and of the profit ofthe Company for the year ended on that date;

3. The Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

4. The Directors have prepared the annual accounts on a ‘going concern' basis;

5. The Directors have laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively; and

6. The Directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating effectively.

11.) EMPLOYEE STOCK OPTION:

During the year there has not been any issue of Equity shares to the Employees of theCompany on differential basis. Hence no such information is required to be filed underthe provisions of Companies Act 2013.

12.) AUDITOR AND AUDITORS' REPORT:

The Shareholders at their 22nd Annual General Meeting (AGM) held on 29thSeptember 2017 had approved the appointment of M/s. R Balaji & Co CharteredAccountants Chennai (Firm Registration No. 000332S) Statutory Auditors to hold officefor the period of five years from the conclusion of 22nd AGM till theconclusion of 27th Annual General Meeting. The Auditors in their Audit report have notmade any adverse remark qualification or reservation

13.) EXTRACT OF ANNUAL REPORT:

HEREWITH the Extract of Annual Return in the Specifies form i.e. Form No.MGT 9 has beenenclosed as the Annexure-1.

14.) CORPORATE SOCIAL RESPONSIBILITY:

As the Net Worth Turnover and Net Profit are below the Limits as prescribed underSection 135 of the Companies Act 2013 and Rule 9 of the Companies (Corporate SocialResponsibility Policy) Rules 2014 no need to form CSR committee. Hence the Company isnot required to contribute in CSR.

15.) DIRECTORS AND KEY MANAGERIAL PERSONNNAL:

During the year under review the following changes occurred in the position ofDirectors/KMP of the company.

Underneath a table has been provided consisting of the information regarding Directorsof your Company

S. No. Name Designation Executive/Non-Executive
1. Shanmukh Navin Shah Managing Director Executive
2. Paresh Navin Shah Whole time Director Executive
3. Manoj Navin Shah Whole time Director Executive
4. Rajesh Ramanathan Independent Director Non Executive
5. Nirmalchand Premraj Independent Director Non Executive
6. Uma Rajesh Women Director Non Executive
7. Ranganathan Giridharan Chief financial officer -
8. Laxmi Kabra Company secretary -

16.) MEETINGS OF BOARD:

The following Meetings of board of directors held During the Financial Year 2018-19

S. No. Date of the Meeting Members Present
1. 30th April 2018 All
2. 30th May2018 All
3. 08th August 2018 All
4. 12th November 2018 All
5. 11th January 2019 All
6. 31st January 2019 All

17.) COMMITTEE OF BOARD OF DIRECTORS:

Pursuant to section 178 and other applicable provisions of the Companies Act2013Company had constituted the following Board Committees

1. Audit committee

2. Nomination and remuneration committee

3. Stakeholder relationship committee

4. Independent Director committee

5. Share transfer committee

The composition of all committees has been stated under corporate governance report asan integral part of Annual Report.

18.) BOARD EVALUATION:

Pursuant to the provisions of Companies Act 2013 the Board has carried out an AnnualPerformance Evaluation of its own performance the Directors individually as well asmutually evaluated their performance along with the performance of Audit CommitteeNomination and Remuneration Committee and Stakeholders Relationship Committee etc. Variousaspects such as Composition Attendance Duties Obligations etc. have been evaluatedunder this. The performance of the Directors was assessed individually and as a Whole.

19.) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTIONAND FOREIGN EXCHANGE EARNINGS ANDOUTGO ARE AS FOLLOWS:

The particulars as required under the provisions of section 134(3) (m) of the CompaniesAct 2013 in respect of conservation of energy and technology absorption have not beenfurnished the nature of activities undertaken by the company during the year under review.

a)Conservation of energy : NA

b)Technology absorption : NA

c)Foreign exchange earnings and outgo : NA

20.) REMUNERATION TO DIRECTORS:

The remuneration paid to Executive Non-Executive and Independent Directors aredisclosed in the extract to the Annual Return in Form MGT-9. The same has been annexed asAnnexure-1 of Board Report.

21.) RISK MANAGEMNT POLICY:

Risk Management is an integral part of the business process. The Company has mapped therisks at the business processes and enterprise levels and has evolved a risk managementframe work. The mitigate measures taken are reviewed periodically at the Board. Adequateback up of the systems in 3 sets are being taken and as a one more avenue remote servetechnology is being operated to mitigate any eventuality. The management is proud to saythat not even a single trading day is not lost nor data is lost due to the effective riskmanagement strategy.

22.) VIGIL MECHANISMPOLICY/WHISTLE BLOWER POLICY:

Company has formulated and published a whistle Blower Policy to provide vigil mechanismfor employees including directors of the Company to report genuine concern. The mechanismensures that strict confidentiality is maintained whilst dealing with the concern and alsothat no discrimination will be meted to any person for a genuinely raised concern. TheChairman of the Audit Committee may also contacted by employees to report any suspected orconcerned incident of fraud/ misconduct. The provision of policy is in line with theprovision of the section 177(9) of the Act; the policy is available on company's websitewww.assbl.com

23.) REMUNERATION POLICY:

In accordance of section 178 and other applicable provisions of companies Act 2013 readwith rules there under and applicable regulations of SEBI (Listing Obligation AndDisclosure) Requirements 2015 the board has formulated the nomination and remunerationpolicy of your company on the recommendations of nomination and remuneration committee;the policy is available on company's website:www.assbl.com

24.) SECRETERIAL AUDIT:

The board has appointed CS Vishakha Agrawal Company Secretary (ACS no 39298)to conduct Secretarial Audit for the financial year 2018-19. The Secretarial Audit Reportfor the financial year ended March 31st 2019 is annexed herewith marked asAnnexure-3 to this Report. The Secretarial Audit Report does not contain anyqualification reservation or adverse remark.

25.) PARTICULARS OF LOANS GIVEN INVESTMENT MADE GUARANTEE GIVEN AND SECURITIESPROVIDED:

The company has not given any loan done any investment or provided any guarantee underSection 186 of the Companies Act 2013.

26.) RELATED PARTY TRANSACTION:

None of the transactions with related parties falls under the scope of section 188(1)of the Act. Information on transaction with related parties pursuant to section 134(3) (h)of the act read with rule 8(2) of the Companies (Accounts) Rules 2014 are given inAnnexure-2 in Form AOC-2 and the same forms part of this report.

27.)DISCLOUSER UNDER THE SEXUAL HERASSMENT OF WOMEN AT WORKPLACE (PREVENTION ANDREDRESSAL) ACT 2013:

Aryan Share And Stock Brokers Limited is to provide the healthy environment to itsemployees the company has in place a prevention of the Sexual Harassment Policy and aninternal complaints committee as per the requirements of sexual harassment of women atworkplace (Prevention Prohibition And Redressal) Act 2013. The policy is available oncompany's website:www.assbl.com

28.) DECLARATON BY INDEPENDENT DIRECTORS:

Your company has received declaration from all the independent directors confirmingthat they meet the criteria of independence as prescribed under the provisions of thecompanies act 2013 read with schedules and rules issued thereunder as well as Regulation16(1) (b) of Listing Regulation (including any statutory modifications(s) orreenactment(s) for the time being in force).

29).DISCLOUSER REQUIREMENT:

• As per the Provisions of the SEBI (LODR) Regulation 2015 entered into with thestock exchanges corporate governance report with auditors' certificate thereon andmanagement discussion and analysis are attached which form part of this report.

• Details of the familiarization programme of the independent directors areavailable on the website of the Company www.assbl.com

• During the year the company has not transferred any amount to General reserve.

30.) ACKNOWLEDGEMENT:

Your Director wish to express their grateful appreciation to the continued co-operationreceived from the Banks Government Authorities Customers Vendor and Shareholders duringthe year under review. Your Director also wish to place on record their deep sense ofappreciation for the committed service of the Executives staff and workers of the Company

For and on behalf of the Board of Directors
Date: 09.08.2019 Aryan Share and Stock Brokers Limited
Place: Chennai