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Khandwala Securities Ltd.

BSE: 531892 Sector: Financials
NSE: KHANDSE ISIN Code: INE060B01014
BSE 00:00 | 02 Dec 38.95 -2.00
(-4.88%)
OPEN

41.50

HIGH

41.50

LOW

38.95

NSE 00:00 | 02 Dec 38.40 -2.00
(-4.95%)
OPEN

41.90

HIGH

41.90

LOW

38.40

OPEN 41.50
PREVIOUS CLOSE 40.95
VOLUME 10491
52-Week high 45.45
52-Week low 14.60
P/E 779.00
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 41.50
CLOSE 40.95
VOLUME 10491
52-Week high 45.45
52-Week low 14.60
P/E 779.00
Mkt Cap.(Rs cr) 59
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Khandwala Securities Ltd. (KHANDSE) - Chairman Speech

Company chairman speech

Dear Shareholders

As I write to you life and lifestyles across the world are undergoing a radicalchange. The coronavirus pandemic hasn't ended yet; these are difficult times and we mustprepare to embrace the radical changes in our lives and the way we work.

The impact of COVID-19 pandemic on both the global and domestic economies has beenunprecedented and largely disruptive. The overall business environment remained muted withdemand slackening in almost all sectors.Financial markets also went through extremevolatility owing to stringent lockdowns. However the second half of the year saw aquicker and remarkable recovery due to unlocking of restrictions pick-up in economicactivity favorable government reforms and mass disbursement of vaccines to halt thespread of the virus. Financial markets soared to all-time highs reflecting improvement ininvestor sentiment. As the pandemic spread our topmost priority was to ensure the safetyof our employees and facilitating uninterrupted services and support to our customers. Ourtechnology team played a vital role in providing adequate systems to employees so thatthey can operate smoothly out of the safety of their homes. We provided remote workingtechnology and protocols used video calling and virtual meeting platforms to keep ouroperations running. During the lockdown our technology platform worked successfully andfacilitated in servicing our customers efficiently.

When the global economy went into recession in 2020 due to the COVID-19 impact centralbanks embarked on record monetary stimuli and governments across theglobe adopted acounter-cyclical fiscal policies by embarking on unprecedented fiscal spending to pulltheir respective economies out of the recession caused by the once-in-a-century crisis;these measures met with visible success. Growth recovered in the second half of CalendarYear 2020 and high frequency economic indicators such as global Purchasing Managers' Index(PMI) showed that the momentum in economic recovery continues.

At home too the Indian government took series of measures to minimise the impact ofthe pandemic and to kick-start the economy. Measures like the stimulus package theAtmanirbhar Bharat campaign liberalisation of FDI rules focused industry- specificincentives and financial and food assistance to the needy helped to cushion the direeffects of the pandemic. Steps like support to MSMEs permission for commercial miningagri reforms etc. are expected to further help in achieving the broader goals of economicgrowth and self-reliance. Gradually after the government eased Covid related restrictionson mobility economic activity has started limping back and we closed the year withQ4FY2021 real GDP growth of 1.6% which was the strongest quarter of the year. The IMFexpects India to be the fastest growing economy in the world during CY2021 at 12.5% GDPgrowth. Structural reforms and pro-growth policies of the Government have the potential toextend the growth momentum for India beyond CY2021. The global GDP too is expected to growby 6% in CY2021 after contracting by 3.3% in CY2020. Emerging economies are expected togrow faster at 6.7% than advanced economies at 5.1%.

The Indian equity markets had an eventful year: first the bourses dipped into bearterritory but soon reversed to a spectacular bull run with the benchmark index NIFTY50rallying 71% during FY2021. The rally was secular and broadbased with small and midcapsoutperforming headline indices. This was on the back of mirroring global markets as wellas the expansionary FY2022 Union Budget which incorporated a countercyclical fiscal policywith focus on reviving growth. The year saw record number (up ~3x Y-o-Y) of new demataccount holders entering the market. There was significant surge in trading volumes(average daily turnover almost doubled) led by historic levels of volatility arising outof the pandemic lower interest rate regime in the market and aided by the work-from-homeenvironment.

Your Company has immense reserves of inherent strengths to capitalise on theopportunities. The biggest amongst these is its ability to constantly reinvent itself toremain relevant for the customer's changing and evolving needs. The Company has constantlyinnovated and added products features and services to its arsenal many of which havegone on to become industry standards.

I would like to reiterate that Khandwala Securities Limited is an over 90-yearoldcompany but yet a young enterprise in mindset. It works with the maturity of anestablished firm and agility of a start-up. As a consumer-centric organisation while weare proud of our legacy we do not rest on our laurels. We have kept augmenting customertrust refreshed our talent invested substantially in technology maintained high levelof corporate governance and constantly endeavoured to give back to the society. Wecontinue to invest in people processes and technology towards greater stakeholder valuecreation.

I take this opportunity to thank all of you - and our customers partners associatesemployees communities and the regulators - for the continued support and trust by all inour long-term story and solicit your continued support going forward. And finally alongwith all of you we look forward to a brighter stronger post-covid future for our countryand its people.

Pranav Khandwala
Whole-time Director & CFO

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