I am delighted to present the 23rdAnnual report of the Company. The yeargone was a year of some major developments on economic front. Various economic reformswere undertaken in the year which includes: implementation of the Goods and Service Taxannouncement of bank recapitalization push to infrastructure development by givinginfrastructure status to affordable housing higher allocation of funds for highwayconstruction and greater focus on coastal connectivity. I believe this all will prove tobe a positive effect on economy in the long run.
The year 2017-18 was marked with strong macro-economic fundamentals. However thegrowth of gross domestic product (GDP) moderated in 2017- 18 vis-a-vis 2016-17. India'sGDP grew 6.6% in financial year 2017-18. There was an improvement in export growth fiscaltrends remained attuned to the consolidation plans and inflation remained within thelimits. The year also witnessed an increase in global confidence in Indian economy as wellas improvement in ease of doing business ranking.
At S R G Securities we are making our efforts in increasingly filling the gaps left bybanks in rural/semi- rural and urban markets and we are also trying to develop small andmicro businesses through our local presence and strong customer relationships.
We have led financial product innovation through meeting financing needs of theunder-served segments of society such as small enterprises. We are also leading inproviding small ticket personal loans financing for working capital requirements alongwith Business Loans- Micro Finance and Enterprise Loans Vehicle finance equipmentfinance etc.
Let me now share with you all the financial highlights of the Company for the F.Y.ended March 31 2018.
Profit After tax grew by 30.26% from Rs.37.88 Lacs in previous year to Rs. 49.34Lacs in year 2018.
Profit Before Tax rose by 20.86% from Rs. 54.01 Lacs in previous year to Rs.65.27 Lacs in year 2018.
Loan Portfolio grew by 32.30% from Rs. 1353 Lacs in previous year to Rs. 1790Lacs in year 2018.
Gross Revenue grew by 20% from Rs. 263 Lacs in previous year to Rs. 318 Lacs in2018.
Capital Adequacy Ratio of the Company reached at 51.26% as on March 31st2018.
Earnings per share increased from Rs. 0.98 in 2016-17 to Rs. 1.23 in 2017-18.
EBIT grew by 15.40% to Rs. 178 Lacs in 2017-18 from Rs. 154 Lacs in 2016-17.
Company raised funds of Rs. 3.75 Cr by way of issue of 1500000 equity sharesof face value of Rs. 10/- each at an issue price of Rs. 25/- each (including premium ofRs.15/- each) by way of private placement to promoters and non- promoters.
I firmly believe that the developments of past year will change the way Indians spendsand live in the future. This will lead to an accelerated evolution and transformationalbusiness landscape wherein SRGSFL will continue its contribution in the nation's growth.
I would like to thank each one of you for contributing to our vision and buildingSRGSFL a successful and meaningful entity. With government making financial inclusion apriority your Company will continue to deliver profitable growth and contribute to nationbuilding by aligning to larger cause of the country.
Vinod K. Jain