FY 2018-19 has been
another great year for your company with revenues and profitability scaling new highs.
Its been over two decades since we commissioned our broking business on the back ofrevolutionary platform. Today we are not only a leading broking house in India accountingfor approx. 3% of the NSE derivative turnover in FY 2018-19 (expected to increase up to 5%once Total Securities business is merged during the year) but also a diversified andrespected financial conglomerate. We cater to diverse clients with our multi-portfolioplatform.
Looking back all these years the very first thought that crosses my mind is - what isit that we did right? While being at the right time and right place when Indian marketswere starting to boom was certainly an important driver. But then I believe ourunwavering drive to create differentiation and gain a competitive edge in the industrythrough the use of technology nailed it. We did this with our constant focus on adoptingthe latest technologies nurturing the organizational knowledge capital with the best ofpeople and providing unmatched value-added services to clients. Our commitment to ethicstransparency and strong corporate governances further made us a trusted player.
Acquisition of Total Securities
We have finalized acquisition of Total Securities Pvt. Ltd. in the last year
It adds value in terms of geographical presence adds diversity to product mixand enhances leadership team
Delivering Performance by Doing Things Right
At Share India our resolve to doing things rightly led us to deliver another year ofoutstanding performance despite a difficult operating macro environment and volatilemarkets. Our revenues during the year grew 28.7% to Rs. 1743 mn and net profit by 26.8%to Rs. 194.5 mn. The broking business continued its good performance with your companyemerging amongst the top drivers on NSE in FY 2018 - 19. Our new businesses of MerchantBanking Portfolio Management Services and Non-banking Financial Services have shown goodstart and will provide much-needed diversity to revenue mix in due course. We expect thesebusinesses to grow and start contributing meaningfully. The current tough environmentprovides opportunity to your company to prepare for next phase of markets.
Focused on Doing Better
As we move forward our efforts will be on doing things in a better way to make yourcompany more sustainable over long run and maximize value creation. Important to this willbe consolidating existing business and undertaking efforts to drive ancillary business andexploring new growth areas. In a landmark move to consolidate our broking business weundertook the strategic decision to merge operations of Total Securities with yourcompany. It will make us a dominant force in the segment with a larger portfolio ofservices trading strategies clientele and reach; we would also be able to grow marketshare in the capital market as well as drive cost rationalization. We are greatly excitedby the opportunities that our newly entered NBFC venture poses. Into its first year ofoperation in the ambit of Share India the business has shown good momentum achieving atopline of Rs. 57 mn and a profit of Rs. 5.5 mn led by launch of several new products andintensified distribution with focus on personal finance. We will be focused on furtherstrengthening our portfolio and undertaking dedicated efforts to grow it.
Your company continued its strategy of becoming a diversified financial conglomerate byventuring into the insurance space with its subsidiary Share India Insurance Brokers.India's favorable demography rising disposable income and insurance under penetrationaugur well for this business.
Technology and intellectual capital will remain at the core of your company's strategy.They have always been a key differentiator for us since our inception and we will continueto invest in them to sustain this advantage.
Message to the Shareholder
On behalf of the entire Board I thank all our stakeholders for their continued supportand belief in us. I thank our Directors and Management for their guidance andcontribution the employees for their dedication and passion at work and the businesspartners for their trust in us. I also thank the shareholders for placing their confidencein us and believing in our growth story. Your company will continue its efforts of DoingThings Right and Doing Them Better to maximize value creation for them.
Chairman & Managing Director