Betala Global Securities Ltd (NSE:531530) FY22 Earnings Concall dated Jul. 28, 2022
Corporate Participants:
R C Betala — Chairman
M.K. Madhavan — Special Appointee
Presentation:
R C Betala — Chairman
[Abruptly started] the multiple location duly formed the quorum of the commencement of this 28 AGM. Since the question quorum is present and formerly declaring the meeting opened, at first, I would like to confirm the presence of my colleague at this meeting, Mr. Rajiv Udani, an Independent Director, Chairman of the Audit Committee and Nomination and Remuneration Committee; Mr. Sundaram Murthy Sasikumar, Independent Director, Chairman of the Stakeholder Committee; Mrs. Purvi Amit Thapar, Independent Director, Business Activities, Betala Global Securities Limited. The company was promoted by RoopChand Betala and myself. The Company is acting as an Investment Broker in Securities Markets purchase and sale of securities and a Loan and Financial advisory granting of unsecured loan.
Company performed — during the year company received an interest of INR6,59,000 for the previous year, more than the previous year. The profit before tax was INR1,70,000 for the previous year. Dividend, the Board of Directors has not recommended any of the financials — any financial year 2021 due to loss in this year NIM. Management Discussion analysis report about the industry volatility in stock market is inherent, but such high volatility has been promising high return. Despite the ups and downs stock market has been good during the year last year.
In India, there has been a consistent demand from micro, small and medium enterprises, SME, for loan due to increasing business opportunity and support from the government despite the NDA in banks — NPA in banks and NBFCs financial system has been stable and improved. Company performance supported by the robust surge in capital market as a increased demand for loans helped the company to gain a nominal revenue. It is expected optimistically to continue in the coming year opportunity and uncertainty in global market due to recessionary environment poses threat in downturn in Capital Markets. However, the management took possible step to cash in on various opportunity at time also observe closely, which may lead to the occasion of investments.
Internal control system and their adequacy with the support of guidance of experienced professionals, the company has strengthen internal control to achieve efficiency in operation. Optimum utilization of resources and effective monitoring thereafter compliance with applicable law company outlook. The company has been in discussion for possible amalgamation merger with similar business entities as and when the right opportunity arise with permission of all the member.
I consider the notice of AGM together with the necessary explanatory statement director report, including the corporate governance report, secretary audit report — auditor’s report financial statement is being scheduled note on account as read. There are no quantification reservations or adverse remarks or disclaimer made by the secretarial auditor and authorities, statutory auditor of the respective report. As per the notice of AGM, we shall have the business as follows. Ordinary business appointment of financial statement for the financial year ended 31st March 2022; the appointment of Retiring Director myself RoopChand Betala retired by rotation and eligible for reappointment, appointment of statutory auditor, Mrs Jayesh Sheth & Co Chartered Accountant firm registered number 119586W.
The scrutinizer will submit his report on the voting results within next 48 hours after completing scrutiny of votes cast at this meeting and the result will be declared and placed on the website of the company suitable communication will be given to BSE RTA and NHTL.
With this, the meeting is concluded. Be safe. Thank you.
So, we will now proceed to the proceeding of ordinary businesses. The first and foremost businesses is the adoption of the financial statement to receive consider end up the audited financial statement of the company for the year ended 31st March 2022 and report of the Board of Directors and auditor thereafter — therefore. Anyone who has any questions, anything, can raise their hand, others will consider it read. So the resolution is passed.
Item number two reappointment of Retiring Director, who appointed Director in the pace of Mr. RoopChand Betala number 02128251, who retire by rotation and being eligible for offer himself for reappointment. Since it’s myself, I will not vote. Other than me, everyone can vote it out. If anyone has any objection, they raise their hand. Otherwise, you can go ahead and vote. Since no one has any objection, we consider this resolution being passed.
The third and most important business of the meeting is appointment of statutory auditor. To consider any thought fit to pass the following resolution as an ordinary resolution, resolve that the pursuant of Section 139, 149 and 141 and all other applicable provisions, if any of the Companies Act 2013 read with the company’s Audit and Auditor Rules 2014, including any statutory modification or re-enhancement thereof and question to the recommendation of the Of the Audit Committee and the Board of Director of the Company Mrs. Jayesh Sheth & Co Chartered Accountant firm registered with number 119586W be and hereby appointed as a statutory auditor of the company for a term of five consecutive year that is from the — conclusion of 28 AGM till the conclusion of 30 AGM to be held in the year 2027 to be conducted. Audit for the financial year 2022-23 to 2026-27 at such remuneration as may be determined by the Board of Director of the company. Resolved further that the company that the Board of Director of the company, including its committee thereafter be and hereby authorized to do all such that facts, deed, matter and things as maybe give proper necessary or expedient, including filing requisite form or submission of documents with any authority or accepting any modification to the clause as required by such authorities for the purpose of giving effect to this resolution and the matter connected thereafter or instituted there too, so if anyone has any objections then we can wait, otherwise, it will be considered read and passed. So there’s no objection. It’s been passed. Jayesh Sheth has been — Jayesh Sheth & Company has been appointed auditor of the company for the next five consecutive years. Anything else is near to do, then our special appointee Mr. M.K. Madhavan can speak for a minute, and then we can close the meeting. Madhavan, it’s your time.
M.K. Madhavan — Special Appointee
Yeah. Based on the remote e-voting and venue e-voting, I will submit my report after the conclusion of the meeting. So you can submit that report with the BSE and circulate among the members and display at the website of the company. That’s it.
R C Betala — Chairman
[Foreign Speech]
M.K. Madhavan — Special Appointee
Am I audible now?
R C Betala — Chairman
Yeah. So —
M.K. Madhavan — Special Appointee
Yeah.
R C Betala — Chairman
So can we accept it as read Madhavan?
M.K. Madhavan — Special Appointee
Yeah. After scrutinizing the remote e-voting and the venue e-voting, I will submit my report to you sir. Based on that, as the Chairman of the meeting, you can submit the voting results to the BSE and to the members on the website.
R C Betala — Chairman
Yeah, we’ll do that immediately once — once we get this immediately, we’ll put it on the RTA website and other website also. So friends, it was my pleasure to invite you all this AGM. And we will come back to you next year, and hopefully we’ll come back with the new and bigger results and better with the company. And in the meanwhile, we’ll also look for the opportunity whatever available in the market and take accordingly steps will be duly given — duly notice will be given to you. Thank you very much for all your time and I hope we’ll see you next year. But till the time, be safe and be happy. Thank you very much. Okay, Madhavan?
M.K. Madhavan — Special Appointee
Yeah. Thank you. Thank you.
R C Betala — Chairman
Okay. Right.
M.K. Madhavan — Special Appointee
Thanks a lot.