Wednesday, October 3, 2018

Share India Securities Ltd acquires Mumbai based Total Securities

Share India Securities Ltd 24th AGM 2018
Highlights of Chairman and CEO Message

“Share India gets on the cusp of strong growth”

In the words of Thomas J. Watson…To be successful, you need to “Have your heart in your business and business in your heart”. This is what Share India Securities has done in the last 24 years to become a successful financial services conglomerate and reach at this level to be in the Right Place at the Right Time for the Right Reasons.

At the 24th Annual General Meeting held on Saturday, September 29, 2018 at Hotel Radisson Blu, Kaushambi, Ghaziabad, Uttar Pradesh, Share India Securities Ltd (SISL) Chairman & Managing Director Mr Praveen Gupta and CEO & Whole Time Director Mr Sachin Gupta announced the merger of Mumbai based Total Securities with the Company and listed several achievements accomplished by the company during FY18 and shared road map for the future growth.   
Mr Praveen Gupta told the shareholders “The year gone by has been a landmark year for the company in many ways. We have strategically ventured into the synergistic business arenas of Merchant Banking and Wealth management. We have also acquired an NBFC giving us an inorganic entry into the segment. With all these developments, our presence in the financial sector has expanded considerably and we look forward to leveraging our current array of services and extensive client base to grow and create further inroads. During our successful journey, since 1994, we have seen various avatars of the capital markets and have adapted ourselves and emerged stronger. With the experience and insights that we gleaned, we are now in a strong position to guide our clients and take Share India brand to greater heights. The Company has reached a sweet cusp and is well set for strong growth and long term value creation for all the stakeholders including customers, employees, shareholders and society at large”

The company also announced its acquisition of Mumbai based Total Securities for which the board of Share India Securities Ltd has given an in-principle approval and expect to complete the process and formalities soon. Total Securities which has  a strong team of over 250 stock market professionals and expert traders working out of Maharashtra, Rajasthan, Gujarat and Tamil Nadu, has in-depth knowledge in the field of derivatives and is leader in jobbing, scalping and runs large proprietary desk.

“The combined entity will have employee strength of about 1000 and which will enhance company’s presence in all segments of Capital Market. The net worth of the merged entity will make SISL among top players nationally and its presence in the financial capital Mumbai, Western and Southern region will help the Company strengthen its service network and enhance business prospects” said Mr Sachin Gupta.

Going forward, he said "Share India’s FY 2020 vision entails increasing AP/SB count to all over India and capture market share by offering varied services under single umbrella. SISL also seek to forge institutional tie-ups in western and southern India to take advantage of brand value.

On the Merchant banking front the Company’s main focus is North and Western India and expects to gain market share faster than competition because of its goodwill, larger customer base, established relationship with clients and full-fledged services. Share India is the only merchant banker in the North having full-fledged set up to cater to the fund raising requirements of companies in the region which is still untapped and has huge growth potential.

The company has also developed a robust roadmap for the growth of NBFC division which aims to grow the loan book at a CAGR of 20 percent by diversifying and enhancing the product portfolio that offers Microenterprise Loans (under joint liability group) , Margin Funding , Loan against securities (LAS) and IPO Financing . Using technology as backbone the Company aims to diversify into more products such as Personal Loans and Secured Enterprise loans in SME Segment.

Mr Sachin Gupta further said “Over the past two and a half decades of our participation in the financial markets, we have grown considerably, in terms of reach and revenue. We have also augmented the range of products and services that we provide our clients to become a financial conglomerate that offers a gateway into the Mutual Fund, equity and commodity markets, while catering to the needs of both individuals and corporate”

Last year, we clocked a revenue growth of 25%, as our top-line increased from Rs. 1,063 mn in FY 2017 to Rs. 1,333 mn in FY 2018. Our bottom line expanded by a sterling 88.8% to reach Rs. 153.5 mn in FY 2018. A look at our performance since FY 2015 reveals that we have achieved consistent growth. Our revenue has grown at a CAGR of 64.2%, while our operating profit increased by a CAGR of 68.7% between FY 2015 and FY 2018. Our EBIT and PAT also displayed strong CAGR of 58.6% and 65.9%, respectively. We have also strategically expanded our presence to over 360 business locations, through which we cater to our 14,000+ clients.

In his concluding remarks Mr Praveen Gupta said “A large part of our success so far has been due to the commitment of our people. I would like to take this opportunity to thank them and appeal to their dedication in the years ahead too. I also express my thanks to all our Directors and Management for their invaluable contribution through their vision and execution of strategy, which have been critical for the success of the Company. Finally, I thank each and every shareholder for placing your confidence in us. With your continued support and trust, we look forward to growing the Company as we are strategically positioned – in the right place, at the right time, for the right reason”

About Share India Securities Ltd (
Share India Securities Ltd, a leading knowledge and technology driven financial services group, is engaged in the business of equity broking, investing and trading activities for the last 24 years and has now expanded its operation into mutual funds, NBFC, merchant banking and commodity markets. The Company became 200th SME Company to get listed on BSE SME Platform on 5th October 2017. The company script has been included in the BSE Group -1 securities by Bombay Stock Exchange.  The Company is in the process of establishing its presence in western and central India and is developing a distribution centre for various products offered by Share India to all the clients. The Company currently enjoys strong presence in North India with its business center in Uttar Pradesh, New Delhi, Rajasthan, Punjab and Haryana. Share India also has significant business operations in Maharashtra and Andhra Pradesh. The Company currently has a network of around 364 AP’s/Sub brokers registered with it spread all over India catering to the needs of our clients

The Company reported a remarkable financial performance for FY18 and the six months period ended 31 March 2018. The Company’s consolidated net profit for FY18 rose 92. 72% to Rs 15.35 crores compared to Rs 7.96 crores posted in FY17.  Company’s consolidated revenue grew 25.38% to Rs 133.30 crores compared to Rs 106.30 crore posted in FY17.

“Tasty Dairy on a Strong Course to Achieve Accelerated Growth”-Atul Mehra


Summary of Chairman’s Speech to the Shareholders

At the first Annual General Meeting (post the listing) of Tasty Dairy Specialities Ltd held on 28th September 2018 at the UPSIDC Industrial Area Jainpur, Kanpur, Founder and Chairman Mr Atul Mehra listed several land mark achievements such as overwhelming response to the IPO, the Company has entered into a MOU with PUM, Netherlands Senior Expert for the development and growth of Dairy and Farmers, the Company has received Registration Certificate issued by IRCLASS Systems that the Food Safety Management System of the Company complies with the requirements of ISO 22000:2005 and that Company qualified for ISI Quality Certification symbol for its Skimmed Milk Powder from Bureau of Indian Standard (BIS), the company was nominated for the “Social Enterprise of the Year” during the financial year 2017-18 and company's successful journey since inception in 1992 and also shared growth plan for the future.

Mr Mehra in his speech to the shareholders said “I feel honoured to present the First Annual Report for FY2017-18 as being a Listed Company. The last financial year FY2017-18 was a remarkable year for the company in many ways, despite difficult business environment on account of demonization and GST Implementation that slowed the growth significantly.   

However, as an fast emerging company with over two and half decades of expertise and experience  we did our best to defeat the economic and market difficulties and I am happy to inform you that the Company achieved highest ever growth in net sales and net profit last financial year. The Company’s Net profit in the financial year 2017-18 grew 18.4 % to Rs 5.34 Cr. as compared to Rs 4.51 crore posted in the previous financial year 2016-17. The turnover of your company enhanced from Rs 238.79 Crore to Rs 331.86 Crores, registering a highest ever growth of 38.97 %.  The company has shown consistent performance and growth over the years. In the last five years the Company clocked a CAGR growth of 7.2 % in revenues and 6.5 % in Net Profit.  

The company came out with its maiden IPO and was successfully listed under the SME Platform of Bombay Stock Exchange in February 2018. The IPO received an overwhelming response from the investors and was subscribed nearly 100 times which in itself is a landmark for a SME company.

Since the inception the Company has grown to become one of the leading players in the industry, handling production and procurement of milk and manufacturing of milk products. Tasty Dairy started its operations with handling 200 litres of liquid milk per day and  today  the Company have processing facility of about 3.15 lakh liters of milk per day and giving direct and indirect employment to people in and around Kanpur.

In addition to this Tasty Dairy is MOO’ving up the Dairy Skills in India. In a big and fast growing country like India the farmers need to be skilled in a wide range of areas to run profitable and sustainable dairy farming. Hence the Company is aggressively improving the dairy skill sets of thousands of farmers and other stakeholders in Uttar Pradesh through a self-sustaining social-business model for which the Company has recently set up INDUCED (Indo Dutch Centre of Excellence on Dairying), an organization born out of an MOU between Tasty Dairy Specialities Limited and PUM Netherlands Senior Experts.

We believe the dairy consumption is all set to go up significantly in India which will ultimately benefit the company. There are several tailwinds driving the growth of dairy sector such as increase in demand for value added products, increase in working population, rising income, focus on health & nutrition, growth of organized retail and rapid urbanization. The consumers are shifting towards quality, branded and value added products. The structural changes such as GST and tax compliance in the sector are helping the organized market players to grow faster.

The Company has been successfully adapting to these changes and challenges to meet the demands of growing market. We have upgraded our facilities with latest technology & boilers and installed condensate recovery system for enhancing energy efficiency and reducing cost.  We are increasing our milk processing capacity to five lakh liters of milk per day, add new products focusing on fastest growing categories like Cheese, Butter, Yugurt, Lassi, Ice Cream and few others. The Company is also building its retail presence across value chain and have launched exclusive company operated branded stores creating unique customer experience and to make entire range of Tasty Dairy products available under one roof.  Using latest technology as the backbone for sales growth we have launched our own Aap named Beatroute this year for making marketing and sales function robust and responsible.   The Company has also launched its products on E-Commerce platforms to enhance revenue growth from online sales.

Going forward, with our robust growth strategy and plans in place which are well supported by our scale-able capabilities and cash flows, we believe we are on a strong course to achieve an accelerated growth and create long term and sustainable value for all the stakeholders. Your company which is driven by strong vision, mission, goals and values, has a diversified product mix, brand and customer portfolio spread across the value chain. The Company is well supported and led by experienced management and professional team. Therefore, on behalf of my team members, I assure we shall strive to capitalize on available opportunities in our business segments to achieve a consistent growth of over 25-40% per year taking our top line to over Rs 600cr by FY2021 and attain new horizons.

Mr Mehra further said "The Company’s financial position is sound to take care of future growth through internal accruals and additional funds and Govt Grant, exemptions, subsidy and interest free loans. Ministry of Food Processing Industries is expected to sanction a Grant of Rs.10 Crores for the Scheme of Integrated Cold Chain and Value Addition Infrastructure under the Scheme of Pradhan Mantri Kisan Sampada Yojna. Currently, your company is also getting relaxation by way of exemption in Payment of Monthly electricity duty charges and will get expected benefit by way of refund / adjustment of Rs.55 Lakh (approx) which was sanctioned by Electricity Distribution Department of Dakshinachal Vidyut Vitran Nigam Ltd.
The Company has applied for 5% Interest Subsidy under PUBY-12 (Punjigat Byaj Upadan Yojna-2012) on Term Loans for 3-4 years and is expected to drive benefit of about Rs 56 Lacs (approx).

Additionally Your Company is also trying to avail VAT & CST Interest-free Loan, Under UP Trade Policy for a period of 7 years which starts from April, 2015 up to applicability of VAT/CST i.e. till June, 2017 and the tentative benefit amount will be Rs.2.91 Crores.

With the help of all I have mentioned briefly and the positive business growth drives including transformation of Dairy Farming, business friendly policy environment, positive economic outlook, the Tasty Dairy Brand with a taste that reflects goodness will propel the Company with a strong growth and goodwill in future and many years to come.   

From the bottom of my heart I thank our board members for their valuable guidance, our customers for their continued business and trust, employees for their immense contribution and hard work and shareholders for your faith in our growth story. I assure all my shareholders and stakeholders who have shown faith in our company that we shall leave no stone unturned and keep producing healthy performance in the medium to long term” Mr Mehra concluded with vote of thanks.

About Us
Tasty Dairy Specialities was founded by Mr AtulMehra - a first generation entrepreneur in 1992. Since then the Company has grown to become one of the leading player in the industry, handling manufacturing of milk and milk based products. Tasty Dairy started its operations with handling 200 litres of liquid milk per day and  today  the Company have processing facility of about 3.5 lakh liters of milk per day and giving direct and indirect employment to people in and around Kanpur.
Company is situated in Uttar Pradesh, which is one of the largest milk producer State in India. Company’s state of art ISO 22000:2005 certified manufacturing unit at D-3, UPSIDC Industrial Area, Jainpur, Kanpur Dehat, falls in the richest milk belt of Uttar Pradesh where the company produces a wide range of quality dairy products under its umbrella like Pasteurized Liquid Milk, Cream, Butter (White/Salted), Pure Desi Ghee (Clarified Butter), Paneer (Fresh Cottage Cheese), Skimmed Milk Powder, Instant Chhena Mix, Skim Milk Concentrate Dairy Whitener, Khoya, Peda (a pure Indian Sweet), Instant GulabJamun Mix, Mithai Powder etc., packed in various consumer packing from 200 ml to 25 kg and bulk packing under the company owned brand names “UJJWAL”, “SHIKHAR”, “VERIFRESH”, "CIMA" and "MITHAI MASTER" which are available in all major parts of India  through a distribution network of more than 20 distributors through which the Company serves a large number of retail outlets. Tasty Dairy with the existing plant and machinery is capable of handling approximately 5,00,000 litres of raw milk which comprises of 1,60,000 litres of milk packaging, 20,000 litres of buttermilk packaging, 2,20,000 Litres of Skimmed Milk Powder and Ghee and 2,00,000 litres of bulk milk processing. These facilities are not only in close proximity to our milk procurement region but also to our target market.

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