The reporting period is marked by the robust performance of Share India, resulting in
consistent value delivery to our stakeholders.
Dear Shareholders,
We have registered yet another successful year in FY 2023-24. The reporting period is
marked by the robust performance of Share India, resulting in consistent value delivery to
our stakeholders. As Chairman and a distinguished Board member, it is my great pleasure to
present the FY 2023-24 Annual Report of Share India Securities Limited and share our
strong performance and strategic advancements.
THE YEAR GONE BY
In CY 2024, the global economy demonstrated resilience, achieving a growth figure of
3.2%, a trend expected to continue in CY 2025. In contrast, the Indian economy surpassed
global trends, positioning itself as the fifth-largest economy in the world. According to
NSO data, GDP growth is estimated to reach 8.2% in FY 2023-24, up from 7.0% the previous
year. This robust growth is driven by strong domestic demand, increased investment,
moderate inflation, and a stable interest rate environment. Despite concerns over volatile
food prices, the Reserve Bank of India maintained the repo rate at 6.50%. With an
optimistic forecast of 7.2% GDP growth for FY 2024-25, India's economic ascent is set to
continue, propelled by strong public investment, private capex, and rising private
consumption.
The Indian share market followed a similar growth trend in FY 2023-24. According
to the Economic Survey 2023-24, Indian capital markets have been among the best-performing
in emerging markets, despite heightened geopolitical risks, rising interest rates, and
volatile commodity prices. Capital markets are becoming more prominent in India's growth
story, bolstered by technology, innovation, and digitization. The BSE benchmark Sensex
surged around 25% during the reporting period, a trend likely to continue in FY 2024-25.
This exemplary performance, driven by India's resilience to global shocks and a stable
domestic macroeconomic outlook, is crucial for boosting investor confidence and driving
future growth. These trends will act as catalysts for us to drive business growth and
achieve our long-term vision.
OUR PERFORMANCE SO FAR
Assessing our performance for FY 2023-24, we have achieved our best-ever results in
terms of revenue and profit after tax. Over the past five years, our performance has
consistently improved. During this period, our revenue grew by 36% year-on-year, reaching
1,483 crore, while our PAT soared by 29% to 426 crore. These remarkable achievements
underscore our commitment to excellence and the resilience of our business model amidst
evolving market dynamics. Our dedication to expanding our client base has yielded
significant results, with our broking clients growing by 22% year-on-year, totaling 35,380
clients in FY 2023-24. In recognition of our strong performance and commitment to
shareholder value, the Board has declared Final Dividend of 1/- (of face value of
10/-) bringing Total Dividend of 9/- each (of face value of 10/-) for the fiscal year,
with a stock split in the ratio of 1:5. Looking ahead, we remain committed to pursuing
excellence, fostering innovation, and delivering sustainable value for all our
stakeholders.
OUR FUTURE ORIENTATION
Our future orientation is firmly anchored in our aspiration to be the ‘go-to'
fintech company for every Indian. We are driven by a sense of purpose and urgency to
remain true to our core DNA of differentiation and trust, building a business model
recognized for its promise and potential. Our vision is to provide unparalleled financial
services that cater to the evolving needs of our customers, ensuring we remain at the
forefront of innovation in the fintech industry.
We have designed our digital universe to complement our physical infrastructure,
creating a seamless experience between the two ecosystems. This integrated approach drives
our efficiency while enhancing the overall customer experience. Our commitment to
innovation and cutting-edge technology has enabled us to pioneer financial solutions,
ushering in an era of convenience and empowerment for our customers.
Our vision is to provide unparalleled financial services that cater to the evolving
needs of our customers, ensuring we remain at the forefront of innovation in the fintech
industry.
As we stand at the threshold of the next phase of our transformational growth journey,
we are guided by our Group purpose: to enrich lives by building dynamic and responsible
businesses and institutions that inspire trust. This purpose serves as our beacon,
influencing every business decision we make. We are dedicated to continuing our legacy of
excellence, ensuring that our stakeholders can confidently look to the future with
optimism and trust in Share India's commitment to their financial well-being.
GRATITUDE
The success of Share India is realized through the trust of our stakeholders. With
their continuous support in each of our endeavors, we will continue to create value for
them. To this extent, I would like to take a moment to extend my heartfelt gratitude to
all our people at Share India for their commitment to our goals and the pursuit of
excellence. Together, let us continue to create a legacy of excellence and chart a path
towards a prosperous future.
Thank you for being a part of our journey.
With best regards,
Parveen Gupta
Chairman & Managing Director