Dear Shareholders,
FY2023 has been yet another year of strong growth for Share India. As
the Chairman of the distinguished Board of Share India, it is my utmost privilege to
address all of you as I reflect upon the remarkable journey this far.
THE YEAR GONE BY
Despite the global twin headwinds of inflation and softening demand,
India has remained strong with its GDP for FY2023 surpassed expectations. With a robust
figure of 7.2% growth for the year, it has retained its position as the world's
fastest-growing major economy, according to the World Bank.
Meanwhile, the Indian stock market was haunted by global inflation
concerns and uncertainties in the international banking sector, as well as the impact of
the on-going war between Russia and Ukraine on oil prices. In addition, the COVID-19
lockdown in China aggravated the supply chain constraints globally, impacting economic
activities in some sectors. In response to the record inflation levels, central banks
across the globe, including RBI, hiked interest rates, raising concerns that the US and
other major economies were headed for a recession. This, in turn, has darkened the outlook
for global growth as it could have a spillover effect on the Indian economy and other
parts of the world.
As a result of all the global turmoil, the Indian stock market
witnessed considerable volatility. After putting up a poor performance in the first half
of FY 2022-23, it gained momentum in the second half. Nevertheless, some categories like
mutual funds – like value and contra funds - did well compared to more mainstream
funds.
During all the market volatility, investors – even the relatively
‘new to investing' category – appear to have matured. While the growth in
demat accounts did not increase as rapidly as it did in the previous years, they did prove
their ability to keep the market buoyant and enable it to recover.
SHARE INDIA'S PERFORMANCE
Amidst the challenging landscape of the Indian stock market and the
financial sector at large, we have not only weathered the storm but also achieved
remarkable milestones. We are proud to announce that Share India has recorded its highest
ever annual Profit After Tax (PAT) of
Rs. 3,306 million. Furthermore, we have achieved a significant
milestone with our first-ever quarterly PAT surpassing
Rs. 1 billion, reaching Rs. 1,069 million in Q4FY2023. These
outstanding results are a testament to our unwavering commitment to excellence and the
dedication of our talented team. With a stable margin profile and a PAT margin of
approximately 30%, we continue to demonstrate our resilience and ability to deliver strong
financial performance.
Share India has come a long way from its early days as a broking house
to becoming a full-_edged player in the financial industry. We recognize the immense value
of our tech talents and their potential to shape the future of trading in the Indian
markets. With rising volumes and growing confidence, we are well-positioned to expand our
presence in the retail segment, aiming to democratize the power of Algo Trading and
establish ourselves as the preferred fintech player in India.
LOOKING AHEAD
As we stride forward, our vision is clear – to revolutionize the
user experience and drive technological innovation in the rapidly expanding retail segment
of the Indian financial ecosystem. Our goal is to make cutting-edge technology accessible
to all, enhancing the trading experience and setting new benchmarks in the industry.
From the very beginning, we have embraced the challenges of a
competitive and technology-driven industry, successfully transforming ourselves into a
profitable tech-enabled company. Today, with our talented team of engineers, who play a
vital role in driving our success, we take pride in being recognized among the top 10
industry volume providers in the F&O segment.
Over the years, we have nurtured a vibrant and dynamic community, one
that thrives on innovation, resilience, and a shared vision for success. Together, we have
overcome challenges, embraced opportunities, and charted a path that has transformed Share
India into a beacon of excellence in the financial industry.
THANK YOU TO STAKEHOLDERS
As the Chairman, I am honored to witness first-hand the unwavering
dedication and passion that permeates every aspect of Share India.
Our success is not just defined by numbers and financial achievements,
but by the positive impact we create in the lives of our clients, employees, and
stakeholders. We take pride in the trust bestowed upon us and remain committed to
upholding the highest standards of professionalism, transparency, and ethical conduct.
I would like to express my heartfelt gratitude to our shareholders,
employees, and clients for their unwavering support and trust in Share India. It is your
belief in our capabilities that fuels our determination to reach new heights and exceed
expectations. Together, let us continue to create a legacy of excellence and chart a path
towards a prosperous future.
With best wishes,
Parveen Gupta
Chairman & Managing Director