Dear Members,
Your directors have pleasure in presenting the 30th Directors' Report on the
business and operations of Alka Securities Limited (The Company) together with the Audited
Financial Statements of Accounts of the Company for the Financial Year ended 31st
March, 2025.
1. FINANCIAL RESULT:
(Amount in Lakhs)
Particulars |
F.Y. 2024-25 |
F.Y.2023-24 |
|
(In Lakhs) |
(In Lakhs) |
Revenue from Operations |
32.39 |
27.48 |
Other Income |
23.71 |
26.35 |
Total Income |
56.10 |
53.83 |
Total Expenditure |
55.00 |
52.18 |
Profit / (Loss) Before Tax |
1.10 |
1.65 |
Less: Current Tax/Provision for Tax |
0.28 |
0.43 |
Profit / (Loss)After Tax |
0.82 |
1.22 |
Earnings Per Share |
|
|
-Basic |
0.01 |
0.01 |
-Diluted |
0.01 |
0.01 |
2. PERFORMANCE HIGHLIGHTS:
During the year under review, the Company recorded a total operational income of ^32.39
Lakhs and achieved a net profit of ^1.10 Lakhs for the financial year ended March 31,
2025.
The Company remains focused on strengthening its position in the specialty segment,
with particular emphasis on the embroidery business. Strategic efforts in this area are
expected to yield positive results in the coming years. These initiatives are aligned with
our long-term vision and are expected to accelerate business momentum and contribute to
sustained growth in the future.
3. SHARE CAPITAL:
During the year under review, there was no change in the Company's issued, subscribed
and paid-up equity share capital.
As on March 31, 2025 the Authorized Share Capital of the Company stood at Rs.
20,00,00,000/- (Rupees Twenty Crores only) divided into 20,00,00,000 (Twenty Crores)
Equity Shares of Rs. 1 /- (Rupees One Only) each and issued, subscribed and paid-up share
capital of your Company stood at
23 Page
Rs. 9,59,40,000/- (Rupees Nine Crores Fifty Nine Lakhs Forty Thousand Only) divided
into 9,59,40,000 (Nine Crores Fifty Nine Lakhs Forty Thousand) Equity Share of Rs. 1 /-
(Rupees One) each.
4. DIVIDEND:
The Board of Directors of the Company has not recommended any dividend during the year
after reviewing Financial Statements of the Company.
5. RESERVE:
The Board of Directors has decided to retain the entire amount of profit in the profit
and loss account. Accordingly, the Company has not transferred any amount to the
'Reserves' for the year ended March 31, 2025.
6. DEPOSITS:
During the year under review, Company has not invited, accepted or renewed any deposit
from the public in terms of the provisions of Section 73 to 76 or any other relevant
provisions of the Companies Act, 2013 and the rules made there under. Accordingly, the
requirement to furnish details relating to deposits covered under Chapter V of the
Companies Act, 2013 does not arise.
7. CHANGE IN NATURE OF BUSINESS:
During the year under review, there was no significant changes was made in the nature
of the company.
8. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:
During the Year under review there were no material changes and commitments which
affect the financial position of the Company. An ease of doing business can give an add on
to the Company to create the sustainable growth and development.
9. SUBSIDIARY, ASSOCIATE AND JOINT VENTURE:
During the year under review, the Company does not have any Subsidiary, Associate and
Joint Venture.
10. SECRETARIAL STANDARDS:
The Directors state that applicable Secretarial Standards i.e. SS-1 and SS-2, relating
to ‘Meeting of the Board of Director' and ‘General Meetings', respectively, have
been duly followed by the Company.
11. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Following are the details of Directors and Key Managerial Personnel (KMP) of the
Company as on date of this Report:
DIN No./ ACS No. |
Name of the Director/KMP |
Designation |
Date of Appointment |
Date of Resignation |
09022218 |
Mr. Sagar Ashok Rane |
Independent Non- Executive Director |
30/09/2021 |
- |
00157790 |
Mr. Mahendra Pandey |
Managing Director |
19/05/2025 |
- |
10204543 |
Mr. Kanwar Nitin Singh |
Additional Independent NonExecutive Director |
19/05/2025 |
- |
10643307 |
Ms. Geetika Garg |
Additional Independent NonExecutive Director |
19/05/2025 |
- |
08776329 |
Mr. Amit Bajaj |
Additional Executive Director |
19/05/2025 |
- |
09372274 |
Ms.Sonal Anil Vichare |
Independent Non-Executive Director |
01/11/2021 |
19/05/2025 |
10427957 |
Mr. Rahul Lalit Kumar Sangani |
Additional Independent NonExecutive Director |
14/02/2024 |
19/05/2025 |
03385565 |
Mr. Abhay Gebilal Gandhi |
Additional Independent NonExecutive Director |
01/07/2023 |
21/09/2024 |
03059586 |
Mr. Upendra Ravidas |
Additional Executive Director |
07/11/2024 |
18/03/2025 |
09309402 |
Mr Jayesh Mehta |
Additional Independent NonExecutive Director |
07/11/2024 |
18/03/2025 |
03129309 |
Ms Bina Soti |
Additional Independent NonExecutive Director |
07/11/2024 |
18/03/2025 |
- |
Ms. Nishi Jayantilal Jain |
Company Secretary & Compliance Officer |
01/02/2022 |
- |
- |
Mr. Mahendra Pandey |
Whole Time Director & Chief Financial Officer |
21/09/2020 |
- |
CHANGE IN BOARD OF DIRECTORS DURING THE RELEVENT PERIOD:
i. Ms. Geetika Garg has been appointed as Additional Independent Women Director of the
Company dated on 19th May, 2025.
ii. Mr. Kanwar Nitin Singh has been appointed as Additional Independent Non -Executive
Director of the Company dated on 19th May, 2025.
iii. Mr. Amit Bajaj has been appointed as Additional Executive Director of the Company
dated on 19th May, 2025.
iv. Mr. Mahendra Pandey has been appointed as Managing Director of the Company dated on
19th May, 2025.
v. Ms. Sonal Anil Vichare Independent Director of the Company has been resigned from
the company dated on 19th May, 2025.
vi. Mr. Abhay Gebilal Gandhi Additional Independent Non-Executive Director of the
Company has been resigned from the company dated on 21st September, 2024.
vii. Mr. Rahul Lalit Kumar Sangani Additional Independent Non-Executive Director of the
Company has been resigned from the company dated on 19th May, 2025.
viii. Mr. Upendra Ravidas has been appointed as Additional Executive Director of the
Company dated on 07th November, 2024 and has been resigned from the company
dated on 18th March,2025.
ix. Mr. Jayesh Mehta has been appointed as Additional Independent Non-Executive
Director of the Company dated on 07th November, 2024 and has been resigned from
the company dated on 18th March,2025.
x. Ms. Bina Soti has been appointed as Additional Independent Non-Executive Director of
the Company dated on 07th November, 2024 and has been resigned from the company
dated on 18th March,2025.
CHANGE IN KEY MANAGERIAL PERSONNEL DURING THE RELEVENT PERIOD:
i. Ms. Nishi Jayantilal Jain Company Secretary and Compliance Officer of the company
has been changed her name from Ms. Nishi Jain due to updation of the name on the official
documents of the company dated on 19th July, 2025.
12. DIVERSITY OF THE BOARD:
The Company believes that diversity is important to the work culture at any
organization. In particular, a diverse Board, among others, will enhance the quality of
decisions by utilizing different skills, qualifications and professional experience for
achieving sustainable and balanced development.
All the Independent Directors of your Company have given declarations that they meet
criteria of Independence as prescribed both under the Act and Securities and Exchange of
Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015.
13. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:
The Board meets at regular intervals to discuss and take a view of the Company's
policies, strategy and other Board matters. The notice for Board Meetings is given well in
advance to all the Directors.
During the reporting period 6(Six) meetings of the Board of Directors were held. The
dates on which the said meetings were held:
• 30th May,2024
• 14th August,202 4
• 21th September,2024
• 14th Novemeber,2024
• 3rd December,2024
• 11th February,2025
The Details of Attendance of Each Director at the Board Meetings Are as Given Below:
Name of Director |
Date of Original |
Date of |
Number of Board |
Number of |
|
Appointment |
Cessation |
Meetings eligible to attend |
Board Meetings attended |
Mr. Sagar Ashok Rane |
30/09/2021 |
- |
6 |
6 |
Ms.Sonal Anil Vichare |
01/11/2021 |
19/05/2025 |
6 |
6 |
Mr. Rahul Lalit Kumar Sangani |
14/02/2024 |
19/05/2025 |
6 |
6 |
Mr. Abhay Gebilal Gandhi |
01/07/2023 |
21/09/2024 |
3 |
3 |
Mr. Upendra Ravidas |
07/11/2024 |
18/03/2025 |
3 |
3 |
Mr Jayesh Mehta |
07/11/2024 |
18/03/2025 |
3 |
3 |
Ms Bina Soti |
07/11/2024 |
18/03/2025 |
3 |
3 |
The intervening gap between any two Meetings was within the period prescribed under the
SEBI (LODR) Regulations, 2015 and Companies Act, 2013.
14. COMMITTEES OF BOARD's:
The Company has duly constituted and reconstituted the following statutory Committees
in terms of the provisions of the Act read with relevant rules framed thereunder during
the reporting period and up to the date of this report:
1. Audit Committee
2. Stakeholders Relationship Committee
3. Nomination and Remuneration Committee
• Audit Committee:
The Audit Committee of the Company is constituted/re-constituted in line with the
provisions of Section 177 of the Companies Act, 2013.The Audit Committee is constituted in
line to monitor and provide effective supervision of the management's financial reporting
process, to ensure accurate and timely disclosures, with the highest level of
transparency, integrity, and quality of Financial Reporting. The composition of Audit
Committee as on 31st March 2025.
Sr. No. |
Name of the Members |
Designation |
Nature of Directorship |
1. |
Sonal Anil Vichare |
Chairman |
Non-Executive Independent Director |
2. |
Sagar Ashok Rane |
Member |
Non-Executive Independent Director |
3. |
Lalit Kumar Sanghani |
Member |
Non-Executive Independent Director |
All the members of the Committee have accounting and financial management expertise.
The Company Secretary is the secretary to the committee.
The Audit Committee has been authorized to look after the following major functions:
i. To recommend for appointment, remuneration and terms of appointment of auditors of
the company;
ii. To review and monitor the auditor's independence and performance, and effectiveness
of audit process;
iii. T o examine the financial statement and the auditors' report thereon;
iv. T o approve or any subsequent modification of transactions of the company with
related parties;
v. To conduct scrutiny of inter-corporate loans and investments;
vi. T o evaluate undertakings or assets of the company, wherever it is necessary;
vii. To evaluate internal financial controls and risk management systems;
viii. To monitor the end use of funds raised through public offers and related matters.
ix. To call for the comments of the auditors about internal control systems, the scope
of audit, including the observations of the auditors and review of financial statement
before their submission to the Board and to discuss any related issues with the internal
and statutory auditors and the management of the company.
x. To investigate into any matter in relation to the items specified in or referred to
it by the Board and for this purpose shall have power to obtain professional advice from
external sources and have full access to information contained in the records of the
company.
The Audit Committee functions in accordance with the terms of reference specified by
the Board of Directors and ensures the integrity of the Company's financial reporting
process, compliance with legal and regulatory requirements, and the adequacy of internal
control systems.
During the year, all recommendations of the audit committee were approved by the Board
of Directors.
Meeting of Audit Committee
During the Financial Year under review 04 (four) meetings of the Members of Audit
Committee were held.
The dates on which the said meetings were held:
• 30th May, 2024
• 14th August, 2024
• 14th November, 2024
• 11th February,2025
• Nomination and Remuneration Committee:
The Nomination and Remuneration Committee of the Company is constituted/re-constituted
in line with the provisions of Section 178 of the Companies Act, 2013. The Nomination and
Remuneration Committee recommends the appointment of Directors and remuneration of such
Directors. The level and structure of appointment and remuneration of all Key Managerial
personnel and Senior Management Personnel of the Company, as per the Remuneration Policy,
is also overseen by this Committee.
The composition of Nomination and Remuneration Committee as on 31st March 2025.
Sr. No |
Name of the Members |
Designation |
Nature of Directorship |
1. |
Sonal Anil Vichare |
Chairman |
Non-Executive Independent Director |
2. |
Sagar Ashok Rane |
Member |
Non-Executive Independent Director |
The Committee has been authorized to look after following major functions:
1. To identify persons who are qualified to become directors and who may be appointed
in senior management in accordance with the criteria laid down, recommend to the Board
their appointment and removal and shall carry out evaluation of every director's
performance.
2. To formulate the criteria for determining qualifications, positive attributes and
independence of a director and recommend to the Board a policy, relating to the
remuneration for the directors, key managerial personnel and other employees.
3. To ensure that—
(a.) The level and composition of remuneration is reasonable and sufficient to attract,
retain and motivate directors of the quality required to run the company successfully;
(b) relationship of remuneration to performance is clear and meets appropriate
performance benchmarks; and
(c) remuneration to directors, key managerial personnel and senior management involves
a balance between fixed and incentive pay reflecting short and long-term performance
objectives appropriate to the working of the company and its goals.
(d) The policy so framed by the said Committee shall be disclosed in Board's Report to
shareholders. Meeting of Nomination and Remuneration Committee:
During the Financial Year under review 02(Two) meetings of the Members of Nomination
and Remuneration Committee were held.
The dates on which the said meetings were held:
• 21st September, 2024
• 07th November, 2024
• Stakeholders Relationship Committee:
The Company has a Stakeholder Relationship Committee of Directors in compliance with
provisions of the Companies Act, 2013 to look into the redressal of complaints of
investors such as transfer or credit of shares, non-receipt of dividend/notices /annual
reports, etc.
The composition of Stakeholder Relationship Committee as on 31st March 2025.
Sr. No. |
Name of the Members |
Designation |
Nature of directorship |
1. |
Sonal Anil Vichare |
Chairman |
Non-Executive Independent Director |
2. |
Sagar Ashok Rane |
Member |
Non-Executive Independent Director |
3. |
Lalit Kumar Sanghani |
Member |
Non-Executive Independent Director |
Meeting of Stakeholders Relationship Committee:
During the Financial Year under review 01 (One) meetings of the Members of Stakeholders
Relationship Committee were held.
The dates on which the said meetings were held:
• 20th January, 2024
SEPARATE MEETING OF INDEPENDENT DIRETORS:
Independent Directors of the Company held their Separate meeting under Regulation 25(3)
of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule
IV of Companies Act, 2013 on 11th February, 2025 at Registered office of the
Company at Maitri, Plot No. 10, Road No. 10, JVPD Scheme, Juhu, Mumbai, Maharashtra,
400049 to evaluate their performance.
15. MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT:
Management's Discussion and Analysis Report for the year under review, as stipulated
under the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, (“Listing Regulations”) is presented in a
separate section, forming part of the Annual Report as an Annexure-A under the board
report.
16. AUDITOR AND AUDITOR'S REPORT
> Statutory Auditors:
In terms of provisions of Section 139 of the Companies Act, 2013, M/S. PSV Jain &
Associates (Firm Registration No. 131505W) are the Statutory Auditors of the Company. They
were appointed as the Statutory Auditors of the Company in the 25 th Annual General
Meeting for a period of 5 years i.e. till the conclusion of 30th Annual General Meeting to
be held in the financial year 2025.
The reports of Statutory Auditors on Financial Statements for the FY 2024-25 forms part
of the Annual Report. There are no qualifications, reservations, adverse remarks,
disclaimer or emphasis of matter in the Auditors' Reports.
> Secretarial Auditors:
In terms of the provision of the Section 204 of the Act read with Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, Mr Ankit Singhal M/s.
Ankit Singhal & Associates, Company Secretaries in practice holding Membership
No.41744 and COP No.21720, are the Secretarial Auditors of the Company pursuant to the
provisions of Section 204 of the Companies Act, 2013.
The Report of the Secretarial Auditors (Form MR-3) for Financial Year ended on 31st
March, 2025 is being annexed to the Report as per Annexure-B under the board report.
> Internal Auditors:
M/s Vyom Advisors was appointed as Internal Auditor of the Company for the financial
year 2024-2025 on August 14th, 2025 pursuant to the provisions of Section 138 of the
Companies Act, 2013 read with the Rule 13 of the Companies (Accounts) Rules, 2014.
The Report of the Internal Auditors is reviewed by the Audit Committee.
17. DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the provisions contained in Section 134 (5) of the Companies Act, 2013,
Your Directors, confirm that:
i) In the preparation of the annual accounts for the financial year ended on March 31,
2024 the
applicable Indian Accounting Standards have been followed and there are no material
departures from the same;
ii) The selected accounting policies were applied consistently and the Directors made
judgments and estimates that are reasonable and prudent so as to give a true and fair view
of the state of affairs of the Company as at March 31, 2024 and of the profit of the
Company for that period.
iii) Proper and sufficient care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
iv) The annual accounts have been prepared on a 'going concern' basis.
v) The Internal financial controls have been laid by the Directors to be followed by
the Company and such financial controls are adequate and were operating effectively.
vi) Proper systems had been devised in compliance with the provision of the
all-applicable laws and such systems were adequate and operating effectively.
18. EXTRACT OF ANNUAL RETURN:
In accordance with the provisions of Companies (Amendment) Act, 2017, read with Section
134(3) of the Companies Act, 2013, the Annual Return, as on March 31, 2025 under Section
92 (3) of the Companies Act, 2013, is hosted on the website of the Company at
www.aslventure.com.
19. CORPORATE SOCIAL RESPONSIBILITY (CSR):
As per section 135 of the companies Act 2013 Corporate Social Responsibility are not
applicable for our company
In pursuance of the Companies Act, 2013 and the Companies (Corporate Social
Responsibility) Rules, 2014, the above rules are not applicable to the company during the
year as the company has not earned the adequate profit in this financial Year 2024-25.
20. PARTICULARS OF LOANS AND GUARANTEES AND INVESTMENTS:
Details of Loans, Guarantees and Investments cover under the Provisions of Section 186
of the Companies Act, 2013 are given in the accompanying Financial Statements.
21. CORPORATE GOVERNANCE:
Provisions of Para C, D and E of Schedule V of the SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015 are not applicable to the Company. Hence,
report on Corporate
Governance is not annexed.
22. BOARD EVALUATION:
The Board of Directors has carried out an annual evaluation of its own performance,
Board committees and individual directors pursuant to the provisions of the Act and the
corporate governance requirements as prescribed by Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations 2015 ("SEBI Listing
Regulations”).
The performance of the Board was evaluated by the Board after seeking inputs from all
the directors on the basis of the criteria such as the board composition and structure,
effectiveness of board processes, information and functioning, etc.
The performance of the committees was evaluated by the Board after seeking inputs from
the committee members on the basis of the criteria such as the composition of committees,
effectiveness of committee meetings, etc.
The Board and the Nomination and Remuneration Committee reviewed the performance of the
individual directors on the basis of the criteria such as the contribution of the
individual Director to the Board and Committee meetings like preparedness on the issues to
be discussed, meaningful and constructive contribution and inputs in meetings, etc. In
addition, the chairman was also evaluated on the key aspects of his role.
In a separate meeting of independent directors, performance of non-independent
directors, performance of the board as a whole and performance of the chairman was
evaluated, taking into account the views of executive directors and non-executive
directors. The same was discussed in the board meeting that followed the meeting of the
independent directors, at which the performance of the board, its committees and
individual directors was also discussed. Performance evaluation of independent directors
was done by the entire board, excluding the independent director being evaluated.
The Board evaluated the performance of Independent Directors and Individual Directors
considering various parameters such as their familiarity with the Company's vision,
policies, values, code of conduct, their attendance at Board and Committee Meetings,
whether they
participate in the meetings constructively by providing inputs and provide suggestions
to the Management/Board in areas of domain expertise, whether they seek clarifications by
raising appropriate issues on the presentations made by the Management/reports placed
before the Board, practice confidentiality, etc. It was observed that the Directors
discharged their responsibilities in an effective manner. The Directors possess integrity,
expertise and experience in their respective fields.
23. INDEPENDENT DIRECTORS' DECLARATION
Independent Directors have submitted their disclosures to the Board that they fulfill
all the requirements as stipulated in section 149(6) of the Companies Act,2013 so as to
qualify themselves to be appointed as Independent Directors under the provisions of the
Companies Act,2013 and the relevant Rules.
These declarations confirm that they are independent of the management and possess the
requisite integrity, expertise, and experience to serve on the Board as Independent
Directors. The Board of Directors
places on record its deep appreciation for the valuable contributions made by the
Independent Directors in guiding the Company towards sustained growth and governance
excellence.
24. DISCLOSURE ON THE NOMINATION AND REMUNERATION POLICY OF THE COMPANY PURSUANT TO
SECTION 134f3)fe) AND SECTION 17813!
The Company's Policy on Director's appointment and remuneration including criteria for
determining qualifications, positive attributes, independence of a Director and other
matters as provided under Section 178(3) of the Companies Act, 2013 can be accessed on the
Company's website at www.aslventure.com
• The Objective of the Policy is to ensure that the level and composition of
remuneration is reasonable and sufficient to attract, retain and motivate Directors of the
quality required to run the Company successfully.
• Relationship of remuneration to performance is clear and meets appropriate
performance benchmarks and
• Remuneration to Directors, Key Managerial Personnel and Senior Management
involves a balance between fixed and incentive pay reflecting short- and long-term
performance objectives appropriate to the working of the Company and its goals.
25. POLICIES
Company has the following policies:
• Policy on Preservation of Documents and Archives Management as per Regulation 9
and 30(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Policy for Disclosure of events/ information and Determination of materiality as
per Regulation 30(4)(ii) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
• Policy on Materiality of Related Party Transactions as per Regulation 23(1) of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• Policy for determining material subsidiary as per SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
26. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATEDPARTIES:
During the year, there is no transaction entered with related parties referred to in
Section 188(1) of the Companies Act, 2013 read with Rule 8(2) of Companies (Accounts)
Rules, 2014. Therefore, there is no requirement to attached Form AOC-2 in Annexure 'II'
Related party transactions if any, are disclosed in the notes to financial statements.
27. NO FRAUDS REPORTED BY STATUTORY AUDITORS
During the Financial Year 2024-25, the Auditors have not reported any matter under
section 143(12) of the Companies Act, 2013, therefore no detail is required to be
disclosed under section 134(3) (ca) of
the Companies Act, 2013.
28. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to Section 177(9) and (10) of the Companies Act, 2013, and Regulation 22 of
the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, the Company has
formulated Whistle Blower Policy for vigil mechanism of Directors and employees to report
to the management about the unethical behavior, fraud or violation of Company's code of
conduct. The mechanism provides for adequate safeguards against victimization of employees
and Directors who use such mechanism and makes provision for direct access to the chairman
of the Audit Committee in exceptional cases.
29. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:
During the period under review no material orders have been passed by the regulators or
courts or tribunals impacting the going concern status and company's operations in future.
30. CODE OF CONDUCT:
Commitment to ethical professional conduct is a must for every employee, including
Board Members and Senior Management Personnel of the Company. The Code is intended to
serve as a basis for ethical decision-making in conduct of professional work. The Code of
Conduct enjoins that each individual in the organization must know and respect existing
laws, accept and provide appropriate professional views, and be upright in his conduct and
observe corporate discipline. The duties of Directors including duties as an Independent
Director as laid down in the Companies Act, 2013 also forms part of the Code of Conduct.
All Board Members and Senior Management Personnel affirm compliance with the Code of
Conduct annually.
31. INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT. 2013:
The Company has zero tolerance towards sexual harassment at the workplace and towards
this end, has adopted a policy in line with the provisions of Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under.
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 which redresses complaints received on sexual
harassment. During the financial year under review, the Company has not received any
complaints of sexual harassment from any of the women employees of the Company.
32. DETAILS OF APPLICATION MADE OR ANY PROCEEDINGS PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE. 2016 DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE
FINANCIAL YEAR:
During the reporting period, no application made or any proceeding is pending under the
Insolvency
and Bankruptcy Code, 2016 (31 of 2016).
33. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
During the reporting period the Company established a fully integrated, modern, and
fully automatic manufacturing unit but production yet to be commenced, Thus, the
provisions related to conservation of energy and technology absorption are not applicable
on the Company. However, Company makes all effort and committed to adopting best practices
towards conservation of energy, protection of environment and ensuring safety.
34. RISK MANAGEMENT POLICY:
The Board of Directors of the Company are of the view that currently no significant
risk factors are present which may threaten the existence of the company. During the year,
your director's have an adequate risk management infrastructure in place capable of
addressing those risks. The company manages monitors and reports on the principal risks
and uncertainties that can impact its ability to achieve its strategic objectives. The
Audit Committee and Board of Directors review these procedures
periodically. The company's management systems, organizational structures, processes,
standards, code of conduct and behavior together form a complete and effective Risk
Management System (RMS).
35. PREVENTION OF INSIDER TRADING:
The Company has a Code of Conduct for Prevention of Insider Trading with a view to
regulate trading in securities by the Directors and certain designated employees of the
Company. The Code requires preclearance for dealing in the Company's shares and prohibits
the purchase or sale of Company shares by the Directors and designated employees while in
possession of unpublished price sensitive information in relation to the Company and
during the period when the trading window is closed. The Board is responsible for
implementation of the Code. All Board Directors and the designated employees have
confirmed compliance with the Code.
36. DISCLOSURE OF RELATIONSHIP BETWEEN DIRECTOR INTER -SE:
None of the Directors are related to each other.
37. COMPLIANCE WITH SECRETARIAL STANDARDS:
Your Company complies with the Secretarial Standard on Meetings of Directors (SS-1) and
Secretarial Standard on General Meetings (SS-2) whenever it has applicable. Your Company
will comply with the other Secretarial Standards issued by the Institute of Company
Secretaries of India (ICSI) as and when they are made mandatory.
38. CAUTIONARY NOTE:
The statements forming part of the Board's Report may contain certain forward-looking
remarks within the meaning of applicable securities laws and regulations. Many factors
could cause the actual results, performances or achievements of the Company to be
materially different from any future results,
performances or achievements that may be expressed or implied by such forward looking
statements.
39. STATEMENT ON OTHER COMPLIANCES:
Your director's state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items During the reporting period:
(a.) Details relating to deposits covered under Chapter V of the Act.
(b.) Issue of equity shares with differential voting rights as to dividend, voting or
otherwise;
(c.) Issue of shares (including sweat equity shares) to employees of the Company.
40. WEBSITE OF THE COMPANY:
Your Company maintains a website www.aslventure.com where detailed information of the
Company and specified details in terms of the Companies Act, 2013 and SEBI (Listing
Obligations & Disclosure Requirements) Regulations, 2015 have been provided.
ACKNOWLEDGEMENT:
The Directors regret the loss of life are deeply grateful and have immense respect for
every person. The Directors wish to convey their appreciation to all of the Company's
employees for their contribution towards the Company's performance. The Directors would
also like to thank the shareholders, employee unions, customers, dealers, suppliers,
bankers, governments and all other business associates for their continuous support to the
Company and their confidence in its management.
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For Alka Securities Limited |
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Sd/- |
Sd/ |
Date:04.09.2025 |
Sagar Ashok Rane |
Mahendra Pandey |
Place: Mumbai |
Director |
Managing Director |
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DIN:09022218 |
DIN:00157790 |
In compliance of Regulation 34(3) and 54(f) read with Schedule V of Securities Exchange
Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, please
find Management Discussion and Analysis Report forming part of Annual Report
INDUSTRY SCENARIO
The Indian capital markets witnessed steady growth in FY 2024-25, supported by
continued investor participation, resilient macroeconomic fundamentals, and an expanding
retail investor base. Regulatory reforms initiated by SEBI, enhanced digital adoption, and
the deepening of capital markets have contributed to greater transparency and investor
confidence.
The stock broking industry saw rising participation through digital platforms,
particularly from Tier II and Tier III cities, driven by mobile trading apps and
simplified KYC processes. While volatility in global markets and monetary policy
uncertainty created intermittent headwinds, India remained one of the most attractive
equity markets globally during the fiscal.
The financial consultancy segment, comprising investment advisory, wealth management,
and corporate advisory services, has also grown in relevance. Businesses and
high-net-worth individuals are increasingly seeking structured financial guidance amidst
dynamic regulatory frameworks and evolving investment instruments.
Alka Securities Limited, with its longstanding presence in the Indian capital markets,
continues to build on its core competencies in broking and consultancy services, offering
personalized, tech-enabled, and compliant financial solutions to its growing clientele.
FUTURE OUTLOOK
The Company remains optimistic about the future of the Indian financial services
sector. With increasing retail participation, improved financial literacy, and a growing
appetite for wealth creation through capital markets, the demand for professional broking
and advisory services is expected to remain strong.
Going forward, the Company aims to:
1. Enhance Digital Capabilities
Investing in robust trading platforms and AI-enabled advisory tools to deliver an
intuitive and secure customer experience.
2. Expand Consultancy Services
Scaling corporate advisory, investment planning, and wealth management verticals,
catering to SMEs, start-ups, and individual investors.
3. Client Base Diversification
Targeting under-served segments through financial literacy campaigns and partnership
models with fintech and ecosystem players.
4. Strengthen Compliance & Governance
Adopting best-in-class practices in risk management, data security, and regulatory
reporting in line with SEBI guidelines.
5. Invest in Talent Development
Recruiting and nurturing professionals with expertise in capital markets, research, and
financial planning to enhance service quality.
The Company believes that its strategic roadmap, technology-first approach, and
client-centric model
will drive sustainable growth and long-term stakeholder value.
OPPORTUNITIES. THREATS, RISKS & CONCERNS
Opportunities:
• Growing Retail Participation: Increasing penetration of equity investments in
households, supported by digital access and financial inclusion.
• Digital Transformation: Emergence of AI, analytics, and robo-advisory is opening
new avenues for tech-enabled investment services.
• Regulatory Push for Transparency: Strengthening of compliance frameworks
enhances trust and creates a level playing field.
• Diversification into Advisory Services: Expanding demand for structured
financial advice from individuals and corporates
Threats:
• Market Volatility: Geopolitical tensions, inflationary pressures, and global
monetary shifts can impact investor sentiment.
• Competitive Pressure: Intense competition from discount brokers, fintech
start-ups, and traditional players could impact margins.
• Cybersecurity Risks: Increasing reliance on digital systems heightens
vulnerability to data breaches and technical disruptions.
• Regulatory Complexity: Frequent changes in SEBI guidelines, taxation norms, and
compliance requirements pose operational challenges.
Risk & Concern:
• Revenue Concentration Risk: Over-reliance on transaction-based income may affect
earnings in low-volatility periods.
• Compliance Risk: Non-adherence to evolving regulatory requirements can lead to
reputational and financial penalties.
• Operational Risk: System downtime, trade execution errors, or back-office
inefficiencies may impact service delivery and client trust.
• Human Capital Risk: Retention of skilled professionals in a competitive industry
remains a key challenge.
The Company continues to address these concerns through robust internal controls,
diversified revenue models, proactive compliance monitoring, and continual process
upgrades.
HUMAN RESOURCE DEVELOPMENT / INDUSTRIAL RELATIONS
The Company recognizes that a committed and skilled workforce is central to sustaining
leadership in the financial services sector. The HR function remains focused on
attracting, retaining, and developing talent with relevant expertise in broking,
compliance, research, and advisory services. Key initiatives during the year included:
• Structured training and certification programs in SEBI regulations, investment
analysis, and client advisory.
• Introduction of performance-linked appraisal systems and professional
development plans.
• Emphasis on digital upskilling to adapt to evolving technology platforms and
client engagement models.
• Reinforcement of workplace ethics, compliance culture, and employee well-being.
Industrial relations remained cordial throughout the year, and the Company continued to
maintain a collaborative and performance-oriented work environment.
APPRECIATIONS AND ACKNOWLEDGEMENTS
The Board of Directors places on record its sincere appreciation to all employees of
the Company for their dedication, adaptability, and commitment to professional excellence.
Their efforts have been instrumental in delivering consistent service quality and
operational resilience in a highly competitive market.
The Board also acknowledges with gratitude the continued trust and support extended by
clients, business partners, shareholders, and regulators. The cooperation received from
SEBI, stock exchanges, depositories, auditors, and banking partners has been invaluable in
ensuring effective governance and smooth operations.
With a strong leadership team, sound business strategy, and unwavering focus on
customer-centricity and compliance, Alka Securities Limited remains committed to
delivering sustainable shareholder value and contributing to the inclusive growth of
India's capital markets.
For Alka Securities Limited
Sd/- Sd/
Date: 04.09.2025 Sagar Ashok Rane Mahendra Pandey
Place: Mumbai Director Managing Director
DIN: 09022218 DIN:00157790
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