Your Directors are pleased to present the thirty-first Annual Report of
the Company together with the Audited Financial Statements for the financial year ended
March 31, 2025. The consolidated performance of the Company and its subsidiaries has been
referred to wherever required.
FINANCIAL HIGHLIGHTS
A summary of the Consolidated and Standalone financial performance of
your Company, for the financial year ended March 31,2025, is as under:
(Rs. in Lakhs)
| Particulars |
Standalone |
Consolidated |
|
Financial Year 2024-25 |
Financial Year 2023-24 |
Financial Year 2024-25 |
Financial Year 2023-24 |
| Revenue from Operations |
11128.41 |
9617.96 |
11213.95 |
9735.06 |
| Other Income |
529.41 |
109.88 |
531.43 |
109.10 |
| Total Revenue |
11657.82 |
9727.84 |
11745.38 |
9844.16 |
| Profit before Tax |
1805.32 |
1323.71 |
1820.97 |
1339.48 |
| Less: Tax expense |
484.83 |
373.78 |
500.26 |
389.28 |
| Profit after Tax |
1320.49 |
949.92 |
1320.71 |
950.20 |
| Other Comprehensive loss for the year |
(25.81) |
59.18 |
(25.81) |
59.18 |
| Total Comprehensive Income for the year |
1294.68 |
1009.10 |
1294.90 |
1009.38 |
| Earnings per share on equity shares of Rs. 2 each |
|
|
|
|
| - Basic (in Rs.) |
1.61 |
1.19 |
1.61 |
1.19 |
| - Diluted (in Rs.) |
1.60 |
1.19 |
1.60 |
1.19 |
STATE OF THE COMPANY'S AFFAIRS
On a consolidated basis, the Revenue from operation for Financial Year
2024-25 was Rs. 11213.95 Lakhs, higher by 15.19% percent over the previous year's revenue
of Rs. 9735.06 Lakhs. The profit after tax (PAT) attributable to shareholders for
Financial Year 2024-25 and Financial Year 2023-24 was Rs. 1320.71 Lakhs and Rs. 950.20
Lakhs, respectively.
On a standalone basis, the revenue from operation for Financial Year
2024-25 was Rs. 11128.41 Lakhs, higher by 15.68% percent over the previous year's revenue
of Rs. 9617.96 Lakhs. The profit after tax (PAT) attributable to shareholders for
Financial Year 2024-25 and Financial Year 2023-24 was Rs. 1320.49 Lakhs and Rs. 949.92
Lakhs, respectively.
DIVIDEND
Your Directors are pleased to recommend a Dividend of Rs. 0.30/- (15%)
per equity share of Rs. 2/- each for the financial year 2024-25, which is subject to
consideration and approval of the Shareholders at the 31st Annual General
Meeting of the Company, and shall be paid within the statutory period to those members
whose names appear in the Register of Members as on the cut off date.
The total outflow on account of the proposed dividend shall amount to
Rs. 245.84 Lakhs.
RESERVES
There is no amount proposed to be transferred to Reserves out of
profits of the financial year 2024-25.
EMPLOYEES STOCK OPTIONS PLAN
The Members of the Company had passed the resolutions at its Annual
General Meeting held on May 24, 2017 and approved the LKP Securities Limited's Employees'
Stock Option Scheme 2017 ("LKPS ESOP - 2017") and also approved to offer,
issue and allot at any time or to acquire by way of secondary acquisition, to or for the
benefit of eligible employees under LKPS ESOP - 2017, not exceeding 50,00,000 Equity
Shares of Rs. 2 each, in one or more tranches, at such price and on such terms and
conditions as may be fixed or determined by the Nomination and Remuneration Committee. The
Members of the Company had verified, modified and amended LKPS ESOP - 2017 by way of
postal ballot dated October 16, 2020, the result of which was declared on November 27,
2020 and, subsequently the Company has granted 4,67,000 stock options on February 03, 2021
and 11,75,580 stock options on October 21, 2021 to its employees under the modified LKPS
ESOP - 2017. The scheme was further verified, modified and amended by the shareholders at
its Annual General Meeting held on June 20, 2022, subsequently the Company has granted
3,50,000 stock options on July 27, 2022 and 1,50,000 stock options on October 31,2023
under the modified scheme.
The Members of the Company at its Annual General Meeting held on July
05, 2019 had approved the LKP Securities Limited's Employees' Stock Option Scheme 2019
("LKPS ESOP - 2019") and also approved to offer, issue and allot at any
time, to or
for the benefit of eligible employees including the employees of its
subsidiaries under LKPS ESOP - 2019, not exceeding
35,00,000 Equity Shares of Rs. 2 each, in one or more tranches, at such
price and on such terms and conditions as may be fixed or determined by the Nomination and
Remuneration Committee. The Company has granted 8,28,000 stock options on April 23, 2024
under the modified scheme.
Pursuant to the applicable provisions of the Companies Act, 2013
("the Act") and Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021 ("SBEB Regulations"),
the scheme is administered by the Nomination and Remuneration Committee of the Company.
The Company has received a certificate from the M/s. MGB & Co. LLP,
Chartered Accountants, that the Scheme has been implemented in accordance with the SBEB
Regulations and the resolutions passed by the Members.
During year under review, the Company has allotted 2,77,500 equity
shares of Rs. 2/- each pursuant to exercise of stock options under the LKP Securities
Limited's Employees' Stock Option Scheme 2017.
The applicable disclosures as stipulated under SBEB Regulations as on
March 31,2025 with regard to the LKPS ESOP - 2017 are provided in Annexure - I to
this Report.
DEBT SECURITIES
The Company has offered and allotted total of 1355 unrated, unlisted,
secured, redeemable, taxable, transferable, nonconvertible debentures (NCD) of face value
of Rs. 1,00,000/- per debenture out of which 540 NCDs were issued and allotted during the
year under review. IDBI Trusteeship Services Limited is the Debenture Trustee for same.
The proceeds generated from the issue of NCDs are been utilized for the purpose for which
they were raised.
SHARE CAPITAL
The Authorised equity share capital of the Company as on March 31, 2025
was Rs. 35,00,00,000/- consisting of 17,50,00,000 Equity Shares of Rs.2/- each. There was
no change in the Authorised share capital of the Company. The paid up equity share capital
of the Company as on March 31, 2025 was Rs. 16,38,98,058/- consisting of 8,19,49,029
Equity Shares of Rs.2/- each.
During the year under review, the Company has made following allotments
during Financial Year 2024-25 -
| Sr No |
Date |
No. of shares |
Remarks |
| 1. |
22-07-2024 |
1,52,500 |
Fresh allotment of fully paid-up equity shares was made to an
employees under LKPS Employee Stock Option Scheme - 2017 (LKPS ESOP - 2017) |
| 2. |
16-08-2024 |
1,25,000 |
Fresh allotment of fully paid-up equity shares was made to an
employees under LKPS Employee Stock Option Scheme - 2017 (LKPS ESOP - 2017) |
SUBSIDIARIES, ASSOCIATE AND JOINT VENTURES
As on March 31, 2025 the Company has 3 subsidiaries viz: of LKP Wealth
Advisory Limited, LKP IFSC Private Limited and Wise Tech Platforms Private Limited. During
the year under review, the Board has reviewed the affairs of its subsidiaries.
LKP Wealth Advisory Limited has income from operations amounting to Rs.
137.04 Lakhs and its net profit stood at Rs. 53.31 Lakhs. There has been no material
change in the nature of the business of the subsidiary.
With a view to offer diversified products, your Company intends to
offer an option to its customers for trading in US stocks under its subsidiary 'LKP IFSC
Private Limited'. LKP IFSC Private Limited has income from operations amounting to Rs.
4.45 Lakhs and its net loss stood at Rs. 52.71 Lakhs. There has been no material change in
the nature of the business of the subsidiary.
During the year under review, the Company acquired 5,000 equity shares
of Rs. 10/- each of Wise Tech Platforms Private Limited at rate of Rs. 10/- per share from
Mr. Pratik Doshi, Managing Director of the Company and post the acquisition it became
wholly owned subsidiary of the Company. Wise Tech Platforms Private Limited is yet to
start its business and generate income from operations.
Pursuant to the provisions of Section 129(3) of the Act, a statement
containing salient features of the financial statements of the subsidiaries as on March
31, 2025 in the prescribed Form AOC-1 is attached to the financial statements as Annexure
- II, which forms part of this Annual Report.
As on March 31, 2025, there are no joint venture companies / associates
of the Company .
CONSOLIDATED FINANCIAL STATEMENTS
The Consolidated Financial Statements of the Company prepared in
accordance with the Act and applicable Indian Accounting Standards along with the relevant
documents and Auditors' Report is also presented to you and form part of this Annual
Report.
In accordance with the provisions of Section 136(1) of the Act, the
Annual Report of the Company containing therein the audited standalone and consolidated
financial statements and the audited financial statement of the subsidiary will be
available for inspection to any member of the Company and has been placed on the website
of the Company at www.lkpsec.com.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
Details of loans granted, guarantee provided and investment made by the
Company which are covered under the provisions of Section 186 of the Act, is provided in
Notes forming part of Financial Statements and hence not repeated here.
MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis in accordance with Regulation 34
read with Schedule V of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
forms part of this Annual Report as Annexure - III.
CORPORATE GOVERNANCE
Pursuant to the SEBI Listing Regulations, Company's Corporate
Governance Report forms part of this Annual Report along with the reports on Management
Discussion and Analysis and General Shareholder Information.
Further all the Board members and Senior Management personnel have
affirmed compliance with the Code of Conduct for the financial year 2024-25. A declaration
to this effect signed by the Managing Director of the Company also forms part of this
Annual Report.
A Certificate from Practicing Company Secretary regarding the
compliance with the conditions of Corporate Governance as stipulated under Regulation 34
read with Schedule V of the SEBI Listing Regulations is annexed to this Report as Annexure
- IV.
DIRECTORS AND KEY MANAGERIAL PERSONNEL(S)
In terms of Section 152 of the Act, Mr. Mahendra V. Doshi (DIN:
00123243), Non-Executive Director of the Company is liable to retire by rotation at the
forthcoming 31st Annual General Meeting ("AGM") and being
eligible, offers himself for re-appointment. Your Directors have recommended his
appointment for approval of the shareholders, in the 31st AGM of your Company.
The re-appointment of Mr. Pratik Doshi as Managing Director of the
Company is also proposed at the 31st Annual General Meeting of the Company.
The Company has received necessary disclosures and confirmations from
concerned Director(s) in connection with their appointment / re-appointment. Additional
information on appointment / re-appointment of Directors as required under Regulation 36
of SEBI Listing Regulations is given in the Notice convening the 31st AGM.
Pursuant to section 134(3)(d) of the Act, the Company has received
necessary declarations from all the Independent Directors under Section 149(7) of the Act
that they meet the criteria of independence laid down in Section 149(6) of the Act,
Regulation 16(1)(b) and Regulation 25 of SEBI Listing Regulations. None of the Independent
Directors held any equity shares of your Company during the financial year ended March 31,
2025. Further, in the opinion of the Board of Directors of the Company, all Independent
Directors possess requisite integrity, expertise and experience including the proficiency
required to discharge the duties and responsibilities as Directors of the Company.
Familiarization Programmes to familiarize the Independent Directors of the Company are
been conducted by the Company.
During the year under review, the Company did not have any pecuniary
relationship or transactions with any of its Directors, other than payment of remuneration
and payment of sitting fees and reimbursement of expenses incurred by them for the purpose
of attending meetings of the Company.
In terms of Section 203 of the Act, the Company has the following Key
Managerial Personnel: Mr. Pratik M. Doshi, Chairman and Managing Director, Mr. Alpesh
Dangodra, Chief Financial Officer and Mr. Sahil Gurav, Company Secretary.
During the year under review, Mrs. Anjali Suresh (DIN: 02545317) has
resigned from the office of Independent Director of the Company with effect from July 16,
2024. The Nomination and Remuneration Committee meeting and Board of Directors at its
meeting held on July 25, 2024, appointed Ms. Saseekala Nair (DIN: 10122007) as an
Additional Director to hold office of "NonExecutive, Independent Director" of
the Company for a period of 5 (Five) years commencing from July 25, 2024 and same is also
approved by the members through postal ballot notice dated July 25, 2024 passed on October
19, 2024.
As per Regulation 17(1)(a) of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, no listed
company shall appoint or continue the directorship of any person as a Non-Executive
Director who has attained the age of seventy five years unless the same is approved by
members of the Company by way of Special Resolution. The requisite consent of the members
was accorded to continue the holding of office of Director (NonExecutive) by Mr. Mahendra
V. Doshi (DIN: 00123243), who has attained the age of 75 years on the same terms as passed
by the members at the 27th Annual General Meeting held on July 15, 2021.
During the year under review, Mr. Girish Majrekar, has vide resignation
letter dated October 22, 2024 resigned from the post of Chief Financial Officer of the
Company with effect from October 29, 2024. Further, Mr. Alpesh Dangodra was appointed as
Chief Financial Officer of the Company with effect from October 29, 2024. Ms. Heta Raval
resigned w.e.f April 23, 2024 as the Company Secretary and Compliance Officer of the
Company. Thereafter, Mr. Sahil Gurav was appointed as Company Secretary and Compliance
Officer of the Company with effect from April 23, 2024.
The composition of the Board of Directors of the Company is in
accordance with the provisions of Section 149 of the Act and Regulation 17 of the SEBI
Listing Regulations, with an appropriate combination of Executive, Non-Executive and
Independent Directors.
COMMITTEES OF THE BOARD
Details of Committees of the Board of Directors of the Company along
with their terms of reference, composition and meetings held during the year, are provided
in the Corporate Governance Report, which forms part of this Annual Report.
NUMBER OF MEETINGS OF THE BOARD
The Board meetings are normally held on a quarterly basis, during the
year under review, Six (6) meetings of the Board of Directors were held. Meetings of Board
of Directors were held on April 23, 2024, July 25, 2024, October 29, 2024, November 14,
2024, January 23, 2025 and March 11, 2025. The necessary quorum was present for all the
meetings. The details of date of above meetings including the attendance of the Directors
are given in the Corporate Governance Report that forms part of this Annual Report.
PERFORMANCE EVALUATION OF BOARD
Pursuant to the provisions of the Companies Act, 2013 and the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Board has carried out an annual evaluation of performance of its
own, the Committees thereof and the Directors individually.
At the meeting of the Board all the relevant factors that are material
for evaluating the performance of the Committees and of the Board were discussed in
detail.
A separate exercise was carried out to evaluate the performance of
individual Directors including the Chairman of the Board, who were inter-alia evaluated on
parameters such as level of engagement, contribution, independence of judgment,
safeguarding the interest of the Company and its minority shareholders, etc. The
performance evaluation of the Independent Directors was carried out by the entire Board
except the Director being evaluated. The performance evaluation of the Chairman and
NonIndependent Directors was carried out by the Independent Directors.
The Directors expressed their satisfaction with the evaluation process.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
Company's policy is to have an appropriate mix of executive,
non-executive and independent directors to maintain the independence of the Board, and
separate its functions of governance and management. As on March 31, 2025, the Board had
six members, one of whom is an executive managing director, two non-executive
non-independent directors and three independent directors. One of whom is a woman
independent director.
The Company's policy on Directors' appointment and remuneration and
other matters provided in Section 178(3) of the Act, has been disclosed in the Corporate
Governance Report, which forms part of this Annual Report.
VIGIL MECHANISM/ WHISTLE BLOWER
In accordance with Section 177(9) of the Act read with Rule 7 of the
Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 22 of the SEBI
Listing Regulations, the Company has established a vigil mechanism to provide a framework
to promote responsible and secure whistle blowing and to provide a channel to the
employee(s) and Directors to report to the management, concerns about unethical behaviour,
actual or suspected fraud or violation of the code of conduct or policy/ies of the
Company, as adopted/framed from time to time. The mechanism provides for adequate
safeguards against victimisation of employee(s) and also provides for direct access to the
Chairperson of the Audit Committee in exceptional cases. No personnel have been denied
access to the Chairman or members of the Audit Committee. The said Policy is placed on the
Company's website at www.lkpsec.com.
During the financial year 2024-25, no cases under this mechanism were
reported to the Company.
PREVENTION OF INSIDER TRADING
The Company has adopted a Code of Conduct for Prevention of Insider
Trading as amended from time to time with a view to regulate trading in securities by the
Directors and designated employees of the Company. The Code requires pre-clearance for
dealing in the Company's shares and prohibits the purchase or sale of
Company shares by the Directors and the 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.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
The Company has put in place a policy for Related Party Transactions
('RPT'), which has been approved by the Board of Directors. The policy provides for
identification of RPTs, necessary approvals by the Audit Committee/Board/Members,
reporting and disclosure requirements in compliance with the Act and provisions of SEBI
Listing Regulations.
During the year under review, all contracts/ arrangement/ transactions
entered by the Company with related parties were in compliance with the applicable
provisions of the Act and SEBI Listing Regulations. Requisite approval of the Audit
Committee was obtained for all related party transactions. All related party transactions
entered during the year were on arm's length basis. The details of transactions with
related parties are provided in the Company's financial statements in accordance with the
Indian Accounting Standards.
The particulars of contract or arrangement in Form AOC-2 as required
under Section 134(3)(h) of the Companies Act, 2013 and Rule 8(2) of the Companies
(Accounts) Rules, 2014 is annexed to this Report as Annexure - V.
The Company's policy on materiality of and dealing with related party
transactions, as approved by the Board, is uploaded on the website of the Company and can
be accessed at www.lkpsec.com.
DIRECTORS' RESPONSIBILITY STATEMENT
The Board of Directors acknowledges the responsibility for ensuring
compliance with the provisions of section 134(3)(c) read with section 134(5) of the
Companies Act, 2013 in the preparation of the annual accounts for the year ended on March
31, 2025 and state that:
i. in the preparation of the annual accounts for the financial year
ended March 31,2025, the applicable accounting standards have been followed along with
proper explanation relating to material departures;
ii. they have selected such accounting policies and applied them
consistently and 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 at the end of the
financial year and of the profit of the Company for the year ended March 31, 2025;
iii. they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and other irregularities;
iv. they have prepared the annual accounts for the financial year ended
March 31, 2025 on a going concern basis;
v. they have laid down Internal Financial Controls to be followed by
the Company and that such internal financial controls are adequate and are operating
effectively; and
vi. they have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
AUDIT COMMITTEE
The Audit Committee of the Company comprises of Mr. Ganesh Malhotra,
Independent Director as Chairperson of the Committee, Mr. Sajid Mohamed and Ms. Saseekala
Nair, Independent Directors and Mr. Pratik M. Doshi, Managing Director are other Members
of the Audit Committee. The said composition is as per Section 177 of the Companies Act,
2013 and Regulation 18 of the SEBI Listing Regulations. There are no instances where the
Board did not accept the recommendations of the Audit Committee. The terms of reference,
powers and roles of the Committee are disclosed in the Corporate Governance Report, which
forms part of this Annual Report.
PARTICULARS OF EMPLOYEES
Disclosures pertaining to remuneration and other details, as required
under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, regarding remuneration of Directors,
Key Managerial Personnel and other related disclosure is given as Annexure - VI to
the Board's Report.
Further, a statement showing the names and other particulars of
employees as per Rule 5(2) and 5(3) of the aforesaid Rules, forms part of this report.
However, in terms of first proviso to Section 136(1) of the Act, the Annual Report and
Accounts are being sent to the members and others entitled thereto, excluding the
aforesaid information. The said information is available for inspection by the Members at
the Registered Office of the Company during business hours on working days and through
electronic means. Further in terms of proviso to said Rule 5(3), such
particulars shall be available to any shareholder on specific request made by him in
writing or e- mail to Company Secretary, at ho_compliance@lkpsec.com.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an Internal Control System, commensurate with the size,
scale and complexity of its operations. The scope and authority of the Internal Auditors'
function is defined in their letter of engagement. To maintain its objectivity and
independence, the Internal Auditor reports to the Chairperson of the Audit Committee of
the Board and to the Managing Director.
The Internal Auditor monitors and evaluates the efficacy and adequacy
of internal control system in the Company, its compliance with operating systems,
accounting procedures and policies of the Company. Significant audit observations and
recommendations along with corrective actions thereon are presented to the Audit Committee
of the Board.
RISK MANAGEMENT
Your Company recognizes that risk is an integral part of business and
is committed to managing the risks in a proactive and efficient manner. The Board of the
Company at regular intervals monitors the financial, operational, legal risk to the
Company. There is no risk, which in the opinion of the Board which may threaten the
existence of the Company.
Pursuant to Section 134(3)(n) of the Act it is stated that at present
the company has not identified any element of risk which may threaten the existence of the
Company.
STATUTORY AUDITORS
The term of the existing Statutory Auditors M/s MGB & Co. LLP,
Chartered Accountants is coming to an end at the ensuing AGM. The Board of Directors have
recommended re-appointment of M/s MGB & Co. LLP to hold office from the conclusion of
this AGM till the conclusion of the thirty-second AGM.
The Company has received a written confirmation from the Statutory
Auditors confirming that their continued appointment shall be in accordance with the
applicable provisions of the Act. The Statutory Auditors have confirmed that they satisfy
the criteria of independence, as required under the provisions of the Companies Act, 2013
and that they are holding a valid certificate issued by the Peer Review Board of the
Institute of Chartered Accountants of India.
AUDITORS' REPORT
There are no qualifications, reservations or adverse remarks made by
M/s MGB & Co. LLP, Statutory Auditors, in their report for the financial year ended
March 31, 2025.
Pursuant to provisions of the Section 143(12) of the Act, the Statutory
Auditors have not reported any incident of fraud to the Audit Committee or the Board
during the year under review.
SECRETARIAL AUDITOR
As required under provisions of Section 204 of the Act and read with
Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
made thereunder, Mr. V. Ramachandran (Membership No: A-7731 / CP No. 4731) Proprietor of
M/s. V. R. Associates, Practicing Company Secretaries was appointed as Secretarial Auditor
to conduct the Secretarial Audit of the Company for the financial year 2024-25. The Board
of Directors have recommended re-appointment of M/s. V. R. Associates to hold office for
period of five consecutive years, from the conclusion of this AGM.
The Secretarial Audit Report for the financial year 2024-25 is appended
as Annexure - VII, which forms part of this Report. There are no qualifications,
reservations or adverse remarks made by M/s V. R. Associates, Practicing Company
Secretaries, in their report for the financial year ended March 31, 2025.
In addition to the above and pursuant to SEBI circular dated February
08, 2019, a report on secretarial compliance by M/s. V. R. Associates, Practicing Company
Secretaries for the financial year ended March 31, 2025 is being submitted to stock
exchange.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors states that the Company has complied with
Secretarial Standards on meetings of the Board of Directors ("SS-1") and on
General Meetings ("SS-2") as amended and issued from time to time by the
Institute of Company Secretaries of India in terms of Section 118(10) of the Act.
EXTRACT OF ANNUAL RETURN
In accordance with Section 92(3) of the Act, a copy of the Annual
Return is available on the website of the Company at www.lkpsec.com.
CORPORATE SOCIAL RESPONSIBILITY STATEMENT (CSR)
In terms of Section 135 of the Companies Act, 2013, your Company has
formed a Corporate Social Responsibility (CSR) Committee to approve activities to be
undertaken, expenditure to be incurred and to monitor the performance of the CSR
activities undertaken by the Company.
The Board of Directors and the CSR Committee review and monitor from
time to time all the CSR activities being undertaken by the Company.
The Company has contributed funds for the promotion of education and
environmental sustainability etc. The contribution has been made to a registered trust
which mainly undertakes activities specified under Schedule VII of the Companies Act 2013.
The report on CSR activities is annexed herewith as "Annexure
VIII".
The Company's CSR policy provides guidelines and lays down the process
to undertake CSR activities of the Company. The CSR Policy is also available on the
website of the Company www.lkpsec.com
TRANSFER OF UNCLAIMED/UNPAID AMOUNTS TO THE INVESTOR EDUCATION AND
PROTECTION FUND (‘IEPF')
In terms of the provisions of Section 124, 125 and other applicable
provisions, if any, of the Act, read with provisions of the Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 and other
applicable provisions, all unpaid or unclaimed dividends are required to be transferred by
the Company to the Investor Education and Protection Fund ("IEPF") established
by the Central Government, after completion of seven years from the date the dividend.
Further, in terms of Section 124(6) of the Act, read with the IEPF
Rules, all the shares in respect of which dividend has remained unpaid/unclaimed for seven
consecutive years or more from the date of transfer to the unpaid dividend account are
required to be transferred to the demat account of the Investor Education and Protection
Fund Authority ('IEPFA').
The details of unpaid/ unclaimed dividend and equity shares so
transferred are uploaded on the website of the Company at https://www.lkpsec.com as well
as that of the Ministry of Corporate Affairs, Government of India at
http://www.mca.gov.in.
The Members/Claimants whose shares and unclaimed dividend have been
transferred to IEPF may claim the shares or apply for refund by making an application to
IEPF Authority in Form IEPF 5 (available on www.iepf.gov.in). The Member/Claimant can file
only one consolidated claim in a Financial Year as per the IEPF Rules.
CONSERVATION OF ENERGY
The operations of the Company are not energy intensive. However, the
Company has taken various measures for conservation of energy, like switching from
conventional lighting systems to LED lights etc. All efforts are made to use more natural
lights in office premises to optimize the consumption of energy.
TECHNOLOGY ABSORPTION
The Company, primarily being a stock broking company and not involved
in any industrial or manufacturing activities, has no particulars to report regarding
technology absorption as required under Section 134 of the Act and Rules made thereunder.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company did not enter into any foreign currency transactions except
for investment in LKP IFSC Private Limited upto $ 117963. There is no earnings in foreign
exchange.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
Providing a safe working environment for all genders, free from sexual
harassment and discrimination is among the key priorities of the Company. In compliance
with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013, the Company has put in place a policy on Prevention of Sexual Harassment of
Women at the workplace. The policy includes the scope, consequence of non-compliance and
redressal mechanism along with contact details of the Committee members for raising any
grievance/complaint under the said policy.
The Company has constituted Internal Complaints Committee under the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Adequate workshops and awareness programs are conducted across the organization.
No. of complaints received: 0
No. of complaints disposed of: 0
No. of cases pending for more than 90 days: 0
DISCLOSURES
• The Company has not accepted any fixed deposits during the year
under review and accordingly, no amount on account of principal or interest on deposits
from public and/or Members were outstanding as at March 31,2025.
• There are no significant and material orders passed by the
regulators or courts or tribunals impacting the going concern status and the Company's
operations in future.
• No material changes and commitments have taken place that could
have an impact on the financial position of the Company from the date of closure of
financial year under review till the date of signing of Accounts.
• There is no change in the nature of business of the Company.
• The Managing Director, as per the terms of his appointment, does
not draw any commission or remuneration from subsidiaries. Thereby, no disclosure is
required under Section 197(14) of the Act.
• Maintenance of cost records and requirement of cost Audit as
prescribed under the provisions of Section 148(1) of the Act are not applicable to the
business activities carried out by the Company.
• There are no shares in the demat suspense account/ unclaimed
suspense account at the beginning and at the end of the financial year.
• During the year under review, no application was made or any
proceeding was pending by or against the Company under the Insolvency and Bankruptcy Code
2016.
ACKNOWLEDGEMENT
Your Board of Directors would like to express its gratitude and its
appreciation for the continued valuable support and cooperation provided to your Company
by its Members, and in particular the customers, regulatory authorities and its banks
and financial institutions. Your Directors would also like to place on
record its sincere appreciation for the efforts put in by the
Management and the employees of the Company.
|
For and on behalf of the Board of Directors |
|
Sd/- |
| Place: Mumbai |
Pratik M. Doshi Chairman & Managing Director |
| Date : April 30, 2025 |
DIN: 00131122 |
|