**Titan Securities Limited** is an established Indian **Non-Banking Financial Company (NBFC)** registered with the **Reserve Bank of India (RBI)** since **January 3, 2003** (Registration No. **B.14-01407**). With a listing history on the **BSE Limited** dating back to **May 9, 1995**, the company possesses over **30 years** of experience in the Indian capital markets. ### Regulatory Classification & Operational Scale Under the RBI’s **Scale-Based Regulatory (SBR) Framework**, Titan Securities is classified as a **Base Layer (BL)** entity. It operates as a **Non-Deposit Taking, Non-Systemically Important Investment Company (NBFC-NSI-ND)**. | Metric | Details (FY 2024-25) | | :--- | :--- | | **Authorized Share Capital** | **₹25.50 Crores** | | **Paid-up Share Capital** | **₹25.02 Crores** | | **Listing Status** | **BSE Limited** (Scrip Code: **530045**) | | **Dematerialization** | **97.36%** of shares (as of March 2023) | | **Public Deposits** | **Nil** (Strict non-acceptance policy) | | **Accounting Standard** | **Ind AS** (Effective March 31, 2025) | --- ### Core Business Verticals & Strategic Interests The company operates through a **single reportable business segment: NBFC Activities**. Its revenue model is diversified across three primary financial pillars: * **Investment Activities:** Strategic deployment of capital into profitable and secure investment schemes, shares, and securities designed to maximize long-term capital appreciation. * **Lending Services:** Provision of loans and advances to various sectors, leveraging the company's liquidity to generate interest income. * **Capital Market Operations:** Active participation in financial markets to capture trading gains and optimize the portfolio. **Strategic Associate Holdings:** Titan Securities holds significant interests in the following entities, which are integrated into its consolidated financial reporting: * **Titan Biotech Limited** * **Peptech Biosciences Limited** --- ### Financial Performance & Growth Trajectory The company has demonstrated a significant recovery and expansion in its operational scale over the last three fiscal years. A transition to **Indian Accounting Standards (Ind AS)** in FY 2024-25 has introduced the **Expected Credit Loss (ECL)** methodology for more robust asset provisioning. | Metric | FY 2024-25 (Ind AS) | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Operational Income** | **₹10.42 Crore** | **₹7.00 Crore** | **₹3.41 Crore** | | **Profit After Tax (PAT)** | **₹1.13 Crore** | **₹1.07 Crore** | **₹0.45 Crore** | | **Current Ratio** | - | - | **303.52** | | **Return on Net Worth** | - | - | **1.28%** | | **Net Profit Margin** | - | - | **13.28%** | **Key Financial Observations:** * **Liquidity Surge:** The **Current Ratio** spiked to **303.52** in FY23 (from **7.71** in FY22), following the strategic **repayment of short-term borrowings**. * **Inventory Dynamics:** The **Inventory Turnover Ratio** was **0.16** in FY23, reflecting a deliberate reduction in the volume of share trading to focus on long-term holdings. * **Tax Optimization:** The company has adopted the tax option under **Section 115BAA** of the **Income Tax Act, 1961**, benefiting from a **lower corporate tax rate**. --- ### Capital Management & Expansion Strategy To support increasing credit demand and upcoming projects, the company is actively enhancing its financial flexibility. * **Expanded Borrowing Limits:** Under **Section 180(1)(c)** of the Companies Act, 2013, the company has proposed a borrowing limit of up to **₹15 Crores**. This allows the company to borrow sums exceeding the aggregate of its **paid-up share capital, free reserves, and securities premium**. * **Asset Allocation:** The strategy emphasizes "profitable and safer" investment decisions, utilizing the **Scale-Based Regulatory** framework to align risk exposure with growth. * **Lean Management:** A focus on cost optimization is evidenced by the **nil remuneration** model requested by the Managing Director, aimed at maximizing stakeholder returns. --- ### Governance & Leadership Continuity The company has prioritized institutional stability through long-term appointments and structured oversight. * **Executive Leadership:** **Mrs. Manju Singla** has been re-appointed as **Managing Director** for a **5-year term** (October 1, 2025, to 2030). * **Audit Framework:** **M/s. Goyal Nagpal & Co.** serves as the Statutory Auditors (5-year tenure through FY 2029-30), while **PGM & Associates** handles Internal Audit functions. * **Independent Oversight:** Non-Executive Independent Directors receive a structured sitting fee (**₹3,500** per Board/Independent meeting; **₹1,000** per Committee meeting) with **no commission-based remuneration** for FY 2024-25. --- ### Risk Management Framework Titan Securities employs a structured risk mitigation strategy overseen by the **Audit Committee** to protect capital and ensure sustainable value creation. | Risk Category | Mitigation Strategy | | :--- | :--- | | **Credit Risk** | Monitoring individual customer characteristics and industry demographics. Historical data shows **negligible provisions** for bad debts. | | **Market & Interest Risk** | Independent control processes to minimize the impact of interest rate fluctuations and market volatility on the investment portfolio. | | **Liquidity Risk** | Continuous analysis of risk limits to ensure all contractual obligations are met without strain. | | **Foreign Exchange** | **Zero exposure**, as the company currently engages in no international transactions. | | **Legislative Risk** | Monitoring the **Code on Social Security, 2020**, specifically regarding potential material impacts on **Gratuity liability**. | **Macro-Economic Outlook:** While the company identifies high potential for credit growth driven by India’s **GDP growth (projected >6%)**, it remains cautious of global headwinds (banking instability in the **USA and Switzerland**) and domestic sensitivities such as **monsoon volatility** and its impact on food inflation.