**(Formerly Essar Securities Limited)** Yunik Managing Advisors Limited is an Indian listed professional services firm currently undergoing a comprehensive strategic transformation. Following a significant rebranding and structural pivot in **late 2023**, the company has transitioned from a financial services entity into a specialized consultancy and advisory firm. The company is presently focused on balance sheet repair, corporate restructuring, and the reactivation of its business operations under a new management philosophy. --- ### **Strategic Pivot and Corporate Re-Identification** The company has executed several critical actions to align its corporate identity with its new operational focus: * **Corporate Rebranding:** Effective **October 2023**, the company changed its name from **Essar Securities Limited** to **Yunik Managing Advisors Limited**. This change was designed to distance the entity from its legacy financial services roots and reflect its new core competency in professional advisory. * **Object Clause Realignment:** In **July 2023**, via a special resolution, the company formally altered its **Main Object Clause**. It replaced its previous financial activities with a broad mandate for **Business Advisory & Consultancy Services**. * **Geographic and Structural Optimization:** The Board is currently evaluating a proposal to shift the **Registered Office** from **Chennai** to **Mumbai**. This move is intended to improve the company’s corporate footprint and provide better access to institutional investors and a wider client base. * **Capital Strengthening:** Management is reviewing a **Capital Reduction Scheme** to streamline the balance sheet. This restructuring is a prerequisite for a proposed **new equity capital raise**, intended to fund the commencement of fresh business activities and reverse recent declines in consultancy income. --- ### **Core Service Portfolio and Market Mandate** Under its newly adopted **Memorandum of Association (MoA)**, Yunik Managing Advisors Limited operates as a multi-disciplinary consultancy. Its service architecture includes: * **Financial & Administrative Advisory:** Specialized guidance on organizational structure, management problems, and financial planning. * **Operational & Technical Consultancy:** Advisory on production techniques, material and cost control, purchasing strategies, and technical engineering services. * **Project Management & Growth:** Acting as promoters of industrial growth by providing market research, business administration, and project commencement services. * **Commercial & Trade Services:** Consultancy regarding marketing, advertisement, publicity, and export-import regulations. * **Infrastructure Participation:** The company’s mandate allows for participation in **Build, Own, Operate, and Transfer (BOOT)** projects across sectors such as energy, chemicals, and general infrastructure. --- ### **Financial Performance and Capital Structure** The company operates a lean business model with revenue recognized on an accrual basis. Recent fiscal years have shown a transitionary phase in financial performance. **Key Financial Results (FY 2023-24):** | Metric | Value (₹ in lakhs) | | :--- | :--- | | **Revenue from Operations** | **5.00** | | **Tax Expenses** | **1.25** | | **Net Profit after Tax** | **3.75** | **Comparative Historical Performance:** | Metric | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | | **Profit / (Loss) After Tax** | **(₹12.35 Lakhs)** | **₹9.04 Lakhs** | | **Basic & Diluted EPS** | **(₹0.09)** | **₹0.06** | | **Weighted Avg. Equity Shares** | **1,42,87,754** | **1,42,87,754** | **Shareholding and Equity Profile:** The company has a single class of equity shares with a **face value of ₹10 each**. There have been **no bonus shares or buybacks** in the preceding five years. * **Primary Promoter:** **Imperial Consultants and Securities Limited** holds **22.46% (32,09,343 shares)**. * **Promoter Evolution:** This holding was consolidated following the **NCLT-approved amalgamation** of **Vajresh Consultants Ltd** into Imperial Consultants and Securities Ltd, effective **July 2022**. --- ### **Governance, Compliance, and Risk Landscape** The company faces a complex regulatory environment characterized by significant vacancies in leadership and the insolvency of its promoter entity. **1. Leadership and KMP Vacancies:** The company currently lacks a **Chief Executive Officer (CEO)**, **Chief Financial Officer (CFO)**, and a whole-time **Company Secretary & Compliance Officer**. Consequently: * The Board consists entirely of **Non-Executive and Independent Directors**. * The company is in violation of **Regulation 17(1)(a)** regarding the optimum combination of the Board (lack of an Executive Director). * Mandatory **Regulation 17(8)** compliance certificates cannot be issued due to the absence of a CEO/CFO. **2. Promoter Insolvency:** The promoter entity, **Imperial Consultants and Securities Limited**, is currently undergoing the **Corporate Insolvency Resolution Process (CIRP)**. This introduces a layer of systemic risk regarding the stability of the promoter holding. **3. Regulatory Non-Compliance:** * Failure to make annual disclosures under **Regulation 31(4)** of SEBI (SAST) regarding promoter share encumbrances. * Quarterly governance reports for **March 2024/2025** were submitted without the signature of a designated Compliance Officer. * Non-notification to Stock Exchanges regarding the specific reasons for the resignation of Director **Mr. Brijgopal Kankani**. **4. Contingent Liabilities and Tax Dues:** * **Disputed Income Tax:** **₹11,27,049** for **AY 2017-18**, currently pending in appeal with **CIT Appeals, Mumbai**. * **Statutory Dues:** While there are no undisputed arrears older than six months, the company has noted delays in the routine deposit of **GST** and **Income Tax**. --- ### **Risk Management Framework** Despite operational challenges, the company maintains a framework to monitor financial exposures: * **Credit Risk:** Managed by dealing with creditworthy counterparties and maintaining liquid funds with **high credit-rating international banks**. Trade receivables are monitored via ongoing credit evaluations and **credit guarantee insurance** where applicable. * **Liquidity Risk:** The Board monitors the maturity profiles of financial assets and liabilities to ensure adequate banking facilities are maintained. * **Market Risk:** The Corporate Treasury department monitors exposure to **currency risk**, **interest rate risk**, and **price risk**. * **Internal Controls:** Monitoring is conducted by external Chartered Accountant firms to ensure operational efficiency, despite repeated audit observations regarding KMP vacancies. --- ### **Future Outlook and Strategic Targets** The company’s primary objective for the **2024-25** financial year is to reverse the decline in consultancy income through: 1. **Client Base Expansion:** Aggressive targeting of new institutional and corporate clients. 2. **Capital Infusion:** Finalizing the **Capital Reduction Scheme** to facilitate fresh equity investment. 3. **Operational Reactivation:** Leveraging the broad **MoA** to move beyond pure advisory into technical and project-based services (BOOT). 4. **Structural Regularization:** Presenting detailed restructuring proposals to shareholders in the **next quarter** to bring the company back into regulatory compliance.