SIHL

Dear Shareholders,
FY22 continued to witness fantastic recovery from the COVID pandemic led recession. While the waves of the pandemic continued through the year, Indian economy showed amazing resilience and continued its onward march to the new heights. Markets also responded to this recovery in the first half of the year with gusto and major indices saw one of the fastest run ups in the history.

Shah Investor’s Home Limited continued onward march on recorded one of the best performances in the company’s history by posting 34% improvement in the operational revenue of Rs. 44.7 Cr and PAT growth of 17.2% at Rs. 17.29 Cr. PAT stood at Rs. 17.93 Cr on consolidated basis resulting in Rs. 11.40 consolidated EPS. Net worth of the company grew to Rs. 94.25 Cr and the book value saw an 21.25 % increase to Rs. 59.83 per share.

The year however, was not so great for the global markets. While shocking conflict between Russia & Ukraine resulted in global run-up in the crude & energy prices, rising inflation started showing its ugly side in the developed world. This resulted in the central banks around the world starting to reverse the course on monetary policies. RBI also responded in kind and started increasing the benchmark rates. Supply chain disruptions continued on account of the war and sustained lockdowns in China to curb COVID outbreaks.

Overall, the volatility increased substantially and FPIs withdrew Rs. 1.40 Lakh Crores from the Indian debt and equity markets. NSE’s Nifty gave positive return to the tune of 18.9% for FY2022. All significant sectors ended positive for the fiscal year. However, Nifty Midcap and Small Cap indices managed to outperform Nifty with returns of around 20.85% and 28.63% respectively.

Looking at FY2022-23, we feel that India will continue to witness GDP growth in the range of 6% to 6.5% and sustained push to bring bigger section of the economy into the organized fold, Indian markets will witness new heights. Better tools & better investment guidance is the need of the hour to ensure that the clients prosper and we continue to gain their trust for long-term association.

We look forward to launch improved solutions for mobile and internet trading that gives deeper technical & fundamental insights to all our customers for making their investment decisions. While the competitive landscape has become more challenging, never-ending changes in the regulatory requirements have also claimed larger share of physical and human resources. We are committing fresh capital to improved technological infrastructure and software development activity to enable more engaging and fulfilling investment experience for our clients & partners.

Our in-house market research team provided key insights for the performance of our investment activities. Software development team for our in-house ERP system continued to convert never-ending regulatory changes into simple tasks for all the branches & back office staff. Some of their exemplary solutions were appreciated by the brokerage community at large. Our Trading &Demat staff also provided great support to all our branches & partners especially in light of updated KYC requirements. We are deeply thankful to our staff & associates for their continued efforts and to the clients for their trust in our services.

UPENDRA T. SHAH
MANAGING DIRECTOR & CHAIRMAN