Saturday, July 20, 2024
Abans Holdings Limited reports strong Results for Q4 and FY23: Unveils Expansion Plans
  SocialTwist Tell-a-Friend  

  • Consolidated Net Profit increased by 14% YoY, reaching Rs 70 Cr in Mar'23
  • Operating Profit rose by 15% YoY to Rs 76 Cr in Mar'23
  • Agency income surged by 83% YoY, reaching Rs 43 Cr in Mar'23
  • NPA remains at zero

MUMBAI, India, May 23, 2023 /PRNewswire/ -- Abans Holdings Limited, a leading diversified financial services company, announced strong financial performance for the fourth quarter (Q4) and fiscal year 2023. The company showcased significant growth across various financial metrics, reinforcing its position as a key player in the industry.

In addition to its strong results, Abans Holdings outlined its strategic expansion plans, aiming to drive future growth and strengthen its leadership position in key areas as under:

1. Diversification of Business Operations: Abans Holdings Limited aims to expand beyond its current holding company status and also act as sponsors and investment managers for managing schemes floated by all categories of Alternative Investment Funds (AIF). The alteration of the object clause has been approved by the registrar of companies, and revenue generation from these activities is anticipated to commence in H1 FY24, subject to regulatory approval.

2. Agency Income Growth:  Despite capital market volatility, Abans Holdings has successfully achieved an impressive 83% YoY growth in agency income by expanding its global footprint.

3. Expansion into Remittance Services: Corporate Avenue Services Limited (CASL), a subsidiary of Abans Holdings, has obtained a licence from the FCA UK, enabling the provision of remittance services to global clients transacting in multiple currencies. This business segment holds tremendous potential and is expected to serve as a growth driver for the group.

4. Acquisition of SATCO Growth and Momentum Portfolio: To further enhance its assets under management (AUM), Abans Broking Services Private Limited (ABSPL), a subsidiary of Abans Holdings, has entered into a MoU with SATCO Capital Markets Limited (SATCO). The agreement entails taking over the SATCO Growth and Momentum Portfolio, including its performance history, investors, AUM, and fund management, subject to regulatory approval. The SATCO Growth and Momentum Portfolio currently stands at Rs 80 crore AUM and has delivered a notable 21.6% CAGR since its inception. Going forward, such mergers and acquisitions will strengthen our presence and fuel our growth trajectory.

Abhishek Bansal, Managing Director of Abans Group, expressed his enthusiasm about the company's performance and future plans, stating, "We are delighted with the robust financial results achieved in fiscal year 2023. Our strong growth across various metrics is a testament to our focused approach and unwavering commitment. As we move forward, our strategic focus on Asset & Wealth Management will further strengthen our position in the industry and deliver long-term value to our stakeholders."

With the successful listing of Abans Holdings Ltd, the company has experienced accelerated growth momentum. The management's primary focus is on consolidating its leadership position in businesses such as agency income and the lending sector. Leveraging its integrated platform, which seamlessly combines lending, trading, and wealth management, Abans Holdings has established a global reach, catering to a diverse range of clients.

About Abans Holdings Limited:

Abans Holdings Limited (AHL) is a globally diversified financial services organisation that provides its clients with integrated financial services and products.

Abans Holdings Limited operates in several business verticals, including financial services, commodities trading, agricultural trading and warehousing, and real estate. Through its financial services vertical, the company provides a range of financial products and services, including financing, institutional trading, private client brokerage, asset management, and investment advisory services.

The company operates in various markets and exchanges globally, including the BSE, NSE, MSEI, NCDEX, ICEX, MCX, and IIEL in India, as well as London Metal Exchange (LME), Dubai Gold & Commodities Exchange (DGCX), Dalian Commodity Exchange (DCE), and Shanghai International Energy Exchange (INE). Additionally, the company has an in-house NBFC business that provides lending support to its clients.


Cision View original content:

More News by PR Newswire India


Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale


Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

Pune court grants Puja Khedkar's father ...
'BJP has returned to path of communal po...
'Global warming is becoming new crisis i...
'Had to be nudged out...' Congress leade...
Three other accused involved in killing ...
Kanwariyas begin 'Kanwar Yatra' in UP, U...
 Top Stories
"BJP has returned to path of commun... 
"Global warming is becoming new cri... 
Thousands participate in Nepal's la... 
"Had to be nudged out..." Congress ... 
Orion Innovation Empowers Underpriv... 
Three other accused involved in kil... 
Indian stock exchanges and clearing... 
Kanwariyas begin 'Kanwar Yatra' in ...