Saturday, September 30, 2023
News
NEWS HOME
PRN INDIA
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:https://www.prnewswire.com/in/news-releases/abans-holdings-limited-reports-strong-results-for-q4-and-fy23-unveils-expansion-plans-301831878.html

More News by PR Newswire India

THE MESSIKA HIGH JEWELRY SHOW LIGHTS UP FASHION WEEK

Mistplay ranks as a Top 100 company on The Globe and Mail's fifth-annual ranking of Canada's Top Growing Companies.

Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications

CGTN: Mid-Autumn Festival: Xi Jinping's nostalgia

OPPI organizes a two-day "Innovate India Vision 2047 - औषधि विज्ञान और अनुसंधान, बढ़ते भारत की शान" Conference in New Delhi

Bloom Cafe and Cakery, where Acai from Brazil meets India

Jandy Adds More Horsepower to its Pump Lineup

Sasken Technologies Collaborates with Qualcomm through IoT Accelerator Program

Azure Power Announces Results of the 2023 Annual Meeting of Shareholders

Microsoft's Generative AI Initiatives - A Vision to Transform Businesses

BNI® CEO & Chairman, Graham Weihmiller, Steps Up to Executive Chairman Role and Recruits New CEO

Brand Studio Lifestyle eyes Rs. 2,000 Cr GMV by end of FY24

CTAI Foundation Announces Construction Technology Day 2023

TAGTHAi Introduces the Pattaya Pass to Expand the National Tourism Platform and Promote Authentic Travel Experiences in the City

State Bank of Sikkim & SBI Life Insurance sign a bancassurance pact, to make comprehensive insurance solutions accessible for residents of Sikkim

Godrej Properties commissioned report 'Waste Matters', a handbook on better management of construction waste for Real Estate in India, calls for collaborative action across the ecosystem

MEIL Secures third project in Mongolia

Third edition of Dubai World Congress for Self-Driving Transport, honours Challenge winners

Noted film personalities from Telugu Film Industry, grace the Woxsen University's Kaleido Film Festival

Entropik launches Qatalyst, an Integrated AI User Research Platform

Airbiquity and Tessolve Enable Telematics Gateways with OTA and Data Logging Solutions to Easily Facilitate Connected Vehicle Development and Production

#UseHeart movement rallies for change as heart disease continues to claim most lives

SMX CSR Leadership Summit & Awards 2023: Shaping a Sustainable Future Together at India Habitat Centre, New Delhi

THE Rankings: Shoolini Tops Private Universities for 2nd Consecutive Year

University of Melbourne launches Global Alumni Ambassadors Program

ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets

TMEIC Awarded Frost & Sullivan's 2023 Global Company of the Year Award for Revolutionizing the Power Electronics Industry with Its Innovative Technologies

Cutting-edge cancer imaging tool allows doctors to efficiently adapt radiotherapy treatment

Supermicro Celebrates 30th Anniversary of Growth, Innovation, AI and Green Computing

"Tourism Opens Minds" Initiative Launched in Riyadh to Transform Travel Habits

ADVANCING INTERNATIONAL TOURISM EDUCATION: THE RIYADH SCHOOL OF TOURISM AND HOSPITALITY UNVEILED AT WORLD TOURISM DAY IN SAUDI ARABIA

Aero-Shield Capital, Inc. renews and expands Auxiliary Power Unit APU Maintenance Support Agreement

WIN YOUR WAY TO LAS VEGAS WITH POKERSTARS

Ken George Joins Bright Pattern as Official US Director of Business Development & Channel Sales

Harnessing AI to Find Ideal Business Partners in International Trade

Accor and International Institute of Hotel Management (IIHM) sign Strategic Partnership In India

Maybelline New York Makes a Splash in Roblox: A Digital Makeup and Music Adventure

2023 World Design Cites Conference Opens in Shanghai

Amity University Rajasthan Achieves NAAC Accreditation with A+ Grade

Quantinuum's H1 quantum computer successfully executes a fully fault-tolerant algorithm with three logically-encoded qubits

Maison Perrier-Jouët and Mélanie Laurent united for a desirable future

Aramco to enter global LNG business by acquiring stake in MidOcean Energy

Winners of $10 Million Innovation in Desalination Prize to be announced in Jeddah

FP Markets Wins 'Best Trading Conditions' and 'Most Trusted Broker' at the Ultimate Fintech Awards Global 2023

G-P Ranked the Highest Leader in Everest Group's Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2023

IBM Announces Availability of watsonx Granite Model Series, Client Protections for IBM watsonx Models

Applied Ventures Selects Seven Deeptech Startups during ASTRA 2023

High-Speed Wi-Fi from Mount Everest Tourist Base Camp

Celebrating Excellence in the Indian Wedding Industry: WeddingSutra Influencer Awards 2023

ICANN Celebrates 25 Years: Bridging the Past with a Vision for the Future

Barbados to host next Sustainable Energy for All Global Forum in June 2024

Over 1100 Students Participate In KIIT-DU Organised Smart India Hackathon-2023

Unilumin Group Offered LED Displays and Integrated Metasight Solutions for the 19th Asian Games

Godrej aer creates a fragrant walkway tunnel as part of mannat lane at the iconic Lalbaugcha Raja Pandal in Mumbai and leverage technology to enhance devotees experience

Five Decades of Strengthening Bengaluru's Foundations: APCO Celebrates Golden Anniversary

JR Technologies and IAG Loyalty Partner to Provide Multi-Product Retailing Solution to the Airline Industry

DU Digital Global Secures Pivotal Visa Processing Contract with the Royal Thai Embassy in New Delhi: A New Era of Excellence Begins

NIHR research suggests e-cigarettes are not a gateway into smoking

Cashfree Payments launches 'One Escrow' - a premier modular escrow solution

ASIA'S BROADCASTING & INFOTAINMENT SHOW (A.B.I.S) - HERALDING A NEW ERA FOR THE INDIAN MEDIA & INFOTAINMENT INDUSTRY

AppViewX Receives the Coveted Great Place To Work Certification for the Second Consecutive Year

ACES wins Mumbai's First and Longest Underground Metro Line serving over 600 Million Annual Passengers

Rummy Passion's Refer a Friend Program Celebrates a 7-Year Milestone of Thrilling Success

IIT Kanpur launches new cohorts for 3 eMasters Degree programs in Data Science, FinTech, and Power Sector

HarperCollins is proud to announce the publication of 'We Also Make Policy' by Subhash Chandra Garg

TVU Networks to Showcase its Next Generation 5G Transmitter and Native 4K Support Cloud Production EcoSystem at BI2023

Trina Solar's sustainable technology drives green future

India Will See a Substantial Growth in Residential Rooftop Solar, and Utility-Scale PV Power Projects Will Seek More Efficient Products

Casio to Release Dust- and Mud-Resistant G-SHOCK with Rugged Full-Metal Exterior

2023 Yidan Prize: Michelene Chi and Shai Reshef awarded the world's highest accolade in education

BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading

THE GLEN GRANT SINGLE MALT SCOTCH WHISKY INTRODUCES THE VISIONARY; THE OLDEST SINGLE MALT IN THE DISTILLERS ONE OF ONE AUCTION

Relativity Unveils Relativity aiR for Review at 14th Annual Relativity Fest

ThroughPut Inc. Appoints Retired Pentagon Brigadier General Max J. Stitzer, U.S Air Force, to Advisory Board

HarperCollins is proud to announce the publication of 'The Day I became a Runner' A Women's History of India through the Lens of Sport by Sohini Chattopadhyay

Robosoft Technologies Completes Acquisition of Cartesian Consulting Analytics Practice

Startek Named India's Best Workplaces for Women 2023 (Large): Top 10 by Great Place To Work

Zeus Launches Next-Generation Tubing for Bioresorbable Vascular Scaffolds

Score a 5000 USDT Bonus for Esports Betting on Envision Digital N.V.

Voltup ties up with cKers Finance to expand battery swapping presence in the Country

Altair Wins Awards from Fortune and Newsweek Recognizing Employer Excellence

MOVIN wins the Promising Brand 2023 award by ET Edge, for its outstanding digital innovation

Infosys Launches Industry Cloud to Catalyse Digital Transformation of the Commercial Airline Industry

moneyview receives ISO certification for Information Security Management System(ISMS)

Huawei SmartLi UPS: A Green, Uninterrupted Power Solution for Critical Equipment

Upgrades to Innodisk DRAM PRO Series to Excel in Aerospace and In-Vehicle Environments

Mochi Shoes launches AW'23 Campaign titled 'Always a good time in Mochi'

Chinese Dance Drama "MULAN" Premiered in the United States

Besins Healthcare Unveils State-of-the-Art Hormone Factory in Muel, Spain, Amplifying Global Production Capabilities by 30%

Black Box Cybersecurity Wins 17 New Marquee US Customers, Including a Fortune 500 Client

Seven AI/ML for Life Sciences Companies Identified as Innovators in New Clarivate Companies to Watch Report

JR Technologies Launches Next Generation Platform for Airline Retailing, Setting New Standards for Passenger-Centric Service

Cosmo and Glenmark announce the signing of Distribution and License Agreements for Winlevi® in Europe and South Africa

UST Invests in Leading Retail Supply Chain Innovator Bricz

"AI Chat: Chatbot Assistant" - A Revolution Marking the Dawn of a New Digital Communication Era

Poonawalla Fincorp partners with IndusInd Bank for co-branded credit card, gets RBI permission

TÜV SÜD South Asia launches Academy e-store

iQIYI Debuts Karaoke Mode in "Big Band Season 3", Providing Interactive and Immersive Viewing Experience

World's Deepest Mining Site Trusted Oizom's Real-Time Air Quality Monitors for Maintaining Occupational Health & Safety

Xinhua Silk Road: China's Kunshan City holds Mid-Autumn Festival lantern show to promote cross-strait cultural exchanges

World Mental Health Day Underscores Urgent Need for Doctors in India to Help the Country's Over 250 Million Tobacco Users Quit

Xinhua Silk Road: China's shipping industry achieves new progress in international cooperation

Relativity Honors Technology Changemakers at the 2023 Innovation Awards

Digital Prosperity Awards Garner Global Recognition with Hundreds of Submissions

ViewSonic Develops Comprehensive EDLA Lineup with New ViewBoard IFP52-2 Series

SAP Announces New Generative AI Assistant Joule

Shanghai Electric Showcases Multiple World-Class Scientific and Technological Innovations at the China International Industrial Fair 2023 in Shanghai

Pixalate's H1 2023 EMEA Mobile App Ad Supply Chain Report: 39% Mobile Open Programmatic Ad Revenue in Europe Attributed to Cyprus-based Developers

Pixalate Releases H1 2023 EMEA Connected TV (CTV) Ad Supply Chain Report: 58% YoY Decline in Open Programmatic CTV Ad Spend

InterGlobix wins Fast-Growing Company Award at the Second Annual Incredible Inc. 50 Awards

Are We Stuck in a 'Travel Bubble'? Travel Habits Exposed in Global Survey

Bison Development Unveils Glenhill - Ultra-Luxury, Contemporary Homes Coming Soon to Raleigh

CGTN: How does China act to build a global community of shared future?

RocketReach introduces AI-powered features and unprecedented data quality

First-of-its-Kind Net-Zero Carbon Life Sciences & Tech Facility Coming to Boulder, Colorado

New Version of Solace Event Portal Software Enables Unprecedented Visibility, Management and Control of Apache Kafka Deployments

The Power of Integration: Plesk and Sitejet Revolutionize Website Design and Management for Web Professionals, SMBs, and Agencies

BICES 2023: XCMG Machinery Takes Center Stage with Intelligent and Eco-Friendly Construction Machinery

Infosys collaborates with Microsoft to accelerate and democratize industry-wide adoption of generative AI

ACX's technology to power Indonesia Carbon Exchange

Bitget's Smart Portfolio Bot Enables Sophisticated Crypto Trading For Users

CMF by Nothing Unveils Debut Products

SAMCO launches its Trade API: Pioneering Algo Trading for Large-Volume Traders

Clarivate Establishes Academia & Government Innovation Incubator and Acquires Alethea, an AI Student Engagement Solution

Kavalan Secures 4th Consecutive ISC World Whisky Producer Title

iMocha, alongside other partners, wins the 'Best Catalyst - Culture and Talent' Award at TM Forum's Digital Transformation World (DTW) 2023

HIVENTURES INVESTS IN HUNGARIAN STARTUP THAT CREATES A FUTURE WITHOUT BARRIERS

Mango TV's Reality Show Call Me By Fire 3 Goes Viral, More International Artists Seeking to Perform in China

Clean-Tech Innovator, ReCircle, Raises Pre Series-A Round from Flipkart Ventures, 3i Partners & Acumen Fund Inc. to Fuel Innovation & Growth

11th White Page Leadership Conclave 2023, Dubai UAE featuring Global Inspirational Leaders, Asia's Women Power Leaders, Global Power Leaders 2023, and Power List (Brands) 2023

LyondellBasell Demonstrates Commitment to Sustainability with Launch of +LC (Low Carbon) Solutions

Brambles' 2023 Sustainability Review: Pathway to Regeneration

Luxury, Art, and Stardom in the spotlight at The Chanakya with an exclusive Art exhibit by Masha Art.

Stockify goes fully Digital, offers Mutual Funds and Dematerialization of shares

VIVOTEK Supports Taiwan-Owned Entity in Elevating Building Security & Surveillance Efficiency in the USA

SOAS and Asian International Arbitration Centre, Malaysia, sign Memorandum of Understanding and host London International Arbitration Colloquium

CGTN: 'Everyone's contributor': How China advances common prosperity through opening-up, rural revitalization

Global Times: China's strength, confidence and hospitality on full display at 19th Asian Games

Cignal TV taps Quickplay platform for Pilipinas Live global sports app

Fiera Capital Celebrates Its 20th Anniversary

THE GLEN GRANT DEVOTION 70-YEAR-OLD SELLS FOR £81,250 ($101,300 USD) AT AUCTION WITH PROCEEDS TO BENEFIT THE ROYAL SCOTTISH FORESTRY SOCIETY

Arçelik showcases climate action commitments at UN General Assembly with ambitious sustainable development goals

PRADA SPRING/SUMMER 2024 WOMENSWEAR SHOW

Boehringer Ingelheim India joins forces with Pet Practitioners Association of Mumbai (PPAM) and Brihanmumbai Municipal Corporation (BMC) to 'Stop Rabies' in Mumbai

Supermicro Introduces New All-in-One Open RAN System Optimized for Telco Edge Data Centers with Built-in Intel vRAN Boost

NBA DELIVERS MOST-WATCHED SEASON EVER IN INDIA WITH MORE THAN 100 MILLION UNIQUE VIEWERS ACROSS LINEAR AND DIGITAL PLATFORMS

71% of senior business technology decision makers are disappointed with B2B marketing content

Overloaded: 89% of Indian consumers think there are 'too many' subscription services to choose from now

EU group names Trina Solar Decarbonisation Leader

Huawei Accelerates the Commercial Market Advancement and Helps SMEs Go Digital and Intelligent

Senores Pharmaceuticals, Inc. announces the launch of Nicardipine Hydrochloride Capsules USP, 20 mg and 30 mg in the U.S. market

"From Ziquejie Terraces to the World" - An Invitation for Reaching the Ziquejie Consensus on Terrace Preservation and Development to the World

Huawei's Brand-New Digital and Intelligent Foundation Upgrades Aviation and Rail Industries

Cashfree Payments partners with Shopify to launch onsite payments for Indian merchants

EQT PRIVATE EQUITY TO SELL LIMACORPORATE TO ENOVIS: THE ITALIAN SITE IN SAN DANIELE DEL FRIULI WILL REMAIN THE FULCRUM OF PRODUCTION, BENEFITING FROM NEW INVESTMENTS

Celebrating the Grand Opening of Doo Group's New Hong Kong Office: A Promising Start to an Exciting Future

Huawei Launches the Global Intelligent Education Showcase to Accelerate Digitalization in Education

Xinhua Silk Road: China int'l service trade fair highlights new features of China's trade, open economy

Over 20,000 avail benefit at free mega health camp organised by Chandigarh Welfare Trust to celebrate 73rd birthday of PM Modi

Huawei Accelerates Intelligent Healthcare with the Innovative Digital Medical Technology Solution

Huawei High-Quality 10 Gbps CloudCampus Accelerates Intelligent Transformation Across Industries

Hexaware Appoints Anton Tomchenko as Chief Revenue & Solutions Officer for Digital & Software Services

Xinhua Silk Road: Dev't index witnesses progress of int'l shipping center construction in Shanghai

Pierre Fabre Laboratories and Vernalis announce a drug discovery collaboration in oncology

Religare Broking Takes A Global Leap to Serve NRIs: Hosted IGI Conference in Dubai

Artmarket.com: France obtains the maintenance of VAT at the reduced rate of 5.5% on the Art Market, a major victory with very considerable advantages according to Artprice.

Safer, Inclusive Schools Critical for Children's Learning: Coalition for Good Schools

LRQA verifies Bridgestone's plant in India as carbon neutral against international standard PAS 2060

A23 launches new brand campaign featuring Shah Rukh Khan; Unveils new A23 Poker app

VVDN Technologies and Axiado Collaborate on Open Compute Platform Compliant data center and Telco O-RAN servers

Huawei Upgrades the CloudWAN 3.0 Solution, Accelerating the Intelligent Era

Redefine Security with the All-New Huawei HiSec Intelligent Security Portfolio and the Powerful HiSec SASE Security Solution

Huawei Launches Three Product Portfolios for the Commercial Market to Build High-Quality Connections

GET THAT 'CAN'T WAIT TO WINTER' FEELING IN ABU DHABI

Come Discover Colorful Guiyang featuring "Thousand Parks, Thousand Paths"

Casio to Release League of Legends G-SHOCK Watches

Campus With A Conscience hosts a week-long UN festival

France Announces €40 Million in New Funding to Education Cannot Wait at Global Citizen Festival

CGTN: 'Heart to Heart': How can Hangzhou Asiad boost unity, friendship across Asia?

Education Icon Awards 2023 organized by Kiteskraft Productions LLP

Office of the Executive Committee of the WMC: Anhui Strengthens Scientific and Technological Innovation Capacity to Attract Multinational Enterprises

SAUDI ARABIA UNVEILS TOP TOURISM LEADERS AND GLOBAL MINISTERS IN SPEAKER LINEUP FOR WORLD TOURISM DAY 2023

TECNO Globally Launches PHANTOM V Flip 5G: Representing Flip in Style and Perfect in Pocket

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Andhra Pradesh CM Jagan releases Rs 276 ...
Panthers Party accuses BJP of trying to ...
Cauvery protests: Actor-director Prem ex...
Jammu Smart City organises e-bicycle ral...
Hospital in Kerala celebrates recovery o...
10 new IT parks to be set up in Tamil Na...
More...    
 
 Top Stories
We don't think freedom of speech e... 
Abhishek Banerjee is mastermind: Un... 
US: Congressman Shri Thanedar launc... 
Shocking display of deceit: Abhishe... 
Ongoing problem with Canada for so... 
CII Himachal Pradesh organises 4th ... 
"Why are you so afraid?" Abhishek B... 
Arunachal CM Pema Khandu inaugurate...