The Financial year 2011 - 2012 was a roller-coaster year for the
markets. It started on a high degree of optimism but ended sombre.
Retail participation became subdued. Global economic environment also
deteriorated rapidly during the course of the year with rising risk
aversion due to the fear of EU sovereign debt crisis and falling
consumer confidence due to overall economic fears. The domestic
economic environment was also plagued by several issues of high
inflation, rising interest rates, slowing economic growth and corporate
earnings, widening of fiscal deficit, government policy inaction,
rising NPA(s) in the financial system, ambiguity in capital flows,
higher trade deficit and consequently higher dollar. All these global
and domestic challenges resulted in a tough business environment to
We, at ABML, took this period as an opportunity to create synergy and
formed a lean structure at the top to ensure effective span of control
and reduce cost. We remained focused on client acquisition and
increased the dealer base for capturing equity and commodity market
growth. Our market share grew to 1.41% from 0.84% in retail equities
and 0.49% from 0.27% in commodities. Specific focus on the derivatives
market opportunity last year helped in expanding our product presence
in this space.
We have tied-up with Allahabad Bank to offer broking services to their
clients, providing us the opportunity to service the large customer
base of the bank. We also entered into a strategic tie up with IDEA
Mobile Commerce for exploring and providing mobile trading and other
Investment services to their clients.
On product, risk and technology front, we developed a wide range of
trader focused research and derivatives offerings and commenced robust
central monitoring of trades and surveillance initiatives
We remain committed to establish a leadership position in the retail
financial services space. Launch of Mobile Invest Pro was one of the
steps in this direction.
ABML''s consolidated income from operations was Rs.8,828.17 lakhs
compared to Rs.11,428.28 lakhs in the previous year. But as it is
rightly said - ''When the going gets tough, the tough gets going'', in
the same period ABML had its market share at an all time high in Retail
Broking across segments.
As we go into the next financial year, we are confident that our
service orientation, values, our expanded footprint and focus on new
avenues and product offering will drive us to emerge as a leader in the
financial services space.