06 September 2024
Financial Performance:
For FY24, the company reported a notable increase in total income, reaching Rs. 431.42 Cr, which represents a 43.91% growth from the previous year's Rs.299.78 Cr. Profit After Tax (PAT) also saw substantial growth, rising by 57.48% to Rs.141.28 Cr from Rs.89.57 Cr in FY23. Assets Under Custody (AUC) surged to Rs 1,23,440.88 Cr, marking a 52.10% increase and indicating growing investor confidence. The company's net worth increased to Rs.688.22 Cr, and Earnings Per Share (EPS) improved to Rs.12.16, up from Rs.8.95 in the prior year, highlighting enhanced profitability.
Operational Developments:
The company has successfully expanded its client base to 3,696 custody clients, including 1,942 shareholders, demonstrating its extensive market reach. Strategic initiatives have prioritized digital transformation and customer-focused solutions, with Orbis ensuring 100% compliance with SEBI and RBI regulations, including cyber resilience standards. The integration of AI has significantly improved decision-making, operational efficiency, and fraud prevention, utilizing AI-powered data insights, predictive analytics, and advanced risk management techniques. Additionally, the company has bolstered its fraud prevention measures with enhanced threat intelligence, rapid AI testing, and a strong emphasis on client-centric fraud prevention, ensuring a seamless user experience.
Strategic Investments and Growth:
The company raised approximately Rs. 102 Cr through the issuance of equity shares, boosting its financial stability and growth potential. Additionally, Orbis has expanded its footprint by establishing operations in GIFT City, Gujarat. This move is designed to enhance its global outreach and provide a competitive advantage in the financial and technology sectors.
Future Outlook:
Orbis plans to continue investing in technological innovation, expanding its market presence, and driving sustainable growth. The company's strategic focus remains on enhancing service offerings and maintaining high standards of corporate governance.
