ORBIS FINANCIAL CORPORATION Unlisted Shares

Annual Report Summary

Orbis Financial Corporation Limited (Orbis) 17th Annual Report for the year ended March 31, 2023, highlights its dedication to securities services and its role as a financial services company committed to investor servicing across several verticals, including custody & fund accounting, equity and commodity derivatives clearing, currency derivatives clearing, registrar and transfer agency, and trustee services. Established in 2005, Orbis is headquartered in Gurugram, Haryana, and has a marketing office in Mumbai, Maharashtra. It recently expanded its presence in GIFT City, Gujarat, to strengthen its global reach. The company operates on a 'zero conflict' business platform and serves a diverse range of investors, including FPI, FDI, Mutual Funds, Endowments & Trusts, High Networth Individuals, AIFs, Stock Brokers, Private Bankers and Portfolio Managers.

Key aspirations for Orbis include maintaining leadership in AIFs & PMS custody, growing its RTA business, scaling the trustee business, capturing GIFT City opportunities, and increasing focus on foreign territories for inbound India investments. Several milestones were noted, including SEBI granting a certificate of registration as a Designated Depository Participant in 2013, crossing the 100 custody clients mark in 2014, becoming a profit-making company in FY16, commencing its CSR initiative in 2017, becoming a clearing member in all market segments in 2018, crossing 1,000 custody clients mark in 2019, assets under custody increased to Rs. 10,000 crores in March 2020, maiden Dividend in FY20, an additional round of capital raising of Rs. 112 crores in January 2023, and assets under custody increasing to INR 81,160 crores as of March 31, 2023.

Orbis Financial Corporation Limited’s financial highlights for the year ended March 31, 2023 (consolidated) show a significant increase in financial performance. Revenue from Operations grew to INR 296.67 crore from INR 154.18 crore in the previous year. The Profit After Tax stood at INR 89.57 crore compared to INR 47.84 crore the year before. The Directors recommended a dividend of Rs. 0.80 per equity share. During the year the company issued capital amounting to Rs. 16.21 crores and allotted 31,04,100 equity shares pursuant to exercise of stock options.

The Directors' Report outlines the company's affairs, dividend recommendation, equity share capital changes, subsidiary information (Orbis Trusteeship Services Private Limited (OTSPL)), registrar and transfer agent (Skyline Financial Services Private Limited), deposit status, borrowings (bank guarantees of Rs. 400 crores), credit rating ("ICRA A-" for long-term and "ICRA A2+" for short-term facilities), risk management, and CSR initiatives. These include scholarships to students, contributions to leprosy welfare, support for healthcare (Arpana Research & Charities Trust), assistance to stray animals (Friendicoes), and distribution of utility items to widows in Vrindavan. A sum of Rs. 65.93 Lakhs was spent on CSR activities, which included financial support to Purkal Youth Development Society and John Martyn Memorial School. The report also details human resource information, employee particulars, prevention of sexual harassment at the workplace, particulars of loans, guarantees, or investments, and contracts with related parties. The directors affirmed compliance with applicable secretarial standards and included a responsibility statement attesting to the integrity and accuracy of the financial statements.

The report also provides information on board evaluation, directors and meetings, disclosures from independent directors, board meetings, and committees of the board (Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Management Committee, and Risk Management Committee). Other key aspects covered are the vigil mechanism/whistle blower policy, annual return, significant and material orders passed by regulators, material changes affecting financial position, corporate governance, statutory auditors (MSKA & Associates), secretarial auditor (Pankaj Nigam & Associates), and internal auditor (Ravi Rajan & Co. LLP). Finally, the report includes an acknowledgment of support from various regulatory authorities, stakeholders, and employees.