Regulatory Status

Finchemist Solutions is registered with the Securities and Exchange Board of India (SEBI) as a Research Analyst under Registration No. INH000023117.

There are no pending material litigations or legal proceedings against the Research Analyst.

As on date, no penalties or directions have been issued by SEBI under the SEBI Act or any Regulations made thereunder against the Research Analyst relating to Research Analyst services.

Disclosures with Respect to Research and Recommendations Services

The Research Analyst or any of its officers/employees does not trade in securities which are the subject matter of recommendation.

There are no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/securities, including any material information or facts that might compromise objectivity or independence in carrying out Research Analyst services. Such conflicts, if they arise in future, shall be disclosed to the client as and when they occur.

The Research Analyst or its employees/associates have not received any compensation from the company which is the subject matter of recommendation.

The Research Analyst or its employees/associates have not managed or co-managed the public offering of any company.

The Research Analyst or its employees/associates have not received any compensation for investment banking, merchant banking, or brokerage services from the subject company.

The Research Analyst or its employees/associates have not received any compensation for products or services other than research from the subject company.

The Research Analyst or its employees/associates have not received any compensation or other benefits from the subject company or any third party in connection with the research report/recommendation.

The subject company was not a client of the Research Analyst or its employees/associates during the twelve months preceding the date of recommendation services provided.

The Research Analyst or its employees/associates have not served as an officer, director, or employee of the subject company.

The Research Analyst has not been engaged in market-making activity of the subject company.

Conflict of Interest & Proprietary Positions

Analysts/partners may hold personal/proprietary positions in securities covered in research reports. Any such holding will be specifically disclosed at the time of publication.

A "Chinese Wall" policy is maintained to avoid conflicts between research activities and personal/proprietary trading.

Compensation Disclosure

No part of the compensation of Research Analysts is related to the recommendation or views expressed in research reports.

Compensation of analysts is not linked to investment banking or merchant banking activities.

Intellectual Property

All research material, reports, and data are the property of Finchemist Solutions.

Unauthorized use, copying, or distribution is strictly prohibited.

Risk Disclosure

Securities investments are subject to market risks and price fluctuations.

Past performance of securities or recommendations does not guarantee future results.

Investors are advised to make independent investment decisions and/or consult their financial advisor.

AI Usage

This research report has been prepared by the Research Analyst/Research Entity using publicly available information and data believed to be reliable. Artificial Intelligence (AI) tools may have been used solely for purposes such as data processing, drafting assistance, grammar correction, or summarization.

No AI system has made any investment recommendations, valuations, or forecasts contained in this report. All analysis, opinions, and conclusions expressed are solely those of the Research Analyst and have been independently reviewed and approved in accordance with applicable regulatory standards (such as SEBI Research Analyst Regulations, 2014).

Standard Warning

"Investment in securities market are subject to market risks. Read all the related documents carefully before investing."

Disclaimer

"Registration granted by SEBI, and certification from NISM in no way guarantee performance of the Research Analyst or provide any assurance of returns to investors."

Grievance Redressal

In case of grievances, clients may write to:

Grievance Officer / Compliance Officer

Name: Sagar Vijay Agrawal

Designation: Compliance Officer

Email: grievance@finchemist.com

Phone: +91 8149725003

Address: FINCHEMIST SOLUTIONS, Samruddhi Namrata Apartment, Flat no-8, 4th floor, Plot no-4, New Pandit Colony, Nashik 422002, Maharashtra, India

If unsatisfied with the response, complaints may be escalated to SEBI via the SCORES Portal: scores.sebi.gov.in

Monthly Complaint Data

Grand Total Number of complaints received during month against the RA due to impersonation by some other entity: _____

Note: In case of any complaints received against the RA due to impersonation of the RA by some other entity, the RA may adjust the number of such complaints from total number of received/resolved complaints while preparing the above table. Further, RA must close such impersonation-related complaints after following the due process as specified by SEBI / RAASB.

* Inclusive of complaints of previous months resolved in the current month.
# Inclusive of complaints pending as on the last day of the month.
^ Average Resolution Time is the sum total of time taken to resolve each complaint (in days) in the current month divided by total number of complaints resolved in the current month

Trend of Monthly Disposal of Complaints

* Inclusive of complaints of previous months resolved in the current month.
# Inclusive of complaints pending as on the last day of the month.

Trend of Annual Disposal of Complaints

* Inclusive of complaints of previous years resolved in the current year.
# Inclusive of complaints pending as on the last day of the year.

Grievance Redressal / Escalation Matrix

For any grievances

Step 1: The client should first contact the RA using the details on its website www.finchemist.com or following contact details:

• Contact Mr. Sagar Agrawal – grievance@finchemist.com

Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI's SCORES platform at scores.sebi.gov.in

Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in

Vision and Mission Statements for Investors

Vision: Invest with knowledge & safety.

Mission: Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

Details of Business Transacted by the Research Analyst with Respect to Investors

• To publish research reports based on the research activities of the Research Analyst (RA).
• To provide an independent, unbiased view on securities.
• To offer unbiased recommendations, disclosing financial interests in the recommended securities.
• To provide research recommendations based on analysis of publicly available information and known observations.
• To conduct an annual audit.
• To ensure that all advertisements adhere to the SEBI Advertisement Code for Research Analysts.
• To maintain records of interactions with all clients, including prospective clients (prior to onboarding), where any conversation related to research services has taken place.

Details of Services Provided to Investors (No Indicative Timelines)

Onboarding of Clients

• Sharing of terms and conditions of research services.
• Completing KYC of fee-paying clients.

Disclosure to Clients

• Disclose material information that enables clients to make informed decisions, including business activity details, disciplinary history, terms and conditions, associate details, risks, and conflicts of interest.
• Disclose the extent of use of Artificial Intelligence tools in providing research services.
• Disclose any material conflict of interest when distributing a third-party research report, or provide a web link to the relevant disclosures.
• Disclose any conflict of interest between research services and other business activities.

Other Commitments

• Distribute research reports and recommendations to clients without discrimination.
• Maintain confidentiality of research reports until made public.
• Respect clients' data privacy rights and protect confidential information.
• Disclose service timelines and ensure adherence.
• Provide clear guidance and caution notices when recommending complex or high-risk products.
• Treat all clients with honesty and integrity.
• Ensure confidentiality of client information unless required by law or consented by the client.

Details of Grievance Redressal Mechanism

1. Filing a Complaint with the Research Analyst

Investors can lodge grievances directly with the Research Analyst. The Research Analyst shall strive to redress grievances immediately, but not later than 21 days from receipt.

2. Filing a Complaint via SCORES / RAASB

3. SMART ODR (Online Dispute Resolution)

If unsatisfied with the resolution, investors may file the complaint on the SMARTODR platform for online conciliation or arbitration.

4. Physical Complaints

Investors may also send complaints to:

Rights of Investors

• Right to Privacy and Confidentiality
• Right to Transparent Practices
• Right to Fair and Equitable Treatment
• Right to Adequate Information
• Right to Initial and Continuing Disclosure
• Right to Fair & True Advertisement
• Right to Awareness about Service Parameters and Timelines
• Right to be Informed of Timelines for Each Service
• Right to be Heard and Receive Satisfactory Grievance Redressal
• Right to Timely Redressal
• Right to Exit Services per Agreed Terms
• Right to Clear Guidance and Caution Notices for Complex or High-Risk Products
• Right to Additional Support for Vulnerable or Differently-Abled Investors
• Right to Provide Feedback on Financial Products and Services
• Right against Coercive, Unfair, or One-Sided Contractual Clauses

Expectations from Investors (Responsibilities)

Issued in accordance with SEBI guidelines for Research Analysts (Updated as per latest SEBI circular requirements)

Availing the Research Services

By accepting delivery of the research service, the client confirms that he/she has elected to subscribe to the research services of the Research Analyst (RA) at his/her sole discretion. The RA confirms that research services shall be rendered in accordance with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014 ("RA Regulations") and other applicable laws.

Obligations on Research Analyst

The RA and the client shall be bound by the SEBI Act, 1992 and all applicable rules, regulations, and circulars issued by SEBI, including the RA Regulations and relevant Government notifications, as may be in force from time to time.

Client Information and KYC

The client shall furnish all required details in full, as may be mandated by the RA, supported by documents and information as may be prescribed by SEBI or the Research Analyst Administration and Supervisory Body (RAASB) from time to time. The RA shall collect, verify, upload, and maintain KYC records of clients with the SEBI-registered KYC Registration Agency (KRA) in accordance with SEBI requirements.

Standard Terms of Service

Client Declaration:

"I/We have read and understood the terms and conditions applicable to a Research Analyst as defined under Regulation 2(1)(u) of the SEBI (Research Analysts) Regulations, 2014, including the fee structure. I/We are subscribing to the research services for our own benefit and consumption, and any reliance placed on the research report provided by the Research Analyst shall be as per our own judgement and assessment of the conclusions contained therein. I/We understand that:

• Any investment made based on the recommendations in the research report is subject to market risk.
• Recommendations in the research report do not provide any assurance of returns.
• There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report."

Declaration by the Research Analyst:

• The RA is duly registered with SEBI as a Research Analyst pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: (Registration Number, Registration Date).
• The RA possesses valid registration and qualifications required to render research services under the RA Regulations.
• The research services provided do not conflict with or violate any law, rule, regulation, contract, or instrument applicable to the RA.
• The maximum fee that may be charged by the RA is ₹1,51,000 per annum per family of client.
• Recommendations provided by the RA do not guarantee or assure any returns.

If RA is an individual: The RA declares that he/she is not engaged in any additional professional or business activities on a whole-time or executive basis which may interfere with or influence the independence of research or recommendations.

Consideration and Mode of Payment

The client shall pay the agreed fees and statutory charges as applicable to the RA through permitted modes such as cheque, bank transfer, or UPI. All payments shall be made in accordance with the manner and mechanisms specified by SEBI or RAASB.

Risk Factors

Investments in securities are subject to market risks, including possible loss of principal. Past performance is not indicative of future returns. (The RA shall include a detailed statement covering standard investment risks.)

Conflict of Interest

The RA shall comply with SEBI's applicable regulations and circulars relating to identification, disclosure, and mitigation of any actual or potential conflict of interest. (The RA shall include a detailed statement of mandatory disclosures here.)

Termination of Service and Refund of Fees

The RA may suspend or terminate research services in case of suspension or cancellation of its SEBI registration. In such case, the RA shall refund the residual amount to the client on a pro-rata basis from the effective date of suspension/cancellation until the end of the subscription period. If suspension continues beyond 60 (sixty) days or registration is cancelled, refund shall be made accordingly.

Grievance Redressal and Dispute Resolution

Clients may escalate grievances such as non-receipt of research reports, missing pages, download issues, or any service deficiencies to the designated person of the RA.

For complaints or grievances, clients may contact:

The RA shall resolve grievances within 7 (seven) business days or as prescribed by SEBI.

Escalation Steps:

• Step 1: Contact the RA through the details provided on its website.
• Step 2: If unresolved, lodge complaints through SEBI's SCORES platform — www.scores.sebi.gov.in
• Step 3: Clients may also use Online Dispute Resolution (ODR) via https://smartodr.in

Additional Clauses

Any additional voluntary clauses included by the RA must not contravene SEBI's rules, regulations, or circulars. Any amendment to such clauses shall be preceded by at least 15 days' prior notice to clients.

Mandatory Notice to Clients

Clients are advised to go through SEBI's "Do's and Don'ts while dealing with Research Analysts" as per SEBI Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, or as updated from time to time.

Most Important Terms and Conditions (MITC)

• The Research Analyst (RA) provides only research services and is not authorized to execute or carry out trades on behalf of clients. Clients are advised not to permit the RA to execute any purchase or sale transactions.
• The fee charged by the RA shall be subject to the maximum amount prescribed by SEBI or RAASB:
  • Current limit – ₹1,51,000 per annum per family for all research services.
  • The fee limit does not include statutory charges.
  • Fee limits do not apply to non-individual clients or accredited investors.
• The RA may charge fees in advance if agreed by the client; such advance shall not exceed one quarter. In case of premature termination by either party, the client shall receive a pro-rata refund for the unexpired period.
• Fees shall be paid only through permitted modes (cheque, online transfer, UPI, etc.). Cash payments are not permitted. Clients may optionally use the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (recognized RAASB).
• The RA shall disclose and mitigate any actual or potential conflicts of interest in accordance with SEBI and RAASB norms.
• Assured / guaranteed / fixed return schemes or similar offerings are strictly prohibited.
• The RA cannot guarantee returns, profits, or accuracy of predictions. All opinions and estimates are based on analysis of available data and assumptions as of the publication date.
• Investments based on research recommendations are subject to market risks. There is no assurance of returns and no recourse for losses.
• SEBI registration, enlistment with RAASB, or NISM certification do not guarantee performance or returns.
• Grievance Redressal:
  • Step 1: Contact the RA using the details provided.
  • Step 2: Escalate to SEBI via www.scores.sebi.gov.in
  • Step 3: Optionally, use Smart ODR Portal — https://smartodr.in
• Clients must keep their contact details (email and mobile) updated with the RA at all times.
• The RA shall never ask for clients' login credentials or OTPs of their trading, demat, or bank accounts. Clients should never share such information.

Optional Centralised Fee Collection Mechanism (CeFCoM)

The RA shall guide clients regarding the optional Centralised Fee Collection Mechanism (CeFCoM) for payment of fees, managed by BSE Limited (RAASB).

Objective

This Privacy Policy explains how Finchemist Solutions ("we", "our", "us") collects, uses, stores, and protects the personal information of clients, prospective clients, and users of our research services, in compliance with applicable laws and SEBI (Research Analysts) Regulations, 2014.

Information We Collect

We may collect and process the following categories of information:

• Personal Information: Name, contact details (phone, email, address), PAN, KYC documents, etc.
• Professional Information: Occupation, investment profile, preferences, financial objectives.
• Usage Data: Information regarding access to our website, emails, or research reports.
• Regulatory Information: Any documents required under SEBI, Exchanges, or other applicable laws.

Purpose of Collection

Your information is collected and used for:

• Providing research services and delivering research reports.
• Complying with regulatory and legal requirements.
• Maintaining client records and communication.
• Responding to queries, complaints, and grievances.
• Improving quality of our research services.

We do not sell, trade, or rent personal information to third parties.

Data Sharing & Disclosure

We may share information only in the following cases:

• With regulatory authorities (SEBI, Exchanges, or law enforcement) if required under law.
• With service providers engaged for IT, data storage, or compliance support (bound by confidentiality obligations).
• As part of legal proceedings or to protect our rights.

Data Security

We implement reasonable technical and organizational measures to safeguard your personal data against unauthorized access, misuse, alteration, or loss.

Data Retention

We retain personal information for as long as necessary:

• To provide services;
• To comply with legal and regulatory requirements; and
• For legitimate business purposes.

Your Rights

Clients have the right to:

• Access their personal information held by us.
• Request correction or update of inaccurate information.
• Withdraw consent for processing (subject to regulatory requirements).
• File complaints in case of misuse or unauthorized access.

Grievance Redressal Contact

For any concerns regarding this Privacy Policy or your personal information, you may contact:

Policy Updates

This Privacy Policy may be updated periodically to reflect changes in regulatory requirements or internal practices. Any updates will be published on our website.

Introduction

This document outlines the Anti-Money Laundering (AML) Policy of FinChemist Solutions, a SEBI-registered Research Analyst (Firm Registration Number: INH000023117, BSE Enlistment: 6682). This policy complies with the Prevention of Money Laundering Act, 2002 (PMLA), its rules, and SEBI guidelines, including the SEBI Circular dated February 17, 2025. It ensures that FinChemist Solutions's operations, including services like Intraday Trading, Swing Trading, Research Reports, and IPO Analysis, are not misused for money laundering or terrorist financing activities.

Objective

The objective of this policy is to establish a robust framework for detecting and reporting suspicious transactions while ensuring compliance with applicable laws and regulations. This policy covers:

• Policy for acceptance of clients.
• Procedure for identifying clients.
• Transaction monitoring and reporting, especially Suspicious Transactions Reporting (STR).
• Client Due Diligence (CDD) Process

Policy for Acceptance of Clients

No accounts will be opened in fictitious or anonymous names.

Accounts will not be opened if adequate client due diligence (KYC) measures, including PAN card verification, cannot be applied.

All clients must be KYC registered and provide valid documentation as mandated by SEBI.

Client identities will be verified against SEBI's list of banned persons/entities and stock exchange records.

Risk assessments will be conducted, including checks against sanctions lists maintained by United Nations Security Council Resolutions.

Procedure for Identifying Clients

Client identities will be verified using reliable sources to ensure accurate and complete KYC details, including PAN card and address proof.

Any discrepancies in documentation will be escalated to the Compliance Officer for resolution.

Client records will be updated regularly to comply with SEBI's requirement for KYC updates by June 30, 2025, for existing clients.

Maintenance of Records

All client records, including KYC documents and transaction details, will be maintained for a minimum of 10 years or until the resolution of any regulatory action, as per SEBI and PMLA guidelines. Records will be securely stored at the office address mentioned above.

Monitoring and Reporting of Transactions

Roles and Responsibilities