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Ashika Credit Capital Ltd.

BSE: 590122 Sector: Financials
NSE: N.A. ISIN Code: INE094B01013
BSE LIVE 10:43 | 14 Nov 28.80 0.55
(1.95%)
OPEN

28.80

HIGH

28.80

LOW

28.80

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 28.80
PREVIOUS CLOSE 28.25
VOLUME 310
52-Week high 35.05
52-Week low 25.00
P/E
Mkt Cap.(Rs cr) 20
Buy Price 28.80
Buy Qty 72591.00
Sell Price 0.00
Sell Qty 0.00
OPEN 28.80
CLOSE 28.25
VOLUME 310
52-Week high 35.05
52-Week low 25.00
P/E
Mkt Cap.(Rs cr) 20
Buy Price 28.80
Buy Qty 72591.00
Sell Price 0.00
Sell Qty 0.00

Ashika Credit Capital Ltd. (ASHIKACREDIT) - Chairman Speech

Company chairman speech

Dear Shareholders

Global recovery in FY16-17 remained fragile amidst slowdown in trade rising tendencytowards protectionism and slower growth in productivity. Global financial markets continueto face elevated levels of uncertainty notwithstanding the resilience exhibited inovercoming the outcomes of Brexit referendum and the US presidential election.

While the unconventional monetary policy measures have so far fallen short of achievingtheir intended objectives the central banks in advanced economies are unlikely to endthem abruptly because of the concerns on potential impact on financial stability andlimited scope for alternative measures on fiscal front. However financial markets wouldcontinue to grapple with headwinds from uptick in US interest rates.

For NBFC sector it was another difficult year adhering to tight provisioning normsfrom RBI. It is mandatory for all NBFCs now to maintain a Net Owned Fund of Rs. 2 croresby the end of 2017 and various other measures towards Non performing assets came intoeffect.

According to the Reserve Bank of India's (RBI) Financial Stability Report NBFC loansexpanded 16.6% in the year twice as fast as the pedestrian credit growth of 8.8% acrossthe banking sector. The aggregate balance sheet of the NBFC sector expanded 15.5% infiscal 2016 in comparison to 15.7% from the previous year. The profitability of NBFCs wassignificantly higher as compared to the commercial banks.

ACCL faced a challenging year but capitalized all its resources to turn intoprofitable period. In the year ending 31st March 2017 the company earned Rs.36492905/- on Interest income advisory services fees. These considerable decisionsraised revenue by 70.54%. Earning per share stood to Rs 2.69. There was also an Increasein short term secured loans by 594%yoy to Rs. 157971165/- and an Increase in short termunsecured loans by 31.23%yoy to Rs. 170303955/-.

Looking ahead for FY 2017-2018 we will capitalize on the improving demand and look toimprove the performance of the company. Despite of challenging environment I'm proud ofthe way the company has delivered its performance which is exhibited in the improvement infinancial performance.

I wish the team and working staff greetings of success. The board joins me inexpressing our deep appreciation to all the Shareholders Employees and management teamfor the support co-operation and understanding for the decisions that have been madethroughout. The management is conscious of your increasing expectations and is gearing tofulfill the same. We remain committed in creating long term value for our stakeholders.

Regards

PAWAN JAIN

Chairman