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Choice International Ltd.

BSE: 531358 Sector: Financials
NSE: N.A. ISIN Code: INE102B01014
BSE LIVE 11:17 | 09 Dec 48.70 3.00
(6.56%)
OPEN

48.70

HIGH

48.70

LOW

48.70

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 48.70
PREVIOUS CLOSE 45.70
VOLUME 5
52-Week high 66.80
52-Week low 31.00
P/E 9.02
Mkt Cap.(Rs cr) 48.70
Buy Price 46.10
Buy Qty 50.00
Sell Price 48.70
Sell Qty 25.00
OPEN 48.70
CLOSE 45.70
VOLUME 5
52-Week high 66.80
52-Week low 31.00
P/E 9.02
Mkt Cap.(Rs cr) 48.70
Buy Price 46.10
Buy Qty 50.00
Sell Price 48.70
Sell Qty 25.00

Choice International Ltd. (CHOICEINTL) - Chairman Speech

Company chairman speech

Chairman Statement

Dear Stakeholders

I am very pleased to present the 21st Annual Report of our company which contains acompilation of the financial performance of our businesses and a brief description of thevalues beliefs and practices that shape our company.

The year 2013-14 was one of the most challenging for the Indian economy with India'sGDP growing below the psychological 5% level for the second successive year with highinflationary pressure rupee dipping to life time lows with large current account deficitand indications of tapering by US Federal Reserve. Being a holistic Financial ServiceCompany this naturally impacted our business.

Even though the financial year continued to witness the constraints that have hamperedthe economy in last couple of years. On the positive side our Company has done wellwhich in these turbulent times is commendable. Choice's objective is to accelerate acultural shift to address significant opportunities. On the one hand we verticalised themarketing function; on the other we recognized that unless we worked with a highoperating efficiency it was likely that the objectives behind the verticalisation wouldnot be achieved. We have the widest basket of products in India's financial servicessector. What we are essentially doing is creating a product-specific company reachingdeeper and wider into national pockets that commercial banks find difficult to access. Inthis product-specific company what we are building is a distribution pipeline to thecustomer through which we keep pushing an increasing number of products.

Close to 40 percent of the SME segment's financial demands are met by informal sourcesof finance at a high cost. Based on a recent study close to 43 percent of existing bankcustomers also count on informal sources of finance. CIL through its distinctiveproposition robust underwriting model and processes coupled with strong monitoringmethodology is targeting this segment. We expect significant growth in this segment in thecoming financial year.

Capital Markets businesses have over the last three years seen a fundamental shift inindustry structure; greater volatility has become order of the day and customers havebecome more discerning. We have transformed our Retail Broking business into an agileorganization having low fixed costs and embracing technology in all aspects of itsoperations thereby enabling it to benefit substantially during the cyclical upswings. TheRetail Broking Institutional Equities Investment Banking and Wealth Managementbusinesses have been brought under a common roof to help better utilize client productand distribution capabilities of the businesses.

The demand for analytics professionals in the knowledge process outsourcing (KPO]centers across the country would grow exponentially in the coming years 'Today analyticshas moved from the backroom to boardroom and is fuelling the demand for managers withanalytical skills"

The Company today is inundated with a talent pool eager to explore opportunities invarious fields. We keep getting new business ideas and suggestions to expand our productportfolio. Each idea or proposal is meticulously evaluated. Entrepreneurship innovationand initiative are the driving forces of your Company. Our aim is to stay ahead ofcompetition and for that fresh ideas must keep coming. We realize the growing importanceof technology and how in coming times it can emerge to be the key differentiation.Therefore to stay ahead of competition our investment in training and knowledgeacquisition is now being supplemented by investing in technology. Most of tomorrow'sinnovations will be technology-driven.

Before I conclude I would like to express my gratitude towards all the stakeholderswho have reposed trust in us and extended their constant support the dedicated team ofemployees and the Board of Directors for their unwavering support and guidance.

We look forward to your continued support in our future journey.

Thank you

Sd/-

Kamal Poddar

Managing Director

DIN:01518700

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