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Monarch Networth Capital Ltd.

BSE: 511551 Sector: Financials
NSE: N.A. ISIN Code: INE903D01011
BSE LIVE 15:59 | 22 Nov 78.20 0.25
(0.32%)
OPEN

78.00

HIGH

79.90

LOW

76.30

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 78.00
PREVIOUS CLOSE 77.95
VOLUME 18737
52-Week high 94.80
52-Week low 25.05
P/E 25.89
Mkt Cap.(Rs cr) 237
Buy Price 78.20
Buy Qty 241.00
Sell Price 0.00
Sell Qty 0.00
OPEN 78.00
CLOSE 77.95
VOLUME 18737
52-Week high 94.80
52-Week low 25.05
P/E 25.89
Mkt Cap.(Rs cr) 237
Buy Price 78.20
Buy Qty 241.00
Sell Price 0.00
Sell Qty 0.00

Monarch Networth Capital Ltd. (MONARCHNETWORTH) - Chairman Speech

Company chairman speech

NETWORTH STOCK BROKING LIMITED ANNUAL REPORT 2008-2009 CHAIRMAN'S REPORT Dear Shareholders, I have joined the Board of Directors and have been elected as the Chairman in June 2009. I look forward to serving the interests of all stakeholders with the support of the Board alongside guiding the management team to achieve the long-term business objectives of the company. We have had a very difficult 12 months (2008-09) period. Much has been written and read about the breakdown in the U.S. banking system, a plunge in investor confidence, credit crisis in global markets and a severe slowdown of global economic growth. Your company being one of the participants in the financial system, more specifically on the capital markets side, has been adversely affected by the sharp decline in volumes in the Indian stock markets as well as the lack of demand for financial products. In addition, it had to face certain internal challenges on the proprietary trading operations, resultant losses and thereafter few changes in the management. All of those issues have been addressed. A brief on the operations, the restructuring and on the goals for the future has been presented in the Management Discussion and Analysis. India's savings rate of 34% is main driver of growth. Only 6% of these savings get channelized into equities. With hardly 1.4 crore depository accounts yet, which may be nearly 1% of the country's population, the headroom to make financial services available to the larger population in India is unparalleled in the globe. Market players like Networth play a very important role in expanding the reach of financial services, especially investment products. While aiming for the growth of capital markets and the overall financial markets, with which Networth's growth is linked, I believe that some of the key issues require everyone's attention: * The industry, comprising of so many intermediaries who are also distributors of financial products should share a common platform with the regulator in working towards preventing any kind of systemic failure in the markets, but at the same time the industry should engage the regulator to have a pragmatic approach towards the larger operational challenges faced by the intermediaries. * Creation of a large, trained and skilled human pool remains one of the biggest challenges for the industry. A surge in demand for financial products may still not mean sound and sustainable business for intermediaries in absence of a strong chain of advisors, catering to all classes of investors. * Though an excellent regulatory mechanism exists for addressing/settling the grievances against registered intermediaries arising out of a normal financial transaction, on many occasions, investors have chosen alternate forums, including legal forums by filing criminal complaints etc. All this undermines the existing regulatory structure as the intermediaries remain exposed. This even discourages good Professionals from offering their valuable services to the not-so large organizations desirous of getting the best professional Board. Networth remains committed to providing need-based and value-driven service to its customers pan-India and expects to grow its business with its customer-centric approach. The current year and years hereafter should be promising for Networth. On behalf of the Board, I express my gratitude to all of you for your cooperation and continued support. Yours sincerely, R. Sankaran Chairman Date : 29th July, 2009.