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Muthoot Capital Services Ltd.

BSE: 511766 Sector: Financials
NSE: MUTHOOTCAP ISIN Code: INE296G01013
BSE 00:00 | 21 May 980.45 24.20
(2.53%)
OPEN

945.00

HIGH

989.00

LOW

939.35

NSE 00:00 | 21 May 972.05 21.05
(2.21%)
OPEN

951.00

HIGH

989.00

LOW

938.00

OPEN 945.00
PREVIOUS CLOSE 956.25
VOLUME 1873
52-Week high 1012.00
52-Week low 372.77
P/E 30.04
Mkt Cap.(Rs cr) 1,613
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 945.00
CLOSE 956.25
VOLUME 1873
52-Week high 1012.00
52-Week low 372.77
P/E 30.04
Mkt Cap.(Rs cr) 1,613
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Muthoot Capital Services Ltd. (MUTHOOTCAP) - Chairman Speech

Company chairman speech

Dear Members

It gives me pleasure to present the financial results of the Company for the FY 2016 -2017. Our disbursement for the year was Rs 12 97.82 crores up by 39.90% and our AUMincreased by 38.59% to Rs 14 39.70 crores as compared to the figures of the previousfiscal.In doing so we also achieved significant milestones like South and West crossingRs1000 crores disbursement and Kerala as a State crossing Rs 500 crores disbursement;besides we were awarded "Fastest Growing 2 Wheeler Financiers" and "No. 1Finance Company in Kerala" by Honda Motorcycle and Scooter India Private Limited. Oncollections front in spite of movement from 5M norm to 4M norm for recognition of NPAbesides the severe impact of demonetisation we could keep in check our overall NPAs at Rs74.15 crores which is a remarkable achievement. While we report exciting figures on ourperformance during the FY 2016 - 2017 even more encouraging fact is that there is vastopportunity ahead of us.Two wheeler industry is poised for a strong growth whereby themarket is expected to grow from 1.80 crore units to more than 2.25 crore units by 2020 andthe organized financing opportunity (by Banks and NBFCs) is likely to grow to more than Rs35000 crores by 2020. The above performance has ensured that we are on the path of growthwhich will be improved further during the years to come. We have embarked upon makingourselves future-proof to weather imminent disruptions driven by technology anddigitization. Besides analytics-driven credit and collection decision engines digitalcustomer acquisition strategy low cost distribution capability process and costexcellence are some of the key market winning capabilities for NextGen NBFCs. We havealready embarked on this digital transformation and we believe this is the way forward. Asstated above the Company has embarked on aggressive growth plan and enabling the samerequires capital in any form. Hence the Company has decided to hold back its reserves.The Board of Directors has recommended issuing bonus shares to its members at a ratio of1:10. The proposal is being placed before the Shareholders for their approval. After atenure of almost 9 years with the Company Mr. R. Manomohanan Chief Executive Officerhad resigned from the services effective 28th February 2017. I would like to place onrecord our sincere thanks to Mr. R. Manomohanan for his invaluable contributions for thegrowth of MCSL and wish him the very best in all his future endeavours. Mr. MadhuAlexiouse has joined the Company as Chief Operating Officer on 1st February 2017. Mr.Madhu is a retail finance and insurance professional having a track record of creatingsustainable retail businesses across the country especially in rural India. He hasexpertise in establishing profitable businesses through market share leadership buildingup efficient and cost-effective distribution network managing strategic alliances andmaximizing revenue and earnings. As a leader he has built highly passionate teams acrossthe Country. I thank the entire team at MCSL for their support and contributions andexpect to continue receiving the same in the coming years as well.

I also place on record my gratitude to all the Shareholders for the trust reposed inand the co-operation extended to the Management of the Company and believe the same willcontinue in future too. Let us all move forward with the common aim of promoting ourCompany as a leader in financial services sector with the highest level of professionalManagement.

While we celebrate 130 years of trust we are still young at 130…

Sd/-
Thomas George Muthoot
Managing Director