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Wall Street Finance Ltd.

BSE: 511147 Sector: Financials
NSE: N.A. ISIN Code: INE549D01012
BSE LIVE 09:54 | 23 Oct 33.10 0
(0.00%)
OPEN

33.10

HIGH

33.10

LOW

33.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 33.10
PREVIOUS CLOSE 33.10
VOLUME 150
52-Week high 42.40
52-Week low 23.30
P/E 59.11
Mkt Cap.(Rs cr) 38
Buy Price 33.10
Buy Qty 10.00
Sell Price 0.00
Sell Qty 0.00
OPEN 33.10
CLOSE 33.10
VOLUME 150
52-Week high 42.40
52-Week low 23.30
P/E 59.11
Mkt Cap.(Rs cr) 38
Buy Price 33.10
Buy Qty 10.00
Sell Price 0.00
Sell Qty 0.00

Wall Street Finance Ltd. (WALLSTREETFIN) - Chairman Speech

Company chairman speech

Dear Shareholders

I am honoured and privileged at this opportunity to connect for the first time with youas Chairman through this 29th Annual Report of the Company.

"The great thing in this world is not so much where you stand as in whatdirection you are moving.’’-Oliver Wendell Holmes

I believe that today your Company is moving in the right direction as financialservices open up in our country. The Indian Economy is on a recovery path. All the majorresearch reports including the one by IMF pegs Indian Economy to grow at 7.3% to 7.8%.Your Company's fortune are tied to two main indicators of economy Firstly Inwardremittances and secondly travel and tourism.

For the first time in six years foreign exchange remittances into India fell to $68.9billion in 2015 from $70.40 billion in 2014 largely due to a 2.2% drop in inflows from theGCC. The oil producing countries are facing real economic challenges with the drop inglobal crude prices. The inflows to India and other developing countries may fall furtherdue to continuing weak oil prices. Inflows from GCC govern almost 65% of remittances thatpass through your Company.

Your Company has done well in the cash to cash inward remittance space and hasprocessed 17.34 Lakhs transactions with a gross value of Rs. 3935 Crores. Your Companycontinues to grow this business by addition of sub agents. It has added approximately 1200points of sale locations across the country focussing more on the growing markets of UttarPradesh and Bihar.

The pace at which Indians are travelling outside the country either for work or leisureis going up. By all estimates the industry continues to grow at 10-12% p.a. across bothcorporate and leisure travel. Your Company has grown very strongly in this business andhas established itself as a reputed player in this market. It is now ranked amongst thetop 10 AD-II players in the country. The Company achieved a total turnover of Rs. 2062Crores in this business and has added more than 300 clients.

The Fintech Opportunity

Over the last few years the Government has been rolling out certain technology enabledinitiatives which are now coming together to create a unique and transforming opportunity.An Indian resident is now identified through a common and biometric enabled identity proofcalled Aadhaar. Morethan 100 Crs. + Indians have been enrolled in Aadhaar. This enablese-KYC that is paperless identification of a person. This also enables AEPS (AadhaarEnabled Payment System) using which Indians can take cash out of their account at anearby counter without the need of an ATM card or an ATM. These initiatives along withBBPS (Bharat Bill Payment System) MACH (National Automated Clearing House) UPI (UnifiedPayment Interface) etc. will enable financial inclusion a reality by making reach of smallticketfinancial services a viable proposition.

Your Company's strength lies in a well established sub agent network of 6000 countersand 37 licensed branches enabling a transaction flow of approx. 4000 Crs. per annum andgiving access to millions of customers. This network will now be in a position to offer alarger suite of financial services which is becoming a real opportunity because of theemerging technology enabled eco-system. Your Company also has the benefit of strategicaccess to this new age infrastructure through a group Company which has the necessarytechnology and licenses in place.

I invite you all to join me in taking this exciting journey forward and transformingWall Street into a digital financial services play. I would like to thank all ourcustomers partners employees and most importantly you our shareholders for yourcontinued support and trust in the Company.

Dilip Modi

Chairman