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63 Moons Technologies Ltd.

BSE: 526881 Sector: IT
NSE: 63MOONS ISIN Code: INE111B01023
BSE 13:41 | 22 Aug 105.75 8.70
(8.96%)
OPEN

101.00

HIGH

106.75

LOW

99.75

NSE 13:34 | 22 Aug 105.60 8.00
(8.20%)
OPEN

99.95

HIGH

107.35

LOW

99.25

OPEN 101.00
PREVIOUS CLOSE 97.05
VOLUME 69551
52-Week high 185.00
52-Week low 62.20
P/E
Mkt Cap.(Rs cr) 488
Buy Price 105.20
Buy Qty 5.00
Sell Price 105.45
Sell Qty 119.00
OPEN 101.00
CLOSE 97.05
VOLUME 69551
52-Week high 185.00
52-Week low 62.20
P/E
Mkt Cap.(Rs cr) 488
Buy Price 105.20
Buy Qty 5.00
Sell Price 105.45
Sell Qty 119.00

63 Moons Technologies Ltd. (63MOONS) - Chairman Speech

Company chairman speech

CONVERTING CHALLENGES INTO GROWTH OPPORTUNITIES

Your Company has been in the eye of a storm ever since the payment default occurred atone of the subsidiaries the National Spot Exchange Limited (NSEL). Challenges have neverbeen new to your Company and 2017 was no diffierent. The journey has been a roller-coasterride but despite that we have continued to be on our path of entrepreneurial innovationstanding tall weathering every rough terrain that came our way.

As you are aware various unprecedented actions have been taken against your Companylike forcing it to exit the Exchange space by declaring it "not a fit andproper" ordering it to merge with NSEL and the subsequent move to change itsmanagement and that too without running any evidence-led trial.

Despite these daunting situations your Company has remained as zealous as it wasbefore the NSEL payment default and has continued with the same spirit of innovationwithout retrenching a single employee. Your Company has also fully cooperated with all theinvestigative agencies. As such it is unfortunate that your Company continues to berepeatedly harassed hounded and targeted through various executive actions merely on thebasis of perceptions and without going into the depth of the truth.

As regards the forced merger of your Company with NSEL as sought by the Ministry ofCorporate Afiairs (MCA) your Company has moved the Hon'ble Supreme Court on the groundsthat such a move threatens the sacrosanct concept of limited liability in the Company Lawby lifting the corporate veil and that too without any evidence-led trial which willadversely impact investment fiow into India by way of domestic investments FDIs FIIs.The Hon'ble Supreme Court has been pleased to continue the interim protection granted bythe Hon'ble Bombay High Court against the implementation of merger order.

As you already know your Company has empowered India with 25 lakh jobs and positivelyimpacted approximately 1 crore livelihoods through its path-breaking ventures like ODINthe brokerage trading terminal and lifeline of Indian markets which has a record marketshare of over 85% and recently completed glorious 20 years.

Your Company's journey towards creating IT-driven innovations continues unabatedwith focus on client servicing and new product development that will lead to growth andcreate value for its shareholders. The mainstay of your Company remains its strong balancesheet robust infrastructure and eficient human capital. It is because of these factorsthat your Company is a virtually zero-debt Company which created a vast businessecosystem without any tax incentives loans or favors from the government besides payingmore than Rs 2000 crore in taxes. We believe our business acumen exhaustive technologyexpertise and the perseverance to succeed will transform our ventures into globallyrenowned robust and successful systems.

Given an opportunity your Company is competent enough to create a business model bybecoming technology innovation partners to enable 108 new digital disrupters in 12verticals across all sectors. As ideators innovators and change agents we are sure abright future awaits us. Amidst all this turbulence your Company's spirit remains intactand it stands tall because it has immense faith in the law of the land and believes thattruth will ultimately prevail.

VENKAT CHARY

Chairman Independent Non-executive Director

63 moons technologies limited