AUTORIDERS FINANCE LIMITED
TO THE SHAERHOLDERS
There is an old saying that you Cannot use yesterday's methods and be in
business tomorrow. The truth of thismaxim is hitting businessmen ard
corporate planners with increasing intensity.
Ever since the government pressed the liberalisation button, the automobile
industry has become the feverish focus of global interest. The speed with
which new players are planning their entry has made it imperative for us to
review our strategies in the light of emerging opportunity. As the country's
largest and most successful Rent-a-car company, we are inviting potential for
growth and expansion and the sinews of growth in our line of business are the
customer base, financial capability and an efficient, proactive management
I am happy to say that our customer base has grown from strength to strength
and the pace of innovation (for improved service delivery) has been
agressively maintained. During the last year, we also embarked on new
customerfriendly products which will signal added value in a highly
undifferentiated market place. Both the '3 - MPlan' and the 'Mobiloan '
schemes will, I believe soon become a trend setter for the industry.
In the other vital area offinancial leverage, you will see from thisyear's
balance sheet how we have substantially strengthened the resource base by
build ing in an economical reservoir offunds through the Unit Trust of India
and very soon the FIIs. The fact that these d iscerning investors have chosen
your Company as a repository of substantial equity investment speaks volumes
for the performance and the future expectation.
Finally, on the management front, we intend to further strengthen our
infrastructure and implementa carefully calibrated programme of geographical
As the financial services sectorgears up to the new burgeoning levels of
growth, 'cheaper, faster, better' will be the abiding watch words; and, we
are committed to making these our vision and our corporate mission.
The outstanding results which your Company has produced this year are only a
sign that a lot moregood news is on the way.
(Member of Parliament)