1994 AUTORIDERS FINANCE LIMITED CHAIRMAN'S MESSAGE 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 culture. 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 expansion. 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. PRAFUL PATEL (Member of Parliament) Chairmannn