WHOLE-TIME DIRECTOR'S MESSAGE
Dear Valued Shareholders
As I put down these words the world continues to recover from the biggest challenge offinancial social and health crisis we may witness in our lifetime. The toll that COVID-19 pandemic has taken is making economies plunge into a recession like never before.While the return to any sort of normalcy rests solely on concerted efforts globallytowards vaccination of all our journey till then is one of caution which follows mandatedprotocols and common sense.
Having lived through economic crisis before most of us have adapted and evolved asindividuals organizations and as a country. I am sure like we have risen and overcomeadversities in the past we will overcome the COVID-19 catastrophe and while the next fewmonths are precarious and uncertain it will favor organizations who reengineer rebuildand recreate long term sustainable business growth models.
During this crisis EBIXCASH has been working towards consolidating infrastructure anddigitizing processes to prepare itself for future after pandemic wherein EbixCash WorldMoney has 14 counters available at Mumbai Kochi and Hyderabad airport with 18 branchesacross India. EbixCash group operate airport foreign exchange business which operate at75+ counters pre covid scaled down to 39 counters across Delhi Mumbai Chennai andKolkata international airports along with 130+ branches in 69 cities scaled down to 55cities with 77 branches and presence at 12 seaports conducting a total of $4.8 billion ingross transaction value pre-covid and the inward remittance business of approx. $7.2billion gross annual remittance pre COVID makes us the undisputed leadership position inIndia
The infusion of new ideas products and business processes has transformed theorganization setting it on a path of expansion and innovation we will be introducing newways of doing business that will give us a distinct identity and allow us to consistentlyachieve and maintain an edge with regards to our research innovation and progress.
On behalf of the Board of Directors I am pleased to share that for FY21 the Companyearned net profit of Rs. 4077.81 Lakhs as compared to profit of Rs. 3919.05 Lakhs in FY2020. However the total income of the Company is Rs.113683.32 Lakhs as compared to FY2021 total income of Rs.591581.4 Lakhs .
I would like to take this opportunity to thank the members of the Board and theManagement for their priceless insights and the dedicated employees for theircontribution towards creating industry benchmarks and building the brand to where itstands today.
I would like to thank all the stakeholders for their continued support in achievingthis feat for the company which I am confident is only going to gain pace in the yearsto come.
With best wishes
GURUPRASAD T. CHANDRASHEKARAN