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F Mec International Financial Services Ltd.

BSE: 539552 Sector: Financials
NSE: N.A. ISIN Code: INE108T01013
BSE 00:00 | 27 Jan 5.21 0.24
(4.83%)
OPEN

5.21

HIGH

5.21

LOW

5.21

NSE 05:30 | 01 Jan F Mec International Financial Services Ltd
OPEN 5.21
PREVIOUS CLOSE 4.97
VOLUME 25
52-Week high 5.21
52-Week low 3.57
P/E 13.71
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 5.21
CLOSE 4.97
VOLUME 25
52-Week high 5.21
52-Week low 3.57
P/E 13.71
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

F Mec International Financial Services Ltd. (FMECINTLFIN) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me immense pleasure to inform you that the Company has successfully completedtwenty five years in one of the world's most attractive economies India. The economy grewby 6.8% during FY 2018-19 despite global headwinds. The Government's consistent focus oninfrastructure creation enhanced budgetary and non-budgetary support to revamp the ruraleconomy accommodative monetary policy by the Reserve Bank of India (RBI) gradual upswingin investment in the private sector are catalysing this growth.

FY 2018-19 was a mixed year for the overall financial services sector in India. Amidescalating sector- specific challenges better governed NBFCs continued to fortify theirmarket position. It was no doubt a wake-up call for many sector players. However webelieve better governed NBFCs have a promising future ahead owing to three specificreasons: focus on providing customized financial solutions to the under-banked sections ofthe population lower cost of last-mile delivery and specialized underwriting andcollection skills driven by region-specific insight.

At F mec International Financial Services Limited we focus on delivering sustainablevalue to our customers and the wider fraternity of stakeholders despite challenges suchas industry volatilities or economic hardships. Our first priority is building long-termsustainable relationships with our customers by providing highest quality customer servicein a prompt and efficient manner.

Despite operating in a challenging macro environment and with new Management in theCompany comprising of young blood FY 2018-19 was a satisfying year for the Company. TheTotal Revenue of the Company has taken a considerable hike by INR 73.70 Lakhs as comparedto previous year. In commensuration of the said increase the Company has been successfulin disbursing loans by reaching to wider number of persons resulting an increase in LoanBooks of the Company by INR 1307.76 Lakhs. Hence we can safely state that the Company hasbeen able to play an instrumental role in catering to the financial needs of it'scustomers in specific and of the economy in general.

In the upcoming Financial Year 2019-2020 we tend to focus on "Reinforcing growthto technology" by digitizing our internal processes and service offerings. Weenvision to create digital platform for providing value added services to our customersand at the same time ensuring more transparency in loan disbursal processes.

On behalf of the Board of Directors and the entire leadership team I thank all mycolleagues at F mec International for their hard work and commitment. I am also gratefulto all our stakeholders for their continued guidance and support.

Mr. Apoorve Bansal

Managing Director

.