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IIFL Securities Ltd.

BSE: 542773 Sector: Financials
NSE: IIFLSEC ISIN Code: INE489L01022
BSE 12:17 | 07 Dec 91.35 3.45
(3.92%)
OPEN

92.90

HIGH

93.85

LOW

89.40

NSE 12:09 | 07 Dec 91.45 3.65
(4.16%)
OPEN

92.00

HIGH

94.80

LOW

89.25

OPEN 92.90
PREVIOUS CLOSE 87.90
VOLUME 36120
52-Week high 128.55
52-Week low 41.95
P/E 15.20
Mkt Cap.(Rs cr) 2,773
Buy Price 91.10
Buy Qty 5.00
Sell Price 91.35
Sell Qty 626.00
OPEN 92.90
CLOSE 87.90
VOLUME 36120
52-Week high 128.55
52-Week low 41.95
P/E 15.20
Mkt Cap.(Rs cr) 2,773
Buy Price 91.10
Buy Qty 5.00
Sell Price 91.35
Sell Qty 626.00

IIFL Securities Ltd. (IIFLSEC) - Chairman Speech

Company chairman speech

Chairman and Managing Director's Message

We see our customers as invited guests to a party and we are thehosts. It's our job every day to make every important aspect of the customerexperience a little bit better."

This is the mantra we live by. Our focus on understanding the needs ofour customers and catering to them in the best possible manner continues to hold us ingood stead. Increasingly we are providing customers with varied solutions on multipleplatforms using channels of their choice. Our apps IIFL Markets and Advisor AnytimeAnywhere (AAA) are used extensively for uninterrupted service. We open accounts using acompletely digital mode and offer all our products on an open architecture model. Withthis we are living our purpose of ‘Always putting customers first and empoweringthem with the right tools and information'. Today our full suite of financialsolutions across physical and digital platforms enables us to create superior customerexperiences.

COVID-19 has left an InDelIble mark

The COVID-19 pandemic has left economies businesses and societiescounting the costs with the lockdown impacting lives and livelihoods significantly.Domestic demand and exports plummeted sharply and financial markets went through extremevolatility in the first half of the year. However the second half witnessedbetter-than-expected economic recovery. The Reserve Bank of India (RBI) adopted anaccommodative stance and worked proactively to ensure sufficient liquidity within thesystem. The Government made several positive announcements in the Union Budget to propelgrowth of multiple sectors. Foreign institutional investors (FII) inflows remained buoyantduring the year providing strong support. Nifty 50 started the year at around 8598levels and ended with gains of about 70.9% at 14691. As I write this message it is clearthat the war against the pandemic is not over and we could see multiple waves. We have toaccelerate the pace of vaccination and remain vigilant to build a strong herd immunity.

LONG-TERMO UTLOOK REMAINS SANGUINE

It's a wonderful thing to be optimistic. It keeps you healthy andit keeps you resilient."

– Daniel Kahneman

We believe India is on a long-term sustainable growth path.Medium-term outlook though remains clouded by uncertainty regarding the pandemic. Factorssuch as favourable demographics rebound in private capex and continued spending by theGovernment could propel recovery in the economy. Accelerated shift of household savingsfrom physical assets to financial savings will drive growth of the capital markets in thelong term.

Financial services sector in India remains under-penetrated relativeto other countries. Being a prominent financial services player we are playing an activerole in bridging this gap. Our well-defined strategies and wide array of offerings areempowering us to seize several macro opportunities.

ENSURING BUSINESS CONTINUITY DURING THE CRISIS

The entrepreneur always searches for change responds to it andexploits it as an opportunity."

Given our ability to think ahead and act swiftly we managed to deliversustained performance in an extraordinary year. The health and safety of our peopleremains our topmost priority. Our technology team worked with high agility to provide ourpeople with the requisite infrastructure to work from home. Our call centre operationswere successfully migrated to the work from home format. We accelerated our digitaljourney and evolved new ways of working. Our online platforms AAA mobile app and tradingsoftware were instrumental in providing convenience and speed to our customers. In June2020 we launched ‘ASK IIFL' chatbot to address all customer queries andgrievances 24x7. As the economy started opening up our branches became operational. Frommid-March 2021 the second wave grew stronger and partial lockdowns came into effect.This time around we were better prepared and used the learnings from the first wave.

Customers At The Heart Of Our Strategies

You've got to start with the customer experience and work backtoward the technology not the other way around."

Our constant focus on providing need-based and superior experiences tocustomers has helped us build enduring relationships with them. A robust trading platformdomain expertise and wide footprint are some other factors distinguishing us from ourpeers. We continue to leverage and strengthen our technology people and processcapabilities. Improving and fortifying our research content providing best advice and acomprehensive product mix to our customers remain an integral part of our strategy.

A Stable Financial Performance

During the year we registered a stable performance once againdemonstrating the strength and resilience of our business model. Growing number of retailinvestors and continued momentum in existing ones led to a surge in trading volumes. Ourtotal income stood at 8.68 billion up 10% y-o-y while Profit AfterTax (TCI) (Beforeexceptional items in FY 2019-20) grew 52% y-o-y to 2.21 billion. During Q4 we acquired~1.1 million demat accounts from Karvy Stock Broking and started migration of theseaccounts to IIFL Securities. We successfully completed the buyback of 17 million equityshares at an outlay of Rs. 1058 million.

Supportingo Ur Communities

During the pandemic IIFL Foundation provided education to theunderprivileged children via several online platforms (such as Zoom and Google Meet amongothers). It also donated oxygen concentrators in Palghar district. We are confident thattogether we will conquer the outbreak of COVID-19.

During the year Shri Kranti Sinha stepped down as the Chairman of IIFLSecurities after completing his full term. We will miss his guidance and counselling.Sinhaji has been associated with the IIFL Group since our listing in 2005.

Regards
R. Venkataraman
Chairman and Managing Director

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