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Satin Creditcare Network Ltd.

BSE: 539404 Sector: Financials
NSE: SATIN ISIN Code: INE836B01017
BSE 00:00 | 14 Aug 368.90 -5.70
(-1.52%)
OPEN

360.45

HIGH

369.80

LOW

356.85

NSE 00:00 | 14 Aug 366.55 -4.00
(-1.08%)
OPEN

367.60

HIGH

370.00

LOW

353.30

OPEN 360.45
PREVIOUS CLOSE 374.60
VOLUME 5274
52-Week high 525.25
52-Week low 257.00
P/E 16.84
Mkt Cap.(Rs cr) 1,804
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 360.45
CLOSE 374.60
VOLUME 5274
52-Week high 525.25
52-Week low 257.00
P/E 16.84
Mkt Cap.(Rs cr) 1,804
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Satin Creditcare Network Ltd. (SATIN) - Chairman Speech

Company chairman speech

Dear Shareholders

The past year has seen more milestones crossed for Satin Creditcare - we beganoperations in Assam in Q1 and Orissa in Q2 of 2018 with the goal of expanding ourpresence across East India and today we are the second largest microfinance NBFC-MFI interms of Gross Loan Portfolio a figure amounting to Rs.57568 mn.

We also launched our Housing Finance subsidiary in early 2018 and see huge potentialfor this segment to grow and expand offering clients a quality value added service withregard to their requirements for affordable housing.

During the demonetization phase we were one of the most impacted MFIs with 70% of ourportfolio being in the geographies that were hardest hit. However the turnaround incollection has served to prove not only the true strength of the JLG business model butalso showcased Satin Credit care's commitment to boost financial inclusion in India.

Not only has the company successfully managed to overcome the effects of demonetizationand return to profitability from Q2 and Q3 FY18 but have also managed to further build onthat momentum with our PBT and PAT doubling in Q4 FY18 as compared to the previousquarter.

The credit for this goes to our operations team who has worked relentlessly to makethis possible. And it shows in the numbers. The overall collections on our new portfoliodisbursed from January 2017 onwards stands at 98%; along with collection on our portfoliocreated via sourcing the new clients at 99.7%; the UP concentration being reduced from34.7% to 29.7% as of March 2018.

During FY2017-18 Satin Creditcare raised Rs.643 million in equity via preferentialallotment from ADB Rs.450 million equity from promoters Rs.350 million TIER II viaOCCRPS from a large NBFC Rs.1500 million equity via QIP in October 2017 Rs.1000million equity via preferred allotment and Rs.450 million Tier II OCCRPS from IndusIndBank.

As we take our first step towards becoming a fully digitized financial services firmwe are already set to go completely cashless on disbursements this financial year itself.In this endeavor we are glad to be joined by New York-based investment firm KoraManagement LP which has recently picked up 4.6% equity stake in Satin Creditcare for anamount of Rs.800 mn as they have a lot of on-ground experience in Fintech across LatinAmerica and China.

With a great year behind us we're hoping for an even better one ahead where we willcontinue to work hard for our shareholders and be constructive partners to our portfoliocompanies all the while aiming to support the government's mission of inclusion byproviding essential financial services to those who need it the most.

Thanking You

With warm regards

H P Singh