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Wall Street Finance Ltd.

BSE: 511147 Sector: Financials
NSE: N.A. ISIN Code: INE549D01012
BSE 00:00 | 03 Aug 14.16 -0.74
(-4.97%)
OPEN

14.25

HIGH

15.00

LOW

14.16

NSE 05:30 | 01 Jan Wall Street Finance Ltd
OPEN 14.25
PREVIOUS CLOSE 14.90
VOLUME 7325
52-Week high 30.00
52-Week low 11.90
P/E
Mkt Cap.(Rs cr) 16
Buy Price 14.16
Buy Qty 250.00
Sell Price 14.39
Sell Qty 150.00
OPEN 14.25
CLOSE 14.90
VOLUME 7325
52-Week high 30.00
52-Week low 11.90
P/E
Mkt Cap.(Rs cr) 16
Buy Price 14.16
Buy Qty 250.00
Sell Price 14.39
Sell Qty 150.00

Wall Street Finance Ltd. (WALLSTREETFIN) - Chairman Speech

Company chairman speech

It gives me great pleasure to welcome all shareholders to the 32nd AnnualGeneral Meeting of the Company and present the Annual Report for the Financial YeaRs.2018-19. We are building a Profitable Scalable and Asset-lite Forex tech company withobjective of creating immense value for our shareholders.

The economy is growing there is stable governance and big thrust on digital andinnovation on the payment space. The foreign exchange market is a growing market driven bygrowth in Leisure Corporate Students segments. As per RBI statistics the OutwardRemittance under Liberalised Remittance Scheme (LRS) grew from USD 11.77 billion in FY 18to USD 13.78 billion in FY 19 primarily driven by growth in Student travel and tourremittances.

The forex business saw major consolidation last year and the business is highlyregulated with strict focus on compliance. FY 2018-19 was the Company's first full yearfor forex operations post sale of MTSS business. Your company has emerged as a key playerwith ability to leverage technology and build digital platforms for various customersegments and has implemented a strong compliance framework through systems and variousprocesses.

The journey of transformation started last year first by introducing the new corporatelogo and identity towards becoming an Omni channel digital forex player. In line with thegrowth strategy the Company has been targeting Corporates Leisure and Student segmentsand has developed digital solutions for Corporate and Agent partners and in the process oflaunching its consumer and wholesale platforms.

The Company has also launched Smart Currency Card and Smart APP a Multi-Currency andINR card with Yes Bank. The Smart Currency card is a contactless VISA Card with globalacceptance safe and secure and can be used internationally as well as in the domesticmarket as it has an INR wallet also. The Smart APP helps the customers to manage his cardon the go and ensures the customers gets the best experience when they travel with thesmart currency card.

In terms of financial performance for FY 2018-19 your Company achieved Turnover of RS.2560 Crores and has declared an operating profit of RS. 173.16 Lakhs and Profit After Taxof RS. 12.17 Lakhs. The Board of Directors have recommended the final dividend @ 15%subject to approval of the Shareholders.

We are confident that the Company strategic vision in transformation to a Forex-techCompany with digital platforms for every segment will define the forex ecosystem. Thiswill bring in the much needed trust transparency compliance and convenience in theforeign exchange dealing enhance the customer experience and will help the Company totake advantage of market opportunities and achieve success.

I would like to thank the WSFx team partners customers creditors bankersregulatory bodies and especially our shareholders for your whole-hearted support and faithin our journey at Wall Street Finance Limited. We look forward to your continued supportin our growth as we create long term value for all our stakeholders.

With best wishes

Dilip Kumar Modi

Chairman