I am pleased to share with you the agenda to the 41st Annual
General Meeting of Shareholders (AGM) of Banas Finance Limited scheduled to be held on
Tuesday, 27th August, 2024.
As I sit down to write my letter to shareholders as the Chairman, I
find myself even more optimistic by what lies ahead for Banas Finance Limited today. I
would like to start my letter with a famous quote of Eleanor Roosevelt: “The future
belongs to those who believe in the beauty of their dreams.” This truly epitomizes
the philosophy and culture of your Company.
We brought innovations in the business, made some key changes in our
strategies and decisions, while still preserving our values and strong foundation. Our key
motive behind all this remains to deliver more and more value by automating every facet of
customer interaction and delivering an elevated experience to all our customers. The
organizational changes we have inculcated as part of business endeavor are set to increase
the stakeholder value, expand geographies, and contribute to the economic growth of the
country.
With our remarkable 40 year journey, we not only multiplied our
footprint in each decade, we also endured a growth mindset. Today, we are consolidating a
good position in the market of NBFC companies. Over the years, we also built huge and
growing base of customers, strengthened and leveraged our space using stability, growth
and digital transformation.
I thank you for your continued trust, encouragement and unequivocal
support to the Company and its Management.
Despite the challenges of the previous year, we are pleased to confirm
a positive financial result. In 2023-2024, Banas reported standalone total revenue of Rs.
7364.40 Lakhs including other income. During the year under review Company has generated
standalone Profit before Tax of Rs. 224.86 lakhs as compared to previous year loss of Rs.
5476.14 lakhs.
At the Company level, we continued to focus on further cost reduction,
optimum utilization of existing capacity and enhancing operational efficiency.
As I close, I would like to take this opportunity to thank you all for
your continuous support and faith in the Company and its management. We shall continue to
work towards taking the Company to greater heights and achieve many more milestones and
business goals.
| Thank you for your attention! |
| Sd/- |
| Yours Sincerely, |
| Girraj Kishor Agrawal |
| Director |
| DIN - 00290959 |