Devesh Sachdev MD & CEO
Dear Shareholders,
The year 2019-20 was a milestone period as Fusion turned 10! And to say that each of
those 10 years was a challenging and learning phase, an evolving and inspirational growth
phase-would be an apt summarisation of our journey. Each and every member of the Fusion
family stands wiser and richer with this experience and eagerly looking forward to the
next 10-which, I am very certain, will be the crowning glory decade for Fusion
Microfinance in the BFSI sector In India.
When we started our journey, there were primarily three goals that were driving us:
A) To reach out to the unserved and underserved sections of our population;
B) To be known as a responsible lender;
C) To be the ‘Employer of Choice’ in the BFSI sector In India. Today, when we
stand at the cusp of Fusion’s next decade, we take a lot of heart from the fact that
we together built a company that has secured a ‘meritorious place of pride’ in
the sector : - Fusion now serves 1.8 million active customers and, in turn, households
across 18 states in India through a network of 591 branches, 5,490 people, a cumulative
disbursement of ~ 10,000 crore and an active portfolio of 3,606.52 crore as of March
2020. - Fusion’s relentless focus on putting customer first and building complete
transparency in dealings/offerings has been an integral part of our value system. The
trust our external stakeholders/lenders repose on us is reflected in the over-50% repeat
business volume generated on the average over the last few years. - Fusion today is a
collective reflection of its people.Our culture has been a true melting pot of the finest
values that each employee contributes. Our growth story is a collection of individual
success stories. ‘Featuring in the ‘Great Place to Work - 2020’ list was a
reward for our sustained people-centric efforts. This recognition is very special for it
vindicates our sincere efforts over the last decade in nurturing talent and creating an
enabling environment for our people to grow and excel. This has, in turn, helped Fusion to
create significant value for all shareholders. All of us at Fusion have worked diligently
and passionately to secure a place among those truly inspirational companies on that
coveted list .But to make It on our debut was surreal, to say the least. Fusion @ 10 has
entered a ‘new world order’. A world where distances and time are being crushed
by video and speed, money will still drive commerce but cash may travel more in binary
numbers, classical model of lending will need to be delivered ‘wrapped in a new cover
of product offerings @ the doorstep’, credit and commercial bureaus will be the
backbone of decisioning algorithms and customer retention/wallet share will find its way
into the micro financing playbook. Fusion @ 10 is calibrating to be the ‘Touch and
Tech’ company of choice for the next decade. The year 2020 has been a phase of utter
crisis for the human race. The Coronavirus pandemic has brought about unprecedented
hardship and scare to people’s lives across the globe. Fusion has stood
shoulder-to-shoulder with its employees and customers in tiding over the day-to-day
challenges and has been at the forefront of a series of nationwide initiatives taken up by
the BFSI sector. We have resolved to partner our customers through these tough times just
as we supported them over the last few years of growth and prosperity. I am confident that
our values, our robust processes and delivery systems and our people will help us overcome
this crisis and emerge stronger.
We are, and will always remain, mindful of the privilege and responsibility we shoulder
in financing dreams that mean so much to so many. So, while we work to deliver
high-quality results year on year, we view our business through the lens of value we
deliver to the people we serve and the environment we operate in.
Acknowledgement
I would like to express my sincere gratitude to my fellow Directors for their
commitment and professionalism in paving Fusion’s long-term path. My deep
appreciation to all our loyal and valuable shareholders for their continued confidence and
support. My thanks to our financial partners, who continue to partner us in our journey.
To our management team and staff for their ongoing dedication in contributing to
Fusion’s growth.
Lastly, it is our collective duty to respectfully mention all those frontline workforce
members in our country who have demonstrated incredible courage and dedication in fight
against the dreaded Corona virus. All of us at Fusion salute these brave warriors.
Warm regards
Devesh Sachdev
Chief Executive Officer