Dear Shareholder,
My sincere wishes that each of you, your families and loved ones are safe and healthy
and taking due care in these trying times. This has been an unimaginable 15 months. And
despite all the pain and suffering, the unbreakable human spirit shines through in the
large and small acts of kindness, empathy and compassion.
In many ways, humanity has come together to fight this global pandemic. Global
cooperation has never been more important than it is now. The vaccines for COVID-19 are
one of the greatest examples of collaboration and pioneering science.
Even as I write this, India and many other parts of the world are in the grip of second
or even third waves of the pandemic, much fiercer than anything we saw last year. It is a
health crisis of the kind we have not seen in generations. We are a resilient and
adaptable species. With discipline, focus and fortitude, I am confident that we shall
overcome these unprecedented times. We will eventually get it under control, but until
then, I urge you to stay safe, follow covid discipline, get vaccinated if you are eligible
and keep your spirits up. Now the economy is gradually opening without seriously risking a
major spike in infections, and businesses are trying to go back to the new normal. The
government revenues have been hit in a big way and that will have big implications on the
government capital spending. The outcome of stimulus given by the government will be a
critical thing to monitor.
On the business front, your company weathered the pandemic very well. It adapted
quickly and embraced a new operating model that prioritized the health and wellbeing of
its employees, while enabling it to continue supporting its customers not just in their
mission-critical operations but also in their growth and transformation journeys.
After the initial impact from lockdown related disruptions, the company swiftly
returned to a sharp growth trajectory and exited the year on a very strong note. Advik
Capital Limited is a truly great company that produces outstanding results year after year
and provides the kind of value that shareholders dream of.
For me, it is a matter of pride to see the commitment and dedication that our employees
displayed during this year to serve our clients.
I am extremely grateful to them, our clients, the leadership team, our Board members,
and all our well-wishers, who have supported us with their trust and guidance through this
most challenging year.
Your company has been guided by a set of strong beliefs, right from the time it was
founded. Belief in our core values, belief in putting the customer above all, belief in
investing in people and empowering them, belief in constantly trying out new ideas and
models, and belief in doing right by all the stakeholder communities we work with.
Being well-capitalized and under-leveraged, we remain poised to take advantage of the
favourable industry dynamics and to grow profitably.
Having built a top quality business at Advik, we are working every day to be more
responsive to the current dynamic environment and build a resilient and sustainable
business. With an experienced management team, efficient risk management processes and a
strong position in various lending that the company offers such as Gold Loan, Vehicle
Loan, Business, Personal and Property Loan, we are strategically positioned to embark on
our next level of growth. Our strong capitalization levels, low leverage and improved
access to credit lines, and comfortable liquidity position give us the confidence to move
forward with vigour.
I am thankful to our clients, partners, employees, and other stakeholders who have
placed their trust and confidence in us. I am very excited about the path we are on, and
confident you will see a more ambitious Advik Capital as we move forward,
While the immediate months and quarters ahead of us continue to be partly uncertain, I
do retain my measured optimism about our future. Our country is steadily expanding
vaccination coverage, which is our best hope of blunting the third wave and eventually
putting the deleterious effects of the pandemic behind us. Once we push beyond that, the
future appears favourable.
I wish all of you and your families' safety and good health.
| Stay safe |
| With Best Wishes, |
| Sd/- |
| Virender Kumar Agarwal |
| Chairman & Managing Director |