Dear Shareholders,

I am pleased to present our Annual Report for the year 2023-2024, marking another year of resilience and growth for Purple Finance. In the face of evolving market dynamics and regulatory changes, we have navigated with prudence and determination, delivering robust results and reinforcing our commitment to excellence.

This year has been pivotal as we focused on laying a robust foundation through strategic investments in both our people and cutting-edge technology. Like the unseen portion of an iceberg, much of our progress remains below the surface, yet poised for significant impact. As Ralph Waldo Emerson once said, The creation of a thousand forests is in one acorn.' Our efforts today, hidden from view but steadily growing, v/ill soon manifest into achievements that redefine our future. We are committed to transparency, growth, and innovation, and look forward to unveiling the fruits of our labor in the coming year.

In 2023, we started our journey with 3 branches, strategically positioned to cater to local businesses financial needs. By March 2024, we have expanded our footprint significantly, operating 20 branches spanning across 3 states. Looking ahead, our vision is to achieve a pan-India presence, ensuring every MSME has access to the resources they need to thrive. We understand the diverse challenges and opportunities across different regions, and our expansion strategy is designed to bridge the gap between financial services and underserved communities. By expanding our reach, we aim to strengthen local economies, drive innovation, and create sustainable impact that extends beyond financial transactions, empowering MSMEs to achieve their fullest potential. We have been at it since October 2022, and while we are happy to see how far we have come, we are excited about the possibilities of the future.

The Reverse Merger and subsequent listing of the Company on BSE Limited and Calcutta Stock Exchange Limited was a coming-of-age moment for the Company. In F.Y. 2024, continuing our growth trajectory, our AUM grew by 134%. We extended our reach by 17 branches and are now present in 3 states. It was a year we invested behind people and technology platform, for it forms the base on which scale can be built with profitability and governance. We look at the coming year with anticipation. We are committed to nurturing controlled aggression to fuel our Company's growth and confront inevitable challenges head-on. At this early stage of infancy, we recognize the extensive journey ahead of us and the significant work yet to be done. While the future remains uncertain, our pledge is unwavering: to approach it v/ith our utmost dedication and determination. Building a good Company is difficult enough; building an Institution is the summit of perseverance and vision. As the saying goes, 'Great things are not done by impulse, but by a series of small things brought together.' - Vincent Van Gogh' Yet, it's this challenge that fuels our passion and determination to create lasting impact and prosperity. Embracing each obstacle as an opportunity, we remain steadfast in our commitment to forge a path of sustainable growth and meaningful change. On behalf of all Purplites, I thank our shareholders, employees, bankers, investors, vendors, regulators, customers and all the stakeholders for their trust. Trust is the North Star of Financial Services, we will do our best never to slip on your trust. We are on an infinite journey with no finish line. Together, let us continue to shape a future where MSMEs thrive, grow, and contribute to the prosperity of our great nation.

Amitabh Chaturvedi

Founder & Executive Chairman