Lallit Tripathi

Chairman and Managing Director

Dear Shareholders,

It is my privilege to write to you and present the Annual Report for FY 2022-23.

I hope this letter finds you safe and in good health.

As you know, the digital transactions recording new records every month on month and we feel we have greater opportunity emerging in the rural market in the digital sector and financial market, we are focused to create a robust distribution and Partner network in the rural market and are committed towards the same, With the launch of Vedant pay we are adding more services in the same to cater to the needs and demand of the rural market

Creating strong Sales and Distribution model,

Initially we were busy creating the pool of products to address to the needs of the rural market and are going with multiple tie ups with manufacturers and have added ticketing and Health services as additional offering in our services of Vedant pay, we have on boarded almost 1500 retailers and have started focussing on the newer markets like Bihar, Orissa , West Bengal ,Chhattisgarh apart from Jharkhand . We have started our business Correspondence business in the entire state of Orissa, Mutual funds distribution and loans have also got good response from rural market with almost 700 BC point operational in the state of Jharkhand and Orissa we are sure of reaching a number of 1000 Business Correspondents by the end of the financial year. Almost 56 % of the digital transactions on AEPS, Micro ATM, and DMT are coming from the state of Bihar, UP, Jharkhand, Odisha, West Bengal and Chhattisgarh we are focusing to get 10 % market share by next year in this region.

Going forward

We are expanding in the eastern region of India and subsequently expanding our services in the northern and western part of India as well with our branches fully operational in Orissa and Bihar we are aiming to open our offices in eastern UP and west Bengal in time to come we intent to set up 100 financial stores in the blocks and talukas by this financial year end, We also are creating a robust sales and distributor model and at present we have almost 1500 retailers on boarded and plan to on board 10000 retailers by this financial year end. At present we are having a total business volume of Digital transactions is 33 crore per month. By the end of this financial year we want to touch a volume of 100 crores per month. Our subsidiary Kartik Credit Private Limited is also seeing a good demand in business loans and micro loans and we intent to have more tie up with micro lending company to cater to the demand of the rural market

We are there to create a robust rural market and with are committed to convert our challenges into opportunities .We thank our stake holders for the trust in us and would assure you that in time to come your company will make a significant achievement and milestone in the rural financial distribution market with an assurance that we will create a value proposition for all our stakeholders in time to come.