It is with great pleasure that we welcome you to the 2013 Annual Report of Kanrich Finance Limited. The Company expanded rapidly during the year concentrating on the growth of its capacities and capabilities and created a platform to realize its ambitious long term goals of making the Company one of the best in the industry within the next five years. The company’s monthly lending increased to over Rs. 700 Mn from less than Rs. 100 Mn a month recorded in the previous year while the annual turnover increased by almost 200%. However this expansion came at the expense of profitability with the total overhead cost increasing by 136% from that of last year . This buildup of capacity will translate into significant income generation from the third quarter 2013 onwards and we are confident that our shareholders will get amply rewarded for their patients and trust they placed on us.
This is the story of our goals and strategic direction. What we set to achieve, what we ultimately achieved and how we achieved. It’s a candid analysis of our strengths and weaknesses, our inherent risks and our capacity to deal with those risks. It’s a story of jubilation and tribulation, of extensive planning, sheer hard work and the joy of achieving the impossible. It’s the story of realizing our shared dream.