February 8, 2023

Dear Business Partners,

We are celebrating the 23rd birthday of Sharekhan today. Exactly 23 years ago, the Tiger cub had entered the financial jungle as a small start-up. Today, Sharekhan -- a team of over 3,800 Sherus and 3,900 Business Partners -- spread across 675 cities of India is engaged as a full-service broker in helping more than 27 lakh customers achieve their financial goals. Over the years, it has pioneered new business concepts, achieved numerous milestones and won many laurels. All this would not have been possible without the talent, support and commitment of our Business Partners. I thank all our present and past Business Partners for the success of Sharekhan.

I also take this opportunity to congratulate you all on the good performance of 2022. The customer base of our franchise business crossed 6 lakh customers and we entered 164 new towns through the franchise route last year. The contribution of the franchise business to our overall revenue increased to 44% in 2022 from 42% in the previous year. Our Business Partner channel also reactivated over 10,400 customers through the Mission Reconnect programme. These milestones wouldn’t have been possible without having the best partners in the industry by our side. We much appreciate the entrepreneurship and innovation that our Business Partners bring to the table and value all feedback, suggestions and ideas we receive from this very critical business channel.

The future is exciting, replete with opportunities. There remains a huge demand for our offerings, given that only a fraction of the Indian population invests in the stock markets. Moreover, the surge in the stock market in 2020 and 2021 has increased the popularity of equity and mutual fund investments in our country. Let us work together to grab every opportunity that comes our way and find new ways to add value to our customers’ life. Let us do whatever it takes to become the loved financial service partner of Indians.

We have already chalked out our long-term gameplan in the Vision 2025 document, which has been communicated to you all. Though equity broking remains our core business, an increased focus on asset gathering will bring us a good source of alternative revenue. In this everchanging world, transformation will be the key to overcoming the challenges of our business that include intense competition from disruptors, increased regulatory compliance and inherent business risks. The ability to adapt to and embrace changes in the business environment combined with your entrepreneurship, innovative mindset and commitment will make us unstoppable. We will do our best to empower and enable you to achieve the ambitions of Vision 2025.

I am proud of what we have achieved together in the last 23 years and excited for the future that we are building together.

Many thanks to you all once again for helping make Sharekhan a great company, let us now take it to greater heights.

Here is to an amazing future!

Happy Sharekhan Day!

Best regards,
Jaideep Arora
Director and Chief Executive Officer
Sharekhan