EbixCash India

EbixCash World Money India Ltd.

Founded in 1985, EBIXCASH World Money India Ltd, a subsidiary of EbixCash World Money Limited, is a leading Foreign Exchange Services Company based out of Mumbai, India. Formerly known as Weizmann Forex Limited, the Company was acquired by EbixCash World Money Limited in 2019 and was renamed to EBIXCASH World Money India Ltd in 1st January, 2020. We offer innovative, customized, and integrated financial solutions, relating to Foreign Exchange Services, Outward & Inward Remittances, Prepaid Cards, Gift Cards, and Travel Insurance needs of our corporate and retail clients.

With over 70+ branches spread across cities, EBIXCASH World Money India has grown into a ‘Preferred Foreign Exchange Partner’ along this 34-year-old journey. With a vision to grow and a leadership team that committedly achieves this vision, the company has expanded in these 34 years by leaps and bounds reaching new milestones and setting new benchmarks. The ability to identify, learn, and adopt emerging technologies without losing focus on the fundamentals and core strengths, is our brand advantage.

Corporate Values

OUR ‘C’ FORMULA

THE IDEAL SUCCESS MANTRA OF ALL TIMELY

CONSTANTLY

Upgrade & expand our physical outlets, channel partners and business segments

CONTINUALLY

Innovate, upgrade and introduce new solutions that give us a distinct identity

CONSISTENTLY

Achieve and maintain an edge with regards to our research, innovation and progress

Managing Directors Message

T C Guruprasad_1

Dear Valued Shareholders,

As I put down these words, the world as we know it is in the midst of the biggest financial, social and health crisis we may witness in our lifetime.

The toll that COVID -19 pandemic has taken is making economies plunge into a recession like never before. While the return to any sort of normalcy rests solely on concerted efforts globally towards creating a vaccine, our journey till then is one of caution which follows mandated protocols and common sense.

Having lived through economic crises before, most of us have adapted and evolved as individuals, organisations and as a country. I am sure, like we have risen and overcome adversities in the past, we will overcome the COVID-19 catastrophe and while the next few months are precarious and uncertain, it will favor organisations who reengineer, rebuild, and recreate long term sustainable business growth models.

The acquisition of Weizmann Forex in 2019 not only provided economies of scale but also broadened our target audience by tapping into the existing market and allowed us to acquire a larger share of this market,  the consolidation of businesses saw EBIXCASH’s airport foreign exchange business operate from 75+ counters across Delhi, Mumbai, Chennai, Hyderabad, Goa and Kolkata international airports and from over 130+ branches in 69 cities and presence at 12 seaports conducting a total of $4.8 billion in gross transaction value per year and the inward remittance business of approx. $5 billion gross annual remittance makes us the undisputed leadership position in India.

The infusion of new ideas, products and business processes has transformed the organization setting it on a path of expansion and innovation, we will be introducing new ways of doing business that will give us a distinct identity and allow us to consistently achieve and maintain an edge with regards to our research, innovation and progress.

On behalf of the Board of Directors, I am pleased to share that for FY20, the Company earned net profit of Rs. 3919.06 Lakh as compared to loss of Rs. 1363.52 Lakh in FY 2019. However, the total income of the Company - is Rs. 591581.62 Lakh as compared to FY 2019 total income of Rs. 918937.12 Lakh.

I would like to take this opportunity to thank the members of the Board and the Management for their priceless insights, and the dedicated employees for their contribution towards creating industry benchmarks and building the brand to where it stands today.

I would like to thank all the stakeholders for their continued support in achieving this feat for the company, which I am confident, is only going to gain pace in the years to come. 

With best wishes,

Guruprasad T. Chandrashekaran

Whole-Time Director

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