VICE Chairman’s Address VINEET CHANDRA RAI Vice Chairman Arohan Financial Services Limited Founder, Aavishkaar Group A year ago, I wrote to you from within the eye of a storm. FY 2025 had tested Arohan in ways that went beyond the commercial - it questioned our values, our integrity, and our resolve. As I reflect on the year now behind us, I do so with a quieter spirit and a steadier hand, grateful that the institution has not only weathered that storm but emerged from it with greater clarity than before. The world, of course, offers little respite. Geopolitical fault lines continue to widen, and the consequences of climate change grow more visible each passing season - in the floods, the droughts, and the erratic monsoons that fall hardest upon the very communities we serve. Our clients live closest to these disruptions, and yet, year after year, they remain the most resilient stakeholders in our story. It is their determination, and their trust, that reminds us why Arohan exists. This year, that trust was rewarded with renewal. We restored Arohan to health and to profitability, underpinned by prudent risk management, a healthy capital adequacy, and a balance sheet rebuilt on disciplined foundations. Our asset quality has strengthened considerably, our ratings affirmed with a stable outlook, and we now serve close to 2 mn borrowers across 16 states - a remarkable share of whom rely on Arohan alone for their access to formal finance. These are not merely numbers; they are the measure of a promise kept. I have always believed that an institution reveals its true character not in the seasons of plenty, but in the seasons of scrutiny. From our earliest days, Arohan has been built on four pillars - transparency, governance, ethics, and impact. In the past year, these were not abstractions to be admired; they were the armour we wore. We made difficult choices, we leaned on our ethical compass, and we held firm to the conviction that doing what is right is never in conflict with doing what endures. None of this would have been possible without our people. Over 9,600 colleagues carried Arohan forward through a demanding year, and our leadership team continued to steer the institution with steadiness and skill under the stewardship of our Managing Director, Manoj Nambiar. To each of them, my deepest gratitude. I remain thankful to the Reserve Bank of India, whose oversight and guidance through a difficult period were invaluable, and to the Microfinance Industry Network, Dear Shareholders, 3 | Annual Report | 2025-2026
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