AQUA LOGISTICS LIMITED
ANNUAL REPORT 2010-2011
From Chairman's Desk Dear Shareholders,
I am very happy to present before you the annual performance summary along
with major milestones achieved by your company in the Year 2010-11.
As the fiscal 2011 year came to a close, we looked toward the horizon and
saw a broader and brighter future taking shape for Aqua Logistics.
Navigating through another challenging year in which the recession held on
longer than expected and the economic recovery sputtered,we continue to
diligently focus on those factors over which we have control. While slow
growth conditions during most of the year offered little impetus, we seized
the opportunity to intentionally broaden our horizons.
We broadened our horizons by
* Expanding our presence
* Reaching out to new customers
* Creating an industry focus
* Developing our next generation of leaders.
Knowing that our future is brighter in end to end logistics services, we
took important steps to strategically acquire companies that fit into our
scheme of plans and add immense value to our entire portfolio. Among these
acquisitions was Aqua Star Distribution Logistics Pvt. Ltd., which offer
organized last mile distribution services.
We also added Aqua Nikkos Logistics Pvt. Ltd., a 3rd Party Logistics
provider that strives to deliver the highest standards in the global
logistics solutions provider industry, to our portfolio.
This makes us the only truly end-to-end player in the country with proven
expertise in the following areas - Project Logistics, Logistics Sourcing &
Procurement, Distribution Management, Technology Solutions and Logistics
Management & Supply Chain Consulting.
As our horizons broadened, they began to brighten as well. While we have
not yet returned to the level of financial performance that all of our
stakeholders desire, top line trends were positive as the year progressed.
During the year Income from Operations improved to Rs. 380.88 Crores in FY
2011 from Rs. 322 Crores in FY 2010, an increase of 19% year on year, and
the Net Profits increase by 9% to Rs. 22.39 from Rs. 20.54 in FY 2010.
The economic outlook for the current business year is favorable, although
potential for a setback is still present, considering the turbulent
economy, rising commodity prices and slower international trade.
We have proven our capabilities, even under the most difficult economic
conditions, thus we are very confident of a future of growth which is above
I thank all members of the management and all employees for their committed
and valuable contributions to the Group's development and the very good
results achieved. I also thank all customers and partners for their
confidence in Aqua Logistics and good business relations the Group enjoyed
Rajesh G. Uchil