We have just concluded a tough financial year 2015 -16 for the Express Industry. I ampleased to inform you that despite the various macroeconomic challenges and sluggishnessin the market-place your Company has consolidated its leadership position and emerged asthe preferred logistics express service provider across industries on the Air Ground ande-tailing segments. What was most encouraging was that this growth was achieved despitedifficult external environment. While the headwinds somewhat abated in India and thedomestic market started showing signs of stability the actual revival in businesses wasslow as consumer demand did not show signs of any significant improvement. Our approach tocreating value and achieving profitable growth has clearly delivered results.
Your Company posted Rs.18988 Lacs profit after tax for the year ended March 31 2016.Income from operations for the year ended March 31 2016 was Rs.255386 Lacs. The Board ofDirectors of your Company has recommended a Dividend of Rs.25/- (Rupees Twenty Five) perequity share and onetime Special Dividend of Rs.5/- (Rupees Five) per share on theoccasion of 25th Annual General Meeting aggregating to Rs.30/- (Rupees Thirty) per equityshare of Rs.10/- each for the year ended March 31 2016 subject to necessary approval bythe members in the ensuing Annual General Meeting.
During the financial year ended March 31 2016 your Company carried over 1594.79 Lacsdomestic shipments and over 8.94 Lacs international shipments weighing more than 595623tonnes. Despite the unfavourable external environment Blue Darts sound strategy andmotivated people-force helped us report good growth momentum.
Our investments in the brand our people service quality innovative technologysimplified solutions and customer connect initiatives continued building momentum forfuture growth. We will continue to do our part to take on the increased competition in themarketplace and position ourselves for leadership and growth in the months and yearsahead.
Your Company continues to provide unmatched air cargo capacity intheIndianskies 757-200freighters with a fleet capacities up to 504 tonnes per night.
Your Company has continuously focused on customers and key accounts built a strongFirst Choice methodology and Net Promoter Approach. Our efforts enable us to have the"best-in-breed" Customer Satisfaction standards and scores whilst consistentlyimproving market share. Our efforts to improve customer satisfaction will continueunabated.
Your Company has leveraged the Net Promoters Approach (NPA) tool to measure CustomerLoyalty for "Customer Experience and Advocacy". Touch points are also assessedthrough NPA. The overall Net Promoter Score has moved from 58.73% in 2014 to 64.53% in2015. Blue Points Amazing Returns has been a successful loyalty program run across allindustry verticals enabling nurturing growing and building strong customer relationships.Your Companys equity a measure of customer loyalty towards a brand is the highestamongst its peers. The brand is associated with international standards reliabilitytrustworthiness hi-technology strong corporate social responsibility and customercentricity. The Brand Focus campaign I Love My Blue Dart which was launched tore-focus on an "insanely customer centric culture" was further magnified withthe "I Love My Blue Dart: Express Yourself" campaign. It gave every single BlueDarter an opportunity to "Express their Love" for the brand.
The energised Brand Custodian Program was driven with a stronger process structure andinvolvement of all stakeholders to ensure that the brand is maintained with the highestlevels of commitment and standards.
Strengthening our vision of enabling Blue Darts Digital Transformation weintroduced Blue Darts Facebook page Twitter handle and improved our presence onGoogle+ and YouTube. Our presence on social media has fetched us significant advantageslike - Improved Market Intelligence Quick Complaint Resolution Increased Brand Awarenessand Reach Instant Feedback and Suggestions on our Products and Services IncreasedCustomer Engagement leading to higher Involvement and Retention thereby increasing ourproximity with our customers and improving Blue Darts Affinity. All this validatesour insanely Customer-Centric culture.
Your Company has successfully provided its customers end-to-end express services from adocument to a charter load within India and through a varied service offering through theDPDHL group companies. Blue Darts own dedicated aviation and ground infrastructureis unique and one of its kind in India. Advanced technology deployment across productsservices customers and internal processes have further enhanced customer delight.
Your Company has been servicing the e-tailing industry ever since its emergence inIndia. Today your Company works with all leading e-tailing players through itsbest-in-class highly differentiated last-mile delivery offering and value-addedservices.
Your Company is investing in the right infrastructure - including IT multiple deliveryand payment options as part of its aim to become the preferred global provider ofe-tailing related services which will enable end-to-end systems to deliver for e-tailingbusinesses.
Details of our service and social initiatives have been presented in detail in theManagement Discussion & Analysis and Sustainability Update sections of this report.
Your Company also continued to invest in improving its reach footprint across Tier IIIII and IV markets. During the year your Company improved its reach in line with itsrenewed focus on an inclusive India which we believe will drive the revival in businessgoing forward. While doing so we have not lost sight of the growth potential that theurban landscape and metros offer.
Your Company continues to be an Employer of Choice. During the year several strategicand structured personal development and organizational effectiveness measures wereundertaken. The employee morale motivation and satisfaction were high. The meansatisfaction score for the year recorded a high score of 4.71 improving from previousyears score of 4.59. Special emphasis was laid on performance management competencydevelopment strengthening of the leadership pipeline employee wellness and well-beingwork-life balance initiatives and communications.
Blue Dart places a premium on and remains committed to good Corporate Governancealigned to the best corporate practices. Strong Corporate Governance has always been anintegral part of the Companys business philosophy. Building community trust throughresponsible and sustainable management of our business is an indispensable part of BlueDart. We are committed to our Living Responsibility motto. Living Responsibility or incommon parlance Corporate Responsibility is a core element of BlueDarts corporate strategy.
Your Company (along with DPDHL group) focuses its corporate responsibility onenvironmental protection (GoGreen) disaster management (GoHelp) and championing education(GoTeach). It gives me great pride to inform you that this year your Company was againrecognised as a Super brand trusted brand rated as one of the best employers in thecountry by AON Hewitt and Great Places to Work Investment of Choice and was recognisedfor its Corporate Governance and Sustainability efforts. I look forward to 2016 -17 beinga better year as our economy is primarily determined by domestic factors. Powered bysustained growth in consumer spending (through the 7th pay commission) moderateinflation favourable demographics digital and social inclusiveness (JAM trilogy) JanDhan Aadhar Mobile the logistics industry will be favourably impacted as theseinitiatives will directly impact the sectors we work with viz; BFSI E-tailingAutomotive Pharmaceuticals FMCG etc. A good monsoon will be the icing on thecake.
I would like to inform you that my colleague on the Board Mr. Surendra Sheth resignedas a Director of the Company with effect from May 12 2016 on account of hispre-occupation. The Directors have noted and acknowledged immense contribution of Mr.Surendra Sheth Director to the Company made over the years. Let me take this opportunityto thank you all our investors and shareholders for your confidence in us and our BlueDarters for committing their talent and tenacity to our success. It is your trust andcommitment that enables our progress and encourages us to strive for excellence. We lookforward to continuing along our successful path together with you.
| ||Warm regards |
|Mumbai ||Sharad Upasani |
|May 13 2016 ||Chairman |