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Jet Freight Logistics Ltd.

BSE: 538390 Sector: Others
BSE 05:30 | 01 Jan Jet Freight Logistics Ltd
NSE 05:30 | 01 Jan Jet Freight Logistics Ltd

Jet Freight Logistics Ltd. (JETFREIGHT) - Chairman Speech

Company chairman speech

Dear Shareholders

At the outset I would like to thank all our esteemed shareholders for theiroverwhelming support to the maiden IPO of Jet Freight Logistics Limited. I am humbled bythe response.

Further it is a matter of pride that "The Economic Times" survey has rankedour IPO at no. 2 in terms of delivering 136% return to its investors. Your company hasmade an impressive mark on its debut in the capital market. The journey of Jet Freightbegan three decades back with humble start by an individual named Francis Theknath from anon-business family but a strong will and a desire to dream big. It was a journey full ofups and downs but the entrepreneurial spirit was always high. The path has transpired froma small business to a Public Listed Company called Jet Freight Logistics Limited with morethan 175 shareholders a dedicated and highly motivated workforce of approx. 120employees a network of nine branches across India and last but not the least theimpeccable goodwill amongst its key stakeholders like Clients Airlines Bankers.

While at May 29 2017 Jet Freight Logistics Limited had a market capitalisation ofapprox. Rs. 400 Million I have set a target of increasing the market capitalisation toRs. 1000 Million by the year 2019 which I am confi dent of achieving with all your supportand good wishes.

It was leap of faith on my side to enter the capital market but I am sure it would beyour trust and faith that would take the company at the next level as we together embarkon this journey of growth and prosperity.

Your company is having plans to expand it footprints in other geographies as envisagedin our business plan. While we maintain a leadership position in the perishables businessDomestic freight forwarding which we diversifi ed into this year along with thrust ondeveloping the general cargo business will be the major drivers for business growth.

As we prepare to lay a strong foundation for the future we would need to plough backthe profi ts and therefore your company is not in a position to declare any dividend thisyear. I expect some temporary turbulence in the business with the introduction of GST buton a positive note I am hoping to leverage on the hidden opportunities that we may comeacross by way of business consolidation.

As you all go through the Directors report outlining the progress of our Company duringF/Y 2016-17 and other highlights of business as detailed therein I would like to concludeby quoting Ruth Handler co-founder of Mattel Inc "We didn't know how to run abusiness but we had dreams and talent." I would like to place on record myappreciation to the Government of India Government of Maharashtra Bankers to theCompany the Airlines customers my employees/consultants for their valuable support andlook forward to their continued co-operation in the years to come.

Hope the Rain God blesses India with good Monsoon showers this year and the same goesfor profi ts in our company. Warm Regards

Richard F. Theknath
Chairman & Managing Director