I am pleased to present our Annual Report for the year ended March 31 2018.
This year your Company has done reasonably well notwithstanding a challenging businessenvironment and varied consumer demands. What has not changed however is the uniqueability of Blue Darters to continue to be agile and adapt to an environment that remainsvolatile and challenging and respond in a manner that reflects our qualities andexperience.
Your Company is one of India's most innovative and awarded Express Logistics brand. Thevalue and service experience created for customers still leads the industry. The Company'smarket leading services and expertise is highly regarded and is a global benchmark. Ahigh Net Promoter Score of 84% in 2017 is a proof of that - perhaps the best in the world.
Your Company posted Rs 14210 Lakhs profit after tax for the year ended March 31 2018.Income from operations for the year ended March 31 2018 was Rs 279085 Lakhs. YourCompany carried over 1958.66 Lakhs domestic shipments and over 9.15 Lakhs internationalshipments weighing more than 696961 tonnes during the same period.
The Board of Directors of your Company has recommended a Dividend of '12.50 (RupeesTwelve and fifty paise only) per equity share for the year ended March 31 2018 subjectto necessary approval by the members in the ensuing Annual General Meeting.
Your Company has been established based on strong brand equity built on thefundamentals and values that are representation of great workplaces. Rated as one ofIndia's Super brands and Readers Digest Trusted Brand your Company is associated withinternational standards reliability trustworthiness hi- technology strong CorporateSocial responsibility and customer centricity.
India's macroeconomic environment is expected to be stable for the long-term with minorinterim hindrances. With about 7%+ real GDP growth it is one of the fastest growing majoreconomies.
As per the DHL Global Trade barometer the Indian trade growth is expected to remain onrecord high levels. The March 2018 Index had predicted the March 2018 to May 2018 tradedevelopment at 84 and above countries such as China USA Germany UK etc. The globalaverage is 66.
The future is more complex than ever before. The express business in India isexperiencing change led by heightened competitive environment; new entrants and captivebusiness models of some major customers.
This year too we have initiated a thorough review of our business. We took on thechallenges that affect our industry and business in an even stronger and more decisivemanner.
In line with the goal to deliver exceptional services your Company has embarked onseveral initiatives that will bring long term benefits to customers. A transformationprocess has been initiated to win in every market - metros tier I II III & IV byproviding superior consumer convenience introducing unique products delivering thebest-in-class services and maintaining the reach advantage. Technology and Automation willbe the pivots of this strategy. We have already enhanced our reach to over 15000 pincodes as on date. The investments being made on various initiatives may have some shortterm challenges however it would create value for business stakeholders in the longterm.
Digital transformation is on a steady path of consolidation in Blue Dart. As one of thefore-runners in creating technology delights your Company has revolutionized the digitalpayment options with 15 mobile wallets / UPI / credit and debit card options; andinvestments in the new contemporary website business intelligence AI and data analyticaltools smart dashboards auto-route applications deployment of parcel lockers pilots ofelectrical vehicles etc are just some of the reflection of your Company's future visionfor its customers partners and planet earth.
Your Company continues to tap into the social media space through its officialFacebook Twitter Google+ and YouTube pages to reach an extensive audience base andrapidly growing followers.
The future growth will come from industries (manufacturing and services) and privateconsumption. The landmark goods and services tax (GST) will substantially simplify trade.The e-waybill implementation has been mixed and slowly stabilizing now. Blue Dart haschampioned the leader's role in the implementation of these two landmark changes.
In year gone by 99.2% of Blue Darters participated in the Annual Employee SatisfactionSurvey (ESS). Pride for working at Blue Dart clearly emerges as the highest score at97.4%. Blue Dart has been recognized as the No.2 Best Multinational Workplaces in Asia2018 by Great Place to Work Institute (GPTW) Asia amongst the Top 50 of India's BestCompanies to Work For - 2017 by Great Place to Work Institute (GPTW) India for the 7thtime awarded a Business Superbrand for the 10th consecutive time and aReader's Digest Most Trusted Brand for the 11th consecutive time this year.
Your Company is aligned to the group's Mission 2050: Zero Emissions goals. Your Companyhas won the Deutsche Post DHL CEO Award for Living Responsibility for two years in a row.This is a wonderful global recognition for our Corporate Social Responsibility programs.
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 Company's business philosophy. Building community trust throughresponsible and sustainable management of its business is an indispensable part of BlueDart. The Company is committed to its Living Responsibility motto. Living Responsibilityor in common parlance Corporate Responsibility' is a core element of Blue Dart'scorporate strategy. Your Company (along with DPDHL group) focuses its corporateresponsibility on environmental protection (GoGreen) disaster management (GoHelp) andchampioning education (GoTeach).
The team on ground is focused to deliver on all parameters for all its stakeholders -customers investors government and employees. To support the aspirations of growthbusiness plans are being set-up deployed and investment support is being articulated tostrengthen the logistics delivery system and to further strengthen market leadershipposition and make Blue Dart's governance stronger.
I thank you the shareholders for your support and I thank the Board and all BlueDarters for their hard work and commitment to this great Company.
| ||Warm regards |
|Mumbai ||Sharad Upasani |
|June 20 2018 ||Chairman |