Future Supply Chain Solutions Ltd.

Dear Stakeholders

We take pleasure in presenting you the Thirteenth Annual Report of your Company for2017-18. During the year we have successfully listed your Company on the BSE Limited andthe National Stock Exchange of India Limited. We thank all our investors for theirincessant support and trust shown on us. It will be our endeavour to be on a journey oflearning and continuous improvement for the operational and financial health of theCompany while maintaining the highest standards of corporate governance andresponsibility towards the stakeholders.

India is expected to be the fastest growing major developing economy over the next fewyears. Growth in manufacturing and high consumer demand along with increased per capitaincome and higher propensity to spend will exponentially drive the need for organisedend-to-end and customised logistics solution service in the country.

With the domestic logistics space majorly cluttered by unorganised participants and theIndian logistics industry being almost twice less efficient than global standards thereis higher opportunity to optimise the logistics spend in the country. With GSTimplementation in the country taking firm shape on the ground level we are all poised toleverage the opportunities. We believe GST is likely to create multi-dimensional prospectsfor the organised logistics service providers by improving performance of all logisticssub sectors. This apart the increasing trend of outsourcing the non-core businessverticals amongst the companies will also provide us the required fillip to growexponentially.

During the last decade the strong growth in consumerism has fuelled the need forspecialised logistics solution providers with pan-India distribution reach and ability toprovide customised solutions in a cost-efficient manner. We at FSC always focus on thisprime objective in an organised and efficient manner with the help of our best-in-classtechnology solutions integrated systems and infrastructure. Given our strong presence infast-growing consumption-driven sectors it will act as a catalyst towards attaining apositive growth curve. Future Group's diverse business in fashion homeware and food andgrocery sectors is the key source of our revenue. The Company fulfils the need of aspecialised supply chain solution provider with end-to-end service offerings in thedomestic retail space. This synergy-led business model is expected to be amongst the keygrowth drivers for the Company in the years to come.

At FSC we are grateful to our stakeholders for ushering in trust support andencouragement since the beginning of our journey. With transformation in our constitutionof being a listed entity we expect to receive the same faith and reliance from you as wemove ahead to redefine the logistics services sector in India.