This year has witnessed a series of external events affecting the macroeconomy and thelogistics sector. The period leading to the general elections did have a reducedindustrial output combined with degrowth in auto & consumer durable sector and flatperformance in pharma consumer non-durable and other key sectors mainly towards thelater half and end of FY19. Simultaneously the logistics sector witnessed entry of newerplayers and expansion of existing player with pressure on market prices leading to lowerprofitability in the overall organised sector.
Amidst these external variables your Company has grown and enhanced its serviceportfolio with leading customers to build on its vision as an end to end logisticssolutions provider.
With regards to the overall performance during the year we witnessed steady growth of7.30% in revenue from operations. Amongst the business verticals e-commerce displayed astrong double-digit growth including considerable improvement and expansion of services.Gati Kausar (Cold Chain Division) turned positive EBITDA for the first time in FY 19. Thecore business grew at 5.36% represented by GKEPL with a focus on delivering end to endlogistics solutions for the customer.
Your company was honored with multiple awards from national industrial bodies andindustry leaders across healthcare auto among others for our continuing serviceexcellence and customer centricity.
Technology is playing a key role across the business ecosystem starting from theinternal processes and capabilities customer integration and interface to complex datamining. Even in a traditional industry like logistics there is a preference emerging forinformation consumption and interaction on the Mobile.
Your Company has always been at the forefront of technology and has had many firsts toits credit. I am proud to inform that we had a successful and seamless E-way bill processrollout with zero service disruption in addition to the continuous handholding andtraining to customers where needed.
I am also glad to announce that your Company is undergoing an efficient transition to acompletely new state of the art IT Infrastructure (GEMS 2.0) and would yet again set thetechnology and processes benchmark in the logistics industry aimed at directly deliveringvalue to the customers.
Training & People
In a service based industry our people are our assets and your Company undertook aroundthe year training across multiple levels including leadership counselling with the supportof outside professionals and internal experts. We continued our focus on driver trainingacross our multiple facilities in India.
Additionally your Company conducted an extensive Channel & Business Partnertraining & induction program across its operating units for improvement in qualitycustomer engagement & service.
Building Sustainable Committee
We continued to push our efforts in CSR with key focus education environmentcommunity rural development and health. Your company also provided support during KeralaFlood and Bubhneswar Cyclone. The focus on electric mobility remained strong with theincorporation of e-vehicles in last mile fleet in e-commerce and express distributionbusiness directly aiming at a reduction of carbon footprint and moving towards asustainable future.
Your company has created the roadmap for achieving the 2022 vision of delivering onemillion packages per day and become an end to end logistics solutions powerhouse. Theprogram has identified several breakthrough initiatives aimed at improving internalcapabilities winning customer confidence handling ever-changing market dynamicscontinuous improvement and innovation.
We have made significant progress in this program and have started seeing results inmany areas and is setting the foundation for achieving the 2022 vision.
In summary your Company is continuously gearing up in this dynamic macro-economicsituation. We are optimistic about the future and I am thankful to you all for the strongconfidence in your Company and its management.
Founder & CEO