Dear Valued Stakeholders
It is once again a moment of great honour for me to communicate with my esteemedstakeholders on the journey so far in the last one year since I communicated with you all.I hope you and your family are safe.
The year under review has been one of the most challenging the world has ever seen. Theoutbreak of COVID-19 and eventual lockdowns have brought a new order to the world. Whileit would take time for some sense of normalcy to prevail I hope all of you are takinggood care during these pandemic times.
At this moment I would like to thank all our esteemed shareholders for theiroverwhelming support and trust reposed in the company. I feel privileged and honored topresent to you the 10th Annual Report of your company for the financial year 2019-20.
Over the years we have created a legacy of trust; and during the year we continued tobuild on it. The year saw us achieve the exceptional collections and deliveries ofprojects. Globe International Carriers Limited ("GICL") is one of the leadingcontender in transportation and logistics business in India. GICL is the First LogisticsCompany from Rajasthan to be listed on the National Stock Exchange SME Platform.
Our journey in the last three decades has been a story of innovation excellence andstrategic evolution as we expanded our footprint across India. We diversified our servicesportfolio while achieving significant growth throughout these years.
In the Financial Year 2019-20 company's turnover slightly reduced to Rs. 80.33 Croresas compared to last year turnover of Rs. 95.17 Crores. Overall there are many positivesigns within these numbers and I believe this is an indication that our strategy toachieve large scale growth is the right one your company is also simplifying and improvingthe processes to become a highly connected agile and innovative organization whereaccountability and empowerment go hand in hand.
This year we steadfastly focused on solidifying our business fundamentals scaling upinnovation to cater to the evolving customer preferences. Our strategic frameworkleverages our key strengths in various departments of Logistics.
We have been taking big strides and are confident about the next phase of growth. Withall the initiatives and efforts in the direction of business growth I am sure that yourcompany would able to withstand all future challenges. As it is the saying that when thegoing gets tough the tough gets going.
With the kind of pandemic in the name of CoVID-19 has covered the entire world itwould be the survival of the fitness in these situation. To withstand these tough economicsituations would not be easy for many businesses. Hence it would also be an opportunityfor investors to identify the companies with strong fundamentals and I am Confident thatyour company would be one of them. No better parameter for any investors to onboard suchcompanies in their portfolio.
Before closing I would like to place on record my appreciation to the Government ofIndia Bankers to the Company customers my employees/consultants for their relentlessand valuable support and look forward to receive the same in future also.
Once again I wish and pray to God almighty that we get rid of this pandemic and onceagain our country and this world becomes a better place to live with no more people dying.
Warm Regards Subhash Agrawal