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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 Fellow Shareowners

At the outset I would like to thank all our esteemed shareholders for theiroverwhelming support and trust reposed in the company. However this year in terms ofmargins was not that great due to headwinds in the air cargo industry due to closure ofJet airways and continuous reduction in exports from India. However your company has beenable to maintain a healthy growth in terms of tonnage which goes to prove that the marketshare of the company has been maintained.

Your company has delivered a robust 34% growth in revenue as compared to previous year.Further your Company has clocked a 14.08% growth in terms of tonnage as compared toprevious year.

As I had mentioned in my last year's speech that our company is planning to have aglobal footprint and having worked in that direction our company has achieved that bysecuring a trade license in Dubai Free Zone Area by establishing 100% subsidiary in Dubai.With this we have established our global footprints and I am confident that we would yieldgood results from this initiative of ours in future.

As committed to our business plan for Domestic Cargo we have been able to separate thedomestic cargo division into a wholly owned subsidiary and the positive results would beachieved in the future years. We have the necessary infrastructure in place to deliver thefull potentials of domestic cargo business and returns should follow over the years.

In terms of technology upgradation it has been our endeavour to add a flavour oftechnology in our business and for this a digital platform has been developed and housedunder a separate company by the name of R2D FREIGHT PVT LTD. This initiative would go along way in improving the profitability of our Company in years to come.

I am very optimistic that all the above mentioned initiatives and business moves wouldlead us to the next level of growth and our dream of market capitalisation of 100 CRSwould be fulfilled in the next couple of years. Besides organic growth as outlined abovewe are also looking out for inorganic growth to achieve our desired objective of decentmarket capitalisation.

We are looking forward to continue on our mission of generating sustainable value forour stakeholders and I would like to place on record my appreciation to the Government ofIndia Government of Maharashtra Bankers to the Company the Airlines customers myemployees/consultants for their relentless and valuable support and look forward toreceive the same in future also.

Warm Regards

Richard F. Theknath

Managing Director