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Patel Integrated Logistics Ltd.

BSE: 526381 Sector: Others
NSE: PATINTLOG ISIN Code: INE529D01014
BSE 00:00 | 09 Dec 13.98 -0.23
(-1.62%)
OPEN

13.96

HIGH

14.40

LOW

13.90

NSE 00:00 | 09 Dec 13.95 -0.25
(-1.76%)
OPEN

14.50

HIGH

14.50

LOW

13.80

OPEN 13.96
PREVIOUS CLOSE 14.21
VOLUME 58282
52-Week high 21.00
52-Week low 11.05
P/E 16.45
Mkt Cap.(Rs cr) 89
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 13.96
CLOSE 14.21
VOLUME 58282
52-Week high 21.00
52-Week low 11.05
P/E 16.45
Mkt Cap.(Rs cr) 89
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Patel Integrated Logistics Ltd. (PATINTLOG) - Chairman Speech

Company chairman speech

TO OUR SHAREHOLDERS

" I sincerely thank our customers vendors and stakeholders. I am happy to conveyyou that inspite of uncertain business environment both in India and in the globalmarkets our Company remained on track with its vision of being the most trusted brand forconsumers and global players who are also now operating in the Indian Markets.

The Indian economy faced certain headwinds which has compounding impact on thebusiness. The introduction of the landmark tax reform Goods and Services Tax (GST) inJuly 2017 leads to the initial hiccups as there were challenges around clarity of rulesand processes which led to uncertainty in the day to day manufacturing & logisticsoperations of the business. There was a temporary disruption of the trade channelaccentuating the impact on demand that was already reeling in the aftermath ofdemonetisation in the previous year. Non performing assets and a series of frauds lead totighter credit controls by the Banks . Inspite of these challenges and changes in thebusiness and Financial Institutions environment your company was resilient and continuedmaking profits due to diligent and acute control on costs and internal processes with aplanned strategy.

Extensive support of Technology and grass route changes in the business was the keydriver for the business to stabilize quickly inspite of the challenges. These changes arealmost done by us and the current year shall slowly but surely will see these benefitsperformance parameters for conducting business in our challenging space we operate in.

With our vast network across pan India up-to-date technology and loyal work force theCompany continues its commitment towards its Customers. As always consumer needs andrequirements will be at the centre of all our endeavours and make us evaluate andchallenge continuously. Changes through Innovation which suits to the fast changingbusiness environment are something we strive to achieve and uphold.

To make our organization diversified and profitable venture in the years to come wehave strategic plans for growth of our express business and warehousing division. Theconstruction of our new warehouse facility is ongoing at Bangalore along with our newExpress & Distribution Hub which will be operative by December this year. The companyalso has begun finalizing its Warehousing and new Express Hub operations in Chennai whichwill ensure that the entire Southern Warehousing and Express Hubs will soon becomeoperational. Benefits will surely accrue to our company in the years to come to take careof such issues. Needless to mention these efforts will result in considerable rent savingsand will also lead to Revenue & Sales growth in the months / years to come. This willsurely make a which is the key to sustained growth for your company.

In view of development of logistics to boost both domestic and export markets theLogistics sector has been awarded Infrastructure status by the government which will provevery beneficial and easier terms terms of which will slowly & surely be a positivefor your Industry. Going forward the current financial year will stabilize the Indianeconomy although the general elections may add to the instability or stability we don'tknow but am sure the change will only be for the better in the times / years to come foron and ensuring we can deliver in these trying times & your company.We are uncertainenvironment. That is our endeavour & challenge which makes us want to grow with ourCustomers Vendors and Employees alike.

I am quite certain the Companies capabilities to scout for and resoluteness. We lookforward to continuing our strong and enduring partnership with our stakeholders to help usachieve new milestones in the year ahead."

With Best Wishes to all of you & your Families

Areef A Patel

Executive Vice Chairman

.