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Tara Chand Logistic Solutions Ltd.

BSE: 535058 Sector: Others
NSE: TARACHAND ISIN Code: INE555Z01012
BSE 05:30 | 01 Jan Tara Chand Logistic Solutions Ltd
NSE 00:00 | 14 Oct 42.45 0.95
(2.29%)
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Tara Chand Logistic Solutions Ltd. (TARACHAND) - Chairman Speech

Company chairman speech

Dear Valued Stakeholders

I feel privileged and honored to present to you the 2nd Annual Report of your companyafter getting listed on NSE Emerge in March last year. The year gone by has been anotherenriching experience for your Company as it ventured into new opportunities especially indeployment of construction equipment for infrastructure development projects of thecountry. Your Company also expanded its reach beyond the Indian shores and deployedcranes backhoe loaders and graders for construction of the Metro Rail at Mauritius withLarsen & Tubro Ltd.

The Financial Year 2018-19 was a landmarkyear for your company on the financial frontas we crossed a turnover of INR 100 Crores for the first time in our history. Your companyclocked a Year-on-Year growth of 22.6% in Total Revenue while Profit After Tax (PAT) grewat 3%. Although the PAT margins were slightly stressed due to competitive order bookingyour company has increased its focus on profitable verticals especially the ConstructionEquipment Rentals. This shift of focus has already shown great results in the second halfof the Financial Year.

The logistics industry as a whole is very well poised for positive changes as thissector is among the top priorities of the newly elected Government at the Center. TheGovernment has taken several key decisions like establishing a new Logistics Department inthe Ministry of Commerce introduction of the Draft National Logistics Policy and rapidwork on development of roads dedicated freight corridors and a huge emphasis onmulti-modal transport.

Your Company has focused on positioning itself as a Contract Logistics Service Providerso as to provide a one-stop-shop solutions package to its clients for their various needs.The company has already tasted initial success with the winning of contracts in the lastone year that derive from the company's inherent strengths in the areas of transportationmaterial handling steel processing and construction equipment operations.

In the past year your company emphasized on expanding its service offerings in theinfrastructure development sector with the addition of latest brand new constructionequipment. The company enhanced its capacity in the heavy lift cranes that are requiredfor erection of precast elements in metro projects and large flyovers which are beingconstructed across the country. Further your company ventured in equipment used forunderground engineering with a specific focus on acquiring hydraulic piling rigs. Theserigs are used to bore holes of suitable diameter and depth into the ground so that pillars(piers) can be constructed for passing of the metro line or flyovers above an alreadyrunning road. To further enhance its offerings your company has also acquired anddeployed equipment used for mixing of concrete (concrete batching plant) and placing ofconcrete (mobile boom placers). Such equipment form an essential part of the execution ofany construction project and are the key drivers of speedy project executions. YourCompany's enhancement in service offerings has further bolstered its long standingrelationships that it already enjoys with its esteemed clients while also creatingopportunities for your Company to make inroads into potential marquee clients or projects.

Going forward we stay committed to incorporate technology into our day-to-dayoperations thus enabling more visibility on areas that are critical to enhance operationalefficiency and help eradicate hidden losses. The company has already initiated a pilotproject to digitally log the hours of operation of the company's equipment working atvarious sites across the country. The success of the pilot which enable your company tohave access to real-time information about the equipment deployed at client sites enablingbetter control over the operation and maintenance of the machines. The company's effortstowards successful collaboration between technology and operations became evident in yourcompany's successful announcement of Quarterly results from the very first quarter ofbecoming a listed entity. It gives me immense pride in informing you that your company wasthe first entity on NSE Emerge to voluntarily start declaring the quarterly results. Suchactions and our future initiatives shall always be centered on our theme of 'Think NewAct Now'.

I once again thank all our stakeholders for their trust and belief in us. I lookforward their continued support as the company continues to scale new challenges todeliver consistent growth in revenues and profits.

Kindest Regards

Yours Truly

Vinay Kumar

Chairman & Managing Director

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