NSE:TARACHANDSM | 58888: | IND:Warehousing/Supply Chain/Road Transport | ISIN code:INE555Z01012 | SECT:Logistics
Dear Valued Stakeholders,
It gives me immense pleasure and pride to present before you the Annual Report for the year 2017-18 of your company Tara Chand Logistic Solutions Ltd. The financial year 201718 was a landmark year for your company as it successfully listed on NSE Emerge platform on 23rdMarch, 2018.1 am highly grateful for the humbling oversubscription of the IPO and am pleased to welcome all our new shareholders.
The year 2017-18 saw continued growth for your company as it recorded a phenomenal growth of 57.2% in Total Revenue while the growth in Profit After Tax (PAT) was even greater at 66.4%. Your company recorded its highest ever Total Revenue and PAT during FY 17-18. This strong numbers resulted in an overwhelming 66% increase in EPS of your company for FY 17-18. Your company registered such progress on the back of remarkable growth in its two key verticals, Warehousing & Transportation and Equipment Rentals.
The logistics industry as a whole is very well poised for positive changes supported by some key initiatives by the Government. GST is a game-changer and will lead to smoother movement of goods while helping increase usability of assets by logistic service providers. The award of Infrastructure status to the logistics industry coupled with launch of key projects like Bharatmala Pariyojana, Eastern Peripheral Expressway - Western Peripheral Expressway, Sagar Mala, Jal Marg Vikas Yojana and Multimodal Terminals will further provide growth opportunities in the sector.
The Government’s push towards infrastructure growth of the country has led to widespread launches and initiatives like the new Metro Lines in Nagpur, Ahmedabad, Pune, Lucknow, Patna, the upcoming Navi Mumbai International Airport, Mumbai Trans-Harbor Link Road, New Ganga River Bridge and many more. Such initiatives are a major boost to the construction equipment industry, which is pegged to reach USD 5 Billion by 2020 from USD 3 Billion in FY16. Your Company is geared up to fruitfully exploit this opportunity to expand its services in the infrastructure sector through the company’s wholesome offering as a Contract Logistics Service Provider. Such wholesome services would derive from your company’s strength in the areas of transportation, material handling, steel processing and construction equipment rental.
Going forward, it is our endeavor at TARACHAND to incorporate technology into our day-to-day operations thus enabling more visibility on areas that are critical to enhance operational efficiency and help eradicate hidden losses. Our dedicated team shall continue to act on and vow by Our Motto, Safety in Toto to ensure a safe workplace for all. Your company has been the front-runner in introducing new technologies in the realm of material handling, steel processing and equipment rental. Our future initiatives shall always be centered around our theme of ''Think New, Act Now’.
Our continued success over the years has been made possible by the trust and confidence of our clients. We have enjoyed the great fortune of a steadfastly committed team of professional trained people that has help us in paying back the faith reposed in us by our valued clients. I take this opportunity to thank and congratulate our entire team, especially the field team, as your company achieved the extraordinary growth in revenue and profits in FY17-18 despite a challenging economy that witnessed the hiccups and hurdles of the many new initiatives of the Government of India.
I, once again, thank all our stakeholders for their faith and support. It is your enduring trust in us that motivates us to strive towards greater heights. Emboldened with your support, we look forward to what we can achieve in the future while drawing from the solid foundation of the achievements from the last three decades.
Chairman & Managing Director
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