Dear Stakeholders,
It is a great honour and privilege for me to present*the annual report for financial
year ended 2015-16 of your Company.There is no greater motivation for us than the
confidence you continue to repose in us. Over the past sixteen years, I have tried to put
this belief into action through my personal hard work. There is perhaps more certainty in
the macro environment today than there was a couple of years ago.Led by our long term
vision to become a global leader in the industry and guided by our values, we continued to
implement our strategy of building scale across various geographies and increasing market
share.
This year, there have been a significant number of changes within business environment.
What has not changed however is the unique ability of this organisation to continue to
adapt to an environment that remains volatile and challenging, and respond in a manner
that reflects our qualities and experiences. However, on balance, the outlookfor economies
which form the key markets for your company continues to be positive. Developed economies
are expected to fare better in coming years than earlier years. And India is expected to
be amongst the fastest growing economies in coming time.
Company has been growing in a continuous pace, step by step towards success on every
new day. Company has marked several milestones successfully in the present financial year.
You can go through a list of fistful events, whether it's FY 2015-16 turnover where
company remarks a steady growth of 25-30% or its footprints on the overseas where company
has opened its first office in Asia Pacific region. Company has opened an expansion branch
in Singapore as Tiger Logistics PTE Limited with a hope that this expansion will increase
company's involvement in the logistics industry. Also very soon we will register our
presence in UAE too with an expansion branch in DubaiIt's all because of your support
which embarked us to plan such expansions.
At Tiger Logistics, we realize the importance of dealing with change. It is not
sufficient to recognize and react as change happens; it is important to anticipate and
prepare. To do this we need to work both internally and engage with the broader ecosystem.
We do this in multiple ways. We invest significantly in reskilling our workforce to take
advantage of the newer opportunities that arise out of new technologies. At the level of
the enterprise, there is an acceleration in the rate of change of the "normal".
Much of this change is enabled by innovation in technology and rapid adoption of advanced
technologies.
In the year 2015-16, Tiger Logistics was recognized as a "World's Greatest Brands
of Asia & GCC", by the process reviewer Price Waterhouse Coopers India (PWC
India). From last three years, we have continuously strived to enhance stakeholder value
by operating in a sustainable and ethical manner.Our Social and Sustainability Initiatives
are driven by the conviction that corporations can play a significant role in contributing
to building a better society, and that they must.Let me conclude by stating that economic
value is sustainable only if created on a foundation of ethics and responsibility. For us,
this is the driving force in the form of our values and is something that we will continue
to remain completely committed to.
I thank all of you - customers, employees, agents and associates, and shareholders -
for your past and continuing support, engagement and deep commitment.
| Yours truly, |
| Harpreet Singh Malhotra |