Dear
Shareholders,
I
am pleased to present the Annual Report to you for the financial year ending 31st March
2024.
The
company recorded a Revenue of Rs. 503.37 in crores as against Rs. 417.65 crores in; an
EBITDA of Rs. 108.32 crores from Rs. 96.07 crores; PBT of Rs. 25.25 Crores from Rs. 21.50
Crores and PAT of Rs. 12.71 crores from Rs. 13.40 crores vis-a-vis the previous year.
India's
cold chain industry is set for substantial growth, driven by rising demand in
pharmaceuticals, agriculture and food processing. Technological advancements and
supportive government initiatives are further fuelling this expansion. The global cold
chain logistics market, forecasted to increase from USD 293.58 billion in 2023 to USD
862.33 billion by 2032 at an annual growth rate of about 13%, underscores the robust
potential of this sector.
Advancements
in refrigeration technology have improved the efficiency and reliability of cold chain
operations. The rise of e-commerce and online grocery delivery services has also
transformed the market. As more consumers use online platforms for their grocery needs,
there is a growing demand for effective cold chain solutions to manage the storage and
delivery of perishable goods efficiently. Several government initiatives have been
launched to support the growth of the cold chain logistics industry in India.
Despite
challenges such as high initial investment costs and fragmented infrastructure, the
industry is gradually overcoming these hurdles through increased awareness and
technology-driven solutions. Innovations in real-time monitoring and improved supply chain
management practices are enhancing the efficiency and reliability of cold chain logistics
in India.
In
conclusion, the cold chain logistics industry in India is on a promising growth
trajectory. Technological advancements, supportive government policies, and increasing
demand for perishable goods are driving this evolution, positioning the industry as a key
player in ensuring the quality and safety of temperature-sensitive products and
contributing to the country's overall economic growth.
In
our continuous efforts to expand our fleet, we have added 20 new 40-feet trailers and 50
new reefer vehicles. This expansion significantly improves our logistics service, ensuring
safe and timely delivery of goods to our clients. These new additions to our fleet
highlight our commitment to maintaining the highest standards in cold chain logistics.
To
improve our operational efficiency, we have introduced a Vehicle Gate & Token
Management System. This System uses advanced automation and digital tracking to manage and
monitor vehicle flow at our facilities. This comprehensive system digitalizes and
streamlines the vehicle gate entry and exit process, seamlessly integrating with our ERP
system for scheduling, organizing, tracking, and visualizing vehicles within our facility.
By reducing wait times and minimizing manual interventions, it ensures smoother operations
and faster turnaround times, boosting productivity and enhancing overall safety and
security. Additionally, the implementation of the Snowman Order Management System (SOMS)
has significantly enhanced our order processing accuracy and efficiency, especially for
our 5PL distribution operations.
These
advancements allow us to streamline operations, reduce delays, and improve overall service
quality. By optimizing vehicle routes and automating order processes, we can ensure timely
deliveries and maintain the integrity of temperature-sensitive goods. This not only
strengthens our ability to meet the evolving demands of the cold chain logistics industry
but also positions us as a reliable and efficient partner in the supply chain.
Looking
ahead, we are confident that our ongoing focus on technology and customer satisfaction
will drive accelerated growth. We remain dedicated to exploring new technologies and
continuously enhancing our services to stay ahead of industry trends and meet our
customers' evolving needs. Committed to excellence and meeting customer requirements, we
maintain a positive vision for the future and are determined to lead through innovation
and advanced technology.
Note of Thanks
I
wish to thank all our stakeholders, shareholders, investors, customers, employees, vendors
and bankers for their continued support.
Regards,
Prem Kishan Dass Gupta Chairman