Dear Shareholders and Readers,
In the year 2016-17, TCI has once again recorded exceptional financial performance. Market share gains in all business units underline that the focus on industry-specific logistics services and tailor-made solutions met customer expectations. The continuing strong performance also confirms the competence, professionalism and commitment of employees and on behalf of the Board of Directors I would like to thank them.
The past year observed few major happenings at TCI like the demerger of the division TCI Express from its parent company TCI and its listing on the NSE and BSE, the TCI Seaway''''s capacity addition and business expansion through addition of a new vessel in the west coast of India, opening of wholly owned subsidiary in Bangladesh namely-TCI Bangladesh, and inauguration of its first State of the Art Cold Chain Warehouse.
The TCI Group today moves 2.5% of India''''s GDP by value of cargo every year and hence, the theme of "Moving India" is very apt. In an environment where businesses, customers and competition are dynamic and constantly redefined, we maintain our competitive edge through the value-added services we offer. The company was very resilient in challenges of slow industrial growth and demonetization last year and is prepared to facilitate extensive changes due to implementation of the new Goods and Services Tax (GST) in the coming months. We also believe that we are well positioned to capture growth opportunities arising of these macro changes. We have an extensive network of company owned offices, the largest warehousing footprint in the country, a strong information technology backbone and most important of all a committed team of trained employees.
With our strong corporate governance and ethical business practices, a commitment to value creation for our stakeholders and a strong sense of social responsibilities, the TCI Group stands dedicated to protect and preserve our reputation and brand.
Over the six decades of our existence, the TCI family continues to embody a culture characterized by CORE (Customer, Ownership, Responsiveness and Empathy) principles. The Management enjoys the confidence of the Board of Directors to set the right long term strategy for continuing success, thereby, further increasing company value.
Thank you for being part of our Moving India story and we hope you will accompany us on the journey onward.
D P Agarwal
Vice Chairman & Managing Director