Dear Shareholders,
I am pleased to present to you the Annual Report for the financial year 2023-24, a year
that has been transformative and filled with remarkable achievements for Tara Chand
InfraLogistic Solutions Ltd.
Financial Performance
We are delighted to report that this year, our company has achieved its highest-ever
revenue and profitability across quarters, half-yearly, and full-year periods. Our revenue
for FY 2023-24 stood at Rs. 174.86 crores, marking a robust 21% year-on-year growth. The
EBITDA surged to Rs. 58.23 crores, an impressive 36% increase from the previous year. Our
Profit Before Tax (PBT) and Profit After Tax (PAT) demonstrated exceptional growth,
soaring by 71% and 72%, respectively, reaching Rs. 21.71 crores and ^16.13 crores. The
Profit After Tax Margin (PATM) improved to 9.2%, and the Earnings Per Share (EPS) grew by
66% to Rs. 11.29. Furthermore, our Cash PAT and Cash EPS saw significant increases of 43%
and 38%, respectively, underscoring the strong operational efficiency and cash flow
management that our team has maintained.
Infrastructure Growth Outlook of India
India's infrastructure sector is on the cusp of a transformative phase, driven by the
government's focus on building world-class infrastructure to sustain economic growth. With
the government's unwavering focus on infrastructure development, including the National
Infrastructure Pipeline (NIP) and initiatives like the Gati Shakti Plan, the outlook
remains highly promising. The emphasis on renewable energy, urban infrastructure, and
enhancing manufacturing capacities aligns perfectly with our core areas of expertise. We
are poised to capitalize on these opportunities, leveraging our extensive experience and
innovative approach to drive sustainable growth.
Our Legacy in Steel Logistics
Over the past four decades, Tara Chand InfraLogistic Solutions Ltd. has established a
formidable reputation in steel logistics, powered by relentless innovation and a
commitment to excellence. We have evolved with the changing dynamics of the industry,
adapting to new technologies and processes to ensure efficient and reliable logistics
solutions. Our deep-rooted expertise and robust infrastructure have positioned us as a
trusted partner in the sector, enabling us to deliver exceptional value to our clients.
Contribution to Nation's Manufacturing Capacity Expansion
Our company takes great pride in contributing to the expansion of the nation's
manufacturing capacity. In line with our vision to contribute towards the nation's
manufacturing capacity expansion, we have made significant strides. Our efforts have been
directed towards enhancing our capabilities and expanding our footprint in key sectors
such as renewable energy, urban infrastructure, steel, cement, power, and petrochemicals.
Looking ahead, we remain committed to supporting India's manufacturing growth, leveraging
our strengths to create sustainable value for all stakeholders.
Future Plans and Challenges
Looking ahead, we have laid out ambitious plans to expand our service offerings and
geographic reach. We aim to leverage our strengths in warehousing, transportation, and
construction equipment works to enter new markets and sectors. We aim to further diversify
our service offerings, invest in advanced technologies, and strengthen our position in the
market. We acknowledge the challenges posed by economic uncertainties and evolving market
dynamics. However, our resilient business model, combined with our proactive approach to
risk management, positions us well to navigate these challenges and achieve our long-term
objectives.
Success in the Indian Markets and Migration to Main Board
This year also marked a significant milestone as our company migrated from the NSE
Emerge (SME) board to the Main Board of the National Stock Exchange. This transition is a
testament to our success in the Indian markets and the confidence that our stakeholders
have in us. We understand the importance of this trust and are committed to upholding the
highest standards of corporate governance, transparency, and accountability.
In conclusion, I would like to extend my heartfelt gratitude to our shareholders,
employees, customers, and partners for their unwavering support and trust. Together, we
will continue to drive growth and create lasting value for all our stakeholders.
Warm regards,
Vinay Kumar Chairman
Tara Chand InfraLogistic Solutions Ltd.
(Formerly Tara Chand Logistic Solutions Ltd)