Dear Valued Members,
I am pleased to share your company's performance highlights for the financial year
2023-24
The global economy experienced a slowdown in 2023, with growth decelerating to 3.2%.
This deceleration was influenced by several factors, including the implementation of
tighter monetary policies aimed at controlling inflation, ongoing geopolitical tensions,
and a slower-than-expected recovery in China. Additionally, the impact of climate change
was evident, with extreme weather events causing economic losses.
In contrast, India demonstrated resilience, with GDP growth accelerating to 8.2% in FY
2023-24. This acceleration was driven by strong investments in infrastructure and robust
industrial activity, fueled by government spending on infrastructure projects. Despite
moderation in private consumption growth and a slowdown in government consumption due to
fiscal consolidation efforts, India's positive economic climate has intensified demand for
efficient warehousing and logistics solutions. Our company is well-positioned to address
this growing need with our state-of-the-art facilities and strategically located
warehouses.
By providing seamless supply chain operations, we contribute to India's economic
momentum and ensure robust and efficient supply chains that empower businesses to thrive.
We have successfully built and developed 5.5 million square feet of Grade-A industrial
and logistics parks in prime micro-markets including Mumbai (JNPT), Delhi NCR (Farrukh
Nagar), Bengaluru (Malur), Hyderabad (Patancheru), Chennai (Hosur), and Goa (Verna). Our
parks are strategically located near major transport routes and key industrial and retail
centres, offering significant logistical advantages to leading companies in sectors such
as e-commerce, retail, 3PL, FMCG, and express logistics. This underscores our capability
to deliver top-tier infrastructure and support for a wide range of industries.
Our logistics assets are meticulously tailored to meet specific industry requirements
and regional nuances, ensuring optimal efficiency and performance. Designed for fully or
semi-automated warehousing, our facilities significantly reduce the need for manual
intervention. This enables companies across various sectors to benefit from advanced
equipment handling, real-time tracking, efficient transportation, and structured inventory
management.
Central to our operations is a customer-centric approach. We excel in addressing
diverse needs, ranging from strategic land acquisitions and compliance to land development
and comprehensive property management. Beyond developing and maintaining assets, we also
provide build-to-suit solutions, customised to meet the unique requirements of our
clients.
Our commitment to excellence and adaptability positions us as a reliable partner in
India's ongoing transformation, delivering innovative solutions and superior logistics
infrastructure.
Planned strategic expansions
As part of our strategic expansion, we are significantly enhancing our footprint and
service capabilities in key Tier 1 markets across India.
Our upcoming projects include a state-of-the-art 0.97 million sq. ft. facility in
Bhiwandi, Mumbai; a cutting-edge 0.85 million sq. ft. warehouse in Hoskote, Bengaluru, and
a sprawling 0.90 million sq. ft. facility in Mubarikpur, Delhi. Additionally, our 56.5
acres Private Freight Terminal (PFT) in Mubarikpur will revolutionise cargo handling and
elevate logistics efficiency. These developments not only boost our capacity and
geographic coverage but also reinforce our position as India's leading industrial and
logistics real estate developer committed to delivering exceptional services and
innovative solutions.
We are also exploring new opportunities in data centres, multi-modal logistics parks,
in-city warehouses, and other integrated sectors with significant growth potential driven
by global economic and demographic trends. Our strategic growth focuses on establishing a
robust foundation to meet our clients' evolving needs, driving operational excellence, and
fostering enduring partnerships
Embracing technological advancements
Staying ahead in the warehousing industry relies heavily on innovation. Leveraging
advanced technologies such as Warehouse Management Systems (WMS) and automated storage and
retrieval systems (AS/ RS) enhances operational efficiency and accuracy. These tools
optimise storage, reduce picking times, and improve the flow of goods. Additionally, the
use of advanced barcode scanning and RFID technologies enables better inventory tracking
and real-time stock visibility. By adopting these innovations, our operations are
continually improved, keeping us at the forefront of the industry.
Commitment to community and sustainability
Our commitment to sustainability is demonstrated through ambitious initiatives,
including transitioning to renewable energy for all facilities and continuously exploring
methods to reduce our carbon footprint. By integrating sustainable practices into our
operations and optimising our network, we promote environmental stewardship throughout our
supply chain. We are also enhancing community support initiatives, focusing on health,
education, women's empowerment, sports, and disaster relief. These efforts have made a
substantial impact, and we are dedicated to expanding them further.
Looking ahead, we remain committed to ESG principles, ensuring our growth benefiting
both the environment and society. By aligning our actions with the Allcargo Group's
objectives, we aim to create a lasting, positive impact.
Investing in our people
As a leading player in the warehousing industry, we recognise that human intelligence
is a core asset driving our long-term success. The fiscal year 2023-24 was marked by
extraordinary change for our organisation. During this period, we successfully attracted
and retained top talent across all functions, thanks to our progressive policies. These
policies aim to provide employees with rich and varied career growth opportunities while
fostering a truly inclusive work environment.
Looking forward
Looking ahead, FY 2023-24 has been a transformative year for our company, laying a
strong foundation for future growth and success. We have enhanced our capabilities to
strategically expand, reinforcing our position and increasing market share in the
warehousing industry. With strong business fundamentals, we anticipate numerous
opportunities in the near to medium term with significant revenue potential.
I sincerely thank the Board of Directors for their ongoing guidance and support. I also
extend my gratitude to our shareholders, employees, customers, and all other stakeholders
for their continued faith and support. We are proud of our progress and achievements this
year and remain committed to executing our vision for the future.
Warm regards,
Mohinder Pal Bansal
Chairman