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Sustainability at Blue Dart th ANNUAL REPORT 2019-2020 INDIA’S MOST INNOVATIVE & AWARDED EXPRESS LOGISTICS COMPANY CONTENTS BLUE DART EXPRESS LIMITED BLUE DART AVIATION LIMITED O Vision 02 B D 161 G P 05 D’ R 162 B D & M P 06 A’ R 179 B S 184 E M 07 P L A 185 C’ S 08 C F S 186 F S 10 S 189 A & A 14 E E B D 16 CONCORDE AIR LOGISTICS LIMITED S B D 18 B R R 22 B D 220 D’ R 40 D’ R 221 A’ R 230 C G R 77 B S 236 A’ C C G R 99 P L A 237 M D A 100 C F S 238 CEO & CFO C D 111 S 240 B D C C A’ R 112 CONSOLIDATED ACCOUNTS B S 120 P L A 121 A’ R 260 C F S 122 B S 266 P L A 267 S 125 C F S 268 S 271 BLUE DART EXPRESS LIMITED | CONTENTS | ANNUAL REPORT 2019-2020 1 OUR VISION T W BLUE DART EXPRESS LIMITED | VISION | ANNUAL REPORT 2019-2020 2 OUR VISION T W BLUE DART EXPRESS LIMITED | VISION | ANNUAL REPORT 2019-2020 3 Our Guiding Principles W • T . • E • V • G - • E P F’ • E • E - • E . • P • D F T R’ 100 C S • E W S C C • P • A • C - BLUE DART EXPRESS LIMITED | GUIDING PRINCIPLES | ANNUAL REPORT 2019-2020 4 Our Guiding Principles W • T . • E • V • G - • E P F’ • E • E - • E . • P • D F T R’ 100 C S • E W S C C • P • A • C - BLUE DART EXPRESS LIMITED | GUIDING PRINCIPLES | ANNUAL REPORT 2019-2020 5 BOARD OF DIRECTORS EXECUTIVE MANAGEMENT R G i M P M M C H R CMO & H - N O H C I Oficer S U B Mel A Oficer B Dnt C M Dctor D V N I S N S V M S S H - C A H - C S H - I A B H - A & SFC N S A M T N D M MM (R) M D D N Varkey V S V DSuza M B H - P M & H - A P H - Sity H - C O E & R E RS S N D D KEY MANAGERIAL PERSONNEL S S R D S L G B C H - N R H - W 1 R H - S 1 Rgion H - S 2 R A G T G C F Oficer C S & S P S B H - L & C H - W 2 R H - E R BLUE DART EXPRESS LIMITED | BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNEL | ANNUAL REPORT 2019-2020 6 BOARD OF DIRECTORS EXECUTIVE MANAGEMENT R G i M P M M C H R CMO & H - N O H C I Oficer S U B Mel A Oficer B Dnt C M Dctor D V N I S N S V M S S H - C A H - C S H - I A B H - A & SFC N S A M T N D M MM (R) M D D N Varkey V S V DSuza M B H - P M & H - A P H - Sity H - C O E & R E RS S N D D KEY MANAGERIAL PERSONNEL S S R D S L G B C H - N R H - W 1 R H - S 1 Rgion H - S 2 R A G T G C F Oficer C S & S P S B H - L & C H - W 2 R H - E R BLUE DART EXPRESS LIMITED | EXECUTIVE MANAGEMENT | ANNUAL REPORT 2019-2020 7 CHAIRMAN'S STATEMENT In these challenging circumstances, the entire team of 12,000+ employees are working together “As One” and making daily incremental improvements within the company, its policies and procedures. This winning culture continues to positively transform your organization in innumerable ways. Despite such a challenging scenario, Income from operations for the financial year ended March 31, 2020, stood at` 3,16,639 Lakhs. Your Company posted loss before tax of ` 4,720 Lakhs for the financial year ended March 31, 2020 on account of exceptional items in respect of implementation of Ind AS 116 related to Lease Accounting (` 6,662 lakhs), organization right sizing/restructuring (` 6,411 lakhs) and Dear Shareholders, adverse impact of Covid-19 (` 5,420 lakhs) aggregating to ` 18,493 lakhs. Your Company carried over 2,403 Lakhs domestic shipments At the outset, let me wish you all a healthy year and let’s hope that and over 8 Lakhs international shipments weighing more than 769,490 before the year 2020 ends, the world gets rid of the devastating tons during the financial year ended March 31, 2020. pandemic. Considering overall performance for the current year, emerging Overall, the year 2019-20 was a challenging year across the globe. challenges consequent to COVID-19, uncertain economic environment Though Indian economy had begun to regain momentum towards and with an objective to conserve cash and ensure sufficient liquidity for the end of quarter 3 of 2019-20, a country-wide lockdown since late operations, your Directors do not recommend dividend for the financial March, 2020 due to outbreak of COVID – 19 impacted the Indian year ended March 31, 2020. Even as this Annual Report gets published, Economy. The COVID-19 pandemic saw the world grappling with the COVID-19 situation continues to be fluid and unpredictable. Over its widespread impact on the economy. Businesses across sectors the years, your Company has built a strong foundation and best- and geographies were disrupted due to mobility suspension. In in-class processes through ‘Business Contingency and Continuity this challenging environment, Blue Dart worked closely with the Planning’ (BCCP) ensuring business operations run seamlessly coronavirus task force of its parent company, Deutsche Post DHL, to during any unforeseen event. The emergency caused by coronavirus minimise potential impacts and risks to the business. The task force highlights both the challenges and the importance of building a holistic provided vital updates and necessary information which helped in management process. planning, communicating and engaging effectively with the customers and employees on precautionary measures and permissible guidelines Your Company, enacted procedures to protect its employees, to operate across geographies during the lockdown. customers and communities, as their safety is paramount. Blue Darters utilized remote-work capabilities to stay connected and ensured to The nation went into a Lockdown that impacted the economy and keep the trade engine running. It was a proud moment to work with the disrupted the supply- chain. It is estimated that the economy in Apr Indian Government and private healthcare companies, supporting the – June quarter is expected to contract by 40 – 45 %. Our business company’s mission to ensure ‘continuity of the essential supply chain’ from sectors such as BFSI, e-commerce, Automotive was impacted, for the nation in its fight against the COVID-19 pandemic. Blue Dart’s in other sectors like Pharmaceuticals, Medical Equipments, Consumer dedicated six Boeing 757 freighters had been deployed to fly between Electronics, we did well. Indian cities supporting critical shipments of pharmaceuticals and Your Company drives market leadership through its motivated people, medical supplies. The efforts were acknowledged by the Government dedicated air and ground capacity, cutting-edge technology, wide range authorities. of innovative, vertical specific products and value-added services However, with COVID-19 accelerating, the growth of the national to deliver unmatched standards of service quality to its customers economy will be impacted through reduced demand, and further through strong operational execution. Guided by these principles the compounded by supply chain disruptions. India's gross domestic “Blue Dart Way”, led us to maintain our market leadership position in product (GDP) growth during calendar 2020 has been revised to 2.5 the industry. per cent from an earlier estimate of 5.3 per cent, in the wake of the lingering impact of the coronavirus pandemic and later, on May 8, 1 Moody's Investors Service BLUE DART EXPRESS LIMITED | CHAIRMAN’S STATEMENT | ANNUAL REPORT 2019-2020 8 2020, revised to zero. The rating company expects a bounce back In the year gone by, 99.18% of Blue Darters participated in the Annual to 6.6% growth in FY 2022, assuming a gradual pick-up in economic Employee Satisfaction Survey (ESS). ‘Pride in working for Blue Dart’ activity and demand in the second half1. emerged as the highest scored item with 96.4%. This was further validated with prestigious industry recognitions among one of ‘India's The future is more challenging than ever before. Your Company has Best Companies to Work For - 2019’ by The Great Place to Work® put in place measures to mitigate the challenging situation by ensuring Institute, India, ranked amongst ‘Best Multinational Workplaces in Asia business continuity, resource optimisation, improving cost efficiencies, 2019’ by The Great Place to Work® Institute, Asia, voted a ‘Superbrand’ enhancing service quality and investing in technology enabled and ‘Reader’s Digest Most Trusted Brand’, listed as “Company with solutions to drive business growth and provide a seamless experience Great People Managers” by Great Manager Institute and Forbes to for all stakeholders (customers and employees). name a few. Blue Dart is focusing on delivering excellence in a digital world to drive As we embark on this next chapter of our journey, I would like to forward the business. It has streamlined its IT infrastructure adhering to acknowledge and thank our long-term Director, Mr. Malcolm Monteiro, global benchmarks. With a customer focused strategy, your Company who resigned from the Company’s Board with effect from 17 January remains committed to serve its customers and retain its leadership 2020 for his valuable contribution to Blue Dart over the last 3 decades position in the air and ground express logistics industry in India.
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