AGM Speech year 2022
Group Chairman & Managing Director's AGM Speech Year 2022

27th September, 2022

Good Afternoon to all of you,

Dear fellow Shareholders,

A warm welcome to each of you to the 41st Annual General Meeting of Arshiya. It is wonderful to have you all join us here today, and on behalf of the Company’s Board of Directors, I thank you for making the time.

At the outset, I hope that all of you and your family members are keeping well in these difficult times on account of multiple waves of COVID-19.

Undoubtedly previous year has been very challenging due to severe 2nd wave of COVID-19 and geo-political conflicts. Despite all these challenges, your company has shown great resilience and managed to post decent results.

The Company's accounts for the year ended March 31, 2022, along with the Directors' and Auditors' report and Management's Discussion and Analysis, have already been circulated to you.

My dear fellow Shareholders – let’s understand the INDUSTRY OVERVIEW of our business.


The logistics industry in India, considered to be the major growth driver and holds unprecedented importance as it connects various markets, suppliers and customers dotted across the country, and has now been firmly embedded as an integral part of the national GDP value chain. In FY 2021, the size of the Indian logistics market was around USD 250 billion and estimated that this market would grow to USD 380 billion by 2025, at a CAGR of approximately 11%.

Recently, the sector has been witnessing transformation, with the use of technology by both new age start-ups and established players to enhance cargo visibility, reducing errors by digitising documentation processes and by bringing transparency in pricing. Further, the Government has undertaken various initiatives to develop the logistics infrastructure in the country such as recently introduced National Logistics Policy (NLP) which will help India’s logistics infrastructure become globally competitive.

Above initiatives are steps in the right direction, and it has resulted in increase in the interest of foreign investors to enhance their footprint in the country by way of investments in the warehousing and logistics sectors.


Amidst stern challenges we found great opportunities. Our commitment to our core Company values and business philosophy inspire us to take on the challenges head on. Our focus is to provide world-class integrated logistics and warehousing services in India.

It gives me immense pleasure to announce that your Company has recently concluded monetization of new warehouse no. 7 at Panvel with Ascendas (now CapitaLand - a globally prominent infrastructure / real estate investor) for a consideration of Rs. 215 Crs.

The Company has received an order of the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench on 21st January 2022, wherein the Company has demerged its Rail business. This will help the Company to focus on its core competencies of developing, operating and maintaining FTWZ.

With our perseverance your company’s warehousing zones in Khurja (UP) and Panvel have been declared as a multi-purpose SEZ. This will increase the suite of services provided by Arshiya Group to include manufacturing (i.e. assembly of mobile, telephone, other electronics devices and Defence sector for availing off-set benefits) services along with FTWZ services already offered to our customers.

Further, the Company’s collaboration with McKinsey & Company is flourishing with the onboarding of marquee foreign clients such as C. Steinweg Systems Pte. Ltd., ZTE Corporation Limited, Trigon Gulf etc., and reputed domestic clients such as Vedanta, Tata Chemicals, BASF, JSW Paints etc.

In the year ahead, further, debt resolution is another item high on the management agenda. Resolution of debt coupled with asset-light business model on account of partnership with Ascendas will put the Company in a unique position to construct and operate scalable world-class warehouses in an asset light manner.

Our People

Our aspirations are ambitious and execution plans bold. Our motivation and commitment to take it forward is founded on the generous guidance and support of our partners, clients, government and last but not the least the tireless efforts of our workforce at all levels. Employee engagement is the main pillar of our growth strategy. I believe that our existing talent pool will enable us to outperform our peers and meet our responsibilities as an organization to all our stakeholders.

I thank you all for your immense support and continued confidence in our Company and Management. I also like to thank all our stakeholders - customers, directors, employees, partners, shareholders, business associates, government, and society at large, for their Continued faith in entire Team Arshiya.

As we plan and work towards making our business more innovative, by reinventing the way we operate, I look forward to your continued support and encouragement to take our Company to the next level of success and invite you our shareholders, to stay with us as we move forward on this journey.

Thank you,

Ajay S Mittal
Chairman & Managing Director
Arshiya Limited

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