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21 Logistics Market in India 22 Logistics Market in India

23 ICRIER Report

24 Indias logistics sector big opportunity for investors - Economic Times Article made for quick last-mile delivery, ending transport-related issues, saving manufacturers time and money, and preventing wasting of agricultural products. The NLP aims to promote seamless movement of goods and enhances the competitiveness of Indian industries.

The policy aims to create a single window e-logistics market and focus on the generation of employment, and skills and make MSMEs competitive. All this will augment the economy in various ways like employment generation, inter-state, and international exchange of goods. This policy move will bring India closer to becoming a global manufacturing powerhouse and pave its way to becoming a logistics hub. The policy also focuses on lowering the cost of logistics from the existing and lead it to par with other developed countries. The goal of this policy is to make the logistics industry more efficient and lower its costs and small businesses and the people who work in them gain profit.

The policy comes with a Comprehensive Logistics Action Plan (CLAP) which details the NLPs specific targets. These include: Reducing Indias logistics cost to be comparable to global benchmarks by 2030 and aiming to be among the top 25 countries by 2030 in the Logistics Performance Index (LPI).

National Logistics Law

A national logistics law has been drafted and is under consultation. Through a unified legal framework for the paradigm of One Nation, One Contract, it would support the One Nation, One Market objective and provide a flexible regulatory environment (single bill lading across modes). The laws provisions will make it possible to assign a distinct logistics account number in place of cumbersome registration processes.

Logistics Master Plan:

This initiative is in the works which takes a geographical strategy as opposed to an industry approach. Several projects and activities will be integrated into the plan to expand the mix of intermodal and/or multimodal transportation. Coordinated construction of relevant infrastructure (gas and utility pipelines, optical fibre cable networks) is planned to prevent problems in the future. An Inter-Ministerial Committee will be used to supervise the master plans execution. The state and local logistics strategies will be created in coordination and cooperation with the federal plans.

National Multimodal Facilities and Warehousing:

In order to promote Intermodal and Multimodal Logistics Parks (MMLPs) as a separate class of infrastructure and to encourage efforts with a national registry of multimodal facilities to enable price discovery, ensure optimal utilisation, and support planned development, the National Grid of Logistics Parks and Terminals is being planned. Furthermore, the government has begun to devise certain standards and guidelines that will be implemented for the development of warehousing. The government plans to optimise procedures for obtaining clearances that make the procedure of establishing warehouses more efficient, along with setting up a system for rating and certifying those warehouses for excellence.

Digitisation

The Logistics division has designed a digitisation initiative to provide an integrated IT foundation that would boost productivity, reduce wasteful travel and provide a slick user experience. The standards for the National Logistics Platform (iLOG) are currently being finalised in conjunction with the Ministry of Electronics and Information Technology (MEiTY). The iLOG will work to integrate a single platform for the various IT solutions that have been developed by various stakeholders, including logistics service providers, purchasers, and central and state government agencies such as customs, Directorate General of Foreign Trade (DGFT), railways, ports, airports, inland waterways and coastal shipping.

National Logistics Workforce Strategy:

For the integrated skill development of professionals in the logistics sector, the government is developing a national logistics workforce strategy. One of the aspects of the plan is the Driver Employment and Empowerment Programme which it aims to lower logistics costs by making truck driving a desired career due to the severe scarcity of truck drivers.25

Combined Programmes with National Logistics Policy (NLP)

The NLPs transformational capacities further increase when combined with previous connectivity and infrastructure improvement programs like:

The Gati Shakti Programme

"Gati Shakti and National Logistics Policy together are now taking the country towards a new work culture" Narendra Modi,Prime

Minister of India

PM Gati Shakti, also known as the National Master Plan for multimodal connectivity, which was introduced in the previous year, was an essential first step. Establishing the National Logistics Policy will support the PM Gati Shakti initiative and complement it. PM Gati Shaktis goal is to implement infrastructure connectivity, including roadways and railways projects across the nation, in a coordinated manner.

While Gati Shakti focuses on the development of integrated infrastructure, the NLP is concerned with creating digital services and a regulatory framework that will help streamline the logistics ecosystem in India. The NLP also offers an e-handbook for standardisation of warehousing in the country.

The Sagarmala Programme

Sagarmala Mission envisions using the potential of the coastline and waterways to reduce the amount of infrastructure needed to reach its targets.

The Bharatmala Programme

The Bharatmala programme focuses on reducing critical infrastructure gaps to increase the effectiveness of road traffic circulation across the nation.

PERFORMANCE REVIEW

In 2022, we achieved great acceleration in various areas impacting our customers through better service quality, improved transit times, products & services, reaching more cities & pin-codes. Blue Dart created new benchmarks in the industry with improved focus and determination to be the Provider of Choice for our customers. The focus on customer centricity remained along with accelerated growth through revenue and shipments and further gains in market share.

As the nation embarks on the journey to make logistics more efficient & effective, thereby improving the Logistics Performance Index vis-a-vis developed nations, Blue Dart supports these efforts as the Logistics Company of Bharat. Various initiatives by Government of India, such as the western DFC (Dedicated Freight Corridor) & fast racking the other 3 DFCs, Sagarmala project (Inland waterways), Make In India (industrial clusters along logistics routes), Tech based security to reduce pilferage, Schedules trains to move goods faster etc. further enhance the sectoral offerings. Blue Dart is the market leader in Express logistics space, our image with all stakeholders is very strong as a Reliable, Responsive & Resilient company. We deliver the best products and services at the relevant price, with good service quality, lesser transit time, wider reach and our customer service is the benchmark for many other companies. Exceptional Service Quality remains one of Blue Darts major pivots, alongside automation and technology, towards providing customers with a hassle-free one-stop solution for all their logistics requirements. Our enhancement in both air and ground package handling capacity is on track with Blue Dart Aviation expanding its fleet with the inclusion of two Boeing 737 aircrafts. This aircraft is ideal to reach smaller airports thus increasing connectivity across the country and creating value for stakeholders. As all our customers prepare to build business resilience to overcome disruptions, we are committed to delivering promised value. Our growth as the ‘Logistics Company of Bharat reflects our stepped-up business efforts towards further strengthening our customer and stakeholder promise.

The role of logistics has been highlighted over the last two years, given our industrys essential service status, and this has only been possible because of the technology-based solutions adopted by resilient players. Technology has been a major pivot for us, and the pandemic only catapulted our innovation further. As a part of the DPDHL Group, ‘Strategy 2025 Delivering Excellence in a Digital World is important to us and therefore, our initiatives are tailor-made to ensure lean operations that helped us ramp up and achieve high service levels at short notice. We are already taking significant strides towards creating technology that is future-ready, thereby opening the door for stakeholders to accept sustainable logistics that aim to shrink the ecological footprint. We will continue to innovate in this area in order to reach our goal of being a Sustainable Logistics Provider of Choice.

Every Blue Dart team member has continued to play an important role in building business resilience in an uneasy world of global disruptions and uncertainty by demonstrating the organisations core values of Passion, Can Do, Right 1st Time, and As One at all times. With dedicated freighters in the air and network route connections on the ground, Blue Dart continues to support the nation by providing an unrivalled service across the vast and diverse Indian geography. During the year, Blue Dart carried over 3,273.71 Lakhs domestic shipments and over 8.23 Lakhs international shipments, both weighing more than 11,54,000 tonnes. Given the challenges and volatility of markets that continued to unfold this year, Blue Dart performed significantly through FY 2022-23.

For the year ended March 31, 2023, Blue Dart on a standalone basis reported Income from operations of 5,17,222 Lakhs (previous year - 4,40,902 Lakhs) and posted net profit after tax, on a standalone basis of 36,644 Lakhs (previous year 37,644 Lakhs).

Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios along with detailed explanations are as under:

Notes:

1. Profit before tax for the year of 49,874 Lakhs as against a profit before tax of 50,353 Lakhs in the previous year

2. Higher sales, efficient working capital management has enable purchase of two new aircraft during the year and with no external borrowings.

COMPANY OVERVIEW

Blue Dart is South Asias premier express air-integrated transportation and distribution express logistics company since its inception in 1983. Over the last 39 years, the organisation has centred the business around providing individualised customer solutions to ensure exceptional service quality. The company offers secure and reliable delivery of consignments to over 55,000+ locations in India. Blue Darts award-winning services are supported by six Boeing 757-200 freighter aircraft, two Boeing 737 aircraft (to be inducted soon), a flotilla of over 12000 vehicles, 2,347 facilities, and 286 e-vehicles.

Blue Dart is a provider of choice for its stakeholders due to its customer centric approach and aims to further strengthen this partnership. As part of Deutsche Post DHL Groups DHL eCommerce Solutions division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc. Since 2005, Blue Dart has been a member of the Deutsche Post

DHL (DPDHL) Group. Blue Dart joined the newly restructured DHL eCommerce Solutions division in 2019. This division is focused on providing high-quality solutions to customers, particularly those in the rapidly growing eCommerce industry. Leveraging the groups footprint, Blue Dart intends to continue being a customer favourite and living up to the groups motto of ‘Excellence: Simply Delivered. The companys USPs are exceptional service quality, individualised delivery solutions, a reach that extends into the Indian heartland and unmatched speed that ensures the shipments reach on time, every time.

As the trailblazer in creating benchmarks for express logistics, Blue Darts goal is to create a platform that will provide the best national network, with a strong emphasis on expected delivery date and time, critical solutions that can ride on the most cost-effective network for last-mile deliveries. The platforms design goal is to generate profitable growth across all industries and customer segments. Our unique selling points are exceptional service quality, well out thought delivery solutions, our network penetration that extends into the heartland of Bharat, and unrivalled speed, which ensures that all shipments arrive on time, every time. Blue Darts key offerings are the air and ground express segment as well as air freight, speed trucking and charters through its synergies with the Deutsche Post DHL business units DHL Express, DHL Global Forwarding, DHL Supply Chain and DHL eCommerce LLP. Our global network through DHL Express spans over 220 countries and territories, making Blue Dart the only express logistics company to offer an unmatched delivery capability encompassing the entire spectrum of distribution services. Blue Dart provides a wide range of innovative and simplified solutions across industry verticals, as well as a dedicated air and ground network, high-standard technology infrastructure, value pricing, customer satisfaction, excellent service quality, and exceptional operations delivery. Since 1983, Blue Dart has maintained its technological leadership and continues to invest heavily in its technology infrastructure in order to provide customers with differentiated delivery capabilities, products, and solutions. Our key differentiators continue to be late pick-up/early delivery, a securitised network, 24x7 visibility allowing for tracking across the complete delivery chain, APIs integrated with customer requirements and other technology, mobility solutions such as dynamic re-routing, visibility of courier movement, and providing access to monitor net-stops from the service centre to enhance courier and route productivity. Blue Dart continues to innovate and create for our customers to ensure user-friendly and efficient technological solutions. This includes our Contact-Less Delivery Service as well as our ‘My Blue Dart mobile application. As part of Deutsche Post DHL, everything we do serves one purpose: Connecting People and Improving Lives. This commitment guides our efforts and sense of responsibility, underscores our values, focuses our mission, and creates long-term value. Blue Dart focuses its corporate responsibility on three key pillars: GoTeach (Championing education), GoGreen (Protecting the environment) and GoHelp (Disaster management response), successfully impacting communities and the environment. Blue Dart is aligned to Groups Net Zero Emissions by 2050, which includes four interim goals that we want to achieve by 2030; Electrify 60% of first and last-mile delivery vehicles; Increase the use of sustainable fuels in air, ocean and road transportation to >30% by 2030; Design 100% of all new owned buildings to be carbon neutral and Offer sustainable alternatives for 100% of all core products & solutions. Additionally, as a responsible corporate, Blue Dart since 2017, has been planting 111,000 trees every year. Till date, your company has planted 666,000 trees in various geographies of the country which will offset 1,32,20,000 Kg of CO2 per year, on maturity. This contributes to over 10% of the DPDHL Groups global target of planting 1 million trees a year. Towards this, Blue Darts sustainability roadmap calls for clean operations for climate protection, a great company to work for all and building a highly trusted company. We have set milestones along the way to focus our efforts and measure our progress. Blue Dart has launched many initiatives to ensure it is doing its bit to aid the world in its battle against climate change and global warming.

PRODUCTS

Blue Dart is Indias market leader in premium express logistics. The award-winning product and service offerings provided to customers contribute to the organisations trust and loyalty. We are currently the only express carrier in the country that provide a full range of services ranging from shipping of a single document to a charter load of shipments. Our services are constantly monitored in order to maintain a net service level in the vicinity of 97%. The company offers services in the air express segment, the ground express segment as well as multi-modal express solutions in the day-definite and time-definite delivery schedules. Blue Dart is the only express logistics operator with its own fleet of scheduled Boeing 757-200 freighter services offering a larger capacity than any other domestic airline in the country. Our focus through our air express solution is to carry shipments as our primary business, rather than as a by-product of a passenger airline. A dedicated aviation system to support Blue Darts services is self-sustaining, with its own bonded warehouses, ground handling and maintenance capability.

The key market-defining domestic express offerings include Time Definite Solutions (Domestic Priority 1030, Domestic Priority 1200, Dart Apex 1200), Day Definite Solutions (Domestic Priority, Dart Apex, Dart Surfaceline) as well as the Temperature Controlled Logistics (TCL) solutions.

Domestic Priority:

These services are specially designed to offer time-critical businesses a competitive edge with the fastest delivery services.

• Domestic Priority 1030: A guaranteed door-to-door time-definite delivery of shipments by air the next possible business day by 10:30 hours, targeted at time-critical business-to-business needs.

• Domestic Priority 1200: A guaranteed door-to-door time-definite delivery of shipments by air the next possible business day by 12:00 hours, targeted at time-critical business-to-business needs.

• Critical Express: A door-to-door, day-definite express service delivering critical shipments such as passports, tenders, original papers/certificates, property documents, etc. across India, under 32 kgs per package, delivered securely and safely.

The fastest, most reliable, domestic door-to-door delivery service for documents and small shipments under 32 kgs per piece, across India. It offers unfailing reliability and speed with the value added benefits. This service is available within India.

Dart Apex:

Dart Apex is a door-to-door day-definite delivery service for domestic shipments weighing 10kgs and above. It is the fastest, most efficient delivery solution for commercial shipments that are time-bound and are required to undergo regulatory clearances or require special handling. Dart Apex offers an economical Airport-to-Door and Door-to-Airport service from the major airports of Chennai, Bangalore, Mumbai, Delhi, Kolkata, Hyderabad and Ahmedabad to all the Dart Apex locations serviced and vice versa. Dart Apex 1200: A guaranteed door-to-door time-definite delivery of commercial shipments by Air that require regulatory clearances and specialised handling on the next possible business day by 12:00hrs, targeted at time-critical business-to-business needs.

Dart Surfaceline:

Dart Surfaceline is an economical, door-to-door, ground distribution service to over 55,000+ locations in India for shipments weighing 10 kgs and above. It offers a cost-effective logistics option for less time-sensitive shipments.

Blue Dart also offers a host of value-added services:

- COD (Cash on Delivery)

The invoice value of the shipment booked by a customer will be collected from the consignee in the form of cash at the time of the delivery. The cash collected from the consignee will be returned to the customer to complete the transaction.

- DOD (Demand Draft on Delivery)

The invoice value of the shipment booked by the customer will be collected from the consignee in the form of a demand draft at the time of the delivery. The demand draft collected from the consignee will be returned to the customer to complete the transaction.

- FOD (Freight on Delivery)

The freight of the shipment will be collected from the consignee at the time of delivery.

- FOV (Freight on Value) - Insurance Arrangement

Blue Dart Express ("BDE") can facilitate arrangements to insure shipments through an insurance company. In the instance of shipment damage or loss while in BDE custody, BDE would assist the customer in the claims process and ensure the claim is settled in the minimum possible time after the shipper/ consignee handover required documents to the insurance company.

- Digital Prepaid Card

This service helps customers manage their booking with real-time visibility of payments and balance along with a view of the summary and ledger. This digital prepaid solution is a hassle-free option for the customer featuring an instant recharge mode along with an OTP for high security, and can be recharged as per fluctuating business needs with no minimum balance requirement.The Blue Dart portal has a convenient and intuitive user interface that helps with quick on-boarding and offers same-day shipping options as well. Through this solution, BDE expects to Go-Green with digital billing, reducing sales administration, and giving customers the time to focus on their core businesses.

Dart Plus:

Dart Plus is an economical speed trucking solution. It is ideal to move time-sensitive shipments with transit time superior to the traditional Dart Surfaceline service. Day-definite delivery service is backed by speed, security and handling.

Point to Point (P2P)

P2P is Blue Darts ground distribution service for bulk shipments from the point of origin to the point of destination.

Temperature Controlled Logistics:

Temperature Controlled Logistics solutions are backed by extensive and reliable express distribution, dry ice supplies including free top-up replenishments, real-time shipment status information, regulatory clearance, validation services and project management. The packaging is constructed from recyclable, environmentally friendly and cost-effective material. The innovative Temperature Controlled Solution ensures safe and compliant transport in frozen, chilled and ambient conditions. Using appropriate cooling mediums, the packaging performance delivers temperatures in the range - 20?C, 2 - 8?C and 15 - 25?C for varying distribution times.

Packaging Solutions:

- Express Pallet (Air and Ground)

The Blue Dart Express Pallet is a convenient, flexible yet economical way to send oversized goods domestically. It is a special wood-free palletized packaging, which can be built to accommodate shipments for freight as heavy as 50kg, 75kg or even over 100kg.

- Smart Box (Air and Ground)

Smart Box - Air Express and Smart Box - Ground Express are convenient, economic, packaging units priced to include a door-to-door delivery service within India. The units come in 2 sizes, 10kgs and 25kgs, and are designed to accommodate a variety of products.

- Smart Box Lite

Smart Box Lite is designed to prevent electronics from getting damaged while shipping. This solution ensures the safety of your gadgets, from choosing the right transportation mode to right sizing the packaging, it is a stress-free solution for electronic shipments. This solution is a good match for all business and personal requirements and is intended to deliver laptops, tablets, and iPads, while providing a convenient, secure, and reliable service to customers

University Express Baggage:

Blue Darts University Express Baggage, is a discounted service for the student community through air and ground mode within India. We offer a hassle-free, simplified delivery of student baggage from home to University or University to home.

Aviation Solutions:

- Airport to Airport:

The airport-to-airport service is an air freight service available on the flights operated by Blue Dart Aviation between the airports of Kolkata, Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Ahmedabad. The advantages of an airport-to-airport service are no Cooling-Period, Late Night Cut-off & Early Morning Deliveries and a larger capacity than any other domestic airline.

- Interline:

This facility enables the distribution of imports within the country and has provided exports access to and from the gateways of international airlines. This provides international airlines with a cost-effective option to restrict their on-line stations within India, and enhance their marketing possibilities at off-line locations by utilizing the distribution capabilities of Blue Dart Aviation.

- Charters:

Charters are operated on an ad-hoc basis. Normally, charters have been used where timely delivery of sensitive equipment or large loads are required.

Technological Solutions:

Initiatives such as ‘On-The-Move ("OTM") handheld devices, Retail Point of Sale ("POS"), Reverse Logistics (Open and Close), offering 16 Digital Wallets on Courier Handhelds, Call Bridge facility to create a personalised customer experience have all been appreciated as industry-leading solutions and benchmarks. Blue Dart has also pioneered the Contact Less Delivery ("CLD") service during the pandemic to ensure a healthy and safe delivery process to provide a customer experience without the fear of contagion.

Global Solutions:

The Companys global presence is enabled through the DHL Document Express ("DOX"), DHL Worldwide Package Express ("WPX") and a wide range of packaging solutions. DHL Import Express is a unique single window importing service that takes care of all importing needs by offering door-to-door convenience services. X-Border International Services is another unique and strong service offering. Duties & Taxes Paid ("DTP"), Express Pallet, Shipper Interest Insurance ("SII") and Express Easy-Student are some of the other offerings.

Blue Dart Med-Express Consortium

Blue Dart had anticipated a demand for future-ready tech solutions to ensure supply chain continuity. Last year, along with our partners, we successfully launched the Blue Dart Med-Express Consortium under the ‘Medicine from the Sky initiative, supporting the Ministry of Civil Aviation, Government of Telangana, World Economic Forum and Niti Aayog in their effort to offer healthcare services to every individual across the nation. The initiative leveraged the use of drone flights to build robust healthcare infrastructure in the remotest areas of the nation. These Unmanned Aircraft Systems or drones can even handle Blue Darts specialised Temperature Controlled Shipments with a payload of up to 5kgs. They are equipped to pick up and deliver the shipment from the distribution centre to the towns that need the medical supplies and vice versa. Our goal is to extend this service and provide for the majority of Indias population who live in hard to access areas. We are keen on being their Provider of Choice as well and bringing the world figuratively speaking to their doorstep. We will, therefore, be happy to collaborate with other State Governments and industries across verticals. This will ensure that across the Blue Dart country customers can access an efficient contactless delivery experience.

Blue Dart Aviation

In May 2014, Blue Dart Aviation Ltd. ("BDA") was incorporated as a 100% subsidiary of Blue Dart Express Limited. The first domestic freighter operations in India run by BDA was a fleet of two Boeing 737-200 freighters in 1996 , since then the company has consistently updated its fleet to serve the increasing customer demand.

Currently, Blue Dart Aviation operates a total of six Boeing 757-200 freighters. Blue Dart Aviation has expanded its fleet with the inclusion of two Boeing 737 aircrafts. In the year under review, the aircrafts continued to operate across our scheduled network of seven airports (Kolkata, Delhi, Mumbai, Bangalore, Chennai, Ahmedabad, & Hyderabad) and serve domestic and international charter operations. The company would soon be adding Guwahati airport to its network.

CUSTOMER CENTRICITY

Customer centricity is pivotal at Blue Dart. As Provider of Choice for our customers our commitment is to ensure a smooth and hassle free experience. International crude prices and foreign currencies specifically witnessed high volatility, which lead to a high inflationary ecosystem for our customers. This gives us all the more reason to bring value to the table for our customers. Blue Dart has been rigorously working towards enhancing its package handling capacity both on air and ground to handle increased volume and improving service quality. Blue Dart designs each product and service offering while keeping the customer at the centre of our business.

As the world continues to grapple with geopolitical conflicts, supply chain and global trade disruptions, India Inc. has successfully demonstrated resilience and are constantly rethinking strategies to accelerate business transformation. Today, Indian businesses do acknowledge that they are at critical crossroads when it comes to bringing about systemic changes for a more sustainable and inclusive future. It is therefore no wonder that countries, communities and businesses are keen to build resilience capabilities across several dimensions Human, Financial, Operational and Technological.

Past investments on digitalisation in India were critical in enabling Digitisation and the adoption of technology started which commenced before 2019 but the acceptance process started rapidly during the pandemic, thereby ensuring the continued delivery of services through the pandemic. Blue Dart has already made extensive investments in infrastructure, manpower, new-age technology and automation to drive business growth and create value for all in the long run.

Blue Dart has been acclimating data analytics, Artificial Intelligence (AI), drone technology to support last mile delivery to transform the express logistics industry. Furthermore, increasing demand generation from emerging towns across Tier II, III and IV cities will also play the role of a major growth driver. Hence, Blue Dart has started amping up its network penetration across the length and breadth of Bharat.

The core values were upheld through several frameworks to ensure that they were targeted to detect and manage risks that could have a substantial impact on the organisations ability to achieve its strategic goals.

Moreover, individualised solutions were curated keeping in mind the needs of our customers. Therefore, during the festive season, we launched the Rakhi Express, Diwali Express, Merry Express, and Ugadi Express offers, through which our customers celebrated the festivities, feeling close to their loved ones even if they were miles apart. We also launched Smart Box Lite, a special packaging for laptop delivery, and Digital Prepaid Solution, an additional service on the Blue Dart portal for helping our customers manage their booking with real-time visibility of payments and balance along with a view of the summary and ledger. This digital prepaid card is a hassle-free option for the customer featuring an instant recharge mode along with an OTP for high security.

To provide customers with a superior experience, we use technology-enabled mobility solutions for administering specialised pickups of product returns, which also include quality control checks, product image verification and close coordination for timely pickups. Our goal is to ensure that all Blue Dart stakeholders are served efficiently.

Our outstanding effort was recognised by our customers, who wrote to us across our mailing platforms, social media and other channels with their appreciation for our teams and services. Being part of the Deutsche Post DHL Group and a nationalized operator, we work with standardised processes and continue to optimise our offerings ensuring quality services to our customers. We, therefore, keep ourselves updated on our customers evolving requirements through our ‘Key Account Management Programme and the ‘First Choice Programme. Our Net Promoter Approach identifies improvement areas highlighted by customers, thus helping us service them, better. Our colleagues ensure that they interact with our customers individually to translate customer challenges into continuous improvements areas. These programmes are tailored to ensure that the voice of the customer is heard and their feedback is acted upon to deliver customer delight consistently and in a process-driven manner. Despite challenging geographical features and a difficult infrastructure landscape, we were able to consistently improve delivery reliability in the country. We consistently work to maintain our value-driven quality and achieve outstanding customer satisfaction ratings. Through these efforts we are able to address the requirements of being the Provider of Choice for our customers. Our key differentiators are the quick delivery and fast turnaround service time we offer, while ensuring customers shipment is in perfect condition. As we continue to serve diverse industries such as eCommerce, Automotive, Banking, Financial Services, Electronics etc. and build loyalty, the successful customer loyalty programme ‘Blue Points Amazing Returns will be further strengthened to enable, nurture, grow, build and sustain strong revenue streams and profit pools. Digitilisation, affordable data, and smartphones are bridging the long-standing gap between India, which resides in cities, and Bharat, which is home to the countrys Tier II and III cities. The impact of this can be seen in the spike in the number of e-commerce platforms, which serve nearly all the PIN CODES in the country, bridging geographic, linguistic, and social divides along the way, benefitting both buyers and sellers. The market share of tier 3 cities, in eCommerce industry, grew from 34.2% in 2021 to 41.5% in 2022, while that of tier 2 cities rose from 19.4% to 21.4%, during the same period. Also, Governments programs like Make in India, Vocal for Local, have fuelled this growth, leading to an increase in the logistics requirements of smaller towns in the country. Blue Dart is serving the length and breadth of the country, particularly the underserved markets in Bharat, with an emphasis on customer delight Our continued focus remains on being the Provider of Choice for all our customers, across markets. Through its services, Blue Dart is enabling effective and efficient operations for SMEs and MSMEs across all the pin codes, by working with them to expand their services to reach even the remote pockets of the country. When it comes to operational efficiency, Blue Dart acts as a catalyst in facilitating business for sectors such as eCommerce, Pharmaceuticals & Medical devices, BFSI, Consumer Electronics and Automotive among others.

DIGITALISATION AS A KEY LEVER

Logistics forms the backbone of the majority of industries. The pandemic has exposed the fragile nature of global value chains and the interconnectedness of our world. As countries emerged from lockdowns and demand for products and resources rose, an international supply chain crisis erupted, resulting in the greatest supply shock in a generation. Consequently, firms have begun restore operations and build more regional and localised supply chains enhanced by digitalisation and automation to provide better levels of assurance and future business resilience. The industry is propelling itself towards a digital transformation because large enterprises have numerous stakeholders in different countries within the supply chain. It is imperative to use intelligent networking and predictive analytics to stabilise the entire supply chain and anticipate and avoid potential failures or disruptions.

It is now evident that digitisation and automation are no longer optional in the logistics industry: they increase efficiency while decreasing costs, which in turn improves the bottom line. Embracing logistics 4.0, cloud-based management platforms, and AI, as well as autonomous vehicles and drones, have all proven to have a direct impact on a companys ability to differentiate itself from the competition, increase profits, and accelerate growth. Supply chain management software (SCM), IoT devices and automated back-office processes such as order, inventory, and enterprise resource planning software, are all prevalent.

As Blue Dart is an essential service provider, we focused on digitalisation and prioritised processes to drive productivity and efficiencies across various functions in the organisation. The goal is to maintain a smooth flow within the organisational functions order to avoid bottlenecks in the processes. Our initiatives and focus continue to be on minimising risk for our customers and colleagues while ensuring business continuity. We see systematic digitalisation throughout the company as a critical lever for propelling the company forward. We consistently invest in initiatives that improve both the customer experience and the manpower-technology combination, resulting in improved operational excellence.

The future holds an underlying theme of enabling digitisation in the day to day operations. This would mainly entail creating business models and having systems and processes in place to ensure business continuity even during disruptions.

At Blue Dart, technology and digitalisation have always helped us remain one step ahead of the curve in a highly competitive industry. In FY2022-23, the most notable innovations at Blue Dart enabled us to continue our growth trajectory, increase our creativity in expanding our reach, and deliver exceptional service quality to our customers no matter where they were.

As a roadmap to our digitisation initiatives, Blue Dart launched the Digital Prepaid Card this year. We expect to Go-Green with digital billing, reducing sales administration, and giving customers the time to focus on their core businesses. The digital prepaid card technology is smart, secure, easy and fast; this development will accelerate the logistics industry to a great extent. The shift to providing digital solutions helped us take one step closer to the nations ‘Digital India dream.

With innovation at the forefront of our operations, Blue Dart led the way, leveraging future-ready technology to its advantage to deliver a superior customer experience. Leveraging the power and reach of our network penetration, Blue Dart was able to extend its reliable, resilient, and responsive last-mile delivery to the remotest parts of the country.

Apart from this, the ‘My Blue Dart mobile app went through a further tech upgrade. The app got new additions with respect to Personal User, Guest and Business Login Features. The user-friendly, secure and reliable mobile application further enhanced the experience for customers.

OPPORTUNITIES AND FUTURE OUTLOOK Opportunities

Logistics sector is the backbone of a strong economy, as many industries rely on it. Hence, even the Union Budget for 2023-24 has set its focus on urbanisation and digitalisation through responsiveness on green energy, green equipments and green mobility. Further on, this budget indicates 33% increase in Infra Budget, INR 10,000 Cr funds allocation on urban transport, 50 new airports to improve regional connectivity. Additionally, it also has highest ever railway outlay of 2.40 lakh crore along with proposed Public Private Partnership (PPP) for coastal shipping and transportation needs, to enhance rural connectivity. Largely, this budget will eventually accelerate implementation of the double engines of PM Gati Shakti plan and National Logistic Policy (NLP). Implementation of NLP will help in organising the logistics industry and will also help in generating employment and better skills, along with making medium and small enterprises more competitive. The policy aims to promote the seamless movement of goods, overcome transport-related challenges, encourage digitisation and significantly reduce logistics time and cost. Reduced logistics costs shall help improve Indias competitiveness, both in the domestic and export markets, by improving efficiency across all sectors. These changes in the logistics industry will help to lower the cost of logistics by reducing the over-dependence on the road sector, thereby reducing congestion and ensuring better asset utilisation. Once all these factors are implemented in the Indian logistics industry, they will benefit the country by ranking amongst the top 25 countries by 2030 (currently ranked at 44) in the logistics performance index rankings as also creating a data-driven decision support mechanism for an efficient logistics ecosystem. Basically, making the first mile to last mile journey seamless.

Future Outlook

The logistics industry in India is undergoing a transformative phase, with several key trends driving its growth and development. From advancements in technology to shifting consumer behavior to significant improvements in infrastructure, some key factors are set to shape the future of logistics in India for years to come. Government initiatives like National Logistics Policy of India and PM Gati Shakti National Master Plan have the potential to boost trade within and outside the country. As they seek to integrate various logistics services and create a seamless supply chain network, these plans will increase the competitiveness of Indias logistics sector by reducing costs, improving efficiency, and increasing the use of technology. The focus is also on integrated infrastructure and network planning for efficiency in services (processes, digital systems, regulatory framework) and human resources. Specifically, supply chain digitisation will streamline the process by incorporating digital technology into various supply chain activities, resulting in a more organised, efficient, and resilient logistics industry. The rapid growth of eCommerce has also had a significant impact on the logistics industry. Consumers increasing demand for international products, as well as an increase in MSMEs (Micro, Small, and Medium Enterprises) selling overseas, will drive the next wave of eCommerce growth. This trend is also impacting the B2B market. Today, millennials are responsible for maximum professional B2B purchasing decisions and they want an online interface. As a result, as more consumers turn to online shopping, the demand for efficient and dependable delivery services has skyrocketed. The D2C customer segment is also rapidly expanding, particularly in Tier II, III, IV, and rural markets. This advancement is the result of improved internet connectivity, digital payments, and banking channels.

Keeping the future outlook in mind, there is a growing sense of commitment among businesses and governments to reduce their carbon footprint and become more sustainable. This includes using alternative energy and electric vehicles to implement low-carbon solutions. Customers are also becoming more conscious of the environmental impact of their purchases and are seeking better alternatives, such as shopping with "green" brands and choosing sustainable delivery options. Being the trailblazer in the industry, Blue Dart has already started prepping for future. The company has refocused its efforts on cutting-edge technologies for efficient last-mile delivery, introducing solutions such as Digital Prepaid Cards in the hopes of saving paper through digital billing and reducing sales administration. The digital prepaid card technology is smart, secure, simple, and fast; this advancement will greatly accelerate the logistics industry. To better serve the growing demands of Bharat, the company has also acquired two Boeing 737-800 aircrafts to increase its network penetration specially in Tier II, III & IV markets.

RISKS AND CONCERNS Air Express

Air Express is a vital part of the global economy, responsible for the rapid and efficient transportation of goods around the world. Recently, the industry has faced various challenges, from rising fuel costs and increased competition to the long-term ripple effects of the COVID-19 pandemic. Looking ahead, there will be several key trends to keep an eye on, which will influence not only how the industry operates but also how it serves its customers. The growth of eCommerce has had a significant impact on the air freight shipping industry. With more and more people turning to online shopping, the demand for fast and reliable delivery of products has increased significantly, and air express is naturally well suited for this logistic challenge.

Inflation, consumer spending, and inventories all impact the volume of cargo carried by air and have proven to be less predictable since the pandemic. The air cargo industry has lacked comprehensive digital integration for too long and that a focus on digitisation will enable stakeholders to be more agile and better adapt to these rapidly changing market conditions.

Clearly, end-to-end digital processes have the capacity to transform the air cargo industry and are expected to continue to improve efficiency, reduce costs, and increase transparency in the months and years ahead. The airline industry has long acknowledged its role in contributing to global greenhouse gas emissions. There is a growing focus on sustainability to reduce its environmental impact and address concerns related to climate change. The air cargo industry has to work towards improving its sustainability through the use of alternative fuels, including sustainable aviation fuel (SAF). While traditional jet fuel is still being used, there are sustained efforts being made towards developing and testing alternative fuels.

In the years ahead, Air Express services will face competition from other modes of transportation such as sea and rail due to an increasing focus on setting up infrastructure, as other modes are more cost-effective as compared to air express services.

Ground Express

The ground express industry has faced numerous challenges in recent years. With increasing globalisation, complex supply chains, and more volatile customer demand, organisations must now strive to provide timely and cost-effective services. Managing the safety, security, and compliance of the customers shipments can be time-consuming and expensive, and it requires extensive resources and capital investments to ensure appropriate procedures are followed. Finally, some of the most profound challenges come from technological advances as companies increasingly look to automate processes and move to the cloud to drive greater efficiency. Yet, no matter the challenge, companies must find the right solutions to remain competitive and meet customer expectations while also safeguarding their brand reputation.

Despite the challenges, there is a tremendous opportunity in the sector from a logistics and warehousing point of view specifically develop the necessary infrastructure to meet increasing demand. In particular, the creation of an integrated platform to bring all the agencies and documentation systems is a mammoth task. But the policy paves a path for the development of the Unified Logistics Interface Platform (ULIP) and Ease of Logistics Services (e-Logs) integrated solutions²⁶. As the governments initiatives like the

National Logistics Policy and PM Gati Shakti Plan aim to cut Indias cost of logistics operations, the major concern would be timely implementation of this programmes in the form of physical and digital infrastructure. Although the regulatory environment is changing, supply chain efficiency will become increasingly important for leading firms as ground express sector faces challenges related to infrastructure, technology advancement, positioning, etc. However, it also presents a great opportunity to build on its present structure via the adoption of desirable measures like sustainability or coordination for infrastructure development.

To capitalise on this potential, government and private entities must work in tandem to ensure ease of access, cost efficiency, and use of innovative technology. This would enable the sector to make effective use of the uniquely diverse Indian market and leverage its potential to become a major player in the logistics market.

COMPETITION

Logistics as an area deals with the general process about how the resources are developed, stowed and transported to the required destination. The management in logistics involves various aspects such as recognising and knowing prospective suppliers and dealers to determine their effectiveness and accessibility since most of the industry falls under unorganised bracket. In todays economy, the most swiftly developing industry is logistics. It includes the trade of infrastructure, technology, and varied specifications of service providers. These factors decide whether the logistics industry can help customers reduce their logistics costs and deliver effective services. As the role of logistics in Indias economy is highly recognised due to its practice in various sectors, the competition is overwhelming. The Air and Surface express competitive landscape has also become volatile with new competitors entering the market and filling demand gaps thus cluttering the segments leading to a lot of disruption. New models in premium road transportation have emerged with the backing of investors making the surface express market environment dynamic and competitive. The local competition in Tier II and Tier III cities has also been aggressive. Despite the competition, Blue Dart continues to be the Provider of Choice, this is through investments in our capabilities and being alter to improvement areas. Our market differentiators in the domestic services are the dedicated 6 Boeing 757 freighters, considering we are observing strong growth in air freight. Blue Dart has also added 2 new Boeing 737 aircrafts to its existing fleet. To manage surplus load, the company also has in place processes through which it diverts the load to dedicated cargo freighters. The express freight market is approximately 40-42% of the total domestic cargo movement in India. At Blue Dart competition is always welcomed, as it creates a dynamic and value-driven healthy market. The winning proposition for the company is its Aircrafts, People, Technology & Digitisation that helps to set a benchmark for the industry as a whole.

ECONOMIC FACTORS

The logistics industry is constantly changing and has been affected by various macroeconomic elements in the years FY2022 23. These elements can both positively and negatively impact the sector like the macroeconomic factors which include geopolitical tensions, inflation, high-interest rates, employment, and changing freight rates.

The world has recently witnessed how geopolitical tensions can disrupt global supply chains and lead to increased costs and delays. Inflation can also affect companies by raising the cost of fuel and labour, which can lead to higher prices for consumers. High-interest rates make it more expensive for companies to borrow money and invest in new equipment. Employment levels can also impact logistics companies availability and labour costs. The cost of sea and air freight services has an effect on freight forwarders, impacting the costs and options of shipping routes and consequently forcing businesses to modify their prices according to the market.

Over the past two years, geopolitical tensions have been a significant factor in shaping the global sea freight market. The actions and policies of major powers like China, Russia, and the United States have had a ripple effect on other economies around the world. Inflation in 2022 hit a sharp increase, reaching higher than seen in several decades.

In coming year, the logistics industry is expected to face several challenges, including labour shortages, which will be felt throughout the year but offset by reduced volumes during the economic downturn. Automation and a rise in skilled migrants will help address the issue.

The Price hikes in fuel automatically indicate an effect on Aviation Turbine Fuel (ATF) and diesel, a big part of our business. We, therefore, have a internal hedging mechanism viz; Fuel Surcharge Mechanism and follow a Fuel Surcharge Calculation method in Domestic and Regional services that is computed based on the Brent index, as updated on the site www.livecharts.co.uk. Blue Dart also has the mechanism in place to adjust our prices annually with the General Price Increase (GPI). The adjustment takes into consideration inflation, currency dynamics, and other rising regulatory and mandatory costs, such as expenses related to compliance for the workforce with enhanced security regulations across a large number of locations that we service. These efforts are towards ensuring that customer always receives premium service quality that Blue Dart is synonymous with.

CYBER RISK

Digital interconnectivity increases efficacy but also makes forwarders, carriers, and hubs more vulnerable to be targeted by cybercriminals. The need for greater connectivity between technologies such as IT, OT and IoT, as well as different vendors, has propelled the industry to new heights of fleet efficiency, optimisation, and profit margins. One of the risks for freight forwarders is cybercriminals impersonating a legitimate freight forwarding company by copying its website. The aim is to steal freight forwarding fees or any cargo that falls into their possession. Such methods can also be referred to as "brandjacking" and are often used to directly tarnish a brands reputation. In todays day and age, it is impossible to defend against all cyberattacks, so companies usually have to strengthen their defences. They can begin leveraging the cybersecurity community for threat information and foster greater intelligence-sharing to build early warning systems.

Companies are advised to review and revise incident and crisis management plans and playbooks. They can also run exercises to validate the organisations confidence in business recovery. To ensure the safety and security of its stakeholders, Blue Dart follows all the compliances to avoid cyber risk from internal and external threats. The company sends out cautionary notices time and again for both BTB and BTC customers through all the mediums of communication.

INTERNAL CONTROLS AND ITS ADEQUACY

The business environments increasing complexity and global nature provide many opportunities and potential risks. Internal controls are intended to prevent errors and irregularities, identify problems and ensure that corrective action is taken. They play a critical role in the health of a company.

Blue Dart remains committed to ensuring an effective internal control environment that assures the efficiency of operations and the security of its assets. Blue Dart has a sound internal control system to ensure that all assets are protected against loss from any unauthorised use. All transactions are recorded and reported correctly as per norms. The companys internal control system is further supplemented by internal audits carried out by the internal audit team and supported by the co-sourced audit firm, Grant

Thornton Bharat LLP. Well-established and robust internal audit processes, both at the business and corporate levels, continuously monitor the adequacy and effectiveness of the internal control environment across the company and the status of compliance with operating systems, internal policies and regulatory requirements. Blue Dart has always maintained adequate and effective internal financial controls based on internal control over financial reporting criteria established by the company. This takes into account the essential components of internal control stated in the Guidance Note on ‘Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include; the maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the companys policies, safeguarding its assets, prevention & detection of frauds and errors, accuracy & comprehensiveness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

The Audit Committee of the Board works closely with both the Internal Auditors and Statutory Auditors ensuring that all their queries are addressed. The company also conducts Risk Assessment Workshops annually to define and identify what the companys most significant risks are and how those risks can be mitigated. The members of the Leadership team actively participate and deliberate in the risk workshops.

SUSTAINABILITY

Since its inception, Blue Dart has focused on positive growth and development in the social, environmental, and economic aspects of peoples lives, building on a legacy of over three decades of conscientious corporate citizenship. The company believes not only in creating value for its shareholders but also be a responsible corporate citizen to ensure the well-being of our employees, the environment and society where we operate and draw our resources. Our Board of Directors, Management, and all of our employees believe in being a responsible corporate.

Sustainability has been an integral part of our parent company Deutsche Post DHLs (DPDHL) strategy, emphasising the brands commitment to being responsible corporate and working alongside communities across the globe. Logistics, due to the nature of the sector, plays a pivotal role in the global economy and therefore the industry can play a crucial role in the way business is done while having a significant impact on the environment. Owing to this, DPDHL Group has embarked on a journey to achieve Net Zero Emissions by 2050 and be the industry benchmark for responsible business practices.

As part of the DPDHL Group, we are committed to contributing to our Groups mission of reducing our carbon emissions to below 29 million tonnes by 2030 along with continued business growth. Blue Dart was able to reduce its carbon emissions by 42% from the baseline of 2007 and plan to become net zero by 2050.

Blue Dart, in collaboration with DPDHL Group, provides Indias first end-to-end GoGreen Carbon Neutral Service (CNS) in both international and domestic markets. During the fiscal year under review, Blue Dart maintained its specialised Carbon Neutral Service, which provided customers with an environmentally responsible shipping option to offset the carbon emissions produced by the transportation of their shipments.

Additionally, Blue Dart launched the Blue Greens programme, under the GoGreen pillar of the group, which focuses on green initiatives for the company. We utilise our expertise to make our logistics greener and more sustainable while continuing to find ways to eradicate waste and retain more value in our products. Our CO2 efficiency initiatives and environmentally friendly product line allow us to uphold our environmental responsibility while strengthening our market position.

To strengthen our Sustainability programmes at Blue Dart, we integrated our initiatives under DPDHLs credo of "Connecting People, Improving Lives." Blue Dart corporate responsibility initiatives are driven across three pillars: GoGreen (environmental protection) as stated above , GoHelp (community development initiatives), and GoTeach (educational programmes). We collaborate closely with our project partners, stakeholders, beneficiaries, and local communities to promote social, economic, and environmental progress through effective human and natural capital management. Regional community initiatives support and complement our programmes, demonstrating the voluntary commitment, special abilities, and enthusiasm of employees from across the Blue Dart family.

Under GoTeach, Blue Dart aims to address the gap between formal education and employment, especially among the youths from underprivileged communities (mostly from the slums) who do not get the opportunity to build on their employability skills. The Blue edge initiative, which empowers lives by providing skills and trainings on basic and advanced IT skills, Communication, Personality Development and Life Skills to help them get employment. This programme also addresses the issue of unemployment among the youth to ensure that their capacity and capability is fully utilised. Under GoHelp, Blue Dart has partnered with various organisations to address the needs of the community. The company is supporting the operational expenses of a childcare home for cancer-affected children and their families, providing access to drinking water throughout the year for 2 villages with severe water crisis in the summers, and providing free eye check-up camps and cataract surgeries for the elderly.

Blue Dart operates in accordance with all applicable laws, ethical principles, environmental standards, and international guidelines. Through ongoing dialogue with our stakeholders, we ensure that their expectations regarding social and environmental issues are appropriately accounted for and that our business is systematically aligned with those interests.

HUMAN RESOURCES

India has been one of the fastest growing and emerging economies in the world. Despite the pandemic hit, India continues to grow at a sustained pace amidst global challenges. Blue Dart also is geared to achieve business success by leveraging its strengths and continuous improvement for excellence towards being the Employer of Choice. In this scenario, companys human resource function is also getting equipped to contribute to the business through various critical intervention in the areas like talent attraction, key talent engagement and development, employee health, well-being etc. Keeping the talent motivated, creating collaborative and winning culture, providing learning and developmental opportunities to the employees continues to remain a critical HR priority this year with increased rigour and focus. We align ourselves with the Deutsche Post DHL Groups Strategy 2025 - ‘Delivering Excellence in a Digital World. In line with this strategy, we are creating a pool of certified E-commerce champions through continuous training intervention of Certified eCommerce Specialist training guided by DHL. Blue Dart is deploying a lot of other standardized interventions guided by the global standards of DHL.

Being an Equal Opportunity Employer; Diversity & Inclusion remains at a focal point in terms of talent acquisition to increase women work force across the organization. The efforts are continued not just to hire diverse talent but also to be the safe and nurturing place for the it.

EMPLOYEE MORALE, MOTIVATION & ENGAGEMENT

To ensure that our employees are being heard, we continue to leverage the Deutsche Post DHL Groups Employee Opinion ("EOS") which was executed virtually. Employee Engagement Index was reported at 98%. The overall participation on the EOS was 95%. Employee engagement activities like festival celebrations, health-related talks, and virtual activities among others helped in increasing employee bonding and engagement. Apart from these, Blue Dart locally conducted DHLs global employee engagement initiatives with full enthusiasm. These were:

Common Values week- As One, Can do, Right 1st time, Passion

Appreciation week

Cyclothon and Cricket tournament The key talent retention in 2022-23 was 95.8%.

PERFORMANCE MANAGEMENT

The performance management system at Blue Dart leverages the Global HR System called Cross-Divisional, Central Human Resources Information System ("CHRIS") for critical HR activities. Performance management system is not just to evaluate performance but also identify developmental needs and support in their career growth.

This year too, the performance management process has been upgraded to include the Six DPDHL Leadership attributes. This is applicable for roles including managers and above. The six attributes are under the ‘Head, Heart and Guts leadership elements (being results- oriented, leveraging strengths, providing purpose, having & creating trust, focusing on clear priorities, being positive about challenges, uncertainty and change).

Our People-First philosophy guides us to ‘Drive a meritocratic and development-oriented people management culture within the organization. Individual and collective team efforts are objectively assessed and recognized and developed.

Leadership Evaluation Achievement, Development and Succession (LEADS): Employee Development Review (EDR) has transitioned to LEADS. This process ,as part of DPDHL group, helps to review performance, individuals potential, identify developmental needs objectively and build relevant, critical competencies. Blue Dart has started this approach in its talent management system as a standardized and scientific way to develop its employees. This help employees get visibility of their career journey. Succession planning as a result of LEADS will also help to ensure business continuity by mitigating the risk and impact of unavailability of resources within the organization. LEADS related conversations are going to be crucial managerial activity for the managers in near future at Blue Dart.

EMPLOYEE DEVELOPMENT, SAFETY & SUPPORT

Motivated, engaged and winning teams deliver superior results. Our various programmes are designed to cater the critical developmental needs and they were deployed for various target groups in the year under review. We have introduced the ‘Certified Programmes comprising the content on Common values of Passion, Can Do, Right 1st Time and As One and a clear focus on quality which are the foundational tools necessary for all Blue Darters to deliver customer- centricity par excellence. In 2022-23, the Company, on average invested in 5242 man-days to provide relevant training and development programs to various teams to help propel both, organisational as well as individual learning and growth.

• Certified eCommerce Specialist (CeS): CeS is a flagship program guided by DPDHL to be rolled out across Blue Dart in the coming times. It aims at developing the in depth understanding of DHL and Blue Darts eCommerce business coupled with certain critical managerial skills, our Values and Attributes to drive business. It encompasses individual contributors, managers and senior managers in its scope. All the employees will be covered through Train the Facilitators (TTF) way where eventually, there will be in-house trainers to deliver this highly standardized program uniformly across the organization.

• English Vinglish: This is a Business communication course for Supervisors. 2230 supervisors have been covered and passed the necessary assessments as a part of completion of training.

• Great Manager Institute (GMI) covered over 100 managers across organization.

• Employee safety: As a part of Employee safety & support, with a focus on Critical ESG investment in relevant learnings for teams, two special trainings were conducted:

OSHA: More than 6183 team members covered

POSH: Covered 20743 which includes on roll and outsourced employees.

• DHL mandatory trainings: As an ESG compliant organization aligning with the Deutsche Post DHL standards, the Senior Management Team completed the online system-based training on My Talent World. Topics included DPDHL Data Privacy Policy, Certified data protection, Anti-Corruption - Core Compliance Curriculum, Code of Conduct - Core Compliance Curriculum, Insider Trading Law / Insiderrecht, Competition Compliance - Core Compliance Curriculum for effective & impactful learnings.

• Employee Assistance Program (EAP): The programme aims at providing support and one to one counselling services through competent mental health professionals to our employees. Throughout the last year, webinars/ talks were arranged on various mental well-being related topics to break stigma, barriers around mental health and build awareness, more openness among the employees on overall health. One-to-one help is also available to employees in case of employees facing issues related to mental health, loss, grief or due to any other reasons.

Vaccination: An extensive vaccination drive was conducted for all Blue Dart team members.

- On roll employees: 100% of our teams have been vaccinated with the 1st dose of the vaccine against COVID-19. 99% employees have completed their 2nd dose as well.

- Outsourced employees: 98% outsourced employees have completed 1st Dose. 95% have completed 2nd dose.

Compliance training: Compliance strengthens a business license to operate and is the foundation of an entrepreneurial business practice that encourages compliance-driven behaviour. 1427 team members have undergone the Compliance training in 2022-23.

EMPLOYEE REWARD & RECOGNITION

In order to motivate employees and recognize their outstanding work, 1246 of our colleagues were awarded the on-the-spot Bravo award by individual managers for excellent work for the period FY 2022-23. In 2022, there were 50 Employee of the Year awardees along with 30 nominees from across the country were felicitated by the Managing Director, 487 Blue Darters joined the True Blue Club on completion of 5 years of service. 6 employees received Super Darter award.

ORGANIZATION-WIDE RECOGNITION

Blue Dart is a winner of Employee Safety Award 2022 and Best Workplaces for Women by The Economic Times twice in a row this year (2021, 2022). We are consistently featured among Top 100 Great Places to Work For in India. Blue Dart is also a Top Employer, 2022.

Overall, we are leveraging on our ‘People First philosophy which has helped us to secure 53rd rank in the Great Place to Work in the last year and a certified Great Place to Work for 13th year in row.

Upstairs

A GoTeach initiative by Blue Dart that promotes equal education opportunities and offers a scholarship program for our colleagues children, who receive financial assistance for their education and mentoring support.

Subsidized Tuition Education Plan (STEP)

This developmental policy enables team members to acquire higher qualification skills to enhance career prospects/ personal development/ improve effectiveness on the current assignment. This is a developmental initiative by Blue Dart.

Blue Darts Reimbursement of Accident Claims & Expenses (BRACE)

This is a wellness initiative that aims at providing timely relief including reimbursement of medical expenses.

Death Benevolent Fund (DBF)

This is an employee welfare initiative at Blue Dart where the immediate family of a deceased Blue Dart team member receives monetary help from colleagues, as payroll giving. Our front-line employees families receive close to 10 years compensation in the event of any unfortunate demise of a colleague, even managerial employees are covered under this scheme. This is done with major contributions coming through benevolence from all Blue Dart team members.

Diversity & Inclusion

As a progressive organization, we believe in Diversity and Inclusion to be equal opportunity employer to attract and retain talent. Our aim is to be safe place for diverse talents which is aligned to the Blue Dart and DHL vision. Blue Dart has 16% Women in Management. Our women hiring rate is 12.1% this year as against 9.1% in the last year. HR has also taken a specific goal to increase diversity hiring year on year.

Some of the major interventions that we have undertaken for enhancing diversity within Blue Dart are as follows:

• Safety as our building block: We conduct the Prevention of Sexual Harassment ("POSH"), OHS and road safety training for drivers them on how to maintain safety at personal and work level. We had also surveyed some of our women colleagues about safety at Blue Dart. We received positive feedback for this initiative. Blue Dart won Employee Safety Award 2022.

• Celebrating gender diversity: We have also published interviews of our women colleagues on the Blue Dart career page to share a glimpse of their experience working with Blue Dart and the value of D&I in the organization.