Blue Dart Express conducted its Seventeenth Annual General Meeting in Mumbai on 22^nd April 2007. Sharad Upasani, Chairman of the company, addressed the meet.

• The net revenue of the company for the year ended December 2007 stood at Rs 808.7 crore, up 21% on Y-o-Y basis. The PAT of the company for the year stood at Rs 69.9 crore, recording a 39% increase on Y-o-Y basis.

• The chairman pointed out that the emergence of India as a 'global hub' for manufacturing activities in sectors such as consumer durables, electronics, automobiles and their components and the retail boom have fuelled the demand for logistics in the country. These sectors are major consumers of supply chain solutions and outsourced logistics services and, thus will continue to drive growth in the logistics sector.

• During the year, the company augmented its fleet with a third Boeing 757-200 and the existing fleet now is three Boeing 757-200 and four Boeing 737-200, which have the unique capability to offer an unrivalled payload of 300 tonne each night to 60 route connections across an expansive and diverse Indian geography.

• To capitalize on the improving road infrastructure in the country, Blue Dart re-launched its ground express product, Dart Surface line, which is another step towards strengthening its capability of offering end-to-end express distribution services. The launch has enabled the company to expand its reach to over 17,600 locations.

• The company is the market leader with 41.7% market share in the domestic air express segment, which grew from 40% at the beginning of 2007.

• During the year, Blue Dart added 43 new facilities and Blue Dart's total across the country now stands at 257 facilities with a fleet of over 4,800 vehicles, 40 domestic warehouses and 10 express hubs. Blue Dart also augmented its market share from 5.0% to 5.8% in the ground express space and plans to achieve market leadership in the next 5 years.

• The company plans to enhance capacities within the network by inducting additional dedicated air and ground carriage vehicles over a period of time. The company also plans to expand into the ground transportation segment to seize the opportunities provided by the Golden Quadrilateral Project, North-South and East-West Corridor, and improving infrastructural landscape.

• The company has incurred capex of Rs 48.7 crore in year 2007 and plans capex of about Rs 300 crore in the year 2008 and the management estimates a substantial capex over next 5 years. The company plans to fund the capex from internal accruals.

• The company is also exploring the opportunities for cold chain products related to perishable things.