Blue Dart Sales at Rs.1,489.60crores

-The Company posted Rs. 122.24crores profit after tax

Mumbai : January 31, 2012

Blue Dart Express Limited, South Asia's number one express air and integrated transportation, distribution and Logistics Company, today declared its annual financial results for the year ended December 31, 2011, at its Board Meeting held in Mumbai.

The Company posted Rs. 122.24 cr. profit after tax for the year ended December 31, 2011. Income from Operations for the year ended December 31, 2011 was Rs. 1,489.60cr.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "The 2011 results have been in sync with our outlined expectations for the year. Going forward, we are committed to remain the 'Express & Logistics Provider of Choice' for Indian industries. While continuing to be the `Trade Facilitators' in the country, we shall continue our focus on addressing specific needs of the customers delivering customized solutions."

He further added, "Blue Dart stands for Quality, Consistency, Reliability, Passion and Commitment. I thank every Blue Darter, associates, our customers and stakeholders for their support and being our brand ambassadors. Blue Dart has robust plans for India and we are delighted to serve in 'Blue Dart Country' with a business and human conscience to remain the customer's First Choice".

During the year 2011, Blue Dart handled over 98.85 million domestic shipments, 0.81 million international shipments and over 423,200 tonnes of documents and parcels across the nation and 220 countries worldwide.

About Blue Dart:

Blue Dart Express Ltd., South Asia's premier courier, and integrated express package Distribution Company, offers secure and reliable delivery of consignments to over 35, 902 locations in India. As part of the DHL Group (DHL Express, DHL Global Forwarding & DHL Supply Chain), Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions and customs clearance.

The Blue Dart team drives market leadership through its motivated people force, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by numerous awards and recognitions from customers for exhibiting reliability, superior brand experience and sustainability. Some of these include SUPERBRAND and 'Reader's Digest Most Trusted Brand Gold Award' 6 years in a row, one of 'India's Best Companies to Work For' by The Great Place to Workﾮ Institute twice successively, 'Organization that offers the best returns to consumers' - 6th Social & Corporate Governance Awards 2010, BSE Best CSR Practice Award and 22nd CFBP Jamnalal Bajaj Fair Business Practices Award - 2010 in the category of Service Enterprises (Medium) to name a few.

Blue Dart accepts its social responsibility by supporting climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach).

BLUE DART EXPRESS LIMITED

Audited Financial Results for the Year Ended December 31, 2011

Statement of Assets and Liabilities as per
clause 41 (V) (h) of the Listing Agreement
as at December 31,2011
(All figures are in Rs.Lacs)
Sr.No. Particulars BDEL Quarter Ended 31-12-2011 (Unaudited) BDEL Quarter Ended 30-09-2011 (Unaudited) BDEL Quarter Ended 31-12-2010 (Unaudited) BDEL Year Ended 31-12-2011 (Audited)(Unaudited) BDELYear Ended 31-12-2010 (Audited)(Unaudited) Consolidated Year Ended 31-12-2011(Audited) Consolidated Year Ended 31-12-2010 (Audited)     As at 31-12-2011 (Audited) As at 31-12-2010(Audited)
1.a. Net Sales / Income from Operations 39,349 38,884 31,888 148,960 114,741 149,227 114,989   Shareholders' Funds:    
b. Other Operating Income 121 10 15 311 85 311 85   (a) Capital 2,376 2,376
c. Total 39,470 38,894 31,903 149,271 114,826 149,538 115,074   (b)Reserves and Surplus 63,437 51,765
2. Expenditure                 Loan Funds - -
a. Freight, Handling and Servicing Costs (Net) 28,067 26,395 21,347 100,764 74,836 100,810 74,876   Deferred Tax Liability (Net) 1,825 1,817
b. Employee Costs 4,663 5,018 3,913 18,441 14,889 18,573 15,013   Total 67,638 55,958
c. Depreciation 520 563 523 2,160 1,922 2,178 1,940   Fixed Assets 23,942 20,982
d. Other Expenditure 3,635 3,075 2,678 12,132 9,599 12,169 9,628   Investments 7,225 9,598
e. Total 36,885 35,051 28,461 133,497 101,246 133,730 101,457   Loan to Associate 20,188 11,245
3. Profit From Operations before Other Income, Interest & Exceptional Items 2,585 3,843 3,442 15,774 13,580 15,808 13,617   Current Assets,Loans And Advances    
4. Other income 692 565 166 2,115 447 2,173 456   (a) Inventories 262 217
5. Profit before Interest & Exceptional Items 3,277 4,408 3,608 17,889 14,027 17,981 14,073   (b)Sundry Debtors 18,898 15,329
6. Interest         1   1   (c) Cash and Bank Balances 3,771 3,473
7. Profit after Interest but before Exceptional Items 3,277 4,408 3,608 17,889 14,026 17,981 14,072   (d) Other Current Assets - -
8. Exceptional items - - - - - - -   (e) Loans and Advances 9,430 8,398
9. Profit Before Tax 3,277 4,408 3,608 17,889 14,026 17,981 14,072   Less: Current Liabilities and Provisions    
10. Tax expense 1,039 1,433 1,209 5,665 4,589 5,703 4,607   (a) Liabilities 14,641 12,145.
11. Net Profit from Ordinary Activities after Tax 2,238 2,975 2,399 12,224 9,437 12,278 9,465   (b) Provisions 1,437 1,139
12. Extraordinary items (net of tax expense) - - - - - - -   Net Current Assets 16,283 14,133
13. Share of Associate's Profit           141 5   Total 67,638 55,958
14. Net Profit for the period 2,238 2,975 2,399 12,224 9,437 12,419 9,470  
15. Paid-up Equity Share Capital ( Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373 2,373
16. Reserves excluding Revaluation Reserve       63,437 51,765 63,997 52,129
17. Earnings Per Share(In Rupees)- Basic and Diluted 9.43 12.54 10.11 51.52 39.77 52.34 39.91
Public Shareholding:              
  -Number of Shares 4,500,047 4,500,047 4,500,047 4,500,047 4,500,047    
  -Percentage of Shareholding 18.97 18.97 18.97 18.97 18.97    
19. Promoters and promoter group shareholding              
a. Pledged/Encumbered              
  -Number of Shares - - - - -    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) - - - - -    
  -Percentage of Shares(as a % of the total capital of the company) - - - - -    
b. Non-Encumbered              
  -Number of Shares 19,227,887 19,227,887 19,227,887 19,227,887 19,227,887    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) 100 100 100 100 100    
  -Percentage of Shares(as a % of the total capital of the company) 81.03 81.03 81.03 81.03 81.03    

Notes :

  1. The Income from operations (inclusive of fuel surcharge) has recorded an increase of 29.82% for the year ended December 31, 2011 as compared to the corresponding year ended December 31,2010.
  2. The Board of Directors have recommended a dividend of 20% for the year ended December 31, 2011.
  3. The Company is primarily engaged in a single segment business of integrated air and ground transportation and distribution of time sensitive packages in India and is managed as one entity for its various service offerings and is governed by a similar set of risks and returns. The said treatment is in accordance with the guiding principles enunciated in the Accounting Standard on Segment Reporting (AS-17) as notified under Section 211(3C) of the Companies Act, 1956.
  4. The Consolidated Financial results represent those of Blue Dart Express Limited and its Wholly Owned Subsidiary Company, Concorde Air Logistics Limited. The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) as notified under section 211(3C) of the Companies Act, 1956. The 49% holding in Blue Dart Aviation Limited,its Associate Company has been consolidated in accordance with the Accounting Standard on Accounting for Investments in Associates in Consolidated Financial Statements (AS-23) as notified under section 211(3C) of the Companies Act, 1956.
  5. The Company did not have any investor complaint pending as on Decembr 31, 2011. Investor complaints received and disposed off during the quarter ended December 31,2011 is NIL.
  6. The results for the quarter ended December 31,2011 are the balancing figures between audited figures in respect of the full finanicial year 2011 and the published year to date figures upto the third quarter of the current financial year.
  7. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  8. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on January 31, 2012. There are no qualifications in the Auditors' Report issued for the financial year ended December 31, 2011.

By Order of the Board
For Blue Dart Express Limited

 

sd/-

Anil Khanna
(Managing Director)

 

Date : January 31,2012
Place : Mumbai

For further information contact :

marketing@bluedart.com
Date : January 31,2012

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