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Logistics Services Market – India

February 2015

2

SAMPLE

Executive Summary

Market Overview

Competition

Major Players

Player 1 Player 2 Player 3

Player 4 Player 5 Player 6

Drivers & Challenges

Drivers Challenges

Technology Adoption

• Logistics services, an amalgamation of Courier, Freight, Third Party Logistics and Fourth Party Logistics, has significant business earning potential in the domestic market

• Amongst the segments, courier market shows the maximum growth in terms of CAGR whereas freight forwarding has the largest market size value-wise

• Third Party and Reverse logistics are emerging markets having huge market potential and scope for expansion

Global Trade Boom

Rapid Economic Growth and FDI in Logistics

Growth in Retail Sector

Rise in e-Tailing

Increased Demand for Consumer Electronics and Durables

Expansion of Auto and Auto Components Sector

Poor Infrastructure Lack of Skilled Manpower Warehouse Space Deficit

Identification Technology – Barcode, RFID

Material Handling Technology - Automated

Guided Vehicle System (AGVS) , Information

directed System

Technology Adoption by Leading Players

Enterprise Application – ERP, eBizNET – SC suite, Vin eRetail Communication Technology - Global

Positioning System (GPS) Tracking

Software Solution Providing Companies

LOGISTICS SERVICES MARKET IN INDIA 2015.PPT

3

•Macroeconomic Indicators

•Introduction

•Evolution

•Market Overview

•Advantages of Services

•Segments and Features

•Distribution Channel

•Government Initiatives

•Role of Regulatory Bodies

•Drivers & Challenges

•Key Issues

•Technology Adoption

•Competitive Landscape

•Transactions

•Strategic Recommendations

•Appendix


4

Macroeconomic Indicators (1/3)

12

13

14

15

16

a4

Q3

c3 b3

Q2

a3

Q4

c4

b4

INR tr

c2

b2 a2

Q1

d1

c1 b1 a1

GDP at Factor Cost: Quarterly

Inflation Rate: Monthly

2013-14 2012-13 2011-12 2014-15

-2

-1

0

1

2

t

s

Oct 2013 - Nov 2013

q

Aug 2013 - Sep 2013 Jul 2013 - Aug 2013

r

Sep 2013 - Oct 2013

p

%

Nov 2013 - Dec 2013


5


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


6

SAMPLE

Logistics sector primarily deals in transportation and storage operations and is significantly aided by logistics services

TRANSPORTATION

Container Rail Transport

STORAGE

Road Transport

Express Logistics

Coastal Shipping

Air Cargo

Project Logistics

Courier Service

Freight Forwarding

3PL/ 4PL

LOGISTICs SERVICES

Reverse Logistics

Warehousing

Logistics Park

Inland Container Depot

Container Freight Station

Cold Chain

Port

LOGISTICS SECTOR

Logistics services also include import/export management, customs clearance, freight forwarding, customer service, rate negotiation, order processing, assembly/installation, distribution, order fulfillment, reverse logistics, consulting services that include distribution network

planning, site selection for facility location, fleet management, freight consolidation and logistics audit amongst others

Focus of the study


7


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


8

SAMPLE

Logistics market in India has witnessed an exponential growth rate over the past decade

Logistics Market Overview – India

• Logistics is defined as a business planning framework involving procurement, maintenance, distribution, and replacement of personnel and material

In 2014, the global annual logistics spend has been valued at about INR y tn

Globally, logistics industry represents a significant part of the economy, as it generally constitute between a-b% of the GDP of a country

The annual logistics cost in India, estimated to be around c% of GDP, is valued at INR x tn and it is growing at e-f% annually

Transportation, Logistics, Warehousing and Packaging Sector in India is dominated by the unorganized segment, while the organized segment accounts for less than d% of the logistic sector in India

• India is still on the evolving stages in the logistics industry with much of its focus being on enabling ‘physical distribution’ rather than ‘progressive integrated logistics management’

0

INR tn

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

2014

z

p

2012

y

o

2010

x

n

2007

w

m

World Rank (proportion to highest ranking nations)

LPI score

Logistics Performance Indicator Logistics Market Size and Growth


9

SAMPLE

India is poised to be the land of opportunity for logistics service providers all over the world

0

INR bn

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

Logistics Services – Market Size and Growth

2013 Market Segmentation – Sector wise

B1%

B2%

B3% B4%

Reverse Logistic Market

3PL Market

Freight Forwarding Market

Courier Market

Logistics Services Market – Overview

• Services in India are emerging as a prominent sector in terms of contribution to national and states’ incomes, trade flows, FDI inflows, and employment

• Logistics services forms an integral part of the overall functioning of the logistics sector

Inbound logistics concentrates on purchasing and arranging inbound movements of materials, parts, and finished inventory from suppliers to manufacturing or assembly plants, warehouses or retail stores

Outbound logistics involves movement of final product and related information flows from the end of the production line to the end user

Reverse logistics is the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal, involving remanufacturing or refurbishing

• An efficient logistics market would demand integration of services at all points and across all segments

• Growing at a rate of a-b% every year logistics services market in India is expected to grow more than INR x tn approx by 20--

• Major segments of the logistics services market include – Courier Market, Freight Forwarding Market, 3PL Market and Reverse Logistics Market

Within the segments, Courier market displays the maximum growth potential followed by 3PL market, growing at a CAGR of m% and n% respectively

Reverse logistics is still at a very nascent stage while Freight Forwarding, occupying the maximum share of the pie, in order to sustain would require substantial diversification of services


10

Growing business opportunities in India is driving the need for time bound service

0

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

INR bn

2014e

x2

2013

x1

Courier Market – Market Size and Growth

Courier Market Overview

• Text


SAMPLE

11

SAMPLE

Surface mode of transport rules over air mode for transportation of deliverables

Courier Vendors Categories – India Revenue Split of Courier Sector – 2013

Percent stated are approximate

Government Administered

India Post

Global Integrators

UPS, TNT and DHL Global

Integrators

Blue Dart, DTDC, First Flight Large Indian Companies

Other Small Courier Companies

Regional Players

60.0%

C2%

C1%

Surface

Air

B2%

B1%

Unorganized

Organized

Market Segmentation by Modes of Transport – 2013

• Text


12

Courier companies deal majorly in commercial goods and largest share of operation accrues from domestic market

• Text • Text

B1%

B2%

Commercial Goods Document

C1%

C2%

International Domestic

D2%

D1%

Intra city Intercity

Segmentation By Type of Consignment (Value Wise) Segmentation By Expanse of Operation (Value Wise)

2013 2013

Note: Percent stated are approximate


SAMPLE

13

The freight forwarding market exhibits moderate potential for growth but has tremendous diversification options

0

INR bn

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

Freight Forwarding Market – Market Size and Growth

Note: Market size does not include inland water transport Gross revenue has been estimated based on sea and air freight revenues, railway revenues and road transport cum value added services

Freight Forwarding Market Overview (1/2)

• Text


SAMPLE

14

The air and sea freight markets are the maximum revenue earners despite carrying the least percentage of total freight

Modal Share in Freight Transport (2013) Volume-wise Value-wise

• Text

B1%

B2%

B3%

Rail Road Water and Air

C1%

C3%

C2%

Road Transport, Allied & Value Added Services

Railway Freight Revenue Share

Sea and Air Freight Revenue Share

Freight Forwarding Market Overview (2/2)


SAMPLE

15

Third party logistics is fast gaining popularity in the Indian logistics market

• Text

Third Party Logistics – Market Overview (1/2)

Third Party Logistics Market – Market Size and Growth

0

INR bn

2018e

x6 Y%

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1


SAMPLE

16

SAMPLE 3PL Market Insights (1/2)

• Text

Share of 3PL Service Providers – 2012 Customer’s Propensity – Outsource Activities – 2012

Companies with own integrated solutions

Organized 3PL Service Providers

Unorganized Logistics Activities

B2%

B3%

B1%

C5%

C3%

C4%

C7%

C6%

C2%

C1%

Production

Spare-parts Management

Invoicing

Order Processing

Inventory Management

Warehousing

Transportation


17

Reverse logistics market is on a gradual growth path with manufacturers realizing its significance

• Text

Reverse Logistics Market – Market Size and Growth

0

INR bn

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

Reverse Logistics – Market Overview (1/2)


SAMPLE

18


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


19

SAMPLE

`

Ensuring Competitiveness

Infrastructure Development

Laws

India Post Office Amendment Bill

Foreign Direct Investment Role of Government

Government Initiatives: Courier


20

SAMPLE Upto 50 gms 51 gms – 200 gms 201 gms – 500 gms Additional 500 gms or part thereof

Local (within Municipal Limits)

Upto 200 kms

201 kms – 1000 kms

1001 kms – 2000 kms

Above 2000 kms

The India Post has been providing service at a …

Distance Tariff of Express parcel

Upto 500 gms For Every

Additional 500 gms - 5 kg

For every kg beyond

10 kg

Local

Within State

Neighboring State

Other State

Between Metro and State Capital

National Capital Region –Delhi/Ghaziabad/Noida/Greater Noida/ Fardiabad

Distance

Weight

Weight Distance


21

SAMPLE

`

FDI Regime – Sectors Pertaining to the Transport and Logistics Industry

Development of the Dedicated Freight Corridor

Government Road Building Programs

Shipbuilding Subsidy and Investments

Shift to GST Tax Regime

Role of Government

Government Initiatives : Transport and Logistics

Infrastructure Initiatives – Union Budget 2014


22

SAMPLE FDI in Transport and Infrastructure

FDI Regime – Sectors Pertaining to the Transport and Logistics Industry (2/2)

0

Y4% Y3% Y2%

Y1%

FY13

x5

FY12

x4

FY11

x3

FY10

x2

FY09

x1

INR mn

0

Jan - Sep, 2013

Air Freight Shipbuilding

Air Transport

Railway Related Components

Construction of Roads and Highways Sea Transport

FDI Equity Inflows over the Years

FDI in Transport and Infrastructure, INR mn


23

…provide smooth freight forwarding options to the remotest of locations as per customer demands

Government Road Building Programs (2/2)

• Text

0

Y%

FY14

x6

FY13

x5

FY12

x4

FY11

x3

FY10

x2

FY09

x1

CRF Disbursements (INR bn)

B4%

B3%

B1%

B2% B5%

Rural Roads

Railways

National Highways (incl. Expressways)

Inter-State Connectivity and Commercial Routes

Grants for State roads

100% =INR 194.24 bn

CRF Allocations for Road Transport in India CRF Allocation Break-Down (2012-13)


SAMPLE

24 LOGISTICS SERVICES MARKET IN INDIA 2015.PPT


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix

25

SAMPLE

Globalization has led to increase in demand for fast and secure transport of documents…

Impact Global Trade Boom (1/6)

• Text

India’s Total Export

0

INR tn

Y%

2012-13

x4

2011-12

x3

2010-11

x2

2009-10

x1

2013-14

x5

Government of India plans to double India’s export of goods and services by 2014-15

INR tn B%

2012-13

a4

2011-12

a3

2010-11

a2

2009-10

a1

a5

2013-14

India’s import is also expected to grow further, particularly of oil and capital goods

India’s Total Import


26

SAMPLE

Indian gems and jewelry industry is also having a significant impact on the courier market in India

Global Trade Boom (5/6)

As According to EXIM Customs Manual • Import of gems and jewelry including samples thereof by Export Oriented Units or units in Export Processing Zones is allowed through

courier • Likewise, export of cut and polished diamond, gems and jewelry under any scheme of EXIM Policy from Export Oriented Units, units in

Export Processing Zones or units in the Domestic Tariff Area is allowed through courier subject to the condition that the value of each export consignment under such export does not exceed INR a mn

Export of Gems and Jewellery Encouraging Courier Business

• Text

Export of Gems and Jewelry

Note: HS Code 71 Used for Estimation of Export Figure Exchange Rate as per 2011= $1= INR 46.74

0

XIIth Plan Period 2012-13 to 2016-17e

Y% x2

XIth Plan Period 2007-08 to 2010-11

x1

INR tn


27

3PL providers need to customize their services and charge competitive rates to benefit from retail boom in India

• Text

Growth in Retail Sector (1/5)

Retail Market – Market Size and Growth

0

2018e

x2

INR tn

2014e

Y%

x4

2015e 2016e

x3

x6

2017e

x5

2013

x1

Impact


SAMPLE

28

SAMPLE

Forward and Reverse Supply Chain in Retail Sector

Text

Text

Text

Text

Text

Text

Forw

ard

Lo

gist

ics

Flo

w in

Ret

ail

Re

vers

e L

ogi

stic

s Fl

ow

in R

etai

l

Text

Text Text

Text

Text

Text

ASN (Advanced Shipping Notice) – Detailed shipment information transmitted to customer or consignee in advance of delivery, designating the contents (individual products and quantities of each) and nature of the shipment. May also include carrier and shipment specifics including time of shipment and expected time of arrival Milk Run - Delivery method for mixed loads from different suppliers wherein one vehicle visits each supplier on a daily basis and picks up deliveries for that customer

ASN

ASN

Key

Product Flow

Information Flow

Growth in Retail Sector (5/5)


29

e-Tailing has revamped shopping experience by transforming it from a weekend to anytime activity…

Growth in e-Tailing (1/2) Impact

• Text

e-Commerce Operational Expense 2011 Market Reach % - as on 2012 e-Tailing Market – Growth in India

0

Y%

2018e

x6

INR bn

2015e

x3

2017e

x5

2016e

x4

2014e

x2

2013

x1

Flipkart

eBay

Jabong

Snapdeal

Myntra

Junglee

B2%

B1%

Logistics Others

Note: ‘Market Reach’ refers to the estimated percentage of global Internet users who visited the respective websites during the beginning of the year 2012


SAMPLE

30

SAMPLE

Impact

Growing dependence on 3PL services from automobiles and auto components sector to facilitate market growth

Growth in Passenger Car Exported from India

0.0

0.2

0.4

0.6

mn units

Y%

2013

x2

2009

x1

Growth in Auto and Auto Components Sector (1/3)

• Text

0

Y%

2013-14

x2

2012-13

x1 B4%

B3% B2%

B1%

Commercial Vehicles

Three Wheelers

Two Wheelers

Passenger Vehivles

Growth in Automobile Market by production (000’ units)


31

Reverse logistics aids automobile sector in dealing with damaged and defective automobiles

Growth in Auto and Auto Components Sector (3/3)

• Text

Auto Ancillary Market – Market Size and Growth Growth in Revenue – Auto Component Sector

0

2012-13

x4

2011-12

x3

2010-11

x2

2009-10

x1

INR bn

Y%

0

INR bn Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

Note: Auto components includes Engine Parts, Drive Transmission and Steering Parts, Body and Chassis, Suspension and Braking Parts Equipments, Electrical Parts, Others


SAMPLE

32

Indian pharmaceutical sector is growing at a phenomenal rate due to growing popularity of generics segment

Impact Growth in Pharmaceutical Sector (1/4)

0

INR bn

Y%

2018e

x6

2017e

x5

2016e

x4

2015e

x3

2014e

x2

2013

x1

Market Size and Growth Market Segmentation

%

2018e 2017e 2016e 2015e 2014e 2013

Unorganized Organized

• Text


SAMPLE

33

Logistics service depends on a strong, smooth and well integrated transport infrastructure that is lacking in India

Impact

• Text

Poor Infrastructure (1/6)

Sector Mega

Projects Stalled

projects Estimated (INR mn)

New Projections (INR mn)

Cost Overruns (%)

Railways

Roads and Highways

Shipping and Ports

Civil Aviation

Overall


SAMPLE

34

SAMPLE

Indian transport sector is facing substantial drawback with respect to global standards

World Bank's International Logistics Performance Index (LPI) Global Ranking, 2014 (Port Sector Performance)

Timeliness Customs International shipments Infrastructure Tracking and tracing Logistics quality and competence

USA India China

Poor Infrastructure (3/6)

Road Infrastructure Drawbacks (2013)

B1% B2%

National Highways

Others

C1%

C2%

C3%

Four-lane

Two-lane

Single-lane


35

Lack in warehousing facilities is discouraging courier service providers in undertaking larger consignments

Warehouse Space Deficit Impact

• Text

Projected Growth In Warehousing Requirement

Indian is already struggling to meet warehousing demand and with gradual prospering of 3PL and reverse logistics, warehouse space demand will be a critical factor of success for logistics services

Y%

2019e

x2

2013

x1

million sq. ft.


SAMPLE

36


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


37

Issue #3: Increased internet accessibility has a direct negative impact on courier of confidential documents

• Text

Growing Internet Subscribers in India

Telecom Players Taking Initiatives for Raising e-Bills Popularity

0

2012 2013 2011

mn

2010 2009

Narrowband Total Broadband


SAMPLE

38

Unfavorable weather and safety issues also result in downfall of freight forwarding business Weather Conditions

• Text

Safety

• Text


0

x4 x2

FY12 FY09

x1 x3

FY11 FY10

No. of road accidents

SAMPLE

39


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


40

SAMPLE Major Players in Logistics Services in India (1/4)

Company Courier Freight Forwarding 3PL Reverse Logistics


41

SAMPLE Porter’s Five Forces Analysis

Competitive Rivalry • Text

Bargaining Power of Suppliers

• Text

Bargaining Power of Buyers

• Text

Threat of Substitutes • Text

Threat of New Entrants

• Text

Impact Medium

Impact High

Impact High

Impact Low to

Medium

Impact Low


42

SAMPLE Key Ratios of Top 3 Companies – Operational Basis (FY 2013) (1/3)

Competitive Benchmarking (2/5)

0

2

4

6

8

%

Player 3

b3

a3

Player 2

b2 a2

Player 1

b1 a1

Net Margin Operating Margin

• Player 3 recorded operating margin of -%, higher than that of Player 1 which recorded operating margin of -% and also that of Player 3 which recorded operating margin of -%

• Net margin for Player 1, Player 2 and Player 3 are -%, -% and -% respectively, wherein Player 3 has the highest net margin among these three companies


43

SAMPLE

Key People

Products and Services

Company Information Offices and Centres – India

Corporate Address

Tel No.

Fax No.

Website

Year of Incorporation

Ticker Symbol

Stock Exchange

Category Products/Services

Sectors (EPC)

Name Designation

Head Office

Public: Domestic Company – Player 1(1/5)


44

SAMPLE Financial Snapshot Key Ratios

Financial Summary

• The company earned a net profit of INR - mn in FY 2014, as compared to net profit of INR - mn in FY 2013

• The company reported total income of INR - mn in FY 2014, registering an increase of -% over FY 2013

• The company earned an operating margin of -% in FY 2014, a decrease of m percentage points over FY 2013

• The company reported debt to equity ratio of - in FY 2014, registering an increase of -% over FY 2013

Key Financial Performance Indicators

Indicators Value (08/27/2014)

Market Capitalization (INR mn)

Total Enterprise Value (INR mn)

EPS (INR)

PE Ratio (Absolute)

Improved Decline

Net Profit/Loss Total Income INR mn INR mn

2011

p4

r4

2012

p3

r3

2013

p2

r2

2014

p1

r1

Public: Domestic Company – Player 1 (2/5)

Particulars y-o-y change

(2014-13) 2014 2013 2012 2011

Profitability Ratios

Operating Margin

Net Margin

Profit Before Tax Margin

Return on Equity

Return on Capital Employed

Return on Working Capital

Return on Assets

Return on Fixed Assets

Cost Ratios Operating costs (% of Sales)

Administration costs (% of Sales)

Interest costs (% of Sales)

Liquidity Ratios Current Ratio

Cash Ratio

Leverage Ratios Debt to Equity Ratio

Debt to Capital Ratio

Interest Coverage Ratio

Efficiency Ratios Fixed Asset Turnover

Asset Turnover

Current Asset Turnover

Working Capital Turnover

Capital Employed Turnover

Note : This company has had a fiscal year change on Dec-31, 2011


45

SAMPLE Key Business Segments Key Geographic Segments

Business Highlights(1/2)

Description News

Overview • Text

8%

%

A4% B4%

C4%

2014

A3% B3%

C3%

B2% A2%

C2%

B1% A1%

C1%

2013 2012 2010

Others

Multimodal Transport Operations

Project & Engineering Solutions

Container Freight Stations


%

A4% C4% B4%

D4%

G4% F4%

A3% C3% B3%

E4%

D3% E3%

G3% F3%

2012

A2% C2% B2%

D2% E2% G2% F2%

2010

A1% C1%

B1% D1% E1%

F1%

2013 2014

America

Far East

India

Europe Australia & New Zealand

Africa

Mediterranean


46

SAMPLE Business Highlights(2/2)



Description News

Extensive Product Portfolio

• Text

Awards & Recognitions • Text

Acquisitions • Text

47

SAMPLE

• Text • Text

• Text

• Text

T O

W S

Public: Domestic Company – Player 1 SWOT Analysis (5/5)


48

SAMPLE Private: Foreign Company – Player 2 (1/5)

Key People

Products and Services

Company Information Offices and Centres – India

Category Products/Services

Sectors (EPC) Name Designation

Corporate Headquarter

Tel No.

Fax No.

Website

Year of Incorporation

Head Office


49

SAMPLE Ownership Structure

Name No. of Shares held

Total

Shareholders of the Company

100% B1%

Foreign Holdings

Private: Foreign Company – Player 2 (2/5)

Ownership structure corresponds to Date of AGM: 31/03/2013


50

SAMPLE Financial Snapshot Key Ratios

Particulars y-o-y change

(2013-12) 2013 2012 2011 2010

Profitability Ratios Operating Margin

Net Margin

Profit Before Tax Margin

Return on Equity

Return on Capital Employed

Return on Working Capital

Return on Assets

Return on Fixed Assets

Cost Ratios Operating costs (% of Sales)

Administration costs (% of Sales)

Interest costs (% of Sales)

Liquidity Ratios Current Ratio

Cash Ratio

Leverage Ratios Debt to Equity Ratio

Debt to Capital Ratio

Interest Coverage Ratio

Efficiency Ratios Fixed Asset Turnover

Asset Turnover

Current Asset Turnover

Working Capital Turnover

Capital Employed Turnover

Improved Decline

Financial Summary

• The company incurred a net profit of INR - mn in FY 2013, as

compared to net profit of of INR - mn in FY 2012

• The company reported total income of INR - mn in FY 2013,

registering an increase of -% over FY 2012

• The company earned an operating margin of -% in FY 2013, a

decrease of - percentage points over FY 2012

• The company reported debt to equity ratio of - in FY 2013, a

decrease of -% over FY 2012

Net Profit/Loss Total Income

0

INR mn INR mn

2013

r1

p4

2012

r2

p3

2011

r4

p2

2010

r3

p1



51

SAMPLE Business Highlights

Description News

Overview • Text

Awards and Recognitions • Text

Industries Served • Text

• Text



52

SAMPLE

• Text • Text

• Text • Text

T O

W S

Private: Foreign Company – Player 2 SWOT Analysis (5/5)


53


•Introduction

•Market Overview







•Key Issues



•Transactions


•Appendix


54

SAMPLE Strategic Recommendations – Summary

Courier Market Freight Forwarding 3PL Reverse Logistics

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text

Text


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