Chairman's Message

Dear Shareholders,

Though 2017-18 was a defining year, as we crossed the ₹ 1,000 Cr revenue milestone, there were many learnings along the way.

We re-affirmed our vision to become the leading multi-channel retailer in the US e-commerce industry. With the continued shift from offline to online retail, we were re-assured of the size of the opportunity and the demand for our services.

During the year, we clearly saw our platform performing on the customer front. We were able to garner sales by maintaining the high ratings and growth in reviews, which validated our competitive edge. While work on this front is by no means complete, it is now more structured and improvements will keep happening over time.

With this long-term goal of solidifying our vendor base, we remain focussed on growth. However, we realise that to grow on a sustainable basis in the long-term, we need to maintain operational discipline by increasing our operating efficiencies and improving our working capital cycle.

Working capital cycle is predominantly a function of how efficiently we are able to turn our inventory. The higher the turns, the lesser the requirement of capital. With the use of predictive analytics tool, we will continue to work on it further, the output of which will be stocking 'Just In Time' inventory. We will save not only storage costs, but also capital. We intend to deploy a fair bit of resources towards this.

We will continue to leverage our strong technology backbone, our increasing operational efficiencies and the aggregation benefits arriving from scale to provide most optimal unit economics to our vendors, thus becoming invaluable to them. This, we believe will ensure long-term sustainability of our vendor base, leading to increase in market share and creating more value for our shareholders.

At IntraSoft, we are not following a set trail, but creating a new highway. We are aware that there will be short-term challenges, but we are clear about the direction and the destination. Over the years, we have overcome challenges that have given us invaluable learnings. We have created the right building blocks in the form of mindset and model, intelligence and insights as well as technology and talent. As we go forward in this exciting but unchartered journey, we are cautious but confident, optimistic but vigilant of the challenges ahead. While there could be short-term aberrations, our long-term focus and goal remains clear and firm.

Our long-term strategy is to scale up - expanding our market-share by creating an unbeatable experience and value proposition for our vendors.

We shall continue with resolute determination and focus on :

  • Giving our customers the best retail experience online;
  • Invest in our custom-built technology and operational platform to deliver best experience to customers and vendors;
  • Data-driven decision making;
  • Drive stronger value proposition by synergising seamless vendor-experience with execution efficiency;

My heartfelt gratitude to all our stakeholders for their steadfast support and confidence in the management of the Company. I assure you, we will continue our journey with consistent steps, keeping our credibility paramount.

Sincerely,

Arvind Kajaria
Managing Director
28 May 2018

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