Other Strategic Developments
The past year witnessed a slew of strategic developments in all our verticals. Our total number of Vakrangee Kendras has increased to 35,000+ at the end of March 31st, 2017. Our assisted e-Commerce business model, in tieup with Amazon India, is running on track with customers gaining access to a range of 100 million products. Our Kendras have been made active at 135 retail outlets of Indian Oil Corporation Limited (IOCL) while 75+ are under “Go Live” stage in the states of Maharashtra, Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Orissa, Jharkhand, Chhattisgarh and Delhi NCR till March 31, 2017. With 20,000+ outlets of IOCL under our radar for setting up Kendras, the canvas is huge. Our association with IOCL will enable us expand our presence in urban India, besides enlarging our presence in rural India.
New Growth Drivers
We set another new milestone in our progress as we entered new territories, new states and geographies and identified new growth drivers. Encouraged by our first-hand pioneering successes, we are now entering a new era of self-development. We are moving beyond the 2020 horizon and expanding our canvas, exploring new opportunities for growth and value creation. Firstly, our objective is to significantly deepen our physical presence on a larger scale. Our primary aim is to ensure there is a Vakrangee Kendra branch within walking distance of each citizen, no matter where he or she lives. We also plan to launch “Vakrangee Kendra on Mobile”. This will literally bring all the benefits of a Vakrangee Kendra at the doorstep of every citizen. With an entrenched and deep logistics support for physical delivery and collection, these additional channels will become part of a more comprehensive ecosystem, making the Vakrangee Kendra network universally ubiquitous. Secondly, we plan to offer an integrated and unified solution for all kinds of payment mechanisms, including Aadhaar Pay. This will enable consumers to easily make payments across multiple platforms.
Thirdly, we plan to significantly broaden our canvas of products and services offered. These include the addition of lead generation for loan products, Railway Ticket Booking, GST Registration and Return Fillings and new B2B E-Commerce solutions for trade customers looking for a more convenient buying experience. Our strategy has been refined and our focus on performance and profitability is clear. Vakrangee Kendras aim to be the most trustworthy Physical as well as Online convenience-store across India. We promise to give every Indian their rightful access to a wide range of products and services, that are fairly priced and of high quality. We will keep expanding this network, until we are in close proximity to the last excluded person within the country.
We are well positioned to deliver on our commitment to stakeholders. We will grow and strengthen our core businesses, while exploring new revenue streams. Our strategy of adding new states, territories and states will continue. To better serve our customers and to grow returns for our shareholders, we understand that we must continue to invest in our people and capability. This past year has seen a continuation of our mission to make Vakrangee a great company to work for. This means building deep leadership talent pipelines and investing to build capacity across all levels of the organisation in an environment that fosters high performance and high engagement across the workforce.
Managing Director & CEO