The Indian logistics sector has traditionally been driven by the objective of reducing transportation costs that were (and often continue to be) inordinately high due to regional concentration of manufacturing and geographically diversified distribution activities as well as inefficiencies in infrastructure and accompanying technology. Today, the traditional objective of cost reduction has given way to modern objectives of quality of transfer and timeliness of delivery ultimately translating into customer satisfaction. Gone are the days when logistics was considered as a set of non value adding activities in the value chain. Across the firms, the logistics focus is now moving towards reducing cycle times in order to add value to their customers.
Since the time of its inception, Credence has aspired to evolve as a logistics solution provider meeting the traditional objective of cost reduction as well as modern day objective of quality and timely delivery by offering cost effective and time sensitive integrated logistics services. We have a long heritage of experience of 24 years in the bulk transportation segment with specialization in steel sector. With a portfolio of fleet comprising of Tata/Mahindra, Man, Trailers and Oxygen Tankers along with Mini Bulk Carriers (Barges), Catamaran; Credence offer single window solutions comprising multi-modal transport services to its esteemed customers by road, rail and coastal transport.
Despite recessionary pressures in this fiscal year 2015-16, Credence has retained constancy in income from operations (Rs. 75 crores against Rs. 58 crores last year) and gross profit and gross profit margin (14% against 11% last year).
Having consolidated our position across surface transportation, we now intend to sharpen our focus on coastal transportation by entering into ship chartering and port based logistics. Besides, we have well thought plans to enter into 3 PL / 4 PL and warehousing businesses. Transportation of Over Dimensional Cargo will continue to be at the heart of our businesses. While steel sector will continue to be the core of our operations, we plan to strengthen our presence across industries such as Auto Components, Chemical, Engineering & Construction, FMCG, Retail, Oil & Gas, Mining and Textiles amongst others.
At Credence, we recognize that our long standing status as a diversified, premiere logistics solution provider is dependent upon our ability to provide only the highest level of service to our customers, maintain a necessary profit margin, and to recognize opportunities and react to changing market conditions well ahead of our competition. That’s why believe in strengthening our existing competencies and building on new ones. That’s why we believe in “Taking your business places”.