Speech test

Topic Successful transition of high-risk thermal coal Indian retail business to a sustainable distributor-led model on course to deliver 1.5 mn MT per annum, with meaningful share of wallet of customers and improved risk profile of trades. Who we were? In 2019, • Working on SnS model in West Coast India • Selling cargoes directly to retailers / small players Pain Points with SnS model: • Unfair play in the market with quality tempering • Quantity Loss, • Forex Loss, and • Market Fluctuation With so many challenges losses adding to my bucket, we I had to relook to make the space more worthwhile for the business. and the make choice of improving the model of 2 choices: 1. Wave Good Bye 2. Change the business model 1st option was also not easy. Making resume, appearing for interviews, negotiating, documentations… too cumbersome process. So I choose 2nd option, now I feel I made the right choice as I got an opportunity to share my experience with you all. So, we started moving towards the distributors changed the business model: • Picked a distributor retailer and tried to convert them into full vessel • On SnS and Cash & Carry model • Passed on the ground loss to the retailer With the shift of partners we also started to address the pain points and shifted the load to the distributor channels with 1. Zero Ground loss to the account of Tata International. Any excess or shortage was moved to distributor. 2. Forex Loss. We started trading basis CIF USD price with forex to be either covered as per buyer choice or Exchange rate for the day on remittance to be applicable. 3. Market fluctuations. Cargo was sold on back to back as per Supplier terms with margin been covered. (1st factor which triggered my thought / 1st pain point got addressed/ which boosted my confidence) 2nd pain point was forex loss. In SnS business, forex impact is huge. So, I refined the model and passed on the dollar impact on buyers by selling @ shipment load. Our forex loss was covered / minimized to a large extent.

3rd pain point was market fluctuation. Instead of holding the cargoes, I started buying and selling the cargo at one go. Brainstorming with internal team members. Action Plan included: • Started developing distributors / channel partners. • Shifted the load of laytime on the distributors (played the strategy of Store 99 / Rs. 99 price factor) • Started with part shipment sold on sharing basis with load between 2 distributors and gradually moving to full shipment load to make it cost effective for them Realization / Observation: • Distributor had potential of doing full shipment Outcome / Operating Plan / Change in operating model: • Increased no. of shipments • Increase in volume Challenge: Margin @retailer level is high and @distributor level its low. We all know Volume is directly proportional to revenue. Objective: Increasing volume, increased revenue. Course of Action: • Building relationship, comfort, share of wallet – Increased • Long term tie-ups (annual contracts) by committing additional facilities like LC lines • Increased revenue generation • Guaranteed minimum tonnage business Results / Financials: • Around Aug 2021, we made long term tie-ups / MOU arrangements with couple of 2 distributors • By end of 2021, signed annual term position contracts • By beginning of 2022, we secured volumes, locked profits. • We have been able to provide more realistic business forecast in true sense. • More visibility in terms of revenue, turnover & profit. • Entry into segments of products of coal where we were not present earlier. • Onboarding of new Supplier/sources into our portfolios. • Increase in the trade flow of Indonesian coal. • Increasing presence in west coast markets like Kandla, navalakhi, sanegaon, dharamtar, Magdalla, and Tuticorin. • Future Strategical Approach: • Onboarding more distributors • Strategically finding distributors based on geography, product, market, etc. • Strategic purchase of coal from Indonesia for term positions.

Strategical Approach: • Capitalizing by converting supramax or panamax into cape vessel • Clubbing distributors together for bigger vessel and better advantage among their competition. • Clubbing distributor channel partners and end user demand in cape vessel and catering to these end users which at the moment we are not able to crack. • Using these distributor channels into other products like iron ore as well where they have their presence. Success Mantra: We are continuously working on the improvement on the distributor channel and trying to keep the stickiness for the distributors as well as develop new such channel partners. If distributors will become strong in their market, they will stick to us and we will grow. We are helping them to move ahead of the competitor’s curve by providing facilities like LC lines, option of converting into cape vessels by clubbing 2 different distributors into a same vessel instead of providing the tonnage in Supramax vessels.