AVG Logistics Ltd Share Price – NSE  /  BSE

Logistics, Small Cap

This special train, connects Korukkupet Goods Shed (Chennai) to New Guwahati Goods Shed (Guwahati), will complete 4 trips every month over the next 6 years, totalling 313 trips during the contract tenure.

The Carrying Capacity during the trip is expected to be 364 tonnes for the first six months. Later, it will be 484 tonnes per trip.

The Express Train Service will cover the distance of 2500 kilometres in 72 hours ensuring expeditious, seamless connectivity between the two locations.

Sanjay Gupta Managing Director & CEO, AVG Logistics, said: “We are excited about our new collaboration with Indian Railways.

Generating Rs 105 crore revenue from this contract enhances our financial standing and help us fuel our ambition to undertake more ambitious projects, thereby elevating our overall financial performance.”

AVG Logistics is a leading multimodal logistics solutions provider based in India. The company provides customized and technology-driven solutions across transportation, warehousing, distribution, and supply chain management. Furthermore, the Company also offers third-party logistics services (3PL), effectively complementing its wide range of logistics solutions.

The company’s consolidated net profit surged to Rs 4.80 crore in the quarter ended December 2023 as against Rs 1.35 crore during the previous quarter ended December 2022. Sales rose 17.20% to Rs 124.77 crore in Q3 FY24 over Q3 FY23.

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AVG Logistics is partially liquidating its investment from existing Joint venture NDR AVG Business Park which was a prime warehouse project in New Delhi.

NDR Warehousing (NDR) is the Joint Venture Partner of AVG Logistics through a Joint venture company namely NDR-AVG Business Park Private Limited formed in the year 2018.

In this JV, AVG holds 35% shareholding and NDR holds 65% shareholding.

In a significant development, AVG Logistics has divested approximately 69% of its investment at the consideration of Rs. 22 crore and cost of which was Rs. 6.78 crore and resultantly AVG has made a profit of Rs. 15.2 crore in Q4 FY24 from this transaction, further AVG will retain an original investment of Rs 3.06 crore through units in NDR InvIT Trust, currently valued at Rs  9.95 crore.

The proceeds from this transaction will be utilized towards (i) working capital requirements to drive further business growth, towards paying down debt resulting in decrease in interest expenses & improve profitability and general corporate purposes.

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Net profit of AVG Logistics rose 255.56% to Rs 4.80 crore in the quarter ended December 2023 as against Rs 1.35 crore during the previous quarter ended December 2022. Sales rose 17.20% to Rs 124.77 crore in the quarter ended December 2023 as against Rs 106.46 crore during the previous quarter ended December 2022.

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AVG Logistics will hold a meeting of the Board of Directors of the Company on 14 February 2024.

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