Synopsis:
The Company has decided to enter a new line of business in the industry apart from its existing business of logistics, to expand its portfolio and more.
The shares of this microcap firm engaged in offering end-to-end transportation across boundaries jumped upto 3 percent in the day’s trade upon diversifying its line of business, check it out.
The members of Globe international carriers ltd recently in their AGM approved adoption of a new line of business in addition to the existing logistics and transportation business.
Globe International Carriers Ltd, with a market cap of Rs 453 crore, is a small-cap stock that made a day’s high of Rs 167 per share on wednesday compared to the previous day’s closing of Rs 161.15 , giving around 3% upside move.
What’s the new line of business?
Globe International Carriers Ltd, at its Annual General Meeting held on September 23rd, has approved the adoption of a new business that will be involved in activities relating to the generation and distribution of renewable energy, particularly solar power.
It also includes establishing and operating solar power plants, solar parks, and related infrastructure. Globe International Carriers Ltd is not new to such business as it already has a wholly owned subsidiary, which is already engaged in the solar power business and is expected to bring operational and financial synergies within the Group.
Financials and others
The revenue from operations stands at Rs 30.73 crore in Q1 FY25 to Rs 35.4 Crore in Q1 FY26, showcasing a YoY growth rate of 15.2%. Along with the sales, the profits also grew, increasing from Rs 0.89 crore in FY25 to Rs 1.45 crore in FY26.
With the promoter increasing his stake by 4.5% last quarter and a Stock price CAGR of 5 years been 79% , Globe international carriers ltd seems to have a promising future as they deal with industries like manufacturing retail, E- commerce, Pharmaceuticals, automotive , energy and infrastructure and their addition to industries like energy creates more financial synergies which might add on to their profitability later in the future.
Written by Leon Mendonca
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