During Thursday’s trading session, the shares of India’s one of the leading integrated supply chain and logistics solutions providers jumped nearly 1.1 percent to Rs. 431 on BSE, after securing a total of nearly Rs. 235 crores logistics contracts from P&G, Blue Star and others in November.
With a market cap of Rs. 1,189.4 crores, the shares of Ritco Logistics Limited opened in the green at Rs. 431, as against its previous closing price of Rs. 426.4.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Ritco Logistics announced monthly business updates for November month.
Ritco secured a ~Rs. 120 crore Road Transport Contract from Haldia Petrochemicals Ltd., India’s leading polymer company based in the East, strengthening its position in the petrochemical logistics sector.
The company won a Rs. 115 crore, 3-year logistics contract by Mahadhan AgriTech Limited, a group company of Deepak Chemicals and Fertilizers Ltd., reaffirming Ritco’s exceptional service standards.
Ritco partnered with Procter & Gamble (P&G), one of the world’s leading FMCG giants, for logistics operations in the South Zone, meeting global FMCG standards.
Further, Ritco continues to strengthen its position in the logistics domain by expanding its portfolio in coal, steel, polymer, and plastics, securing partnerships with top-tier customers.
The company announced its partnership with Blue Star Ltd., a leading name in the FMCD industry, and has initiated logistics operations for its North Zone movement.
Ritco also secured 3 major road transport contracts for 20,000 MT of coal in the South Zone from Sandur Manganese & Iron Ore Ltd. (SMIOL), India’s premier metal and mining enterprise, showcasing its heavy-load transport capabilities.
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Financials:
Ritco Logistics reported a significant growth in revenue from operations, experiencing a year-on-year rise of nearly 19 percent, from Rs. 235 crores in Q2 FY24 to Rs. 279 crores in Q2 FY25.
Similarly, its net profit increased during the same period from Rs. 8 crores to Rs. 10 crores, representing a rise of nearly 25 percent YoY.
Stock Performance:
The stock has delivered positive returns of nearly 50 percent in one year, as well as around 59 percent returns in the last six months. So far in 2024, the shares of Ritco Logistics have given positive returns of about 57.7 percent.
About the company:
Incorporated in 2001, Ritco Logistics Limited is engaged in the business of transportation activities.
The company got listed with BSE Limited on the SME platform on 7th February 2019 and migrated to the main board of BSE and NSE on 12th April 2022.
Written by Shivani Singh
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