During Tuesday’s trading session, the shares of a Bombay Stock Exchange (BSE)-listed leading international logistics company and solutions provider surged nearly 4.6 percent to Rs. 61.88 on BSE, after Jindal Stainless renewed its agreement with the company for international steel shipping.
With a market cap of Rs. 613.6 crores, at 12:48 p.m., the shares of Tiger Logistics (India) Limited were trading in the red at Rs. 58.04, down by nearly 2 percent, as against its previous closing price of Rs. 59.17
What’s the news
According to the latest regulatory filings with the BSE, Tiger Logisti (India) Limited has announced the extension of its partnership with Jindal Stainless, a leading exporter of steel in India.
Jindal Stainless, recognized for its significant contribution to the glob steel industry, continues to trust Tiger Logistics for the dependable transportation of its steel products to international markets.
As part of this extended agreement, Tiger Logistics will manage the global logistics for a wide range of steel products, ensuring seamless shipments from India to more than 30 countries.
In FY24-25, Tiger Logistics successfully handled more than 3,000 containers for Jindal Stainless.
Previous News
28th November 2024: Tiger Logistics announced that three PSUs— BHEL, BEML, and Bank NotePaper Mill India Limited (BNPLIPL) — have reinforced their trust in the company by renewing their agreements and empanelling Tiger Logistics for their logistics needs.
These renewed partnerships highlight the PSUs’ continued confiden in the company’s ability to handle both sea and air cargo efficientl covering a range of export and import activities.
9th December 2024: The company’s Board approved fundraising of up to Rs. 400 crores through the issuance of equity shares, convertible instruments, or other permissible securities, in one or more tranches via Preferential Issue.
30th December 2024: The company announced its empanelment by Hindustan Petroleum Corporation Limited (HPCL).
The company will play a key role in supporting HPCL’s crucial freight and customs operations, ensuring seamless processes for both imports and exports.
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Financials
Tiger Logistics reported a significant growth in revenue from operation experiencing a year-on-year increase of nearly 199 percent, rising from Rs. 53.6 crores in Q2 FY24 to Rs. 160.2 crores in Q2 FY25.
Similarly, during the same period, the company’s net profit increased fr Rs. 3.22 crores to Rs. 7.54 crores, representing an impressive growth of around 134.2 percent YoY.
Stock Performance
The stock has delivered negative returns of nearly 31 percent in one year, while around 53 percent of positive returns in the last six months. Likewise, the shares of Tiger Logistics have given negative returns of about 11 percent in the last one month.
About the company
Founded in 2000, Tiger Logistics (India) Limited is a prominent global logistics company offering comprehensive solutions in freight forwarding (air & ocean), defence & project logistics, transportation, and customs clearance.
The company also launched its proprietary freight booking and management platform, “FreightJar” in 2023 to bring accessibility to competitive freight rates for SMEs/MSMEs and seamlessness to the freight booking and management journey.
Written by Shivani Singh
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