Small cap logistics company received an order worth 34 million dollars from a Japanese company to build cellular container vessels.
Transport Corporation of India Ltd(TCI), a small cap company with a market capitalization of Rs. 6,229.6 cr opened its today’s trading session today on a positive note. The stock opened flat at Rs. 801 level and went to hit intraday high at Rs. 848 on NSE making a gain around 2.2 percent and closed the day at a lower level of Rs. 778.
The positive momentum was observed after the company received an order from a Japanese company, viz, Nakanishi Shipping co. Ltd, during the trading hours.
In the filing with the exchange, the company mentioned that it has executed a definite agreement for building two cellular container vessels of approx 7300 MT DWT for a contract price of approx USD 34 million.
The vessels shall be delivered by the Company, in accordance with the Specifications and with all Classification and Statutory Certificates and acceptance with the provisions of the Contract on or before 30th June 2026, unless otherwise mutually agreed.
Digging into the financials of the company,the company has recorded a revenue of Rs. 949.8 cr and a net profit of Rs. 82.3 cr during Q1 FY 24. Coming into the important financial ratios of the company,the Return on equity was 20.59 percent and Return on Capital Employed was 22.96 percent during FY 22-23.
According to the latest shareholding pattern, promoters of the company have 68.94 percent of share, Public have 15.61 percent of holding, DIIs have taken 12.87 percent and remaining 2.58 percent is with FIIs.
Headquartered in Haryana, TCI is an Indian Logistics supply management company that aims to be a customer oriented, multi-technology, multi-specialist transport system in the Indian and International markets, with a proven commitment to excellence in every facet of activity and pursuit of value based policies to satisfy aspirations of society, customers, vendors, employees, shareholders and the transport industry.
Written by Vaibhav Patil
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