The share of this microcap company jumped 2% after announcing a new venture of mobile advertising on its trucks. In six months, the share has delivered more than 15 percent returns to its shareholders.
With a market capitalization of Rs. 363 crores, the shares of Shreeji Traslogistics Ltd opened on a positive note at Rs. 73 compared to its previous close at Rs. 69.28. The share hit a high at Rs. 73, gaining around 2 percent, and is currently trading at Rs. 69.33.
Such a positive movement was observed after the company announced that it has started a new venture of mobile advertising on its trucks offering businesses a dynamic platform to showcase their products and services to a wider audience.
In addition, the company also mentioned that this initiative aims to provide Companies with a cost-effective and high-impact way to reach their target audience, while also creating additional revenue streams for the Company.
Digging into financial statements, the company’s revenue increased by 20 percent from Rs. 166 crores in Q1 FY24 to Rs. 200 crores during Q2 FY24. Furthermore, the net profit increased by 19 percent from Rs. 9.17 crores to Rs. 10.99 crores during the same period.
The important financial ratios show that the return on equity (RoE) was at 29.19 percent in FY 22-23 and the return on capital employed (RoCE) was recorded as 22.59 percent during the same timeframe.
According to the latest shareholding pattern, Promoters have a 72.70 percent stake in the company, the Public or Retail investors have 26.66 percent, and the remaining 0.64 percent are with FIIs.
Headquartered in Navi Mumbai, Shreeji Translogistics Ltd was incorporated in the year 1984. The Company is engaged in freight management, logistic solutions, and warehousing services. It caters to a range of logistical requirements from Over Dimensional Cargo (ODC) movement to bonded trucking movements.
Written By Vaibhav Patil
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