In the Friday session, the small-cap share rose 4.5 percent to an intraday high of Rs 138.85 from its previous close after the company announced an advanced logistic hub launch in Bengaluru.
Gati Limited opens a 3.5 lakhs square foot mega surface transhipment center and distribution warehouse in Mayasandra, Bengaluru.
According to the Gati limited filing, Mayasandra STCDW has a 1.5 lakh square feet Grade A warehouse. With 70 truck bays and a monthly throughput capacity of approximately 40,000 tonnes, it is capable of managing more than 500 vehicles per day. To serve a variety of industries such as automotive, apparel, heavy engineering, retail, and so on.
Gati’s plan to build 21 modern, automated, and environmentally friendly STCDWs includes the launch of the Mayasandra STCDW. STCDWs have been established by Gati in Farukhnagar (Gurugram), Nagpur, Guwahati, and, most recently, Bhiwandi (Mumbai).
Mr. Pirojshaw (Phil) Sarkari, MD and CEO, of Gati Express and Supply Chain stated “The tech-enabled STCDW will pave the way for greater customer centricity at Bengaluru, the Silicon Valley of India and a key consumption center of the country. With advanced infrastructure, ramped-up cargo processing capacity, and environmentally sustainable initiatives, the STCDW will strengthen our position in the express logistics space,”
The company has reported its net revenue rose 1.46 percent year on year from Rs 435.1 crores in Q2FY23 to Rs 435.15 crores in Q2FY24. In addition, net profit fell by 149 percent year on year, from Rs 7.65 crores in Q2FY23 to a net loss of Rs 3.79 crores in Q2FY24.
The company’s promoters hold a 52.97 percent stake in the company, with 0.75 percent owned by foreign institutional investors, 44.74 percent owned by the general public, and 1.54 percent owned by domestic institutional investors.
Gati Limited is a small-cap company with a market capitalization of Rs 1,780 crores. The share price of Gati Ltd has increased by 17 percent in the last six months.
Allcargo Gati is a leading Express Distribution company in India. Allcargo Gati’s unparalleled reach creates the unique advantage of covering every part of India, with a strong presence across Asia and a nationwide network that covers 99 percent of the country’s districts.
Written by Sriram KV
