The share of this small-cap company gained up to 0.48 percent after the company announced the acquisition of 60% Equity Share Capital of Transco Logistix Worldwide Pvt Ltd.
With a market capitalization of Rs 1,832.91 crores, Lancer Container Lines Ltd. On Tuesday, the shares were trading at Rs 84.82, a decrease of 1.12 percent from the previous close price.
According to the company filing, Lancer Container Lines Ltd announced the acquisition of 7,50,000 Equity Shares at a price of Rs. 10/- per share Equity Share Capital of Transco Logistix Worldwide Pvt Ltd. The purpose of this investment is to add a vertical business line for the company in the field of the Logistics Industry, and the acquisition shall take approximately two months.
Looking into the company’s finances, Lancer Container Lines Ltd’s revenue decreased by 26.8 percent from Rs 227.32 Crore in Q2FY23 to 166.33 Crore in Q2FY24. During the same period, net profits decreased by 10 percent from Rs 15.86 crore to Rs 14.21 crore.
The stock has delivered a return of 84.34 percent in six months and 11.91 percent in a year.
Lancer Container Lines Ltd’s recent shareholding pattern, The Promoters of the company own 46.07 percent while Retail shareholders own a 31.29 percent stake in the company and Foreign Institutional Investors own a 22.41 percent stake.
Lancer Container Lines Ltd reported excellent return ratios in the recent financial year with a return on equity (ROE) of 41.91 percent and a return on capital employed (ROCE) of 29.64 percent.
Lancer Container Lines Ltd. offers liner services to countries in Asia, Africa, Latin America, and the Caribbean. Along with shipping, Lancer Container also provides services related to shipping, such as project and freight forwarding, container trading, and leading.
Written by:- Abhishek Singh
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