Share price of micro-cap logistics stock moved up by 20% to hit an intraday high at Rs. 62.17 on the BSE in the trading session of Monday, after entering into a contract with Ambuja Cement Limited.
With a market capitalisation of Rs. 126.4 crores, at 12:21 p.m. the shares of Orissa Bengal Carrier Limited were trading in the green at Rs. 59.65, up by 15.13 percent, compared to its previous closing price of Rs. 51.81.
According to the recent regulatory filings with the stock exchanges, Orissa Bengal Carrier Limited (OBCL) has accepted the Letter of Intent (LoI) and entered into a contract for the transportation of nearly 1.8 lakh Metric Tons of materials of Ambuja Cement Limited.
In terms of financials, the company’s revenue from operations grew by around 2.1 percent from Rs. 90.41 crore in Q2 FY23-24 to Rs. 92.3 crore in Q3 FY23-24. However, the net profit of OBCL decreased by 17.94 percent, from Rs. 1.95 crore in Q2 FY23-24 to Rs. 1.6 crore in Q3 FY23-24.
The return on capital employed (ROCE) declined by 7.47 percent from 14.81 percent in FY21-22 to 7.34 percent in FY22-23, while the return on equity (RoE) was 4.28 percent in FY22-23, down by 5.26 percent from 9.54 percent in FY21-22.
As of March 2024, the Promoters’ holdings have remained unchanged at 67.23 percent over the last two quarters, whereas the Public holdings fell from 32.78 percent in Q3 FY23-24 to 32.72 percent in Q4 FY23-24.
The company has delivered positive returns of about 5.6 percent in the last six months and nearly 5.7 percent in the last one year. So far in 2024, it has given around 1.2 percent of positive returns.
Incorporated in 1934, Orissa Bengal Carrier Limited is engaged in the business of Transportation and Logistics services.
Headquartered in Raipur, Chattisgarh, the company offers a wide range of services including full truck load transport services, parcel, and part truck load services or less than truck load.
Written by Shivani Singh
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