The shares of one of the global supply chain solutions provider gained nearly 4% to ₹174.10 per share on thursday after the company won a new business deal from Eicher Motor Bus Facility in Madhya Pradesh.
At 1:00 p.m., TVS Supply Chain Solutions Ltd shares were trading at ₹168 per share, 0.40 percent above the previous close price on the National Stock Exchange. The company has a market capitalization of ₹7,492 crore.
TVS Supply Chain Solutions Limited, a prominent entity within the TVS Mobility Group, stands as one of India’s premier integrated supply chain solutions providers, it secured a notable contract from VE Commercial Vehicles (VECV) to manage their in-plant warehousing and logistics operations at the Eicher bus factory in Baggad, Madhya Pradesh.
Since 2006, VECV has collaborated with TVS SCS for in-plant logistics operations at their Truck Plant in Pithampur, Madhya Pradesh. The recent agreement extends this partnership to VECV’s bus plant for three years.
A joint venture between the Volvo Group and Eicher Motors Limited, VECV, established in August 2008, encompasses various operations including Eicher-branded trucks and buses, distribution of Volvo Trucks in India, engine manufacturing, non-automotive engine activities, and the Eicher component business.
TVS Supply Chain Solutions provides supply chain management services for international organizations, government departments, and large and medium-sized businesses.
During the period, the company witnessed a notable 6.5 percent surge in revenue, a bit declining from ₹2,373 crore in Q3FY23 to ₹2,221 crore in Q3FY24. Conversely, the net profit underwent a substantial 38 percent decrease, plummeting from ₹16.07 crore to ₹9.9 crore.
Over the past six months, TVS Supply Chain Solutions Ltd has experienced a 20% decrease in its shares, followed by a 16% decline over the past year.
The company’s revenue streams are diversified, with the auto sector contributing 23.17%, industrial sector clients at 35.35%, Tech & Tech Infra at 11.99%, Rail & Utilities at 5.77%, and the consumer sector making up 11.74% of the total revenue.
Written by Omkar Chitnis
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