Shares of this logistic company surged 10 percent in Tuesday’s trading session after the board of directors considered the stock split. The shares have delivered a multibagger return of 110 percent to its investors in six months.
With a market capitalisation of Rs. 879 crores, the shares of Tiger Logistics (India) Ltd started Tuesday’s trading session on a higher note at Rs. 810 compared to its previous close of Rs. 788.15. The shares hit a high of Rs. 868, gaining around 10 percent, which is also recorded as the company’s fresh 52-week high and closed the day at Rs. 859 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing mentioned that the board of directors had given the proposal of sub-division or split of the company’s 1 Equity Share having a face value of Rs. 10 each into 10 equity shares of the company having face value of Rs. 1 each, which is subject to the approval of shareholders. In this regard, the record date is yet to be decided by the company.
Coming onto the company’s financial statements, the revenue increased by 28 percent from Rs. 42.02 crores during the June quarter to Rs. 53.58 crores in the September quarter. In addition, the net profits zoomed by 53 percent from Rs. 2.10 crores to Rs. 3.22 crores during the same timeframe.
During the last quarter, the company has strengthened its position in government projects and secured contracts from prestigious organizations. Moreover, Tiger Logistics plans to penetrate deeper into tier B-30 cities to increase the performance of its digital platform FreightJar.
Tiger Logistics has seen a major increase in TEUs handling, with a 29 percent increase in total TEUs volumes from quarter to quarter
The revenue mix of the company has shifted towards the auto sector, which is considered to be a consistent and growing sector for the company and they have earned 83 percent of FY23 revenues from the automobile industry.
Furthermore, commodities remain a filler business for Tiger Logistics, while the company has been focusing on higher-margin sectors like auto and electronics.
Headquartered in New Delhi, Tiger Logistics was incorporated in 2000. The company is a third-party logistics services provider. Its business covers international freight forwarding, supply chain management, project logistics, defence logistics, and cold chain logistics.
Written By Vaibhav Patil
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