The shares of this Logistics company fell by 2 percent after Adani Group sold 40,389 equity shares at a price of Rs 160.67 per share.
With a market capitalization of Rs 79.15 crores, the shares of ABC India Ltd are trading at Rs 146.10 per share, which fell around 1.12 percent compared to the previous closing price of Rs 147.76 per share.
According to Money Control, Adani Group sold 40,389 equity shares in ABC India Ltd at a price of Rs 160.67 per share. As of September 2023, Adani Group held 65,000 equity shares or a 1.2 percent stake in the company.
The company is divided into two main business segments: petrol pump and freight and services. The Freight and services Segment earned Rs 7655.51 lakhs, and the Petrol Pump Segment earned Rs 6861.68 lakhs out of the total earnings for these two segments, which amounted to Rs 14517.19 lakhs.
Looking into ABC India Ltd’s performance, revenue increased by 35.7 percent from Rs 33.99 Crore in Q2FY23 to Rs 46.13 Crore in Q2FY24. During the same time frame, net profit decreased by 12 percent from Rs 0.79 crore to Rs 0.79 crore.
The company reported an increase in the return ratios with the return on equity (ROE) increasing from 7.61 percent in FY 2021-22 to 10.78 percent in FY 2022-23, and in the same time frame, the return on capital employed (ROCE) increased from 9.49 percent to 10.89 percent.
The company’s debt-to-equity ratio decreased as compared to the previous year from 0.49 percent to 0.47 percent, and ABC Ltd’s net profit margin also increased from the previous financial year from 2.03 percent to 2.93 percent.
ABC India Ltd. offers Dimensional Cargo services and multi-modal logistics services (road, rail, river, customs, storage, and warehousing) via a nationwide network of 20 branches located in 20 locations, including warehouses.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
