One of the leading multimodal logistics solutions provider, specializing in road & rail transportation, reefers/cold chain, and warehousing segments jumped upto 4 percent in the day’s trade upon receiving a work order worth Rs. 50 Crores for providing Railway logistics
With a market capitalization of Rs. 660 Crores, the shares of AVG Logistics Limited were trading at Rs. 560.60, up 2.83 percent from its previous day’s close price of Rs. 545.15
AVG Logistics Limited secured a significant contract from a renowned electrical appliance manufacturer to revolutionize the transportation of electrical appliances by Leveraging its cutting-edge Multi-Modal Connectivity (MMC).
The said work order is worth Rs. 50 Crores where AVG Logistic Limited will deploy rail transportation, to ensure the safe, reliable, and efficient movement of a range of appliances including washing machines, air conditioners, refrigerators, dishwashers, and other household appliances for over 3 years.
Commenting on the recent update, Mr. Sanjay Gupta Managing Director & CEO, AVG Logistics Limited said, “We are excited about this new contract. It’s a big win for us and shows our commitment to using greener transportation methods.
Under this contract, we will be extending logistics solutions by moving washing machines, air conditioners, refrigerators, dishwashers, and other home appliances more safely and efficiently. We are focused on making our logistics operations more sustainable for the environment and for our customers. We remain dedicated to innovation, strategic partnerships, and an unwavering focus on customer satisfaction”.
AVG Logistics Limited is one of the leading multimodal logistics solutions providers, specializing in road & rail transportation, reefers/cold chain, and warehousing segments with over 50+ fully automated branches across India.
It has a strong clientele base with some well known players that include Nestle, HUL, Airtel, MRF, Jubilant, Apollo Tyres, JK Tyres, ITC, UltraTech Cement, Coca Cola & many other retail and multinational companies.
Its revenue from operations grew by 17.19 percent from Rs. 106.46 Crores in Q3FY23 to Rs. 124.77 Crores in Q3FY24, accompanied by profits of Rs. 1.35 Crores to Rs. 4.80 Crores.
Written by: Bharath K.S
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