This logistics stock reached its 52- week high in the market on Friday after the company received a long- term business order worth approximately Rs. 72 crore.
Share price of AVG Logistics opened at Rs. 302.30 per share and gained almost 3% to reach its 52- week high of Rs. 305 levels. The stock gave a multibagger return of 91.56% in the last six months and 151.92% in the last one year.
On 21 Sep 2023, the company received an order worth approximately Rs. 72 crore from an unidentified multinational company in the FMCG Sector. The order is to be executed from Q3FY24 over the next three years. The company is expecting double digit growth in their FY24 in regard to receiving this order.
Comparing its recent financials on a QoQ basis, the company recorded a revenue of Rs. 100.34 crore in Q1FY24 which is a decrease of 24% from Rs. 132.03 crore in Q4FY23. Its net profit of Rs. 26.06 crore in Q4FY23 saw a heavy decline of 92% to Rs. 2.08 crore in Q1FY24.
As per its shareholding pattern, the promoters of the company hold a total of 61.22% while the public holding stands at 17.12% for the June Quarter.
AVG Logistics Limited is a leading solutions provider which is based out in India. The company acts as a multinational company which provides solutions which are custom and driven by technology for many industries such as warehousing, transportation, supply chain management and distribution.
Written by Bhumika Khandelwal
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