Shares of this small-cap stock engaged in the logistics industry jumped 6 percent today after it provided key business updates in a recent filing with the Bombay Stock Exchange (BSE). In the past one month, the scrip has gained about 8 percent from Rs 121.70 to the current price level.
With a market capitalization of Rs 1,700 crores, the stocks of Gati Limited are currently trading at Rs 131.65. The stock prices surged today after the logistics company, in a regulatory filing with the exchange dated 10th July 2023, provided key business updates for the month of June 2023.
The company’s total volume, including the air and surface express, was recorded at 102 thousand tonnes (kt) in the month of June 2023 which expresses an increase of 14 percent as compared to June 2022 and 3 percent growth compared to the previous month. In the past year, the highest volume was recorded in the month of March 2023 which was 107 kt.
Ace Investor Mr. Mukul Agrawal has invested in the shares of the company and, according to the quarter ending March 2023, he holds 70,00,000 equity shares which equate to a 5.38 percent stake in the company. The current holding value of his investment stands at Rs 92.15 crores.
In the past few quarters, the company has faced a reduction in operating revenues as well as after-tax profit numbers. The operating revenues, on one hand, went down from Rs 441 crores during Q3FY2-23 to Rs 415 crores in Q4FY22-23, and, reported losses of Rs 4 crores during Q3FY22-23 which further worsened to losses of Rs 20 crores in Q4FY22-23.
As per the quarter ending March 2023, the Promoters hold a 53.11 (1.21 percent pledged) percent stake, and Foreign Institutional Investors (FIIs) hold a 2.24 percent stake in the company.
Gati Limited is involved in the business of providing supply chain solutions. The company operates in two broad segments namely the ‘Express Distribution’ segment and the ‘Fuel Stations’ segment and generates a majority of its revenue from the latter segment.
Written by Amit Madnani
