Microcap Logistics stock, with a well-diversified portfolio, hit a 5% upper circuit after securing two distinct orders from separate companies for land transportation contracts.
Share Price Movement
With a market capitalization of ₹121 Cr, the share of Ashapura Logistics (formerly Ashapura Forwarders Limited) opened at a 5% upper circuit of ₹89.80.
The stock was recently listed on the exchange on 6th August 2024, at the price of ₹185 per share up 28% from its IPO price of ₹144. But since has declined 51% from its listing price.
Details about the order
Hindustan Coca-Cola Beverages Private Limited has given a 1-year transportation contract to the company worth ₹7.34 Cr for logistics services of goods from Ahmedabad, Gujarat to Bhopal, Madhya Pradesh.
Tycoons Industries Private Limited has also given a 1-year transportation contract to the company worth ₹49 Cr for logistics services of coal from Magadh Sanghmitra Coal Project to Phulbasiya Siding at Ramgarh, Jharkhand.
Q2FY25 Results
The company reported a 2% YoY increase in revenue from ₹91.48 Cr in H2FY23 to ₹93.55 Cr in H2FY24. Their Net profit too saw an upside with a 10% YoY increase from ₹5.92 Cr to ₹6.51 Cr for the same period.
The debt-to-equity ratio stood at 0.28 compared to 0.63 last year. The PE ratio for the company stands at 9.42 compared to the industry PE of 40.96
About the company
Ashapura Logistics Ltd was incorporated as Ashapura Forwarders Private Limited’ in Ahmedabad, Gujarat as a Private Limited Company, it encompasses all aspects of global cargo transportation and logistics services spanning seven continents with a network of offices and alliances across the globe. The company portfolio includes Ocean freight, Air freight, Custom Clearance, Surface Transportation, Warehousing & Distribution, and Domestic cargo transportation.
Written by Abhishek Das
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