AVG Logistics, a leader in multimodal shipping solutions, has secured a major contract to transport appliances for a top manufacturer. This 3-year deal, worth approximately Rs. 50 crores, will see AVG leverage its extensive network to move washing machines, refrigerators, and other appliances in an eco-friendly way.
Instead of traditional road transport, AVG plans to use a multimodal approach with a focus on railways. This shift will not only ensure safe and reliable appliance delivery but also significantly reduce the company’s carbon footprint.
Recently, AVG Logistics Limited has secured a significant contract with the Indian Railways, leasing a Parcel Cargo Express Train (PCET) for a 6-year term valued at Rs 105 crore. This dedicated train will connect businesses in Chennai and Guwahati, offering an efficient and reliable cargo transportation solution.
These contracts win marks a positive development for AVG Logistics, solidifying its position in the Indian logistics sector and highlighting its commitment to providing innovative and efficient solutions for its clients.
In Q3FY24, the company posted 17.2 per cent growth in its consolidated revenue at Rs 124.77 crore compared to Rs 106.46 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 23.14 crore, while the PAT of the company stood at Rs 4.36 crore, from Rs 1.94 crore, last year same quarter.
AVG Logistics Limited is one of the leading multimodal logistics solutions providers based in India. Founded in 2010, the company has rapidly grown to become a trusted partner for businesses across India. The shares of the company have gained about 950 per cent in the last three years and FIIs have increased their stake in the company in March 2024.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
