Under Rs 150: Small-Cap Logistics Provider Selected as Sole Supply Chain Partner for Tata Steel's In-Plant Logistics & Container Rake Transportation
The order entails entire logistics support and container rake transportation for both loose and bagged direct reduced iron.
Western Carriers (India) Ltd (WCIL), a leading 3PL and 4PL logistics company in India has been appointed as the sole supply chain partner for in-plant logistics and container rake transportation for the Tata Steel Sponge Iron Joda (TSSIJ) plant in Joda, Odisha, for a three-year period.
This contract covers the entire logistics support and transportation of both loose and bagged direct reduced iron (DRI/Sponge Iron). WCIL provides comprehensive end-to-end logistics services, ensuring the seamless movement of goods through various modes of transport, including road, rail, and sea/river. The company’s expertise encompasses both domestic and EXIM cargo, enabling efficient logistics operations within and beyond national borders.
The order value for the handling contract awarded to this Small-Cap logistics solutions provider for in-plant logistics and container rake transportation at the Tata Steel Sponge Iron Joda (TSSIJ) plant is approximately Rs 41 crore.
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Looking at the share performance, at the start of the day's trading session, shares of Western Carriers (India) Ltd opened at Rs 149 per share, compared to the previous day's closing figure of Rs 145.40 per share on the BSE. Finally, the shares closed at Rs 149 per share. The company's current market capitalization stands at Rs 1519 crore.
As per the Quarterly Results in June 2024, Western Carriers (India) Ltd recorded a revenue of Rs 423 crore. The operating profit reported by the company was Rs 35 crore. The net profit stood at Rs 19 crore compared to a profit of Rs 17 crore. Looking at the annual performance, the company generated a revenue of Rs 1686 crore in FY24. The operating profit for FY24 was Rs 146 crore with a net profit of Rs 80 crore compared to a net profit of Rs 72 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.