AVG Logistics Reports Profit Of Rs 8.33 Cr In FY23

AVG Logistics, a Leading logistic Company specialising in Rail, Cold chain, PTL transportation and warehousing, has announced its audited Financial Results for Q4 & FY23.

Consolidated Financials at a Glance:

Total Revenues at Rs 429.90 crore

EBITDA at Rs 77.74 crore

EBITDA Margin at 18.08 per cent Vs 9.56 per cent

PAT at Rs 8.33 crore

PAT Margin at 1.83 per cent Vs 0.21 per cent

EPS at Rs 7.09 Vs Rs 0.82

The board approved the allotment of 8,50,000 convertible warrants convertible into one equity share of Rs 10 each to promoters on a preferential basis at a price of Rs 222.60 per warrant.

The board approved preferential allotment of 650,000 convertible warrants convertible into one equity share of Rs 10 each to non-promoters on a preferential basis at a price of Rs222.60 per warrant and a final dividend of Rs 1 per share

Commenting on this Sanjay Gupta, Managing Director and CEO of the Company said "We are happy to report strong growth in profit for FY23. This was possible due to increased revenue from the high-margin reefer and rail transport business.

The Company has expanded its capacity in the QSR and cold chain solutions space. AVG has signed a contract with leaders in the FMCG segment and QSR players and entered into the Ice-cream space, deepening its presence in the Northeast region. We are expanding the capacity of high-margin reefer in FY24 which would add to our bottom line substantially.

We are also looking to expand our warehousing capacity from 7 lakh sq. ft area to 9 lakh sq. ft. area to increase our supply chain business. This includes the acquisition of a warehouse of 85,000 sq. ft area in Goa.

I am happy to inform you that your Company has moved to the Mainboard of NSE and BSE from NSE Emerge w.e.f. May 12th 2023. Migration to the main board is a big milestone for the Company. This will improve liquidity and bring a new set of investors"

AVG Logistics was established in 2010 by Sanjay Gupta, a first-generation entrepreneur. Specialising in transportation and warehousing, AVG offers end-to-end customised logistics solutions to clients that include (primary and secondary) road transport services, railway logistics solutions, coastal shipping services, reefer transportation, warehousing services, and more.

With a strong pan-India presence and over 80 branches, the company has an infrastructure comprising 500+ trucks and 6 leased warehouses. The Company own a warehouse in Mysore, and an upcoming warehouse in Agartala, providing a total operational space of approximately 705,000 sq. ft.