Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

AVG Logistics Achieves 283 Percent PAT Growth in FY24

Mumbai (Maharashtra) [India], May 30: AVG Logistics Limited, (BSE – 543910, NSE – AVG), a leading multimodal logistics solutions provider, has announced its Audited Financial Results for the Q4 and FY24.

Key Consolidated Financial Highlights 

Consolidated Key Financial Highlights Q4 FY24

* Total Income of ₹ 147.10 Cr, YoY growth of 28.42%

* EBITDA of ₹ 45.32 Cr, YoY growth of 61.26%

* EBITDA Margin of 33.12%, YoY growth of 820 Bps

* PAT of ₹ 22.88 Cr, YoY growth of 106.56%

* PAT Margin of 16.71%, YoY growth of 689 Bps

* EPS of ₹ 19.10, YoY growth of 103.20%

Consolidated Key Financial Highlights FY24

* Total Income of ₹ 491.07 Cr, YoY growth of 14.23%

* EBITDA of ₹ 108.86 Cr, YoY growth of 40.40%

* EBITDA Margin of 22.69%, YoY growth of 449 Bps

* PAT of ₹ 31.92 Cr, YoY growth of 283.07%

* PAT Margin of 6.50%, YoY growth of 456 Bps

* EPS of ₹ 26.66, YoY growth of 277.30%

Note: Q4 FY24 includes exception item of Rs. 13.94 Cr & one-off income of Rs. 7.02 Cr reported in other income (PBT Level). 

FY24 Highlights:

Company had over 467 owned vehicles in FY23 and by FY24, this increased to 574, with an addition of 107 vehicles.

The Company expands its rail network with the addition of 3 new routes, bringing the total to 8rail routes by FY24.

The company’s debt reduced from ₹112.74 Cr to ₹88.88 Cr in FY24, reflecting effective debt management and improved financial health.

Company has declared the dividend to its shareholders consecutively for this year also at a rate of 12% on face value as compared to 10% in previous year.

Commenting on performance, Mr. Sanjay Gupta Managing Director & CEO, AVG Logistics Limited said, “We are delighted to share the impressive financial performance we have achieved in the reported quarter. With substantial year-on-year growth in revenue, EBITDA, and PAT, AVG Logistics is reaffirming its commitment to excellence.

The award of the significant Indian Railways contract is a testament to our strategic long-term vision. Our recent acquisition of a fleet of high-quality cold chain vehicles further amplifies our capabilities and demonstrates our dedication to providing top-notch services to our customers.

The adoption of EV electric vehicles and LNG fleets aligns with our sustainability objectives and reinforces the AVG’s commitment to responsible business practices and support our customer to fulfil their sustainability goals. With a focus on innovation and environmental awareness, the company aims to establish a new standard for eco-friendly logistics, leading the path towards a cleaner and more sustainable industry while progressing towards the goal of achieving net-zero emissions.

Our commitment to honesty, responsibility, customer dedication, set us apart in the competitive landscape.

We remain dedicated to innovation, strategic partnerships, and an unwavering focus on customer satisfaction”

Highlights for Q4 FY24 (January 2024 – March 2024)

Long-Term Lease Secured for High-Capacity Parcel Cargo Express Train ServiceThe specialized Parcel Cargo Express Train (PCET) will start with a carrying capacity of 364 tonnes per trip for the first six months, which will then increase to 484 tonnes, ensuring adaptability and increased efficiency over the contract period.   Covering 2,500 Kms between Chennai and Guwahati in just 72 hours, the PCET will complete 4 trips every month, totalling 313 trips over six years, providing expeditious and seamless connectivity for cargo transportation.
Strategic Partial Divestment in NDR-AVG Joint VentureThe Company has sold approximately 69% of its 35% stake in NDR-AVG Business Park Private Limited, a prime warehouse project in New Delhi, realizing a profit of ₹21.25 at PBT level.   The original investment of ₹ 3.06 Crore is retained through units in NDR InvIT Trust, now valued at ₹10.08 Crore. 
Company Partners with Blue Energy Motors to Pioneer Sustainable LNG TransportationThe Company has entered into a Transportation as a Service (TAAS) Agreement with Blue Energy Motors (BEM), India’s exclusive LNG truck manufacturer, to promote sustainable transportation practices.   This strategic alliance highlights the shared dedication of both companies to integrating LNG-powered vehicles into the logistics ecosystem, advancing eco-friendly transportation solutions, and fostering a greener future.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.