Gati Ltd. H1FY’15 Consolidated Net Profit rises by 112% at Rs. 27.54 crore
Consolidated Half Yearly Income at Rs. 815 crore, up 18%
|
In Q2FY’15, the Company’s consolidated net profit rose by 117% at Rs 12.49 crore as against Rs 5.76 crore in the corresponding quarter previous year. The company now delivers over 6 million packages per month across 667 districts in India.
The key highlight for the company this quarter is Gati Kausar India Ltd., the cold chain arm, raising Rs. 150 crore from Mandala Capital AG Ltd. and Mandala Agribusiness Investments II Ltd. Out of the 150 crore, INR 30 crore has been invested in the form of Equity shares and Compulsory Convertible Preferential shares (CCPS) and the remaining INR 120 crore shall be invested in the form of Non-Convertible Bonds (NCB).
Mandala Capital AG Fund Ltd. is a private equity fund that invests in the agricultural sector in the Indian and South Asia markets. Mandala’s founders and partners include longstanding Indian agriculture entrepreneurs as well as Altima Partners LLP, a multi-billion dollar investment fund with substantial investments in the agriculture sector globally.
The funds raised by Gati Kausar will be utilised primarily for building a network of cold warehouses across the country over the next three years thus enabling the company to offer integrated cold chain logistics and supply chain management, as well as value added services. Gati Kausar already transports refrigerated goods across verticals such as healthcare, meat & poultry, bio-pharma, frozen & fresh produce, dairy products, organised retail and quick service restaurants. With an existing fleet size of approximately 200 vehicles, Gati Kausar intends to build synergies for its clients by offering both reefer storage and transportation under one roof.
Commenting on the PE Investment, Mr. Mahendra Agarwal, Founder& CEO said, “The investment in Gati Kausar will give us the impetus to position ourselves as the end-to-end solution provider for the cold chain industry. We are confident that with the expansion in the cold warehouses across the country in the next 3 years, we will emerge leaders in this sector too.”
Highlights:
1. Gati Ltd. now delivers over 6 million packages per month, up from 5.75 million packages in the previous quarter, across 667 districts in India.
2. Gati Kintetsu Express Private Ltd – Express Distribution and Supply Chain Solutions
- For the quarter ended Sept 30th 2014, the total income for GATI-KWE rose by 17% at Rs 292.34 crore from Rs 250.65 crore in the corresponding quarter of last year
- EBIDTA rose to Rs 33.58 crore in Q2FY’15 from Rs 23.43 crore in the corresponding quarter of last year, up by 43%
- EBIDTA margins stood at 12% in Q2FY’15 compared to 9% in the corresponding quarter of last year
- JV Synergy – the synergies business with our JV partner has further progressed and generated revenue of Rs. 8 crore in H1FY’15. The synergy has also helped acquire 22 new business accounts during the quarter. Going forward the JV synergy is expected to grow further.
- Gati KWE has further expanded its capacity through a centralized network system and stronger relationships with vendors. Majority of the operating units are under CCTV surveillance for maintaining quality, safety and security
3. Gati Kausar (Cold Chain Solutions)
- In Q2FY’15, Gati Kausar registered a total income of Rs 9.41 crore
About Gati Ltd:
GatiLimited (www.gati.com) a pioneer and leader in Express Distribution and Supply Chain Solutions in India delivers over 6 million packages per month. Having started as a cargo management company in 1989, Gati has grown into an organization with more than 4,000 business partners and a network reach of 667 out of total 671 districts in India. Gati has over 4500 vehicles on the road excluding their fleet of refrigerated vehicles, container shipping vessels and world class warehousing facilities across India. Furthermore, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in India, Singapore, Hong Kong, China, Nepal and Thailand.