Post Date : January 3, 2020
AllCargo Logistics, a multimodal logistics company, that recently acquired a major stake in Gati is further looking to invigorate its distribution network across India.
According to the report by MoneyControl, it is likely to extend an offer to acquire an additional 26% share from GATI’s public shareholders, overall gaining 45%(nearly) stake in GATI.
The logistics firm showed steady performance in the recent quarters, in the first half of FY20 the company recorded a revenue increment of 10% (YOY) to over INR 3,688 cr reported money control.
Further, the company by gaining shares in the global trade saw an overall volume growth of 6%, derived by its largest revenue segment the Multimodal Transport Operations.
However, the company’s container freight station volume was subdued at a growth of 2% only.
AllCargo as a part of its vision to increase its domestic footprint is looking to invest INR 1,000cr in the development of warehouses which will increase the revenue in the near future.