Shreeji Translogistics shares rise 5% as company renews contract with Singapore Airlines

Shares of Shreeji Translogistics surged 5 per cent during the trading session on Wednesday after the company announced a renewal of its contract with Singapore Airlines. The company has also established a new Branch in Bhubaneshwar, Orissa.

The Navi Mumbai-based Shreeji Translogistics is a surface logistics and parcel delivery service provider. It provides freight management, logistics solutions, and warehousing services. STL offers a range of services including full truck load transport, less than truck load (LTL), import-export, and over dimensional cargo (ODC) services.

Following the announcement, Shares of Shreeji Translogistics surged about 5 per cent to Rs 68.5 on Wednesday, before giving up some gain. The company was commanding a total market capitalization of Rs 350 crore. The scrip had settled at Rs 65.40 on Tuesday.

Shares of Shreeji Translogistics have delivered multibagger returns to the investors as the stock has risen about 1,350 per cent from its price at Rs 4.74 in November 2020. The scrip had rallied about 600 per cent in the last five year, while the stock is up 36 per cent in the last one year.

The company of Shreeji Translogistics is scheduled to meet on August 8, 2023 (Tuesday) to consider and approve the
unaudited standalone and consolidated financial results of the company for the quarter ended June 30, 2023, the company said in an exchange filing.

In FY23, the company reported revenue of operations at Rs 200.88 crore for the financial year 2023, a 21 per cent growth on a year-on-year (YoY) basis. The EBITDA jumped 21 per cent YoY to Rs 20.67 crore, while PAT came in up 19 per cent at Rs 10.86 crore during the previous fiscal.

Incorporated in 1984, Shreeji Translogistics is engaged in freight management, logistic solutions, and warehousing services. The company's platform trucks are mainly used for import-export containers and also for transportation of heavy-duty goods. It owns and operates a fleet of around 300 owned trucks and more than 4,500 outsourced trucks. 

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