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Shreyas’ excellent performance coupled with an impressive growth plan

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Announcement Corporate
Last Updated : Jan 20 2013 | 1:24 AM IST

Shreyas  Shipping  &  Logistics Limited, a multi-modal Logistics & Shipping Company,  announced  its  unaudited  financial  results for the quarter and period ended 30th September, 2010 today.

Financial highlights:

The Company has recorded a healthy growth in its business which is evident from its financial performance. The total revenue for the quarter ended 30th September, 2010  increased  to Rs. 5109.11lacs over the corresponding quarter of the previous year of  Rs. 3718.11 lacs thus registering a growth of  27.22%.   The Net Profit for  the quarter ended 30th September, 2010 increased  to Rs. 485.93 lacs while the Net Loss for the quarter ended 30th September, 2009 was Rs. 677.06 lacs.

While  the  revenue for half year ended 30th September, 2010 is Rs. 9450.62 lacs  ,  the  corresponding  figure for the half year ended 30th September, 2009  was Rs. 7638.47 lacs which constitutes an increase of 19.17%. The Net Profit for the half year ended 30th September, 2010 increased to Rs. 648.79 lacs  while  the  Net Loss for the half year ended 30th September, 2009 was Rs.  841.55 lacs. From the figures, it can be easily ascertained that there was a swing of Rs. 15 crores in the profitability.

Commenting  on  the performance of the second quarter, Mr. S. Ramakrishnan, Chairman  &  Managing  Director,  Shreyas  Shipping  &  Logistics said “Our performance marks the turning point wherein the Company is now poised for a massive  expansion  plan.  The trade acknowledgement as The Best Shipping Line Of the Year- Coastal Operator demonstrates the confidence they have in our ability to deliver. .The company now aspires to position itself as a Lead Logistics Player in the Industry giving complete solutions to our clients .In the logistic industry the growth of the organized player will outpace the growth of the industry itself.”

Future Plans:

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Presently  Shreyas owns and operates four vessels. In view of the expansion plans,  the  Company  proposes  to  acquire  2  container  vessels  for its services.

Currently Shreyas Relay Systems Ltd moves 6 lakhs tonnes of cargo per annum through   multimodal   logistics system.  In  order  to  have  a  backward integration   of  its  processes,  the  Company  now  proposes  to  set  up warehousing  facilities  of  approximately 1 lakh square feet  at strategic locations  across  the  country  in  the  initial stages and scale it up in coming  years  as  per  need.  These facilities would be taken up on the long-term lease model. At  present,  the  company  operates  around  8  trailers  and proposes  to introduce state of art technically advanced 100 newer fleet   over a period of time.

Shreyas will  also spread its wings to other facets of logistics like bulk logistics,  cold  storage,  liquid  logistics etc and provide an end to end logistics  solution  to its clientele. Shreyas is a part of Transworld Group which has hands on experience in various areas of logistics. At appropriate level, these group companies will add value to Shreyas.

Background of Shreyas Shipping & Logistics Ltd:
Shreyas Shipping & Logistics Limited is a part of the Transworld Group of Companies.  Mr.  R.  Sivaswamy, in 1977, founded the Transworld Group and navigated it through its formative years, establishing it as a reputed shipping company in India and the Gulf.

It was incorporated in 1988 and started its journey in the year 1994 with 2 vessels.  Shreyas was the first company to offer feedering services in India.

In order  to  shift  dependence  from  shipping  income, in the  year 2005, Shreyas  Relay  Systems  Ltd  was  incorporates  as  fully owned subsidiary offering    a  multimodal  business  model  using  the  land-sea-air  combi movements.

Shreyas  recently  won  the  award  as  “Shipping Line of the Year – Costal Operator”  at  the  Maritime  And  Logistics  Awards 2010 organised by Exim India.

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First Published: Oct 26 2010 | 7:34 PM IST

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