Gati Ltd looks to shut two more businesses post cold chain exit

In May, Gati Ltd exited its cold chain solutions business, Gati Kausar India Ltd, to focus on express distribution and e-commerce.

After exiting the cold chain business, express distribution company Gati Ltd is now looking to shed some more weight and is currently engaged in doing away with two more of its subsidiaries-- trading solution and freight forwarding businesses.

“We are amid closing down our Gati Import Export Trading Limited (GIETL) subsidiary which maintains the inventory for clients on its books. We have already dialed down all contracts under this entity and are in process of shutting down,” Bala Aghoramurthy, deputy managing director at Gati Ltd told Business Standard.

As per company’s FY20 annual report, GIETL is 0.67 percent of its