TVS Supply Chain Solutions jumped 6.08% to Rs 179.60 after the company announced that it has secured a new 5-year strategic contract with Daimler Truck South East Asia for providing integrated supply chain solutions (ISCS) service in Singapore.
Daimler Truck South East Asia is a Daimler Truck AG company.
Daimler Truck Holding AG (Daimler Truck) is one of the world's largest commercial vehicle manufacturers, with over 40 main locations and more than 100,000 employees around the globe.
The scope of the aforementioned contract involves streamlining the supply chain operations for Daimler Truck South East Asia's distributor network, dealers, & workshops in 16 countries in the Asia-Pacific region from its strategic logistics centre in Singapore.
TVS SCS will establish a robust logistics solution for distributing spare parts and related items.
The company will also deliver a customised IT solution suite, centred on an online platform that provides inventory visibility and ordering to Daimler Truck Parts Centre (DTPC) Southeast Asia (SEA) customers. The IT solution also provides DTPC SEA with an integrated capability for inventory management, parts replenishment ordering, parts pricing, invoicing and data analytics.
Vittorio Favati, CEO of TVS SCS Global Forwarding Solutions, said: We are thrilled about the opportunity to deepen our partnership with Daimler Truck AG and assist with their strategic goals, particularly the distribution and warehousing solutions in Singapore.
The long-standing relationship between Daimler and TVS SCS is a testament to both companies sharing a commitment to operational excellence and innovation.
TVS Supply Chain Solutions is an India-based multinational company, who pioneered the development of the supply chain solutions market in India. The company's customers span across numerous industries such as automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare.
The company had reported consolidated net profit of Rs 5.38 crore in Q4 FY24 as against a net loss of Rs 12.35 crore posted in corresponding quarter last year. Revenue from operations increased 4.50% to Rs 2,426.31 crore in Q4 FY24 as compared with Rs 2,321.61 crore in Q4 FY23.
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