 "TVS Supply Chain Solutions, TVS SCS,")
Shares of TVS Supply Chain Solutions soared 7.6 per cent at Rs 182.55 per share on the BSE in early trades on Wednesday.
This came after the company on Tuesday disclosed about its five-year contract with Daimler Truck South East Asia for Integrated Supply Chain Solutions (ISCS) services in Singapore. The Mercedes-Benz Group holds the largest stake in Daimler Truck Holding AG, followed by other significant shareholders such as the Mercedes-Benz Pension Trust and the Kuwait Investment Authority.
This came after the company on Tuesday disclosed about its five-year contract with Daimler Truck South East Asia for Integrated Supply Chain Solutions (ISCS) services in Singapore. The Mercedes-Benz Group holds the largest stake in Daimler Truck Holding AG, followed by other significant shareholders such as the Mercedes-Benz Pension Trust and the Kuwait Investment Authority.
The partnership aims to achieve a logistics solution for distributing spare parts and related items while streamlining supply chain operations across the Asia-Pacific region. From a strategic logistics centre in Singapore, they intend to service Daimler Truck South East Asia's distributor network, dealers, and workshops in 16 countries efficiently.
This partnership entails managing 8,000 SKUs and 65,000 order lines annually, accommodating diverse parts with varying storage needs.
Moreover, it involves ensuring smooth transportation across multiple modes, including air, and road transportation, along with handling customs clearance and dangerous goods (DG) declarations.
TVS Supply Chain Solutions recorded a consolidated net profit of Rs 5.4 crore for the fourth quarter of the financial year 2023-24 (Q4FY24), against a net loss of Rs 9.4 crore during the corresponding quarter in FY23.
During the March quarter, the company witnessed a 4.5 per cent year-on-year increase in revenue from operations, reaching Rs 2,426 crore compared to Rs 2,321 crore in the same period last year.
However, for the financial year 2023-24, TVS Supply Chain Solutions reported a loss of Rs 57.7 crore, compared to a loss of Rs 47.7 crore in the previous year. Its revenue for the year stood at Rs 9,200 crore, down 7.9 per cent from Rs 9,994.4 crore in 2022-23.
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At 09:55 AM; the stock of the company was trading 7.12 per cent higher at Rs 181.35 per share on the BSE. By comparison the BSE Sensex climbed up by 0.45 per cent.
The stock of the company is presently trading at a price to earnings multiple of 70.67 times with an earning per share of Rs 2.40.
