Q4 2024 Tiger Logistics (India) Ltd Earnings Call Transcript
Key Points
- Tiger Logistics (India) Ltd (BOM:536264) achieved a significant volume growth of around 17% quarter-over-quarter.
- The company successfully launched version 2.0 of its logistics online platform, FreightJar, enhancing market access and customer experience.
- The imports department has shown promising growth, particularly in the electronics and polyester sectors.
- The company secured new contracts in government projects and expanded its footprint in the auto and steel sectors.
- Despite industry challenges, the company remains optimistic about future growth, supported by long-term contracts and a robust business model.
- The logistics industry faced significant challenges due to the Red Sea crisis, port congestion, and container shortages.
- Revenue for FY24 was significantly lower at INR24,026 lakhs compared to INR43,335 lakhs in FY23, primarily due to lower freight rates.
- The company has not yet achieved its goal of inorganic growth through the acquisition of an LCL company.
- Increased freight rates have led to some customers holding off on imports, particularly for low-value products.
- The ongoing Red Sea crisis and container shortages are expected to continue impacting operations in the near term.
Ladies and gentlemen, good day, and welcome to Tiger Logistics India Limited Q4 and FY2024 earnings conference call hosted by Rik Capital. We have with us today from the management, Mr. Harpreet Singh Malhotra, Chairman and Managing Director of Tiger Logistics (India) Limited. (Operator Instructions)
Please note that this conference is being recorded. Before we proceed with this call, I would like to take this opportunity to remind everyone about the disclaimer related to this conference call. Today's discussion may be forward-looking in nature based on the management's current beliefs and expectations. It must be viewed in conjunction with the risks that our business faces that could cause our future results, performance, or achievements to differ significantly from what we may have expressed or implied by such forward-looking statements. I now would like to hand the conference over to Mr. Harpreet Singh Malhotra, sir, for opening remarks. Thank you and over to you, sir.
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