AVG Logistics Achieves 283 per cent PAT Growth in FY24

AVG Logistics Achieves 283 per cent PAT Growth in FY24

May 30, 2024

Mumbai (Maharashtra) [India], May 30: AVG Logistics Limited, (BSE - 543910, NSE - AVG), a leading multimodal logistics solutions provider, has announced its Audited Financial Results for the Q4 and FY24.
Key Consolidated Financial Highlights
Consolidated Key Financial Highlights Q4 FY24
* Total Income of Rs 147.10 Cr, YoY growth of 28.42%
* EBITDA of Rs 45.32 Cr, YoY growth of 61.26%
* EBITDA Margin of 33.12%, YoY growth of 820 Bps
* PAT of Rs 22.88 Cr, YoY growth of 106.56%
* PAT Margin of 16.71%, YoY growth of 689 Bps
* EPS of Rs 19.10, YoY growth of 103.20%
Consolidated Key Financial Highlights FY24
* Total Income of Rs 491.07 Cr, YoY growth of 14.23%
* EBITDA of Rs 108.86 Cr, YoY growth of 40.40%
* EBITDA Margin of 22.69%, YoY growth of 449 Bps
* PAT of Rs 31.92 Cr, YoY growth of 283.07%
* PAT Margin of 6.50%, YoY growth of 456 Bps
* EPS of Rs 26.66, YoY growth of 277.30%
Note: Q4 FY24 includes exception item of Rs. 13.94 Cr & one-off income of Rs. 7.02 Cr reported in other income (PBT Level).
FY24 Highlights:
Company had over 467 owned vehicles in FY23 and by FY24, this increased to 574, with an addition of 107 vehicles.
The Company expands its rail network with the addition of 3 new routes, bringing the total to 8rail routes by FY24.
The company's debt reduced from Rs112.74 Cr to Rs88.88 Cr in FY24, reflecting effective debt management and improved financial health.
Company has declared the dividend to its shareholders consecutively for this year also at a rate of 12% on face value as compared to 10% in previous year.
Commenting on performance, Sanjay Gupta Managing Director & CEO, AVG Logistics Limited said, "We are delighted to share the impressive financial performance we have achieved in the reported quarter. With substantial year-on-year growth in revenue, EBITDA, and PAT, AVG Logistics is reaffirming its commitment to excellence.
The award of the significant Indian Railways contract is a testament to our strategic long-term vision. Our recent acquisition of a fleet of high-quality cold chain vehicles further amplifies our capabilities and demonstrates our dedication to providing top-notch services to our customers.
The adoption of EV electric vehicles and LNG fleets aligns with our sustainability objectives and reinforces the AVG's commitment to responsible business practices and support our customer to fulfil their sustainability goals. With a focus on innovation and environmental awareness, the company aims to establish a new standard for eco-friendly logistics, leading the path towards a cleaner and more sustainable industry while progressing towards the goal of achieving net-zero emissions.
Our commitment to honesty, responsibility, customer dedication, set us apart in the competitive landscape.
We remain dedicated to innovation, strategic partnerships, and an unwavering focus on customer satisfaction"

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