spot_img

Container handling declines by...

Transnet is currently under significant scrutiny due to the recent Container Port Performance...

Dp World Opens World-Class...

DP World is pleased to announce that its Market Access Consumer business, Deep...

Navigating Kasumbalesa: Alistair Group’s...

The Kasumbalesa border post, a vital gateway for cross-border trade between Zambia and...

Integrated Pump Technology to...

Integrated Pump Technology, a leading provider of pump solutions to the mining industry,...
HomeSHIPPING AND PORTSGATI Express Business...

GATI Express Business FY23 EBITDA Doubled Over FY22

Gati Limited (GATI) one of India’s leading premier Express Distribution and Supply Chain Management company, has reported its unaudited financial results for the quarter ended March 31, 2023.

Financial Highlights for Express Business – Q4FY23 & FY23

Particulars (in ₹ Crs) Q4FY23 Q4FY22 Y-o-Y FY23 FY22 Y-o-Y
Revenue 356 320 11% 1,469 1,242 18%
EBITDA 12 4 200% 72 36 103%
Profit Before Tax (PBT)* -10 -6 NM 2 -8 NM

*pre-exceptions

For Q4FY23, Fuel stations revenue grew by 8.7% Y-o-Y, for FY23 the growth stood at 11.5% Y-o-Y.

Commenting on the results Mr. Pirojshaw (Phil) Sarkari, Chief Executive Officer of Gati Limited said:

“The company has recorded a revenue of ₹1,469 Crores in FY23 for the express business, witnessing a growth of 18% as compared to the last year. This performance reflects company’s focus on volume growth and operational efficiency. The year saw Gati launching its mega surface transhipment hub at Bhiwandi (Mumbai), in addition to hubs at Nagpur and Guwahati. The Mumbai hub is spread over 1.15 lac square feet with 61 bays and dock leveler. We also saw 100% implementation of digital e-dockets for retail clients and have started a pilot for MSMEs. The gross margin expansion remains on track, witnessing an improvement of 133bps over last year. In the next phase of infrastructure development, we’ll be setting up four surface transhipment hubs in Bengaluru, Hyderabad, Indore and Kolkata.”  

The quarter gone by saw weakness in initial months followed by a very strong March. However, overall weakness in consumer durables and automobile sector, notwithstanding the unseasonal rains dampened the sentiment a bit. Despite tough economic scenario, the company has been able to maintain its performance.  Our strategy for delivering such performance remains consistent and relies on our pillars of digitalization, sales acceleration, infrastructure, and operational excellence. We mandated GPS in all Linehaul & Feeder vehicles, to enhance visibility, improve performance & optimized productivity via continuous monitoring. The Company also improvised on dashboard designs to enable real time data visibility and KPI monitoring. Gati aims to enhance customer experience and operational excellence on front-end digitalization that include CRM system for managing customer relationships, sales acceleration with cluster-based approach, data science and digital payments.

We anticipate improvement in our performance in the coming quarters as we continue our journey of customer acquisition and infrastructure amplification. The management aims to launch five more hubs in the coming years that will help improve volumes through enhanced automation, better load factor and productivity per head. We also remain committed to our ESG journey and aim to convert entire delivery fleet to electric vehicles/alternate fuel by 2025. During the year, we achieved the milestone of plying 100+ electric vehicles (EVs) across India. We also signed an MOU with Gentari Mobility (Petronas Group) for 500 EVs under VaaS (Vehicle as a Service) model.

Get notified whenever we post something new!

Continue reading

Container handling declines by 30.3% at South African ports in a single week

Transnet is currently under significant scrutiny due to the recent Container Port Performance Index (CPPI) which ranked South Africa’s ports among the lowest of 405 evaluated worldwide. The challenges faced by the country’s ports have been further exacerbated by...

Dp World Opens World-Class Cold Storage Facility In Lusaka, Zambia

DP World is pleased to announce that its Market Access Consumer business, Deep Catch Group, has opened a world-class cold storage facility, Lusaka Commercial Cold Store (LCCS), in Lusaka, Zambia. The LCCS is a groundbreaking project that is set...

Navigating Kasumbalesa: Alistair Group’s Strategic Solutions

The Kasumbalesa border post, a vital gateway for cross-border trade between Zambia and the Democratic Republic of Congo (DRC), has been experiencing significant challenges. As a key logistics provider across Sub-Saharan Africa, Alistair Group is committed to transparency and...
spot_img