Allcargo Logistics Unveils Expansion Plans through ASPL

In the latest news from our sources, Allcargo Logistics, by way of its subsidiary Allcargo Supply Chain Private Limited (ASPL), has set its sights on a significant expansion of its warehouse space over the next couple of years.

Allcargo Logistics Stock Reflects Positive Market Response

On the stock front, Allcargo Logistics has witnessed an impressive surge of 9% during intra-day trading on Thursday, despite the market volatility. It ended the day with a 7% gain, with the stock trading at Rs 85.80. This fluctuation was observed with volumes much higher than the two-week average on the BSE, a strong indicator of investor interest as a response to the company’s projected growth.

Plan for Expansion after Minor Setbacks in Shipping Volumes

After witnessing a minor dip of 3% in shipping volumes due to unexpected disruptions in the Red Sea affecting Europe, Latin America, and America, the company has now decided to venture into northern and southern regions. ASPL, presently operating with a massive 6 million sq ft of warehouse space, is primed for expansion.

New Features of the Expansion

The company’s expansion aims to incorporate state-of-the-art infrastructure along with the latest Warehouse Management Systems (WMS) to improve overall efficiency and consistency while handling and storing goods.

Quarterly Financial Report Shows Downtrend

The last financial quarter ending in December for Allcargo Logistics, however, showed a considerable year-on-year drop in net profit by 91.9%, along with a decline in total income by 22.9%.

A Look Back: Allcargo’s Liberal Bonus Issue

In a retrospect, the company put forth a generous bonus issue last November, which came into effect at the beginning of this year. Despite the recent financial dips, this strategic move has had profound implications, and we look forward to observing its long-term impact.