AVG Logistics Limited grabs Long term Business Order worth INR 72 Crore from India's leading FMCG Company

AVG Logistics Limited ("AVG"), a leading multimodal logistics solutions provider in India has received a new order from an existing multinational customer in the FMCG Industry. The Cumulative size of the order is INR 72 crores approx. which would be executed over a tenure of 3 years.

The awarded business contract would strengthen the company's geographical presence in India and would increase the market share with the customer and help in achieving double digit growth in FY24. AVG logistics is positioned for further growth and expansion in tech enabled customised dedicated trucking business model across all regions.

Commenting on this development, Mr. Sanjay Gupta, Managing Director and CEO, mentioned, "This award signifies our Long-term relationship with FMCG customers and testimony of our efficient integrated logistics services and capabilities. I am happy to mention that this new order would help us to achieve FY24 revenue target and overall performance of the company in years to come. This order is expected to commence from Q3FY24."

Shares of AVG Logistics Limited was last trading in BSE at Rs. 295.90 as compared to the previous close of Rs. 273.70. The total number of shares traded during the day was 55786 in over 2456 trades.

The stock hit an intraday high of Rs. 299.10 and intraday low of 264.80. The net turnover during the day was Rs. 16160869.00.

Source : Equity Bulls

Keywords

AVGLogistics INE680Z01018 OrderWin FMCG MNC