Ritco Logistics ends Q4 FY24 on a Strong Note

Performance Highlights for Standalone: Q4FY24 vs Q4FY23

- Total Income of Rs 251.88 Crores, growth of 28.03 % y-o-y
- EBITDA of Rs 20.30 Crores, growth of 38.86% y-o-y
- EBITDA growth in absolute terms.
- PAT of Rs. 9.14 Crores, growth of 46.49 % y-o-y
- PAT margin at 3.63%

Performance Highlights for Consolidated: Q4FY24 vs Q4FY23

- Total Income of Rs.251.88 Crores
- EBITDA of Rs.19.81 Crores
- PAT of Rs. 8.65 Crores
- PAT margin at 3.44%

Commenting on the performance, Mr. Manmohan Pal Singh Chadha, Chairman, said: "In the fourth quarter of financial year 2023-24, Ritco Logistics Limited, a trailblazing titan in the realm of logistics and supply chain solutions, is thrilled to unveil its groundbreaking innovations set to revolutionize the industry landscape. With an unwavering commitment to unparalleled efficiency, environmental stewardship, and customer delight, the company stands at the vanguard of pioneering solutions designed to exceed the expectations of the modern world. Against the backdrop of a stable macroeconomic climate, Ritco Logistics Ltd, has consistently delivered exceptional performance, with all business segments yielding results that surpass even the most ambitious projections. While acknowledging the industry-wide challenges posed by inflation, the company maintains a balanced and optimistic outlook.

Amidst the rising interest rate environment and tightening of credit, Ritco Logistics Ltd. remains steadfast in its confidence to achieve its visionary goals of building an integrated multi-modal logistics solutions empire. The bedrock of the company's success lies in its unwavering value system and the indomitable spirit of its people. In the ever-shifting sands of the global landscape, Ritco Logistics Ltd. has emerged as a beacon of excellence, offering an unrivaled array of bespoke logistics services meticulously crafted to cater to businesses of every scale and across every industry. By harnessing the power of cutting-edge technology and fostering an extensive network of strategic partnerships, the company has not only set the bar but has redefined the very meaning of reliability and timely delivery, cementing its position as an undisputed industry leader.

With an insatiable appetite for innovation, Ritco Logistics Ltd. has made substantial investments in stateof-the-art infrastructure, advanced fleet management systems, and a team of unrivaled expertise. By leveraging the power of data analytics and artificial intelligence, the company optimizes routes, minimizes fuel consumption, and reduces its carbon footprint, setting a shining example of environmental responsibility. Moreover, Ritco Logistics Ltd. has forged unbreakable alliances with key players in the global supply chain, enabling seamless integration and unparalleled reach across continents. As the world continues to evolve, Ritco Logistics Ltd. remains at the cutting edge, anticipating and embracing the everchanging demands of the industry, ensuring that its clients receive unmatched service and unwavering support in navigating the labyrinthine complexities of modern logistics. With Ritco Logistics Ltd. as their partner, businesses can rest assured that they are in the hands of a visionary leader, poised to redefine the very fabric of the logistics industry. Ritco is emerging as a fast-growing integrated logistics company of India and now strategically focusing on infrastructure development specially on bulk movement such as Steel, Cement, Coal, Minerals Solar etc. On the back of strong growth outlook, we have invested in the addition of high capacity trailers in our fleet for movement of steel, coal and cement for reputed customers. The objective is to give cost effective long term services to the customers and increase efficiency through controlled operation and all these contracts are long term.

During fourth quarter, Ritco has on-boarded and started rendering services to many strategic clients of steel, coal and cement in East and South. This was the strategic decision of Ritco to enter in Southern part of India in Steel & Coal sector considering the large volume being moved from South to Gujarat sector and East to Gujarat. We expect the strong business growth to continue on the back of new client additions, new geographic expansion and providing higher value added services. With increased scale of business coupled with cost optimization initiatives & moderate inflation outlook, we expect margins to expand in coming times. Given the strong economic outlook of the country & our reputed service ability, we are confident to enhance value for all our stakeholders."

Our EBITDA for the quarter stood at Rs 20.30 crores, a growth of 38.86 % y-o-y with margins of 8.06 %. We expect margins to improve in the coming quarters with an increase in utilization levels. Profit after Tax stood at Rs. 9.14 crores, a growth of 46.49 % y-o-y.

"At Ritco Logistics Ltd, our passionate and dedicated team is relentlessly driven by an unwavering commitment to meticulously crafting bespoke logistics solutions that seamlessly align with our clients' unique needs. We firmly believe that logistics is not merely a support function, but a critical catalyst for business growth and success. Our overarching objective is to consistently surpass expectations, going above and beyond the conventional standards of the industry. We achieve this by delivering services of unparalleled quality, underpinned by a culture of continuous innovation and improvement. Our clients can rely on us to provide a level of logistical excellence that is unmatched in the market.

Moreover, we are excited about the future as we continue to invest in state-of-the-art infrastructure and cutting-edge technology to further enhance our capabilities. Our strategic focus on infrastructure-based logistics solutions enables us to offer our clients even greater efficiency, reliability, and scalability. We are also committed to sustainable growth, ensuring that our expansion is not only economically viable but also environmentally responsible. At Ritco Logistics Ltd., we are not just a logistics provider, but a true partner in our clients' success, helping them navigate the complexities of the modern business landscape with ease and confidence," said Mr. Sanjeev Kumar Elwadhi, CEO & Managing Director of Ritco Logistics Ltd.

Shares of Ritco Logistics Ltd was last trading in BSE at Rs. 256.85 as compared to the previous close of Rs. 254.50. The total number of shares traded during the day was 5493 in over 380 trades.

The stock hit an intraday high of Rs. 261.55 and intraday low of 254.45. The net turnover during the day was Rs. 1412225.00.

Source : Equity Bulls

Keywords

RitcoLogistics INE01EG01016 TransportationLogistics Q4FY24 FY2024 ResultUpdate FY24