Small Cap Logistic Stock Under Rs 60 In Focus On Reaffirmation of Credit Ratings

The BSE-listed multinational logistics company Tiger Logistics (India) said on Monday that Infomerics Valuation and Rating Private Limited (IVR) has maintained the company's credit ratings. As a result, investors will probably be closely watching Tiger Logistics (India) shares in the upcoming sessions. The fact that the outlook has been improved from "Negative" to "Stable" indicates Tiger Logistics' significant improvement in financial performance in Q1 FY25. This improvement has been fuelled by a noteworthy rise in the volume of containers handled year over year, which boosted total revenue and profitability.

Tiger Logistics (India) said this recognition underscores its strong financial health, strategic market position, and promising trajectory for growth.

The company said in a stock exchange filing that Long-term Bank Facilities (Cash Credit) of Rs 28.00 Crores have been reaffirmed by Infomerics Valuation and Rating Private Limited (IVR) with a rating of IVR BBB+/ Stable (IVR Triple B Plus with Stable Outlook) which has been upgraded from negative to stable whereas Short-term Bank Facilities of Rs 1.60 Crores continue to hold the rating of IVR A2 (IVR A Two). As per a regulatory filing Long/Short Term Bank Facilities (Proposed) of Rs 2.40 Crores of Tiger Logistics (India) have been reaffirmed at IVR BBB+/ Stable and IVR A2.

Mr. Harpreet Singh Malhotra, CMD of Tiger Logistics (India) Limited, proudly acknowledged this remarkable achievement, and said, "We are delighted to share that the company has achieved a significant milestone with the reaffirmation of our credit ratings, along with an improved Stable outlook. This underscores the company's financial resilience, robust operational capabilities, and ability to meet future challenges with confidence. As the logistics industry continues to evolve, we remain committed to delivering high-quality services, strengthening its market leadership, and achieving sustainable growth."

He further added "We are focused on expanding our market footprint and enhancing our services, supported by our asset-light model and strong liquidity. The trust of our shareholders and partners motivates us to continuously innovate and excel. Together, we remain committed to maintaining our growth momentum and delivering sustainable value to all stakeholders. Thank you for your unwavering support as we shape a bright future together."

In June 2024, the company's revenue climbed to Rs. 101.16 crore, up from Rs. 42.02 crore in the June 2023 quarter. This is a notable jump of 140.74%. Due to a drop in overall operating income in FY24, the firm's EBITDA decreased from Rs. 26.36 crore in FY23 to Rs. 15.36 crore in FY24. Despite this, the company was still able to retain its operating margin and profitability margins at 6.39% (PY: 6.08%) and 5.31% (PY5.27%). Tiger Logistics India Limited had a Rs. 0.22 crore repayment obligation in FY24 compared to a GCA of Rs. 13.70 crore. As of March 31, 2024, the corporation had a current ratio of 4.50x. As of March 31, 2024, the free cash and cash equivalent was Rs. 41.75 crore.

Tiger Logistics India Limited is a prominent worldwide logistics firm and solutions provider, listed on the Bombay Stock Exchange. Its services include transportation, customs clearance, defence and project logistics, and air and ocean freight forwarding. The firm provides services for supply chain consultancy and logistics, cold chain logistics, warehousing, distribution, customs clearance/brokerage, air and ocean freight forwarding, project logistics, and trade compliance. The organisation is headquartered in Delhi and has offices in Kolkata, Jaipur, Mundra, Ahmedabad, Pune, Chennai, Kutch, Ludhiana, Kolkata, Veraval, etc.