Image Source: Business Standard
WCIL (India) Ltd, one of Kolkata's major logistics and supply chain majors, has bagged a huge ₹230 million order further enhancing its time-tested business connection with Vedanta Ltd and bolstering its leadership in India's logistics segment. The recent win is following numerous significant contract additions for WCIL, establishing it as the powerhouse company driving aggressive growth on all fronts, based on impeccable performance standards.
Major Order Win:
Western Carriers has acquired an order of ₹230 million, which enhances its strong lineup of logistics deals with high-quality industrial customers. This order fits WCIL's initiative to augment its presence within the mining and minerals industry with continued material handling and logistics contract assignments with Vedanta.
Scope of the Contract
The new agreement is for end-to-end material handling services, among which are management of import, finished goods, domestic, and export consignments at Vedanta's Jharsuguda facility. The four-year agreement encompasses multi-modal logistics solution-rail, road, sea, and air-providing hassle-free transportation of goods among major domestic and export centers.
Enhancing Strategic Relationships
CEO Kanishka Sethia added that the order "strengthen our relationship with Vedanta and open doors to future projects in the mining and mineral business," highlighting WCIL's track record of reliability and efficiency.
Financial Performance and Growth:
As of March 31, 2024, WCIL posted sales of ₹1,685 crore, an increase of almost 3% year-over-year, and net profit of ₹80.35 crore, a 12% growth from the previous year. The recent IPO of the company in September 2024 raised ₹492 crore, bolstering its growth and operational capabilities.
Market Impact:
Major order wins news has always been the biggest driver of WCIL's stock price, with the stock rising as high as 13.5% following past contract announcements. The firm keeps on adding marquee clients like Tata Steel, Hindalco, HUL, and Coca-Cola India, which reaffirms its diversified and secure business model.
Industry Leadership:
Western Carriers has more than 50 branch offices and 16 warehouses in India, handling over 55 big public rake handling points. Its pan-India reach and emphasis on integrated, technology-based logistics solutions have earned it the reputation as a go-to partner for some of India's biggest companies.
"This order reaffirms our position as leaders in integrated logistics and opens doors to new growth opportunities in the mining and minerals space," said CEO Kanishka Sethia.
With this recent order, Western Carriers (India) Ltd is set to continue its growth path, with its experience and growing network bringing value to clients and shareholders as well.
Source: Economic Times, CNBC TV18, Times of India, Business Standard, ITLN
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