Gati rose 3.26% to Rs 205.85 at 11:45 IST on BSE after consolidated net profit jumped 50.65% to Rs 6.93 crore on 13.07% growth in total income to Rs 414.91 crore in the quarter ended September 2014 over the quarter ended September 2013.
The result was announced after market hours yesterday, 29 October 2014.
Meanwhile, the S&P BSE Sensex was up 165.74 points or 0.61% at 27,263.91
On BSE, so far 2.63 lakh shares were traded in the counter as against average daily volume of 2.51 lakh shares in the past one quarter.
The stock hit a high of Rs 212.30 and a low of Rs 203.90 so far during the day. The stock had hit a 52-week high of Rs 212.50 on Wednesday, 29 October 2014. The stock had hit a 52-week low of Rs 26.50 on 29 October 2013.
The stock had outperformed the market over the past one month till 29 October 2014, rising 13.65% compared with 1.88% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 76.42% as against Sensex's 4.26% rise.
The small-cap company has equity capital of Rs 17.45 crore. Face value per share is Rs 2.
Gati said that the company's cold chain arm, Gati Kausar India, raised Rs 150 crore from funds managed by Mandala Capital. Mandala Capital manages private equity (PE) funds that invest in companies focused on the agribusiness sector within the Indian subcontinent.
Out of the Rs 150 crore, Rs 30 crore has been invested in the form of equity shares and Compulsory Convertible Preferential shares (CCPS) and the remaining Rs 120 crore shall be invested in the form of Non-Convertible Bonds (NCB), Gati said.
The funds raised by Gati Kausar will be utilised primarily for building a network of cold warehouses across the country over the next three years thus enabling the company to offer integrated cold chain logistics and supply chain management, as well as value added services. Gati Kausar already transports refrigerated goods across verticals such as healthcare, meat & poultry, bio-pharma, frozen & fresh produce, dairy products, organised retail and quick service restaurants. With an existing fleet size of approximately 200 vehicles, Gati Kausar intends to build synergies for its clients by offering both reefer storage and transportation under one roof the company said.
Commenting on the PE investment, Mr. Mahendra Agarwal, Founder & CEO said, The investment in Gati Kausar will give us the impetus to position ourselves as the end-to-end solution provider for the cold chain industry. We are confident that with the expansion in the cold warehouses across the country in the next 3 years, we will emerge leaders in this sector too."
Gati, a pioneer and leader in Express Distribution and Supply Chain Solutions in India, delivers over 6 million packages per month. Having started as a cargo management company in 1989, Gati has grown into an organization with more than 4,000 business partners and a network reach of 667 out of total 671 districts in India. Gati has over 4500 vehicles on the road excluding their fleet of refrigerated vehicles, container shipping vessels and world class warehousing facilities across India. Furthermore, Gati has a market presence in the Asia Pacific region and SAARC countries. Gati has offices in India, Singapore, Hong Kong, China, Nepal and Thailand.
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