Hot Pursuit     28-May-24
TVS Supply Chain records turnaround Q4 numbers
TVS Supply Chain Solutions reported consolidated net profit of Rs 5.38 crore in Q4 FY24 as against a net loss of Rs 12.35 crore posted in corresponding quarter last year.
Revenue from operations increased 4.50% to Rs 2,426.31 crore in Q4 FY24 as compared with Rs 2,321.61 crore in Q4 FY23. The normalization of freight rates and continuous growth in the ISCS segment have helped achieve this topline growth.

Profit before tax was at Rs 4.94 crore in Q4 FY24 as against a loss before tax of Rs 16.51 crore in the corresponding period last year.

Adjusted EBITDA stood at Rs 174.5 crore in Q4 FY24, registering the growth of 2.2% as compared with Rs 170.8 crore in Q4 FY23. Adjusted EBITDA margin stood at 7.2% in Q4 FY24 as against 7.4% in Q4 FY23.

Revenue from Integrated Supply Chain Solutions segment (ISCS) was Rs 1,379.5 crore, up 9.9% YoY from Rs 1,255.2 crore in Q4 FY23. This growth was driven through a combination of new customer additions, encirclement (additional wallet share with existing customers) and through continued diversification of sectoral base of customers.

In the Network Solutions (NS) segment, revenue was Rs 1,046.8 crore, up 10.2% QoQ from Rs 949.8 crore in Q4 FY23 and down 1.8% YoY from Rs 1,066.4 crore in Q4 FY23, reflecting a relative stabilization of the global freight markets and growth in the Integrated Final Mile business

On a full year basis, consolidated net loss stood at Rs 57.72 as against net profit of Rs 47.65 crore in FY24 over FY23. Revenue from operations fell 7.94% to Rs 9,199.98 crore as compared to Rs 9,994.38 crore in FY24 over FY23.

Ravi Viswanathan, managing director of TVS Supply Chain Solutions, said, “The quarterly and annual results reflect the consistent growth in the ISCS segment and strong resilience despite major headwinds in the NS segment. We have made considerable progress in our cross selling and customer acquisition strategy and significantly expanded our footprint within the Fortune 500 customers segment. Our technology led solutions are differentiating us in the marketplace as we embark on deploying AI at scale in our customer engagements across the USA, Europe and India.”

He further added, “We are continuously strengthening our organization with process and technology to capitalize on growth opportunities and remain confident of our healthy business development pipeline which will give further growth in FY25.”

Ravi Prakash Bhagavathula, global CFO of TVS Supply Chain Solutions, said, “Our financial performance for Q4 FY24 is a result of the continuous cost optimisation, digitisation and operational efficiency measure which has driven the margin expansion by 80 bps and realization of the full benefits of the debt reduction efforts of the company. These measures have laid the essential foundation as we pursue our medium term goals.”

TVS Supply Chain Solutions is an India-based multinational company, who pioneered the development of the supply chain solutions market in India. The company's customers span across numerous industries such as automotive, industrial, consumer, tech and tech infra, rail and utilities, and healthcare.

The scrip rose 0.08% to currently trade at Rs 178.05 on the BSE.

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