Shreeji Translogistics Ltd. Renews Contract with Singapore Airlines, Company Establishes New Branch in Bhubaneshwar

Navi Mumbai: Shreeji Translogistics Limited (STL) (BSE: 540738), an India-based surface logistics and parcel delivery service provider, has renewed its contract with Singapore Airlines. The company is delighted to announce the successful renewal of contract with Singapore Airlines, a renowned and esteemed airline company. With this renewed contract, STL will further strengthen its collaboration with Singapore Airlines, utilizing their extensive network and resources.

Commenting on the announcement, the Management team of Shreeji Translogistics Limited, stated: "We are pleased to announce the renewal of contract with “Singapore Airlines”, a prominent aviation company. This continuation of partnership showcases the trust and confidence placed in us by Singapore Airlines for delivering high quality services, maintaining compliance with international customs regulations and unwavering commitment to providing highly customer-centric and value-added services.

As we embark on this renewed contract, we are excited about the opportunities it brings for mutual growth and success. We remain dedicated to exceeding client expectations and upholding our reputation as a distinguished and leading provider of custom bonded trucking services.”

The company has also announced opening of its new branch in Bhubaneshwar, Odisha. The new branch in Bhubaneshwar represents STL's commitment to enhance its presence in the eastern region of India. With its well-established network and expertise in the logistics industry, the company aims to cater to the increasing demand for reliable and efficient transportation and supply chain solutions in the region. This strategic expansion marks an important milestone in the company's growth and will provide significant benefits to the business and its customers.

In FY23, the company reported revenue of operations at Rs. 200.88 Cr (FY23), a 20.58% Growth YoY. The EBITDA jumped 20.93% YoY, from Rs. 17.09 Cr (FY22) to Rs. 20.67 Cr (FY23). PAT came in at Rs. 10.86 Cr (FY23), a 19.51% growth YoY. For Q4FY23, the company reported revenues at Rs. 54.28 Cr (Q4FY23), a 19.92% growth YoY. The EBITDA was reported at Rs. 4.91 Cr (Q4FY23).

Shreeji Translogistics Limited (STL) (BSE: 540738) was incorporated in 1984, headquartered in Vashi, Navi Mumbai. The Company is engaged in freight management, logistic solutions, and warehousing services. It caters a range of logistical requirements from Over Dimensional Cargo (ODC) movement to bonded trucking movements. The Company's platform trucks are mainly used for import-export containers and also for transportation of heavy-duty goods like automotive parts and machineries. It owns and operates a fleet of around 300 owned trucks and more than 4,500 outsourced trucks.