Chartered Logistics is buzzing in trade. In an interview to CNBC-TV18, Harsh Gandhi, ED of Chartered Logistics spoke about latest happenings in the company as well as about impact of goods and services tax (GST) on the sector.
GST transition has been unstable so far. Many dispatches are on hold which will put some pressure on figures, he said.
He expects 5-10 percent revenue growth in FY18 as the disruption in the market will continue for some time. That is putting a lot of pressure on logistics companies, he added.
Current debt on the company is Rs 42 crore and it is trying to bring it down to Rs 35 crore by the year end, said Gandhi.
Company has received letter of intent (LOI) from Tata Chemicals regarding warehousing and packaging plant, which would be its first expansion in warehousing space.
Also, fresh order from Oil and Natural Gas Corporation (ONGC) is on the books, he mentioned.Watch accompanying video for more...