As part of its exercise to restructure the P&E segment, Allcargo transferred similar businesses to its joint venture company Avvashya CCI Logistics Pvt Ltd. Allcargo is part of the Avvashya Group owned by founder and Chairman Shashi Kiran Shetty.
In an interview to CNBC-TV18, Prakash Tulsiani, COO of Allcargo Logistics said that the current growth rate is in the range of 5-6 percent.
As logistics industry is export-oriented, incentives should be provided accordingly so that companies can set up shop on the dedicated rail freight corridor wherever industrial parks are planned to be set up, says Prakash Tulsiani, ED & COO of Allcargo Logistics
Prakash Tulsiani, MD, Gujarat Pipavav, said the capacity increase is in line with the company‘s earlier guidance and they will utilise internal accruals before drawing out IFC‘s loan.
Gujarat Pipavav's fourth quarter net profit more than doubled to Rs 77 crore during October-December period against Rs 36 crore on a year-on-year basis.
Though 70% of the company's topline is dollar denominated, rupee depreciation helped it clock only 2 or 3 percentage points gain.
Inorder to ensure growth, the firm has upgraded infrastructure to carry double-stack high-cube containers. This step will help it reduce transportation cost and enhance operational capacity.
After it posted an EBITDA margin of 48 percent, Gujarat Pipavav is now gearing up for its expansion plans. Prakash Tulsiani, managing director, Gujarat Pipavav says they will borrow capital worth Rs 1000 crore from external commercial borrowings (ECB).
Pipavav port is seeing a turnaround thanks to some smart decisions and some serendipity.