Allcargo Logistics’ Turnaround In Gati May Unlock Value: ICICI Securities
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ICICI Securities Report
Allcargo Logistics Ltd.’s Q3 FY21 result missed expectations.
Management has reiterated its intent to stay asset-light – with sales of trucks in the Gati express business and sale of crane in the project and equipment business, management is walking the talk.
Warehousing asset sales to Blackstone and corresponding deleveraging (from current net debt of Rs 13 billion), along with operational turnaround in express logistics business (Gati) remain the key near term monitorable.
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