AllCargo Logistics mads two announcements
a. Issuance of Bonus Shares: The company’s board has approved the issuance of three bonus shares for each share held by shareholders. This decision aims to increase liquidity and allow more shareholders to participate in the company. It will also support their strategic restructuring plans. Importantly, this will utilize less than 15% of the company’s available reserves. This move follows a recent demerger of two businesses.
b. Financial Results: Apart from reporting financial results, company have been performing well in recent years, despite the recent acquisition of minority shares in Gati Express Supply Chain and Allcargo Supply Chain. The company has taken steps to reduce its debt and has exited non-core businesses. They are now focusing on an asset-light approach and digital strategy for future growth. Although there have been challenges in recent quarters due to the macroeconomic environment, the company believes that its strong balance sheet will support future growth.
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