Another flat results with margin slightly going down and net WC days going up.
Management comments :
Pune sorting center is on track for completion by the end of March 2024. This strategic move is expected to significantly reduce downtime, streamlining processes and improve overall operational efficiency.
In short, We may have to wait for more quarters for the stock to move up. Price hikes may not be that easy as competitors like Delhivery is trying to pass on benefits to customers in the form of discounts as they scale their operations. Delhivery posted their first profit with 5000 cr in their balance sheet.
Source for the snaps :q3 fy24 investor presentation.
Disclosure : Invested
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