Allcargo Global Logistics was locked at upper limit of 5% at Rs 490.85 on BSE,on 12th Nov'08, extending gains for the eighth trading session in a row, on reports it is adequately funded and is not expecting any slowdown due to the global financial crisis.
The stock had a 52-week high of Rs 1028.95 on 19 November 2007 and a 52-week low of Rs 271.85 on 31 October 2008.
The the stock is up 77.87% from a recent low of Rs 275.95 on 31 October 2008. The strong rebound came after a steep fall caused by the company's decision, on 25 October 2008, to defer the sub-division of face value of equity shares due to uncertain market conditions. From Rs 718.90 on 22 October 2008, the stock had plunged 61.62% in just six trading sessions to Rs 275.95 on 31 October 2008.
The mid-cap logistic service provider has an equity capital of Rs 22.36 crore. Face value per share is Rs 10.
The current price of Rs 490.85 discounts its Q3 September 2008 annualised EPS of Rs 46.51, by a PE multiple of 10.55.
On 4 November 2008, Allcargo Global's chief financial officer had told in a television interview that the company was adequately funded and was not expecting any slowdown due to the global financial crisis.
The company had acquired 53 cranes and expects revenues to trickle in from the third quarter of the current fiscal, he said. The company is also looking for acquisitons overseas and plans to finalise them if the pricing is good, he further added.
Allcargo Global Logistics' net profit spurted 129.3% to Rs 26 crore on a 76.7% rise in sales to Rs 138.61 crore in Q3 September 2008 over Q3 September 2007.
Allcargo provides logistics service in India. Its present operations are in five key areas of the logistics business: multi-modal transport operations, container freight stations, project cargo handling, airfreight and transport logistics.
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