Pirojshaw (Phil) Sarkari, the chief executive officer of Gati, commented on the findings, saying, “The company has generated a revenue of ₹1,469 crores for the express business in FY23, experiencing an increase of 18% as compared to the past year. The company’s emphasis on volume expansion and operational effectiveness is reflected in this result. In addition to hubs in Nagpur and Guwahati, GATI launched its massive surface transhipment hub at Bhiwandi (Mumbai) this year. The 1.15 lac square-foot Mumbai hub has 61 bays and a dock leveller. Additionally, we saw complete adoption of digital e-documents for retail clients and have begun a pilot programme for MSMEs. The increase in gross margin is still on pace, with a 133-bps gain over the previous year. We’ll be establishing four surface transhipment hubs in Bengaluru, Hyderabad, Indore, and Kolkata throughout the following phase of infrastructure development.
In order to continue the process of acquiring customers and amplifying infrastructure, we expect to see an increase in our performance in the upcoming quarters. In the upcoming years, the management plans to open five more hubs that will help increase volumes through increased automation, a better load factor, and more productivity per person. We are still dedicated to our ESG path and hope to have all of our delivery cars converted to electric or alternative fuel by 2025. During the year, we achieved the milestone of plying 100+ electric vehicles (EVs) across India. We also signed an MOU with Gentari Mobility (Petronas Group) for 500 EVs under the VaaS (Vehicle as a Service) model.”
Financial Highlights for Express Business: Q4 FY23 and FY23
|Particulars (in ₹ Crs)||Q4FY23||Q4FY22||Y-o-Y||FY23||FY22||Y-o-Y|
|Profit Before Tax (PBT)*||-10||-6||NM||2||-8||NM|
For Q4FY23, Fuel stations revenue grew by 8.7% Y-o-Y, for FY23 the growth stood at 11.5% Y-o-Y.