Page 26 - ITLN September - October 2023 for Magzter

News

CEVA expands

India presence,

buys Stellar

Value Chain

Solutions

TVS Supply Chain Solutions

lists on stock exchanges

VS Supply Chain Solutions, promoted supply chain solutions market in India.
Tby TVS Mobility Private, T.S. Rajam For the last 15 years, TVS SCS has
Rubbers, Dhinrama Mobility Solution, managed large and complex supply
and Ramachandhran Dinesh, listed on chains across multiple industries
the stock exchanges after the IPO. in India and select global markets
“The fresh issue will be utilised for through customized tech-enabled
payment of debt availed by the company solutions. The company’s global
and its subsidiaries -- TVS LI UK and customers include 72 ‘Fortune Global EVA Logistics signed an
TVS SCS Singapore -- and for general 500 2021’ companies in the six-month Cagreement to acquire 96
corporate purposes,” reads the release. period ended December 31, 2022. percent of Mumbai-based
Promoted by the erstwhile TVS The Company’s customers span Stellar Value Chain Solutions
Group and now part of TVS Mobility across numerous industries such as from an affiliate of private
Group, TVS Supply Chain Solutions is automotive, industrial, consumer, equity firm Warburg Pincus and
an India-based multinational company, tech and tech infra, rail and utilities, other shareholders.
that pioneered the development of the and healthcare. "Started in 2016 by
Anshuman Singh, Stellar
Value Chain Solutions in India
Delhivery narrows loss after tax 78% YoY, has grown into a key player in
44% QoQ to ₹89 cr in Q1 FY24 contract logistics with omni-
channel fulfilment services in
elhivery reported revenue from the e-commerce, automotive,
Dservices of ₹1,930 crore in Q1 FY24, food products, consumer,
up 11 percent YoY from ₹1,746 crore in Q1 fashion and retail, healthcare
FY23 and up 4 percent sequentially from and pharmaceuticals market
₹1,860 crore in Q4 FY23. segments. Singh will continue
Adjusted EBITDA loss reduced by 89% driving this business following
YoY to ₹25 crore in Q1 FY24 compared to the acquisition," says a release
₹217 crore in Q1 FY23. Loss after Tax in from CEVA.
the same period narrowed by 78% on YoY CEVA will acquire
basis to ₹89 crore in Q1 FY24 from ₹399 approximately 7.7 million
crore in Q1 FY23 and by 44 percent on square feet of space across
QoQ basis from ₹159 crore in Q4 FY23. more than 70 facilities in 21
Express Parcel shipment volumes cities across India. In addition,
grew 19 percent YoY to 182 million in CEVA will inherit the Stellar
Q1 FY24 from 152 million shipments in workforce of nearly 8,000 full-
Q1 FY23. Volumes grew by more than time and temporary employees
2 million shipments over Q4 FY23 as who have strong expertise and
well, despite Q1 traditionally being a relationships in India.
seasonally weak quarter.
24
September - October 2023 www.itln.in