A pioneer in Express Distribution and Supply Chain Management Gati, part of Allcargo Logistics takes on a further round of sale of its non-core properties in the month of December, as part of the company’s asset-light business strategy.
The Managing Director & CEO of Allcargo Gati, Pirojshaw Sarkari says, “We still have a few couple of non-core properties left out for the next month itself.” Pirojshaw didn’t reveal the potential sale amount of the properties.
As component of its business strategy to draw off the company’s non-core properties, in the past five years Gati has carried out divestment of its assets together with the sale of transport vehicles, buildings and land properties, among others in its arm Gati Kausar (GK) Cold Chain Solutions India.
As per the report of ICICI Securities, the company decreased the total debt from March 2022 from Rs. 152 crore to Rs. 73 crore as on March 2023. Also the company Gati plans to sell off its fuel station business, which Sarkari charted, will need approval from the government.
As indicated by the report of Nuvama Wealth and Investment Limited (Edelweiss Broking) dated November 17 specified that the company’s assets seized for sale which are Rs. 81 crore and Gati has received an advance of Rs. 18 crore and is supposed to settle-up the left over assets by the end of March 2024.
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