logistics solutions provider, Sical Logistics Ltd (SLL) has recorded Rs 11.61
crore standalone profit for the June ended 2017 quarter against the standalone
profit of Rs 10.17 crore logged during June ended 2016 quarter (Year On Year).
Standalone total Income for quarter under review jumped to Rs 215.70 crore
vis-à-vis standalone total income of Rs 184.15 crore registered during the year
ago period. During Year on Year period, standalone total expenses rose to Rs
197.96 crore versus Rs 168.63 crore, says a release on 2nd August.
has acquired Patchems Private Ltd on 28th June 2017 and a Share
Purchase Agreement has signed between company and PNX Logistics Pvt Ltd on 24th July
2017. PNX is a Mumbai based integrated logistics company providing full truck
load, less then truck load, surface express, warehousing and third party
logistic services. These two companies will be considered as subsidiaries
of the company effective Q2 FY 2017-18 and accordingly their financials will be
consolidated from Q2FY2017-18 onwards. The company has provided the
dredger belonging to its subsidiary and the spares and machinery held by the
company as security for the 11% redeemable non-convertible debentures of Rs 100
crore issued to IDFC Bank Ltd on a private placement basis on 27th June
2016 and the asset cover is 1.1 times as on 30th June 2017.
Multimodal and Rail Transport Ltd,a subsidiary of Sical has provided 0.6 acres
of land situated at Anupampatti Village, 19.5 acres of land and building
situated there on at Minjur (3) 2k rakes and 1045 containers and (4) pari passu
mortgage charge along with existing charge holder on land(admeasuring around
2.248 acres) at Minjur as security for the 11 per cent secured listed NCDs of
Rs 100 cr issued to RBL Bank Limited on a private placement basis on 31st March
2017 and asset cover is 1.5 times as on 30th June 2017, the
proceeds were utilised for paying off the loan availed by the company from one
of the bankers.