Accuracy Shipping Ltd
NSE:ACCURACY
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Accuracy Shipping Ltd
Accuracy Shipping Ltd. engages in the provision of logistic services. The firm offers customized and end-to-end logistics solutions and services, including transportation, distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing and value-added services. The firm's segments include logistics service provider and petroleum. The company operates approximately 14 Indian branches. The firm provide air freight services, such as import customs, brokerage, insurance, consolidations, packing and logistics. The company provides and move the air freight shipments to both domestic and international destinations. The company offers ocean freight forwarding services, such as door to door pick up, advance tracking technology and managing shipping documents. The company also offers custom clearance services, which includes import customs clearance and export customs clearance.
Accuracy Shipping Ltd. engages in the provision of logistic services. The firm offers customized and end-to-end logistics solutions and services, including transportation, distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing and value-added services. The firm's segments include logistics service provider and petroleum. The company operates approximately 14 Indian branches. The firm provide air freight services, such as import customs, brokerage, insurance, consolidations, packing and logistics. The company provides and move the air freight shipments to both domestic and international destinations. The company offers ocean freight forwarding services, such as door to door pick up, advance tracking technology and managing shipping documents. The company also offers custom clearance services, which includes import customs clearance and export customs clearance.
Revenue Decline: Q2 consolidated revenue from operations was INR 2007 crore, down from INR 2038 crore due to weak global demand.
Margin Pressure: Gross profit and EBITDA both dropped significantly year-over-year, with gross margin at 5.3% and EBITDA at INR 2.4 crore for Q2.
Freight Rate Impact: Management highlighted a sharp decline in global freight rates, severely impacting profitability and negotiating power.
Diversification Benefits: The sale of heavy commercial vehicles and spare parts now contributes 31% of revenue, helping offset core logistics weakness.
Guidance: FY24 revenue is guided at around INR 700 crore with expected EBITDA margin of 2.5% to 3%.
Debt Update: Total debt stands at INR 98 crore, with plans to reduce 80-85% by March 2027 via installment repayments.
