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vishal.sahay
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Joined: 29/Oct/2006
Location: India
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   Posted: 12/Jun/2007 at 10:54pm |
| News Subject: |
Sical Logistics - Outcome of Board Meeting
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Sical Logistics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 12, 2007, has transacted the following:
1. Decided to issue equity shares on preferential basis under private placement basis
not exceeding Rs 103 crores to the following select group of investors:
a. M/s. Credit Suisse Singapore Ltd : 20,50,000 - No of Equity Shares
b. M/s. Macquarie Bank Ltd : 20,50,000 - No of Equity Shares
2. To convene an Extra-ordinary General Meeting of the equity shareholders on July 09, 2007 to seek their approval for the issue of equity shares on preferential basis. | .....................................................................................................................
All those ppl who didnt have any faith in the management or the business model of the company should now once again reconsider their decision about this investing,if all these big players are willing to go for prferntial allotment their must be some point in the business of the company and also in the management about leading and executing those projects. Though the company is still at a very nascent stage and yet to prove but once the growth starts kicking in the growth in the tsock price could be exponential.
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Vishal
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vishal.sahay
Senior Member
Joined: 29/Oct/2006
Location: India
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Posts: 205
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Posted: 16/Jun/2007 at 11:37am |
| New order to add Rs 120-130 cr to topline: Sical |
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< ="http://202.87.40.52/promos/sponsor_news.js">
Sical Logistics has bagged an order from ONGC to operate 17 vessels.
 Karthik Menon, VP-Finance of Sical Logistics, said the current agreement with ONGC was for 15 vessels over the past four years. "With the new tender, we now have a 17 vessels contract which will add Rs 120-130 crore to our topline for the next three years, excluding the two extensions of six months each," he added.
For 2008, the company is looking at a topline of Rs 600 crore. "Before the exit of the logistic business, we did about Rs 900 crore. With the exit, we hope to be in region of Rs 500-600 crore” he added.
The company has a lot of plans for which capital is needed. "We did an FCCB fund raising equity exercise in April 2006 for about USD 50 million. We also raised USD 26 million in private equity from IDFC, which came in April," Menon said. At present, they are evaluating the second round of funding of USD 25 million.
Sical Logistics is in the process of building a new container terminal in Chennai, which has a gestation period of 24-30 months. "The other project is the container freight station, which we are building in Nagpur. For that we have 80% land in our possession," he said. It intends to buy two rakes for its freight train operations for which the inspection and R&D is on, Menon said.
The company has raised close to Rs 89 crore by exiting the palm oil and real estate asset business. |
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Vishal
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tyler_durden
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Joined: 24/Oct/2006
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Posted: 22/Jun/2007 at 6:59pm |
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lot of people refer gati in logistics space...i was looking after logistics in maruti's warehouse...and we feel gati ki durgati ho gayi hai...their service is pathetic.......
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If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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vishal.sahay
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Posted: 22/Jun/2007 at 8:50pm |
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sp tulsian is promoting Gati a lot but i will continue to ride logistic sector with Sical logistics and Gateway Distiparks
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Vishal
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tyler_durden
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Joined: 24/Oct/2006
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Posted: 22/Jun/2007 at 9:09pm |
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yea sical and aegis are much better bets..aegis was hammered a bit but i found it more compelling than sical based upon their cmp...Basant ji do you think one of these will become a multibagger given the way logistics sphere will shape up in next few years...
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If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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vijinat
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Joined: 18/Sep/2006
Location: India
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Posted: 22/Jun/2007 at 10:11pm |
Originally posted by tyler_durden
yea sical and aegis are much better bets..aegis was hammered a bit but i found it more compelling than sical based upon their cmp...Basant ji do you think one of these will become a multibagger
given the way logistics sphere will shape up in next few years... |
Aegis is a favourite of Ramesh Damani. At least for the last one year he has been recommending this stock, though during this period it was swinging like hell to the delight of the traders.
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basant
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Posted: 22/Jun/2007 at 10:36pm |
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I have no idea on these companies really.
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vishal.sahay
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Posted: 22/Jun/2007 at 10:39pm |
The way Sical has restructured its business i get more and more confidence about. But as I say it is still early days the company is still at very nascent stage it is yet to prove its project execution and handling capabilties. Having said it is direct paly on Indian consumption story.
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Vishal
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