TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, today announced its consolidated unaudited financial results for the fourth quarter and full year ended 31st March 2024. The Company reported Profit After Tax of Rs. 5.40 Cr for the quarter ended 31-March-2024 as against the loss of Rs. 9.4 Cr in Q4 FY 23.
ISCS segment with quarterly revenue of Rs. 1379.5 Cr continued its growth trajectory with 8.4% QoQ growth and 9.9% YoY. This growth was driven through a combination of new customer additions, encirclement (additional wallet share with existing customers) and through continued diversification of sectoral base of customers. During the quarter, key new business wins included an Indian OEM in Commercial Vehicle space, a Defence Contractor in the UK and a leading Water utility services company in the UK. EBITDA margin for ISCS in the current quarter was 9.6% an YoY increase of 40 bps.
For Q4 FY 24, on a consolidated basis revenue stood at Rs. 2426.3 Cr reflecting 9.2% growth on Q-o-Q and 4.5% growth on Y-o-Y basis. The normalization of freight rates and continuous growth in the ISCS segment have helped achieve this topline growth.
For the full year, the consolidated revenue was at Rs. 9200 Cr which was lower by Rs. 794 Cr., compared to that of FY 23 mainly due to global trade cycle challenges in NS segment which was compensated by additional business from ISCS segment. The adjusted EBITDA increased to Rs. 710.2 cr, a growth of 3.7%. While the operating margins improved, the company reported loss after tax (before exceptional items) for the year at Rs. 31.3 Cr compared to profit (before exceptional items) of Rs. 57.7 Cr in the previous year, mostly driven by the effect of very high interest costs in the first two quarters. The company returned to profit in Q3 with its turnaround performance through consistent growth in ISCS segment and the Network Solutions reflected stability in Q4. It also reduced debt to the tune of Rs. 1,195 cr.
