Western Carriers India Lands a Significant Contract

KOLKATA: In a significant boost to its business portfolio, Western Carriers India Ltd (WCIL), a Kolkata-based logistics firm, has announced the acquisition of a material handling contract worth Rs 139 crore from Vedanta Ltd. This deal, revealed on Friday, marks a pivotal moment for WCIL, showcasing its growing influence in the logistics sector.

Details of the Contract

The contract encompasses a comprehensive material handling agreement for Vedanta's Jharsuguda plant, covering import, domestic finished goods, and export material handling. Spanning four years, this agreement not only solidifies the existing partnership between WCIL and Vedanta but also opens new doors for future collaborations within the mining and mineral sector.

Financial Highlights and Future Prospects

Kanishka Sethia, CEO of WCIL, expressed optimism about the deal, stating, "This order strengthens our relationship with Vedanta and opens avenues for future projects within the mining and mineral sector." As of March 31, 2024, WCIL reported a notable increase in sales, reaching Rs 1,685 crore, a nearly 3% rise from the previous year. The company's net profit also saw a significant 12% year-on-year growth, standing at Rs 80.35 crore. Following its maiden IPO in September, where it raised Rs 492 crore, WCIL continues to demonstrate robust financial health and promising growth prospects.