North Eastern Carrying Corporation Secures 5-Year EV Transportation Contract from Tata Steel
North Eastern Carrying Corp. Limited (NECC) has secured a five-year contract from Tata Steel Limited for transporting steel products using electric vehicles. The contract involves transportation from Tata Steel's Khopoli facility to various destinations including Kalamboli, Panvel, and Taloja. NECC emphasizes its commitment to exploring more opportunities in EV logistics, aligning with the trend of adopting environmentally friendly practices in the industry.
28Mar 25
North Eastern Carrying Corp Secures 5-Year EV Logistics Contract from Tata Steel
North Eastern Carrying Corporation Limited (NECC) has secured a five-year contract with Tata Steel Limited for electric vehicle logistics services. The contract involves transporting steel products from Tata Steel's Sahibabad facility using electric heavy vehicles. This marks NECC's entry into sustainable transportation solutions and represents a significant milestone in the company's growth strategy. The contract has a potential one-year extension based on mutual consent.
27Mar 25
North Eastern Carrying Corp Secures Landmark 5-Year EV Logistics Contract with Tata Steel
North Eastern Carrying Corporation Limited (NECC) has secured a significant five-year contract with Tata Steel Limited for EV-based transportation of steel products. The agreement involves using electric heavy vehicles to transport goods from Tata Steel's Sahibabad facility. This marks NECC's entry into the EV logistics sector, aligning with sustainable transportation trends. The contract has potential for a one-year extension and positions NECC as a pioneer in adopting EVs for heavy-duty logistics.
North Eastern Carrying Corporation Ltd (NECC) released Q3 FY25 results showing a 5.2% YoY revenue decline to ₹81.05 crore and a 22.7% drop in net profit to ₹1.94 crore. EPS fell to ₹0.19, the lowest in five quarters. However, the company's debt-equity ratio improved to 0.44 times, reaching a five-period low. Despite weak financials, NECC's stock rose 4% to ₹20.74, suggesting investor focus on improved debt position and recovery potential.