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Kozhikode-based Aghin Roadways, a cargo fleet operator, has announced its expansion plans with an investment of ₹180 crore in FY23-24. The company, with more than 1,000 trucks on road, is part of the multi-diversified Team Thai group with interests in FMCG, automobiles, tourism and real estate.
PC Thahir, Managing Director, Aghin Roadways, said the plans also involve expansion to the northern part of the country. “Presently, 50 per cent of our business is from the south Indian states of Tamil Nadu, Andhra Pradesh, Telangana and Karnataka; in the current year, we want to increase the share of Gujarat, Madhya Pradesh and Maharashtra in the pie,” he said.
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The company has halted its acquisition-driven growth strategy for the next 12 months, MD and CEO, Rampraveen Swaminathan, saidAghin Roadways has 16 branches in central and south India. In the current year, the company is opening six more branches — in Jaipur (Rajasthan), Jharsuguda (Odisha), Kolkata (Bengal), Hamirpur (Uttar Pradesh), Panipat (Haryana), and Kotla.
It has finalised the purchase of 300 trucks in FY23-24, with 151 trucks already procured from Ashok Leyland at around ₹90 crore.
The company operates in nine states, handling more than 3 lakh tonnes of cargo every month. The major clients include India Cements, UltraTech, Dalmia , ACC, Ambuja, and GHCL, among others. Post expansion it targets handling 4 lakh tonnes of cargo every month with an annual business of ₹420 crore, as against ₹350 crore last year, said Ashique Thahir, Director, Aghin Roadways.
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Shippers unable to benefit from falling freight rates as export orders from US, Europe slow downCurrently, Aghin employs more than 2,500 personnel and an additional 2,000-odd workforce in other group companies. It plans to recruit around 750 personnel in the current year.
The company sees attractive growth prospects in bulk and individual cargo as it offers reefer, bullet train operations, and so on. It plans to expand to Saudi Arabia and the UAE in the next fiscal, Thahir said.
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