Sical Logistics Ltd, India’s leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, today announced that un-audited consolidated net profit for the second fiscal quarter ended 30 September 2007 was Rs 18.94 crore, up by 115% from Rs 8.79 crore a year ago, while profit before tax was Rs 18.94 crore, up by 54% from Rs 12.27 crore a year ago. Consolidated Q2 net sales were Rs 264 crore, down by 2% from Rs 269.52 crore a year ago.

The EBITDA of Sical’s core business of logistics was Rs 28.33 crore, up by 61% from Rs. 17.57 crore a year ago. Un-audited Q2 profit before interest, depreciation, and taxes (EBIDTA) including discontinuing operations was Rs 31.97 crores, up by 20% from Rs 26.71 crores a year ago, on Q2 sales of Rs 264 crores.

Comment by Mr. Sudhir Rangnekar, Group CEO and MD of Sical

“The second quarter results are broadly in line with our internal targets. During this quarter, we signed the Sical Road Terminal agreement at Nagpur with MADC and the Rail Terminal agreement is also expected to be signed shortly. Our container rail operations are expected to commence by December 2007, for which the rolling stock will be received next month. The Sical Iron Ore Terminal project is expected to commence from next quarter after financial closure. We maintained our leadership in container logistics, with steady growth in volumes at the Chennai, Vizag & Tuticorin ports. The success of the quarter was further highlighted by our winning the coveted “Best Bulk Logistics Provider” award at the Express, Logistics and Supply Chain Conclave in Mumbai.” said Sudhir Rangnekar, Group CEO & MD, Sical.

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About Sical

Sical Logistics Ltd is India’s leading integrated multi-modal bulk and containerized logistics solutions provider handling around 22mn tones of bulk cargo as well as over 5,00,000 TEUs of containerized cargo. Headquartered in Chennai in the south of India, Sical formerly South India Corporation Agencies Limited) is listed on the Mumbai Stock Exchange and the National Stock Exchange.

The services of the company are segmented as:

· Bulk logistics- Stevedoring/ Port terminals/ Customs and agency services/Trucking/ Rail Road and Warehousing

· Container logistics – Box terminals/ ICDS and CFS

· Offshore logistics - Owning PSV / Dredging

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 4.5 lakh square feet of storage across over 100 warehouses; owned and regularly contracted fleet of over 2500 transport vehicles, and container freight stations at 3 locations across India. Sical's FY2006-07 revenue was Rs 9.90 billion on Rs 301.9 million equity capital.