BLT Logistics  IPO GMP & Subscription status

Core Business & Overview

• Incorporated: 6 September 2011, Delhi, India (CIN U63000DL2011PLC224622)
• Nature of business: Support services to organizations—logistics, trucking, warehouse, project cargo, packers & movers
• Fleet & network: Over 100 vehicles (around 88 containerized, plus 15%+ third‑party), serving clients across India

• Service mix: Offers full truckload (FTL) and less-than-truckload (LTL), project cargo, warehouse, packers & movers, transportation for electronics, FMCG, retail sectors
• Technology & safety infrastructure: Telematics and GPS-enabled tracking, 24×7 control room, driver background checks and defensive training programs, in‑house workshops for preventive maintenance. Risk route‑mapping for men, material, machines ensures operational safety

Strengths

1. High customer retention: Maintains a ~98% client retention over 13+ years—a testament to service quality and reliability
2. Technology‑driven operations: GPS and telematics, real‑time tracking, MIS reporting, and proactive fleet maintenance help manage cost, efficiency, and security
3. Scalable & diversified service portfolio: Mix of owned and leased fleet, varied truck sizes, pan‑India reach and multi‑sector clientele enable adaptability to different logistics needs

Potential Risks

• Financial leverage: Carried open charges totalling ₹15.88 crore over several lenders (HDFC, Axis Bank, Yes Bank, etc.) as of late 2024—indicating borrowing dependency
• Limited scale & capitalization: Small paid-up capital (~₹3.5 Cr) and only 13 employees reported; may constrain ability to scale or take on large institutional contracts

Competitive market & client concentration risk: Operating in a highly competitive logistics sector in India; risk amplified if servicing a narrow client base or sector concentration (exact client mix not publicly detailed).

Financial Performance Overview (₹ in Crore)

Revenue

• The company’s revenue grew 48.2% from FY22 to FY23 (₹20.94 Cr → ₹31.03 Cr), and 30% from FY23 to FY24 (₹31.03 Cr → ₹40.34 Cr).
• This indicates strong business expansion and higher demand for its logistics services.

Profit

• Profit surged from just ₹0.14 Cr in FY22 to ₹1.35 Cr in FY23—almost 9.6x growth.
• In FY24, profit further increased to ₹3.13 Cr, showing strong cost control and improved margins.

Asset

• Total assets rose steadily from ₹10.33 Cr in FY22 to ₹21.32 Cr in FY24—more than double in 2 years.
• This reflects investments in trucks, warehousing, or expansion-related infrastructure.

✅ Pros:

• Strong revenue and profit growth over the last three years.
• High customer retention (~98%) shows service reliability.
• Tech-enabled logistics operations with GPS and MIS reporting.
• Proceeds to be used for asset expansion and working capital.

❌ Cons:

• Small-scale company compared to major logistics players.
• High dependency on borrowed capital; financial leverage risk.
• Operates in a highly competitive and price-sensitive market.
• Limited public information about client concentration or contracts.