About BLT Logistics Limited

BUSINESS OVERVIEW

BLT Logistics Private Limited, incorporated in 2011, is engaged in providing surface transportation of goods in containerized trucks and warehousing services to a diverse range of B2B clients across India. The company operates a consolidated fleet of 121 containerized vehicles (106 under BLT and 15 under its 99.99% subsidiary, Sabarmati Express India Private Limited) with capacities ranging from 3.5MT to 18MT.

Transportation services are supported through a hybrid model involving owned fleets, subsidiary fleets, and third-party operators, ensuring flexibility and scalability in operations. The client base exceeds 200, covering sectors such as electronics, retail, food and confectionery, wholesale trading, and MNCs.

Initially established as a Second-Party Logistics (2PL) provider, the company is now transitioning to a Third-Party Logistics (3PL) model by integrating warehousing services with transportation offerings, enabling more comprehensive and end-to-end logistics solutions.

Key service segments include:

1. Transportation & Allied Services

• Offers pan-India cargo movement, leveraging a mix of FTL (Full Truck Load) and LTL (Less Than Truck Load) models based on consignment size and customer needs.

• Services are managed through a Management Information System (MIS) that enables real-time tracking, inventory reporting, and operational transparency.

• Additional offerings include:

  • Packing and Moving: Covers both residential and commercial relocations, with a focus on secure packaging and damage-free transport.

  • Project Cargo Transportation: Specializes in moving heavy and high-value equipment for large-scale projects with custom planning and secure execution.

2. Warehousing Services

• Initiated in 2023, with facilities located in Gurugram, Thane, Bengaluru, Hooghly, and Ambala.

• Provides a combined storage capacity of approximately 36,300 sq. ft., enabling effective inventory control and transparent warehouse management through MIS.

• Warehouses are strategically positioned to enhance first and last-mile connectivity for client supply chains.

Sabarmati Express India Private Limited, the subsidiary, operates mainly in the B2C distribution segment and also supports BLT’s fleet operations by leasing vehicles from both owned and third-party sources.

The company holds ISO 9001:2015 certification for Quality Management in Transportation and Warehousing Services, indicating a structured and quality-focused operational approach. Logistics services are primarily executed via roadways, with active service delivery across multiple Indian states.

The Company has a total strength of 62 employees (including executive directors) as on March 31, 2025 which looks after the different aspects of the business like finance, secretarial, admin and human resource, operations and driving the vehicles. The Banker to the company is ICICI Bank Limited.

INDUSTRY ANALYSIS

India’s Logistics Sector: A Transformative Journey Towards Global Competitiveness

India’s logistics industry is undergoing a rapid and unprecedented transformation, driven by a mix of global trade realignment, domestic industrial growth, the eCommerce boom, environmental sustainability imperatives, and the accelerated digitization of supply chains. The sector is transitioning from its traditional, fragmented model to a more integrated, technology-driven ecosystem, enabling participation from a diverse set of stakeholders including businesses and individuals alike.

Recognizing its strategic importance, the Government of India has adopted a holistic ‘Whole of Government’ approach to logistics—shifting from a fragmented, sectoral outlook to a data-driven and end-to-end integrated strategy. Major infrastructure reforms like Bharatmala, Sagarmala, Dedicated Freight Corridors, UDAN, and Jal Marg Vikas are being implemented alongside digital and process reforms such as e-SANCHIT, Unified Logistics Interface Platform (ULIP), Logistics Data Bank (LDB), Port Community System, and Sagar Setu. This combined effort has significantly improved logistics efficiency and India's Ease of Doing Business.

The nation’s focus on trade facilitation has also garnered international recognition. According to the UN Global Survey on Digital and Sustainable Trade Facilitation, India has achieved 94% implementation of trade facilitation measures, the highest in South Asia. The World Bank’s Logistics Performance Index (LPI) saw India improve its global rank from 44 in 2018 to 38 in 2023, attributing the gain to infrastructure investments and digital innovations like the LDB.

With the launch of PM GatiShakti (PMGS) and the National Logistics Policy (NLP), 2022, India has laid the groundwork for coordinated infrastructure and logistics development. While PMGS focuses on hard infrastructure and network integration, the NLP addresses soft infrastructure including process reforms, skilling, digitalization, and service quality improvements.

India’s leadership during its G20 presidency further elevated the sector's profile. “Logistics for Trade” was listed among the five key agendas of the Trade and Investment Working Group, culminating in the announcement of the India-Middle East-Europe Economic Corridor (IMEC)—a move that could position India as a hub in global supply chains.

At the sub-national level, States and Union Territories have made significant strides to bolster logistics efficiency by focusing on three critical areas:

1. Infrastructure – Emphasis on first and last-mile connectivity, road quality, and development of cargo hubs, MMLPs, and warehousing facilities.

2. Logistics Services – Expansion of skill development programs through public-private partnerships.

3. Operating Environment – Many States have notified logistics policies and granted ‘Industry’ or ‘Priority Sector’ status to the logistics domain.

States like Maharashtra, Delhi, and Haryana are leading examples of this transformation. Maharashtra, tagged as a “Fast Mover” in the LEADS 2023 report, has invested heavily in infrastructure projects including MMLPs near Nagpur and Wardha, and truck terminals in Pimpri Chinchwad. Delhi, an “Achiever,” has emphasized logistics skill development through partnerships like those with DSEU. Haryana, also an “Achiever,” has executed key road connectivity upgrades and is in the process of developing a comprehensive Logistics Master Plan.

The push towards multimodal integration is further reinforced by the operational framework of PM GatiShakti, which brings together 36 central ministries under the oversight of an Empowered Group of Secretaries (EGoS). Supporting this mechanism are the Network Planning Group (NPG) and Technical Support Unit (TSU)—institutions that drive coordination, evaluation, and implementation of projects.

So far, 81 High Impact Projects, 76 NPG-approved Projects, and 197 Critical Infrastructure Gaps have been identified. Special focus is being given to sectors such as agriculture, coal, food, and steel through last-mile connectivity projects.

Year 2024–25: Milestones in Infrastructure Development

India’s National Highway network has seen a 60% expansion—from 91,287 km in 2014 to 1,46,195 km in 2024. The length of High-Speed Corridors (HSCs) has surged from 93 km to 2,474 km, while 4-lane and above highways (excluding HSCs) increased 2.5 times to reach 45,947 km.

The construction pace of national highways has risen dramatically—from 12.1 km/day in 2014-15 to 33.8 km/day in 2023-24. The total construction reached 12,349 km in FY 2023-24 (second-highest ever), and lane augmentation hit a record 9,642 km.

Furthering this momentum, the Cabinet Committee on Economic Affairs has approved 8 new High-Speed Corridor projects spanning 936 km, worth ₹50,655 crore, estimated to generate 4.42 crore man-days of employment.

Multi-Modal Logistics Parks (MMLPs) and Other Connectivity Initiatives

Of the 35 proposed MMLPs, 6 have already been awarded in locations like Chennai, Nagpur, Jalna, Indore, Bengaluru, and Jogighopa. Bids for Pune, Nashik, and Anantapur have been floated, and 5 more MMLPs are slated for award in FY 2025–26. These projects will act as nerve centers of freight movement, reducing logistics cost and transit time.

In terms of port connectivity, 36 out of 108 projects are under execution, addressing last-mile bottlenecks. Meanwhile, over 455 Wayside Amenities (WSAs) along highways have been awarded—with 90 already operational. These WSAs aim to generate local employment and support rural economies by promoting village haats and indigenous products.

The Road Ahead: Toward a Resilient and Green Logistics Future

India’s logistics sector is now poised at a critical juncture. With strong alignment between the Centre, States, and private stakeholders, and strategic reforms like PMGS and NLP, the country is preparing to become a global manufacturing and logistics powerhouse.

Going forward, the sector must focus on:

• Data-driven planning

• Urban logistics frameworks (City Logistics Plans)

• Green logistics and sustainability

• Private sector participation and technology integration

• Filling infrastructure and regulatory gaps

The LEADS 2023 report captures these advancements and offers a blueprint for continuing this momentum. As India aims for global supply chain leadership, a robust, efficient, and sustainable logistics ecosystem will be its backbone—paving the way for economic resilience, export competitiveness, and inclusive growth.

BUSINESS STRENGTHS

A. Established Track Record and Industry Presence
Founded in 2011 by Krishan Kumar and Rakesh Kumar, the company began operations as a household packers and movers service before expanding into commercial shifting and goods transportation. A consistent focus on client-centric logistics solutions has led to strong customer retention and steady growth. The company caters to multiple industries, including electronics, retail, food, confectionery, wholesale trading, and multinational corporations. Long-standing client relationships have contributed to operational efficiency and enhanced market competitiveness.

B. Strong and Diverse Customer Base
By consistently delivering quality logistics services, the company has built long-term relationships with over 200 customers as of FY 2024-25. Offices and warehousing infrastructure in Delhi, Thane, Gurugram, and Bengaluru allow close coordination and client servicing. Existing client relationships continue to support customer retention, repeat business, and new client acquisition.

C. Comprehensive Logistics Service Portfolio
BLT Logistics functions as a multifaceted transport operator offering both 2PL (freight and transport management) and 3PL (storage and distribution) solutions. Services are designed to optimize clients’ supply chains by improving efficiency, reducing costs, and enhancing visibility. A robust transportation network and value-added services contribute to client acquisition across varied industry segments.

D. Experienced and Visionary Promoters
Promoters Rakesh Kumar and Krishan Kumar bring over 25 years of combined experience in the logistics and transport sector. Their strategic guidance has played a key role in expanding service capabilities, operational footprint, and business growth. Leadership experience across logistics functions has been critical to sustaining performance and competitiveness.

BUSINESS STRATEGIES

A. Strengthening Core Service Offerings:
Enhancing transportation, warehousing, and logistics services through industry expertise remains a key focus. This includes PAN India Full Truckload (FTL) and Less-than Truckload (LTL) freight management, real-time order processing, machinery/equipment relocation, project transport management, and comprehensive warehousing solutions. Fleet expansion through the purchase of 19 new trucks is also underway to support service enhancement.

B. Expanding Customer Base and Wallet Share:
Targeting new customers across sectors and deepening relationships with existing clients through customized logistics and supply chain solutions. The strategy includes cross-selling services, entering new geographies, and supporting clients’ expanding product lines to boost revenue and margins.

C. Network and Geographic Expansion:
Strategic investments are planned to increase geographical coverage and operational capacity. Expansion of existing branches and identification of new locations aim to strengthen service reach and responsiveness to dynamic customer requirements.

D. Warehousing Infrastructure Development:
In response to rising demand for local storage and faster delivery, plans are in place to develop leasehold or licensed multi-user warehouses in key, well-connected locations across India. These facilities are designed to meet the evolving logistics needs of clients in the growing online and retail marketplaces.

BUSINESS RISK FACTORS & CONCERNS

1. Geographic Revenue Concentration:
A significant portion of revenue is derived from operations in the State of Maharashtra, contributing ₹2,004.84 lakhs (41.83%), ₹1,887.69 lakhs (47.53%), and ₹1,599.72 lakhs (51.55%) for FY 2025, 2024, and 2023 respectively. Adverse developments in this region may negatively impact revenue and operational results.

2. Operational Diversification Risk:
Limited diversification across verticals and heavy reliance on transportation services heighten the risk of revenue concentration. Inability to manage or expand diversified operations could affect financial performance and cash flows.

3. Risks Associated with New Warehousing Business:
The company has recently entered the warehousing segment through leased premises in Gurgaon, Bhiwandi, Bengaluru, Hooghly, and Ambala. This new venture may face risks such as cost overruns, regulatory delays, or lower-than-expected cash flow generation, which could impact business growth, financial condition, and operational outcomes.

Summary:
BLT Logistics faces significant risks due to revenue concentration in specific geographies, limited business diversification, and recent entry into warehousing services. These factors may adversely impact operational performance, growth, and financial stability.