Ashapura Logistics Ltd - Stock Valuation and Financial Performance

The company was incorporated as ‘Ashapura Forwarders Private Limited’ at Ahmedabad, Gujarat as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated April 02, 2002, issued by the Registrar of Companies, Gujarat. Thereafter, the company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on April 01, 2021, and consequently the name of the company was changed to ‘Ashapura Forwarders Limited’, pursuant to a fresh certificate of incorporation issued by the Registrar of Companies, Ahmedabad, on April 12, 2021. The name of the company was further changed to ‘Ashapura Logistics Limited’, pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on December 08, 2022, and fresh certificate of incorporation was issued by the Registrar of Companies, Ahmedabad, on January 02, 2023.

Ashapura Logistics is an integrated logistics company in India, primarily operating in (i) Cargo handling and freight forwarding segment; (ii) Transportation (including project logistics and third-party logistics (3PL)); (iii) Warehousing and Distribution and (iv) other services (including coastal movement). With many years of its operational experience since inception, it provides differentiated logistics solutions with its: (a) pan-India presence, (b) integrated service offerings, (c) focus on improving service through technology, and (d) large network of vehicle fleet. Its management has focused on providing quality services to its customers over decades of operations and thereby building credibility with its customer base, including its longstanding customers. 

The company relies on an ‘asset-based’ business model wherein the assets necessary for quality services to its customers, such as commercial vehicles, containers and warehouses, are either owned or provided by a network of its business partners on lease basis. Accordingly, it has maintained its owned fleet of vehicle along with network of business partners from whom it hires the required vehicles on need basis. Additionally, the company’s technology-enabled ‘asset-based’ business model facilitates the flexibility to develop and offer customized logistics solutions to a diverse set of customers and industries. It actively promotes a ‘technology first’ culture with a view to scale the business efficiently and enhance the customer experience. It has developed software (IMPEX) for ease of its operations, which trace and track entire operations of its cargo handling and transportation segment. Further, it is in process of development of another software, dedicated to its transportation segment. Its primary technological capabilities encompass demand generation, track and trace, fleet operations, pricing control, and vendor ecosystem enablement. 

Business area of the company

Established in 2002, Ashapura is an ISO 2009:2015 certified company having strong worldwide network of business associates and an excellent presence in Indian market. Working on the principles of partnership, proficiency and quality management, it provides customer centric solutions for maximum efficiency and customer satisfaction, which is possible because of the expertise acquired by Ashapura through its existence in the field of imports, exports, custom clearance, transportation and warehouse & distribution backed up by a team of experts who nurture the needs of many multinationals. It is one stop shop for integrated imports, exports, pre & post custom clearance formalities, transportation, warehouse & distribution and door-to-door service & service solution provider. 

Major events and milestones

• 2002: Incorporation of the company.
• 2010: Established warehouse operations first in Gujarat.
• 2014: Incorporated subsidiary by name of ‘Ashapura Warehousing Private Limited’ for the purpose of Warehousing and Distribution business.
• 2017: The company achieved Revenue milestone of Rs 1,000.00 lakh on Standalone basis.
• 2018: The company achieved Revenue milestone of Rs 5,000.00 lakh on Standalone basis.
• 2019: Incorporated subsidiary by name of ‘Jai Ambe Transmovers Private Limited’ for the purpose of Transportation business.
• 2021: The company achieved Revenue milestone of Rs 10,000.00 lakh on Standalone basis.
• 2021: Converted into Public Limited company.
• 2023: Ventured into Coastal movement business.
• 2023: The company achieved Revenue milestone of Rs 15,000.00 lakh on Standalone basis.