Cargosol Logistics Ltd - Stock Valuation and Financial Performance

The company was originally formed and registered as a partnership firm under the Partnership Act, 1932 in the name and style of “Cargosol”, pursuant to a deed of partnership dated January 23, 2004 entered between Bhagyshree Roshan Rohira, Stalgy Samuel Muliyil. The terms, conditions and Clauses of partnership firm was changed pursuant to supplementary deed modifying the partnership Agreement including admission and retirement of partners dated June 07, 2004, June 18, 2004 and June 25, 2010. Further, “Cargosol” was thereafter converted from a partnership firm to a private limited company under Part IX of the Companies Act, 1956 with the name of “Cargosol Logistics Private Limited” and received a certificate of incorporation from the Registrar of Companies, Deputy Registrar of Companies, Maharashtra, Mumbai on March 04, 2011. Roshan Kishanchand Rohira, Samuel Muliyil, Bhagyshree Roshan Rohira, Stalgy Samuel Muliyil, Sirdodkar Bishnukant Jha, Cletus William D'souza and Benita Cletus D'souza, partners of Cargosol, were the initial subscribers to the Memorandum of Association of the Company. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on February 10, 2022, the Company was converted into a Public Limited Company and consequently the name of the Company was changed from “Cargosol Logistics Private Limited” to “Cargosol Logistics Limited” vide a fresh certificate of incorporation dated March 15, 2022 issued by the Registrar of Companies, Maharashtra, Mumbai.

Cargosol Logistics is a complete 3 PL (third-party logistics) service provider, delivering end-to-end solutions in the logistics and supply chain domain involving multimodal transport operations (MTO), owning and operating container, sea and air freight, transportation, warehousing, custom clearance services and handling of project cargo. The company operates a fleet of 12 commercial vehicles which are owned by it and apart from this, it also hire third party transport operators in case of high demand and business feasibility. It also provides warehousing facilities with its customers and its warehouses are well connected to several manufacturing and consumption clusters located at Thane, Maharashtra. It also handle NVOCC (Non Vessel Owning Common Carrier) facility for the sectors like Indian Sub-continent, Middle East, Upper Gulf, South East Asia and part of Europe through its slot arrangements with feeder operator as well as with main line operators.

The company started the business of freight forwarding as a partnership firm under the leadership of its promoters in the year 2004 under the name and style of “Cargosol Logistics” and since then, it has consistently grown its presence, enhanced the scope of its services, and increased its capabilities and expertise with continuous learning and upgradation. It has over the years developed ourselves and increased the ambit of its services covering critical services which are required to execute end-to-end logistic needs. These include Multimodal Transportation, Contract Logistics, Regulatory Compliance, warehousing and related Value-Added Services. It is also engaged in handling of project cargo, which is a specialized activity requiring detailed planning and technical expertise. The comprehensive project handling service includes designing and execution of customized solutions tailored to meet specific customer requirements for the transport of high value specialized equipment’s such as power plants, windmills stations etc. from one location to another using multiple modes of transport. These assignments are generally handled on a turnkey contract basis.

The company is headquartered in Mumbai and has presence in major locations such as Kalamboli, Pune, New Delhi, Chennai and warehouse located at Thane. Its international logistics operations are supported by a network of logistic service partners and vendors with whom it enter into cooperation agency agreements that enables it to service client requirements across India and abroad. It delivers international logistic services by using air, sea and surface, as modes of transportation. It has a Multi-Modal Transport Operator’s License and an IATA Accreditation for servicing its customers’ requirements. Multi-Modal Transport Operator’s License enable it to issue a single negotiable multimodal transport document covering multiple modes of transport and position itself as an independent player in this field thus strengthening its revenue model. It also undertake work related to regulatory compliance services such as customs clearance and industry-specific solutions for which it has entered into an agreement with OFS Cargo who have a valid Custom House Agent’s License.

Business area of the company

The company offers a wide range of solutions including transportation, warehousing and other value added services. It provides its clients with value added services such as packaging, quality checks and custom clearance.

Major events and milestones

• 2004: Started Business as Partnership Firm in the name of “Cargosol”.
  
• 2004: Registration of Partnership Firm, “Cargosol” with Registrar of Firms, Mumbai.
  
• 2006: MTO certification.
  
• 2008: IATA Certification & first bulk cargo vessel charter.
  
• 2011: Conversion of Partnership Firm into Private Limited Company “Cargosol Logistics Private Limited” under the Companies Act, 1956.
  
• 2021: The Company received the Certificate of Membership for Regular Member by Association of Multimodal Transport Operators of India.
  
• 2021-2022: The Company has received Certificate of GCP Membership for successfully complied with the condition of GCP membership from JCTRANS Logistic Network.
  
• 2021: The Company has received Certificate of Membership for successfully complied with the condition of membership WCA from WCA (Leading The World in Logistics Partnering).
  
• 2022: Conversion of the Company from Private Limited to Public Limited.