Gconnect Logitech And Supply Chain Ltd - Stock Valuation and Financial Performance

The company was incorporated as “Gconnect Logitech and Supply Chain Private Limited” pursuant to a certificate of incorporation dated July 20,2022, issued by the Deputy Registrar of Companies, Central Registration Centre. Thereafter, pursuant to a resolution passed by its shareholders in the extraordinary general meeting held on March 24, 2023, wherein the business of Prithvi Enterprise, a sole proprietorship concern was taken over. Subsequently, the company was converted into a Public Limited Company and the name of the company was consequently changed to ‘Gconnect Logitech and Supply Chain Limited’ and a fresh Certificate of Incorporation dated September 18, 2023 issued by Registrar of Companies, Ahmedabad.

The company is engaged in the business of providing surface logistics services viz. goods transport services. The company offers its services to other logistic companies, including surface logistic companies and to direct customers. The range of services offered by the company includes bulk load, Full Truck Load (FTL) service and dedicated load. Under bulk load, the company offers bulk transportation service to large sized Companies through their transport contractors, Full Truck Load (FTL) service to retailers and traders, wherein the company provides point to point services to the customers in which the goods are loaded from the premises of the customer and are delivered to the delivery point as specified by them (i.e. factory/warehouse). The company also provide dedicated load service, which includes multiple pick-ups and drops. The company mainly serves transport contractors and industrial customers, who have requirement to transport bulk quantities of their goods from one place to another within India.

The company carry its logistics business with the primary focus being the state of Gujarat. The company primarily serves transport contractors and also direct customer, thus serving a varied end customers from a broad range of industries such as metals, fabrics, Fast Moving Consumer Goods (FMCG), auto components, chemicals and pharmaceuticals. It does not enter into any contract with its customers. The company operates under an asset light model, thus engaging with third parties for providing the company with the assets necessary for its operations such as vehicles (customized and containerized).

Business area of the company

GConnect Logitech and Supply Chain excel in intelligent transport solutions, serving as a trusted global logistics provider. The company's service offerings include bulk loads, Full Truck Loads (FTL) service, and dedicated loads. Bulk load service forms part of the core services provided by it. It provides bulk transportation services to its customers, in which the goods are loaded on to its vehicles at the premises of the customer and then delivered to the destination as specified by the customer. It provides these services for customers located in the state of Gujarat through a fleet of hired trucks. It also offers Full Truck Load Services (FTL Services) to its customers. FTL Services is logistic management of freight that requires the entire space on a fleet. This is a point-to-point movement which involves freight movement from customers’ designated location to their delivery point or destination. It also offers its customers dedicated load services, where a vehicle or fleet is assigned dedicatedly for a customer to provide them with multiple pickups and drops, local and home deliveries, reverse logistic, freight handling, and freight network designing etc.

Key events

• 2022: Incorporation of the company as a Private Limited Company.
• 2023: Acquisition of proprietary business of Mr. Jigar Sheth named Prithvi Enterprise led by Managing Director of the company.
• 2023: Conversion of the company from a Private Limited to a Public Limited Company.