Logistics · Founded 2019 · www.gblogisticsindia.com · BSE 544348 · · ISIN INE0RWU01016
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Business
GB Logistics Commerce Ltd. is a logistics company based in India. Its core business involves providing an array of supply chain and transportation solutions. This typically includes freight forwarding (both full truckload - FTL and less than truckload - LTL), warehousing and distribution, express cargo services, and potentially specialized logistics solutions for various industries. The company generates revenue by charging fees for these services, which encompass transportation, storage, handling, and value-added services across the supply chain.
Revenue Mix
Without specific financial data, typical revenue segments for a logistics company like GB Logistics Commerce Ltd. could include:
Freight Transportation: Services related to the movement of goods via road, rail, air, or sea. This is often the largest segment.
Warehousing & Distribution: Income from storage, inventory management, order fulfillment, and distribution center operations.
Express & Parcel Services: Catering to time-sensitive deliveries for B2B or B2C clients.
Value-Added Services: Such as customs clearance, freight management, packaging, and supply chain consulting.
The precise contribution of each segment to GB Logistics' total revenue is not available.
Industry
The Indian logistics industry is large, diverse, and undergoing significant transformation. It is characterized by a mix of organized and unorganized players, with high fragmentation in the road transport segment. Key trends include increasing formalization, infrastructure development, and technology adoption. GB Logistics Commerce Ltd. likely operates within this competitive landscape, potentially positioning itself as a regional player, a national player with a specific focus (e.g., FTL, express cargo), or a provider of integrated logistics solutions to certain industries. Its exact market share or ranking relative to major established peers (e.g., Blue Dart, Allcargo Logistics, Delhivery, TCI Express) cannot be determined without specific data.
MOAT
The company's competitive advantages are not explicitly provided, but in the logistics sector, potential moats can include:
Network Density and Reach: A robust, widespread operational network (hubs, warehouses, last-mile presence) across India.
Operational Efficiency: Superior cost management and process optimization through technology and scale.
Customer Relationships: Long-standing contracts and strong relationships with key clients.
Technology Integration: Investment in logistics technology (e.g., WMS, TMS, IoT) for tracking, optimization, and data analytics.
Asset Ownership/Leasing Strategy: An optimal mix of owned and leased assets to manage capital expenditure and operational flexibility.
It is unknown whether GB Logistics possesses these advantages to a significant degree to constitute a strong moat.
Growth Drivers
Key factors that can drive GB Logistics Commerce Ltd.'s growth over the next 3-5 years include:
Economic Growth in India: Increased manufacturing, consumption, and trade activities directly fuel demand for logistics services.
E-commerce Boom: Continued rapid growth in online retail necessitates efficient warehousing, fulfillment, and last-mile delivery services.
Government Initiatives: Infrastructure development projects (e.g., National Logistics Policy, Gati Shakti, Bharatmala Pariyojana) improve connectivity and reduce logistics costs.
GST Formalization: The Goods and Services Tax has streamlined inter-state movement of goods, favoring organized logistics players.
"Make in India" Initiative: Growth in domestic manufacturing boosts demand for inbound and outbound logistics.
Third-Party Logistics (3PL) Outsourcing: Businesses increasingly outsource logistics functions to specialized providers for efficiency and cost-effectiveness.
Risks
Key business risks for GB Logistics Commerce Ltd. include:
Fuel Price Volatility: Transportation costs are highly sensitive to crude oil prices, impacting profitability.
Intense Competition: The fragmented Indian logistics market leads to pricing pressure and competition from both organized and unorganized players.
Economic Slowdown: A downturn in the Indian or global economy would reduce demand for logistics services.
Infrastructure Bottlenecks: Despite improvements, inadequate infrastructure in certain regions can still lead to delays and higher operational costs.
Regulatory Changes: Changes in transport policies, taxation, or labor laws could impact operations and profitability.
Labor Availability & Costs: Shortages of skilled drivers or warehouse personnel, or rising labor costs, can be a challenge.
Technology Disruption: Failure to adopt or adapt to new logistics technologies could lead to competitive disadvantage.
Management & Ownership
As is common with many Indian companies, it is probable that the company was founded by promoters (a founding family or group) who may still hold a significant ownership stake. The quality of management would typically be assessed by their experience in the logistics sector, track record of operational efficiency, ability to adapt to industry changes, and financial prudence. Specific details regarding the current management team, their experience, and the precise ownership structure (promoter holding, institutional holding, public holding) are not provided.
Outlook
GB Logistics Commerce Ltd. operates in a sector with significant tailwinds driven by India's economic growth, e-commerce expansion, and government focus on infrastructure development. This presents substantial opportunities for expansion and increased market share for efficient and well-managed logistics providers. However, the industry is also characterized by intense competition, volatility in operating costs (especially fuel), and the need for continuous investment in technology and network. The company's future performance will depend on its ability to effectively scale operations, maintain cost efficiencies, adapt to technological advancements, and navigate the competitive landscape while leveraging the broader sector growth.
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| #(Fig in Cr.) |
|---|
| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 116 | 206 | |
| Other Income | 0 | 0 | |
| Total Income | 116 | 206 | |
| Total Expenditure | 106 | 192 | |
| Operating Profit | 9 | 14 | |
| Interest | 2 | 2 | |
| Depreciation | 1 | 1 | |
| Exceptional Income / Expenses | 0 | 0 | |
| Profit Before Tax | 7 | 12 | |
| Provision for Tax | 2 | 3 | |
| Profit After Tax | 5 | 9 | |
| Adjustments | 0 | 0 | |
| Profit After Adjustments | 5 | 9 | |
| Adjusted Earnings Per Share | 8.5 | 10.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 78% | 0% | 0% | 0% |
| Operating Profit CAGR | 56% | 0% | 0% | 0% |
| PAT CAGR | 80% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -7% | NA% | NA% | NA% |
| ROE Average | 26% | 27% | 27% | 27% |
| ROCE Average | 28% | 26% | 26% | 26% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 18 | 50 |
| Minority's Interest | 0 | 0 |
| Borrowings | 1 | 0 |
| Other Non-Current Liabilities | -0 | 0 |
| Total Current Liabilities | 40 | 105 |
| Total Liabilities | 58 | 156 |
| Fixed Assets | 1 | 7 |
| Other Non-Current Assets | 1 | 5 |
| Total Current Assets | 57 | 144 |
| Total Assets | 58 | 156 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 1 |
| Cash Flow from Operating Activities | -21 | -11 |
| Cash Flow from Investing Activities | 0 | -11 |
| Cash Flow from Financing Activities | 20 | 23 |
| Net Cash Inflow / Outflow | -1 | 2 |
| Closing Cash & Cash Equivalent | 1 | 3 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | 8.48 | 10.75 |
| CEPS(Rs) | 10.07 | 11.42 |
| DPS(Rs) | 0 | 0 |
| Book NAV/Share(Rs) | 30.98 | 61.3 |
| Core EBITDA Margin(%) | 8.01 | 6.88 |
| EBIT Margin(%) | 7.23 | 6.71 |
| Pre Tax Margin(%) | 5.85 | 5.76 |
| PAT Margin (%) | 4.21 | 4.28 |
| Cash Profit Margin (%) | 4.99 | 4.55 |
| ROA(%) | 8.31 | 8.22 |
| ROE(%) | 27.36 | 25.9 |
| ROCE(%) | 24.94 | 27.75 |
| Receivable days | 141.93 | 157.13 |
| Inventory Days | 29.13 | 11.97 |
| Payable days | 116.13 | 314.34 |
| PER(x) | 0 | 3.19 |
| Price/Book(x) | 0 | 0.56 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 0.18 | 0.2 |
| EV/Core EBITDA(x) | 2.2 | 2.87 |
| Net Sales Growth(%) | 0 | 78 |
| EBIT Growth(%) | 0 | 65.38 |
| PAT Growth(%) | 0 | 81.16 |
| EPS Growth(%) | 0 | 26.83 |
| Debt/Equity(x) | 0.88 | 0.32 |
| Current Ratio(x) | 1.43 | 1.37 |
| Quick Ratio(x) | 1.2 | 1.33 |
| Interest Cover(x) | 5.25 | 7.05 |
| Total Debt/Mcap(x) | 0 | 0.56 |
| # | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Promoter | 52.4 | 52.4 | 52.4 |
| FII | 0.94 | 0.29 | 0.29 |
| DII | 6.08 | 2.18 | 0.6 |
| Public | 40.59 | 45.13 | 46.71 |
| Others | 0 | 0 | 0 |
| Total | 100 | 100 | 100 |
| # | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Promoter | 0.43 | 0.43 | 0.43 |
| FII | 0.01 | 0 | 0 |
| DII | 0.05 | 0.02 | 0 |
| Public | 0.33 | 0.37 | 0.38 |
| Others | 0 | 0 | 0 |
| Total | 0.82 | 0.82 | 0.82 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +78% | — | — | — |
| Operating Profit CAGR | +56% | — | — | — |
| PAT CAGR | +80% | — | — | — |
| Share Price CAGR | -7% | — | — | — |
| ROE Average | +26% | +27% | +27% | +27% |
| ROCE Average | +28% | +26% | +26% | +26% |
| # | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Promoter | 52.4 | 52.4 | 52.4 |
| FII | 0.94 | 0.29 | 0.29 |
| DII | 6.08 | 2.18 | 0.6 |
| Public | 47.6 | 47.6 | 47.6 |
| Others | 0 | 0 | 0 |
| Total | 100 | 100 | 100 |
| # | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Promoter | 0.43 | 0.43 | 0.43 |
| FII | 0.01 | 0 | 0 |
| DII | 0.05 | 0.02 | 0 |
| Public | 0.39 | 0.39 | 0.39 |
| Others | 0 | 0 | 0 |
| Total | 0.82 | 0.82 | 0.82 |
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