BLT Logistics Limited IPO

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Business Operations

BLT Logistics Limited, originally incorporated as BLT Logistics Private Limited on September 06, 2011, is a Delhi-based logistics service provider. The company transitioned to a Public Limited Company on February 09, 2024. BLT Logistics Limited is engaged in offering surface transportation and warehousing services primarily to B2B clients across India. The company operates through a mix of:

a) Owned fleet: 106 containerized trucks (capacity: 3.5MT to 18MT)
b) Subsidiary fleet: 15 vehicles owned by 99.99% subsidiary, Sabarmati Express India Private Limited
c) Third-party operators: Partnerships with small fleet owners and logistics agents

As on March 31, 2025, the group had a consolidated fleet of 121 vehicles.

Service Offerings

i) Transportation & Allied Services:
Provides B2B cargo movement across India with FTL/LTL services, real-time tracking via MIS, and allied services like packing, moving, and project cargo transportation.

ii) Warehousing Services:
Started in 2023 with ~36,300 sq. ft. across five key locations, offering MIS-enabled inventory reporting and integrated storage solutions.

Clientele & Industries Served

The company serves over 200 clients (FY 2024–25) from diverse sectors like Electronics, Retail, Food & Confectionery, Wholesale trading and Multinational Corporations (MNCs). BLT Logistics Limited is headquartered in Delhi, with strategically located warehouses in Gurgaon, Thane, Bengaluru, Hooghly, and Ambala, enabling pan-India service coverage through its owned fleet and a robust network of third-party logistics operators.

Business Model Evolution

Currently operating as a Second-Party Logistics (2PL) provider, the company is strategically transitioning into a Third-Party Logistics (3PL) model. This includes:

i) Integration of warehousing with transport
ii) Offering end-to-end supply chain solutions
iii) Providing value-added services like inventory management and order tracking

Competitive Strengths

i) Established Track Record: Operating since 2011, the company has grown from packers and movers to a full-scale logistics provider.
ii)  Strong Customer Relationships: Maintains long-term client relationships with a presence in Delhi and warehouses across key metros.
iii) Wide Range of Services: Offers integrated 2PL and emerging 3PL solutions, covering transportation, warehousing, and value-added services.
iv) Experienced Promoters: Led by promoters with 25+ years of industry experience, driving strategic growth and operational expansion.

Objects of the BLT Logistics Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: 1. Funding capital expenditure requirement for purchase of trucks and ancillary equipment (₹3.87 cr) 2. To Meet Working Capital Requirements (₹2.80 cr) 3. General Corporate Purpose.
DRHP of BLT Logistics Limited IPO
RHP of BLT Logistics Limited IPO

BLT Logistics Limited IPO Details:

Open Date: Aug 04 2025
Close Date: Aug 06 2025
Total Shares: 12,96,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 9.72 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 71-75 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Krishan Kumar is the Chairman and Managing Director of the Company. He completed his Senior School Certificate Examination from CBSE, Rajasthan, and has 13 years of experience in the logistics industry. He has been a Director since the Company's incorporation on September 06, 2011. He was appointed as Managing Director for a 5-year term in the EGM held on March 02, 2024, and later designated as Chairman of the Board in the meeting held on August 02, 2024. 2. Rakesh Kumar, Rakesh Kumar is the Whole Time Director of the Company. He completed his Senior Secondary Examination from the Board of Secondary Education, Rajasthan, and also has 13 years of experience in the logistics sector. He has been a Director since incorporation on September 06, 2011, and was designated as Whole Time Director for a 5-year term in the EGM held on March 29, 2024. 3. Rajni Sharma, Rajni Sharma is an Independent Director of the Company. She holds a Post Graduate Diploma in Business Administration from Symbiosis Centre for Distance Learning and a B.Com from the University of Delhi. With over 14 years of experience in finance and accounts, she was appointed as an Independent Director for a 5-year term in the EGM held on August 01, 2023.

Financials of BLT Logistics Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 47.92 39.71 31.03
EBITDA 7.59 6.57 3.98
EBITDA Margins 15.85% 16.55% 12.84%
PAT 3 2.65 1.35
PAT Margins 6.27% 6.67% 4.37%
ROCE 27.66% 35.29% 22.23%
Debt to Equity Ratio(In Times) 1.55 2.42 4.64
Operating Cash Flows 2.26 3.41 3.52

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
BLT Logistics Limited 47.92 15.85% 6.27% 27.66% 1.55 35.97 11.99
Coastal Roadways Limited 41 7.37% 3.52% 9.25% 0.01 16 11.2
Premier Roadlines Limited 288 8% 5.32% 22.10% 0.44 200 13

Lead Manager of BLT Logistics Limited IPO:

  1. Beeline Broking Limited

Registrar of BLT Logistics Limited IPO:

  1. Skyline Financial Services Private Ltd

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