GConnect Receives Major Logistics Orders from Bhavnagar-based CompaniesGConnect Receives Major Logistics Orders from Bhavnagar-based Companies GConnect Logitech and Supply Chain Ltd. has secured two substantial orders for logistics and material handling from Royal Transport and Vera Synthetic Limited, both based in Bhavnagar, Gujarat. The company, renowned for its comprehensive supply chain management solutions, will provide loading, unloading, and transportation services amounting to 1,400 metric tons per month. Collaboration with Bhavnagar-based Companies GConnect received the orders from Royal Transport for handling Precipitated Silica and AluminoSilcates, while Vera Synthetic Limited contracted the company for transporting PP Fishing Nets, Rope Bands, and Industrial Yarn. These services involve transporting an average of 600 and 800 metric tons per month, respectively. Commitment to Excellence and Innovation “We are honored to receive these orders,” said Jigar Sheth, Managing Director of GConnect. “Logistics goes beyond transportation; it’s about integrating technology and operational excellence. We aim to optimize vehicle utilization and revolutionize load management to maximize revenue.” Financial Growth and Expansion In the first half of 2024 (H1 of CY24), the company raised Rs. 5.60 crores through an SME initial public offer (IPO). The funds will be used for business expansion, including vehicle purchases, website development, and other corporate purposes. Financial Performance GConnect Logitech reported a significant increase in total income and net profit for the financial year ended March 31, 2024. Total income surged by 119.52% to Rs. 4.01 crores, while net profit rose by 74.88% to Rs. 23.86 lakhs. Disclaimer This article is an auto-generated press release. Neither PNN nor the author is responsible for its content.
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Ahmedabad (Gujarat) (India), July 15: GConnect Logitech and Supply Chain Ltd., a leading provider of intelligent transportation solutions and logistics, today announced that it has received two large orders for logistics and material handling from two Bhavnagar, Gujarat-based companies Royal Transport and Vera Synthetic Limited. The company, with a proven track record of consistently delivering end-to-end supply chain management solutions, has received these orders in the order of 1,400 metric tons per month for loading, unloading and transportation services.
The company received orders from Bhavnagar-based companies Royal Transport and Vera Synthetic Ltd for loading, unloading and transportation services
Commenting on the development, Jigar Sheth, Managing Director, GConnect Logitech and Supply Chain Ltd said, “We are extremely proud to receive these two major orders from two leading companies from our very own city of Bhavnagar in Gujarat. We believe that logistics is not just about transportation, but about seamless integration of technology and operational excellence. We are committed to revolutionizing load management and optimizing vehicle utilization for maximum revenue, especially during peak demand periods. Our vision extends beyond just providing services, as we strive to create a dynamic and interconnected logistics network that fosters collaboration, trust and success for all stakeholders.”
The first order was received from Royal Transport of Bhavnagar for loading, unloading and transportation of Precipitated Silica and AluminoSilcates, products of Madhu Silica Private Limited of Bhavnagar to various dealers in South India at an average quantity of 600 metric tons per month. GConnect Logitech received the second order from another Bhavnagar based company, Vera Synthetic Ltd for loading, unloading and transportation of PP – Fishing Net, Rope Bands and Industrial Yan from Bhavnagar to various dealers in Gujarat at an average quantity of 800 metric tons per month.
“With over 20 years of experience of our promoters, GConnect has consistently delivered end-to-end supply chain management solutions, thereby cementing our position in the freight forwarding industry. At GConnect, we pride ourselves on our unwavering commitment to delivering quality services that exceed our customers’ expectations and requirements. This dedication has been the cornerstone of our success, resulting in long-term partnerships and establishing us as a market player in the transportation and logistics sector,” added Mr. Sheth.
Earlier in H1 of CY24, the company had raised Rs. 5.60 crores through SME initial public offer (SME IPO). The issue was opened on March 26, 2024 and closed on March 28, 2024. Further, 1401 thousand equity shares were allotted under IPO on April 1, 2024. The purpose of SME IPO was for business expansion including purchase of vehicles and body building, to fund website development and app design and for general corporate purposes.
For the financial year ended March 31, 2024, GConnect Logitech reported a 119.52% increase in total income to Rs. 4.01 crores, from Rs. 1.01 crores in FY23. Net profit was reported at Rs. 23.86 lakhs, a jump of 74.88% compared to Rs. 10.86 lakhs in the previous financial year.
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