Chartered Logistics Limited (**CLL**), established in **1995**, is an Indian logistics provider that has evolved from a traditional road transport firm into a diversified supply chain and maritime services entity. Headquartered in **Ahmedabad, Gujarat**, the company is currently executing a strategic pivot toward high-value financial services in the maritime sector while modernizing its core domestic logistics infrastructure. --- ### **Core Logistics Operations & Industrial Footprint** CLL operates a comprehensive supply chain model, managing cargo from origin to final destination through a nationwide network of branches. The company follows an **"asset-right"** model, balancing owned infrastructure with flexible outsourced capacity. * **Service Portfolio:** * **Road Transportation:** Specialized door-to-door services, project-based cargo movement, and customized carrier options. * **Cost & Freight (C&F) Solutions:** Integrated distribution management to optimize freight costs for clients. * **Specialized Warehousing:** Tailored storage solutions designed for specific industrial requirements. * **Operational Infrastructure:** * **Fleet Management:** Operates a fleet of approximately **300** owned and attached vehicles. * **Technological Integration:** Implementation of **GPS-enabled tracking** and real-time delivery updates to ensure supply chain transparency. * **Sector Diversification:** The company provides specialized logistics for high-growth industries, including **Pharmaceuticals, Chemicals, FMCG, Petroleum, Cement, Heavy Metals & Tubes, Heavy Engineering,** and **Power Transmission.** --- ### **Strategic Pivot: Maritime Finance & IFSC Expansion** A central pillar of CLL’s growth strategy is its entry into the international maritime services and financial leasing sector, leveraging India’s emerging financial hubs. | Entity/Appointment | Role/Stake | Strategic Activity | | :--- | :--- | :--- | | **Chartered Comcare IFSC Limited** | **100% Subsidiary** | Registered as a Finance Company with **IFSCA** (April 2026) for the **operating lease of ships**. | | **Commodity Care General Trading LLC (Dubai)** | **Protective Agent** | Appointing vessel agents and issuing work orders for vessels calling at Indian ports. | * **GIFT City Operations:** The subsidiary operates under the **IFSCA Finance Company Regulations 2021** (CPC Code **9971**). It is mandated to achieve positive **Net Foreign Exchange (NFE)** and operates under SEZ rules for an initial **5-year** period. * **Maritime Agency:** CLL acts as a **Protective Agent** for international vessel agents, expanding its reach into maritime agency works within India. --- ### **Financial Performance & Capital Structure** CLL has demonstrated a recovery in profitability and is actively strengthening its balance sheet to fund expansion. **Three-Year Financial Summary:** | Metric | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Total Revenue** | **₹78.68 Crore** | **₹73.65 Crore** | **₹86.80 Crore** | | **Profit After Tax (PAT)** | **₹1.24 Crore** | **₹67.70 Lakhs** | **₹16.97 Lakhs** | | **Earnings Per Share (EPS)** | **₹0.12** | **₹0.07** | **(₹0.02)** | **Capital Infusion & Liquidity Management:** * **Warrant Conversions:** In **February 2025**, the company converted **2,09,00,000 warrants** into equity. Further tranches in late 2025 (**34,00,000** in October and **35,00,000** in November) brought the **Equity Share Capital** to **₹12.71 Crore**. * **Capital Realization:** The company realized **₹12.22 Crores** through warrant exercises (at **₹7.80** per warrant) to fund working capital. * **Debt Management:** CLL increased its authorized borrowing limit to **₹250 Crores**. To reduce debt, the company is pursuing **asset monetization**, including the disposal of **340.66 sq. mtrs** of non-core property in Sarkhej, Ahmedabad. * **Credit Security:** Working capital is secured by the **hypothecation of truck vehicles**, book debts, and personal guarantees from directors. --- ### **Modernization Strategy & Market Alignment** CLL is aligning its business model with the **National Logistics Policy** and **PM Gati Shakti** initiatives to capture a share of a market projected to grow at a **12.44% CAGR (2024-2032)**. * **Service Expansion:** Management is evaluating entry into **Cold Chain Logistics**, **Third-Party Logistics (3PL)**, and **Last-Mile Delivery** to capitalize on the e-commerce boom. * **Sustainability Initiatives:** The company is exploring **green logistics** through route optimization and upgrading to environmentally conscious vehicles to reduce its carbon footprint. * **Operational Resilience:** Adopting "nearshoring" strategies and data analytics to mitigate risks from global geopolitical disruptions and volatile fuel prices. --- ### **Risk Profile & Mitigation Framework** The company operates in a high-risk environment sensitive to macroeconomic shifts and regulatory oversight. **1. Regulatory & Compliance Risks:** * **Insider Trading:** Previously flagged for non-compliance with **SEBI (PIT) Regulations**, the company has since automated its **Structured Digital Database (SDD)** using **'THE PIT ARCHIVE'** software. * **Reporting Delays:** CLL has faced minor penalties for delayed financial filings and disclosure lapses (e.g., a **4-minute delay** in Q1 FY23-24 filings). * **Taxation:** While **GST** and **E-way bills** have improved transparency, management remains vigilant regarding the risk of non-compliant third-party transporters. **2. Operational & Infrastructure Challenges:** * **Resource Scarcity:** An **acute shortage of skilled manpower**, particularly trained drivers and logistics managers, remains a primary bottleneck. * **Infrastructure Deficits:** Congested highways and aging port infrastructure contribute to higher maintenance costs and delivery delays. * **Environmental Volatility:** Extreme weather events (floods, cyclones) pose direct threats to asset safety and operational continuity. **3. Market & Financial Sensitivities:** * **Fuel Costs:** High sensitivity to **diesel price volatility**, which directly impacts operating margins. * **Cybersecurity:** As operations digitize, the company faces increased exposure to **ransomware and data breaches**. * **Economic Correlation:** Freight demand remains tightly coupled with India’s **GDP growth**, where transportation currently contributes approximately **6.3%**. --- ### **Corporate Information** * **Listing:** BSE Limited (BSE Code: **531977**). * **Dematerialization:** **98.02%** of shares are held in demat form as of March 2025. * **Registered Office:** Relocated in **July 2025** to **A-409, Stellar, Sindhu Bhavan Road, Ahmedabad, Gujarat**. * **Governance:** The company utilizes a **business risk management framework** where senior management and the Board conduct periodic reviews to align risk mitigation with long-term strategic objectives.