Tiger Logistics is a homegrown international freight forwarder that started in 2000 as a small customs clearance house in Delhi and has spent over 26 years building itself into an end-to-end logistics partner for exporters and importers moving goods across borders. The company does not own ships or planes; instead, it operates an asset-light model, weaving together a global network of shipping lines, airlines, and about 50 overseas agents to manage the complex journey of cargo from a factory floor to a foreign destination. That recurring approach - being a high-touch, one-stop solutions provider rather than a vendor, and earning a service fee on top of the freight cost - explains everything from its deep foothold in moving India's two-wheelers abroad to its newer digital and green-energy bets.
Business segments
A single international logistics engine, now branching into three specialist verticals - a digital booking platform, a renewable-energy logistics desk, and a consolidation brand for smaller forwarders - all running on the same asset-light, cost-plus model.
1. Multimodal freight forwarding: the core engine that moves cargo across the world
The company makes its living by managing the end-to-end international shipment of goods for exporters and importers, charging a service fee on top of the underlying ocean, air, and land freight costs.
- Paid on a cost-plus basis - the top-line billing to a customer reflects the actual freight rate from a shipping line or airline, plus the company's service margin, so revenue moves with both volumes and global freight prices.
- Asset-light by design - 98% of the truck fleet is hired from a network of vendors, and overseas agents are paid a per-container handling fee rather than being on the payroll, which keeps the balance sheet lean and lets the business scale up or down with trade cycles.
- The automotive anchor - handling the complete export logistics for two-wheeler manufacturers has historically made up 50-60% of the business, and the company claims to move close to half of India's two-wheeler exports, with clients that include Honda, Bajaj, TVS, and Royal Enfield.
- A broadening government book - the company is empanelled by more than seven government organisations and PSUs, including BHEL, BEML, and the Ministry of Defence, and has recently added petrochemical logistics through a tender from HPCL, which has helped shrink the top-five customer concentration from 84% of revenue in FY22 to 46% in FY26.
- Volume growth as the scorecard - container volumes handled grew from about 40,600 TEUs in FY22 to over 92,600 TEUs in FY26, a compound annual growth rate of nearly 23%, while air freight volumes reached roughly 367,000 kilograms in FY26.
2. FreightJar: the digital storefront for instant freight booking
A proprietary online platform that lets exporters and importers get real-time quotes, book ocean and air shipments, and track cargo - essentially a MakeMyTrip for international freight, built to cut out 30-40 emails per shipment.
- Instant price discovery - the platform displays the actual selling price for FCL (full container load), LCL (less-than-container load), and air freight, allowing customers to book instantly rather than negotiating over days, which saves an estimated 3-5 working days per shipment.
- Built with a global tech partner - launched in April 2023 in association with an unnamed "renowned global tech leader," the platform was upgraded to FreightJar 2.0 in May 2024, adding import capabilities and opening access to over 5,000 forwarders and agents globally.
- Financing stitched in - through an exclusive agreement with OneNDF and an alliance with ICICI Bank's Trade Emerge platform, FreightJar users can access cargo value financing and quick credit options, targeting SME exporters who need working capital.
- Early traction in a fast lane - the global digital freight forwarding market is projected to grow at a 23% CAGR to USD 22.9 billion by 2030, far outpacing traditional forwarding's 5% growth, and FreightJar had already onboarded over 500 businesses across India within its first year.
3. TiGreen: the specialist desk for renewable-energy supply chains
A dedicated division that moves everything from solar panels to wind turbines for the global renewable-energy trade, riding the wave of India's solar export boom.
- Built for oversized cargo - the team has expertise in handling out-of-gauge (ODC) cargo like wind turbine blades and heavy machinery, and is led by a supply-chain veteran with over 20 years of experience in logistics.
- Solar containers are the volume driver - monthly volumes scaled from 300 TEUs in November 2024 to 1,500 TEUs by March 2025, and reached up to 2,000 TEUs per month by February 2026, with the majority of cargo originating from solar manufacturers in Gujarat.
- An Asian sourcing network - the division leans on an extensive agent network spread across China, Vietnam, Indonesia, Malaysia, and Cambodia, which was expanded in Cambodia, Malaysia, Vietnam, Thailand, and Hong Kong for importing solar module panels.
4. CUBOX: the consolidation brand for smaller forwarders
An LCL (less-than-container-load) service built "by forwarders, for forwarders," targeting the fragmented market of small and medium exporters who do not ship enough to fill an entire container.
- A B2B play in a fragmented market - India's LCL market accounts for roughly 0.5 million TEUs, or 10-15% of overall container shipping, with more than 150 active players, creating an opening for an organised consolidator to aggregate cargo from multiple small shippers into shared containers.
- Weekly consolidations from North India - launched in February 2025 with a specialised team and dedicated office space in New Delhi, the service runs active weekly consolidations and has plans to expand into West India and later into the Middle East, Latin America, and Africa.
- MSMEs are the demand engine - small and medium enterprises account for approximately 40% of India's exports and imports, and they are the natural customers for a service that lets them ship smaller quantities without paying for a full container.
Group structure and partners
A tightly held, debt-light company with a family-led board, a clean subsidiary-free structure, and banking relationships that provide working capital headroom.
- The company has no subsidiaries as of FY25, having previously wound down a Singapore entity, and holds only a small unquoted investment in a related logistics party, Raina Transcontinental Limited.
- The board comprises two executive directors - Managing Director Harpreet Singh Malhotra and his wife, Executive Director Benu Malhotra - alongside one non-executive woman director and three independent directors, one of whom is a former Chief Commissioner of Customs & Excise.
- Sanctioned working capital lines stand at ₹23.5 crore with SBI, ₹3.5 crore with IDBI, and ₹10 crore with ICICI, while net cash on hand was ₹41.5 crore as of FY26, reflecting a low-leverage approach.
- The company holds a long-term credit rating of IVR BBB+/Stable and a short-term rating of IVR A2 from Infomerics, and its statutory auditor is M/s. Garg Agrawal & Agrawal, Chartered Accountants.