PNN
Ahmedabad (Gujarat) [India], July 15: GConnect Logitech and Supply Chain Ltd., a distinguished leader in intelligent transport solutions and logistics, has announced that it has received two big sized orders for logistic and material handling from two Bhavnagar (Gujarat) based companies Royal Transport and Vera Synthetic Limited. The company, with proven track record of consistently delivered end-to-end supply chain management solutions, has received these orders in the tune of a total of 1,400 metric tonnes per month for loading, unloading and transportation services.
The company received orders from Bhavnagar-based firms Royal Transport and Vera Synthetic Ltd for loading, unloading and transportation services
Commenting on this development, Jigar Sheth, Managing Director, GConnect Logitech and Supply Chain Ltd said, "We are immensely proud to get these two big orders from two prominent companies from our own Bhavnagar city of Gujarat. We believe that logistics are not just about transportation but a seamless integration of technology and operational excellence. We are committed to revolutionizing load management and optimizing vehicle utilization for maximum returns, especially during peak demand periods. Our vision extends beyond just providing services as we aspire to create a dynamic and interconnected logistics network that fosters collaboration, trust, and success for all stakeholders".
The first order was received from Bhavnagar-based Royal Transport for Loading, unloading and transportation of Precipitated Silica and AluminoSilcates, products of Madhu Silica Private Limited from Bhavnagar to various Dealers in South India with an average quantity of 600 metric tonnes 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, twine rope straps and industrial yan from Bhavnagar to various dealers in Gujarat with an average quantity of 800 metric tonnes per month.
"With over 20 years of experience of our promoters, GConnect has consistently delivered end-to-end supply chain management solutions, solidifying our position in the freight forwarding industry. At GConnect, we take pride in our unwavering commitment to providing quality services that exceed the expectations and requirements of our clients. This dedication has been the cornerstone of our success, resulting in long-term partnerships and establishing us as 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 26th March 2024 and closed on 28th March 2024. Further, 1401000 equity shares were allotted under IPO on 1st April 2024. The objective of SME IPO was for business expansion including the purchase of vehicles and bodybuilding, to finance the website development and App designing and for general corporate purposes.
For the financial year completed on 31 March 2024, GConnect Logitech had reported an increase of 119.52% in total income to Rs. 4.01 crores which was at Rs. 1.01 crores in FY23. Net profit was reported at Rs. 23.86 lakhs, jumped by 74.88% compared to Rs. 10.86 lakhs in the previous financial year.
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