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Demand for pallets on lease to go up to 4 million: LEAP India
Industry News- Mar 01,19
LEAP India, which has deployed Rs 400 crore of equity and debt so far in to pallets and foldable large containers (FLCs), expects current pallets deployed to grow to 4 million in the near future
LEAP India, which has deployed Rs 400 crore of equity and debt so far in to pallets and foldable large containers (FLCs), expects current pallets deployed to grow to 4 million in the near future. “LEAP India expects the demand for pallets on lease to go up to 4 million from 2.1 million deployed currently, while that of foldable large containers (FLCs) to touch four lakhs from one lakh now,” said the company in a press release.
LEAP India, a leading supply chain management solutions firm, has transformed the way goods are going to be delivered by FMCG, beverages, auto, e-commerce, large logistic players and pharma companies in the country. The company has added 300 large corporates as its clients in the last two years, as it has moved from 150 clients two years back to 450 clients as on today. There is also deep penetration and growth is experienced by the company from the existing clientele.
Commenting on this development, Sunu Mathew, MD, LEAP India, said, “We are delighted to achieve leadership position in a span of five years of our existence. We have enough opportunity in these two products pallets and FLCs and we have recently added Forklifts to our offering and working on innovative products, which we will roll out during the current year. We are geared up to grab this opportunity and we are very well funded company to take care of our expansion plants.”
The company has surpassed its largest competitor and has emerged as leader in number of pallets and FLCs deployed in the country. The company has marquee investors like Mayfield and Sixthsense and Piramal.
In India, the method of transferring auto components is still traditional and a truck full of goods requires 14 workers and 3 hours to load and off-load it. The pallets and FLCs reduces packaging cost, increases warehousing and transportation efficiencies, reduces damages, manpower requirements, Carbon Footprint and helps companies to achieve ISO certifications, capital efficiency and saves time to focus on their core activities.
Founded in July 2013, LEAP’s business is of returnable packaging and pooling of equipments namely; wooden pallets, plastic containers, wooden boxes and metal wire mesh catering to all sectors which uses these equipment’s to store or transfer products from one location to another.
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