GConnect Logitech received two big orders of totalling 1,400 metric tonnes per month

Commenting on this development, Mr. 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 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 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 purchase of vehicles and body building, 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 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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