NSE: LEAPIND · BSE: 544865
LEAP INDIA LIMITED
Pools wooden pallets and rents them to manufacturers, retailers and logistics companies, charging per-trip or per-period fees for standardised platforms in supply chains. India is at 14-17% palletisation penetration versus 89-94% in developed markets, and Indian pallets circulate only 0.4 trips a year on average versus 4 trips globally — the structural gap the company is closing. Revenue comes from two hire formats: 'static hire' where pallets stay at one customer's site, and 'Movement Hire' where pallets move between shippers and receivers, with movement-hire moves rising 8% YoY to 766,000 in Q1 FY27 at a per-pallet yield of ₹1.54 versus ₹1.45 a year earlier. A separate Material Handling Equipment line rents forklifts and stackers and added 174 machines in the quarter for INR35.3 crore, up 33% YoY. The largest cost is pallet procurement and refurbishment: Q1 FY27 asset deployment was INR76 crore versus INR110 crore a year earlier, with the company leaning on 89.2% utilisation and in-house repair of about 1.4 million pallets given raw-material inflation. Q1 FY27 consolidated revenue was INR2,134 million (+19% YoY), EBITDA margin 53.5%, and PAT INR247 million, against an asset base valued at over INR1,690 crore. AR · MarketPing reader · 2026-09-16
Revenue streams, as the annual report describes them. Pallet static hire, Pallet Movement Hire, Material Handling Equipment rental. Asset-heavy, recurring-rental pallet pooling with high incremental margin and exposure to raw-material inflation
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 203 |
| Profit before tax | 33 |
| Net profit | 25 |
| EPS (₹) | 0.60 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Q2 FY27 earnings call audio recording made available | investor communications | low | — | — |
| 27 Oct 2026 · Newspaper publication of September 2026 unaudited financial results | compliance | minimal | — | — |
| 27 Oct 2026 · TARON subsidiary bank loan ratings upgraded by Ind-Ra | credit debt | medium | — | — |
| 26 Oct 2026 · LEAP India approves Rs 142 crore purchase of Vimprotech and TIPS | compliance | low | — | — |
| 26 Oct 2026 · LEAP India agrees to acquire Vimprotech and TIPS for Rs 142 crore | strategic transactions | medium | — | — |
| 26 Oct 2026 · Q2 FY27 PAT up 62%; Vimprotech and TIPS acquired for Rs 1,420 Mn | investor communications | medium | — | — |
| 26 Oct 2026 · Q2 FY27 profit rises 62% as LEAP acquires two packaging firms | compliance | low | — | — |
| 26 Oct 2026 · Secretarial Auditor proposed for FY2026-27 to FY2030-31 | management changes | low | — | — |
| 26 Oct 2026 · Board seeks approval for capital reclassification and promoter director nomination rights | general | medium | — | — |
| 26 Oct 2026 · September quarter profit after tax rises 62% as IPO proceeds cut debt | results | high | — | — |
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|---|---|---|
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.