RITCO LOGISTICS LIMITED

Provides B2B road-logistics and supply-chain services under 1–3 year contracts for petrochemical, industrial and infrastructure clients including Reliance, ONGC, GAIL, MRPL, Indian Oil, HPCL, OPAL, MEIL, RINL, Pidilite, BHEL and Mitsubishi. Runs an asset-light model: only about 300–350 trucks are owned (kept for tender eligibility), with around 30,000 vendor trucks handling most movements. The largest vertical is petrochemical logistics, which management says contributes 42–44% of revenue and in which it claims the leading share of India's market; other work spans infrastructure (steel, cement, solar, fly ash), 10 leased warehouses for Reliance, MRPL, Indian Oil and Mitsubishi, and an emerging multimodal road-rail line management targets at 30% of volume within three years. A digital arm called TrucksUp runs an aggregator platform with 3,68,000 trucks, 3 lakh+ app downloads and 30,000+ business associates, monetising through FASTag (over Rs 80 crore in GMV by June 2026, with 10% month-on-month growth), fuel-card tie-ups with HPCL and IOCL, insurance, financing referrals and a used-truck marketplace (TrucksHub). TrucksUp posted Rs 1.75 crore of revenue in Q1 FY26 with an Rs 15 crore FY26 target, while consolidated FY26 revenue was Rs 1,499 crore. The dominant cost line is freight paid to truck operators, booked as materials at 88.5% of revenue; employee cost is 3.2% and FY26 EBITDA margin was 6.98%.