~Fairfax owned Saurashtra Freight actively seeks to invest INR 50 million to INR 1,000 million in the transportation & logistics industry ~
Mumbai, January 2019: Fairfax owned Saurashtra Freight Private Limited, a leading freight logistics player in India is actively seeking to deploy capital in the logistics industry. The organization is looking for strategic acquisitions with a vision to unlock the business potential of the logistics industry in India as well as grow and expand its organization’s value, assets and presence, thus consolidating its position in the logistics ecosystem. Saurashtra Freight plans to invest an amount ranging from INR 50 million to INR 1,000 million in companies in the field of logistics, warehousing, transportation and other relevant sectors associated to freight industry. The organization aims to invest up to INR 3500 million in the next three years to fuel its growth in the industry.
Saurashtra Freight Pvt. Ltd., part of the Saurashtra group, began operations in 2008 and has been the largest Container Freight Station (CFS) operator in Mundra. It is the preferred logistics partner in the industry with a strong clientele in the industry. The organization prides itself in adopting key technological advancements with state-of-the-art equipment that match the needs and demands of their customers in a timely manner. The organization’s contribution to the industry has been widely recognized and awarded by numerous trade associations. Saurashtra also offers a trucking division – an extension to their services and prides itself in having over 200 trailers becoming the market leader in the region.
Speaking about its investment plans, Raghav Agarwalla, Managing Director, Saurashtra Freight Pvt. Ltd, said,’’ We at Saurashtra Freight are very optimistic of the logistics sector in India and the untapped growth potential. Being a well capitalized, debt-free balance sheet along with Fairfax’s backing gives us the edge to consistently invest in sustainable and free cash flow generating businesses. We are one of the few organizations who bring patient capital to the logistics industry.’’.
In January 2017, Fairfax India Holdings (Fairfax) purchased 51% in the company at a valuation of INR 4000 million. The company is debt free and has assets worth over INR 1000 million. The revenue and EBITDA have grown at a CAGR of 30% and 41% respectively to surpass a turnover of INR 1200 million.
Saurashtra’s USP lies in constantly delivering returns for its stakeholders and also boasts of strong growth, great customer service and quality training and development programmes for its employees. It also has the quickest turn-around and highest throughput as an Independent CFS.