Patel Integrated Logistics Ltd Share Price

History of Patel Integrated Logistics Ltd

Patel Integrated Logistics Ltd. (Formerly Patel Roadways Ltd) is a part of multifaceted group House of Patels. The Company was promoted by Asgar S Patel in 1959. Presently, the Company is engaged into Air Cargo Consolidation business under the division- Patel Airfreight which offers transportation of high-density cargo by air and surface within India as well as International. With 89 branches across the country, it offers specialised services. Additionally, it also offers import consolidation services. The Company diversified into exports of seafood, leather goods, granite, garments, engineering goods and medical equipment. A public issue was made in 1994 to increase the fleet of trucks from 66 to 166 and to purchase 18 LCVs to enable it to cater to bulk items such as newsprint and co ...mmodities. Clockwise Cargo, a division of PRL offers time-bound, precision delivery systems, from the doorstep of the consigner to the doorstep of the consignee, has posted a 100% growth. Corporate Logistics, the second division of the company, offers a total distribution package to large corporate houses. The services offered include collection of goods at the manufacturing site, warehousing facilities, total inventory control and deliveries to retail outlets throughout the country. The Company achieved in computerizing a large portion of its network as well as introducing a state-of-the-art track and trace system for improving overall efficiencies. It had a new creation with the merger of the two Group Companies - Patel Roadways Ltd. and Patel On-Board Couriers Ltd. The Company launched its Premium Door to Door Express Delivery Service - Patel Retail in 2006. The Scheme of Amalgamation of Patel On-Board Couriers Ltd. (POBCL) with the Company became operative from 1st April, 2005. Accordingly, new 53,86,612 equity shares were allotted in the ratio of 23 new equity shares of the Company for every 20 equity shares held in POBCL, as mentioned in the Scheme of Amalgamation. With this amalgamation, various services like Co-loading, Couriers and air freight came under the Company and it became a complete Logistics Solutions Provider with products like traditional Road Freight Transport, Co-Loading of Couriers and Consolidation of Cargo both Domestic and International, Logistics and Retail Cargo movement in 2005-06. Similarly, in 2008-09, the Scheme of Amalgamation of Springfield Hotels Private Limited (SHPL), the wholly owned subsidiary, with the Company was approved in July, 2009. Accordingly, SHPL was dissolved from the Effective Date i.e. from 20th August 2009. The Scheme became operative from the appointed date i.e. from 1st April 2008. In 2017-18, the Company acquired a 2.20 acre land for Warehouse at Bangalore and further acquired 3 acres of land in Chennai for construction of warehouse and transhipment facility. It ventured into health and fitness industry by taking franchisee of GYM business during FY 2021-21.