- Business
- Patel Integrated Logistics Limited (PATINTLOG.NS), headquartered in Mumbai, India, and founded in 1959 as a one-truck surface transport operation before incorporation in 1962, operates as a leading multimodal logistics provider specializing in air freight consolidation, surface transportation, warehousing, and value-added services across India with over 125 offices, 89 branches, and presence in 89 airports. The company offers Patel Airfreight Domestic, an IATA-approved service for high-density cargo transport by air and surface; Patel Airfreight International, facilitating global freight via membership in the Global Logistics Network with 136 members across 60 countries; full truckload (FTL) and less-than-truckload (LTL) services; warehousing with over 200,000 square feet in facilities like Bangalore and Chennai for distribution, stock management, and consolidation; express delivery, door-to-door pick-up, and same-day last-mile delivery through passenger aircraft for cargo from 250 grams to 40 tonnes serving industries including e-commerce, pharmaceuticals, seafood, garments, granite, engineering goods, chemicals, automobiles, FMCG, and retail. Patel caters to over 75,000 customers, including multinationals and e-commerce giants, with technologically driven operations featuring in-house software like Hop Suite and Freight-PILL for tracking, proof of delivery, and cloud-based accounting; its pan-India network spans 500 stations with hubs in key zones and recent expansions into fitness ventures via UFC Gym tie-up at its Bandra office. Recent developments include a rights issue in September 2024 oversubscribed 3.19 times at Rs 18 per share to repay term loans, reducing annual interest by around Rs 1 crore and bolstering financial position; board changes with Jasmin Lalla's exit as executive director in December 2023, Vikas Porwal's appointment as executive director, Ramakant Kadam's transition from independent to non-executive non-independent director in July 2024, and Syed K. Husain's elevation to chairman in April 2024; alongside a recommended dividend of Rs 0.10 per share for FY24 and focus on debt reduction toward net external debt-free status.