Flywheel Logistics aims at a turnover of Rs 200 crore

Flywheel Logistics aims at a turnover of Rs 200 crore

Flywheel Logistics aims to reach a turnover of Rs 200 crore this financial year, backed by a good order book.

“The company’s order book has seen a major positive impact due to the upturn in business sentiment across India in recent months and the impact of the government’s initiatives such as ‘Make in India’,” Flywheel Logistics founder and CEO Anil Syal said.

The company has achieved Rs 172 crore in turnover in FY16, and has projected to touch Rs 200 crore in an organic approach in FY17.

“We have chalked out a plan to invest Rs 120 crore over the next two years to grow even more for which we seeking for equity infusion. On an organic basis we should be able to reach Rs 200 crore by the end of this financial year. The investment in enhancing our capacities and infrastructure will help increase our business over the next two years.”

Flywheel Logistics has also appointed PwC India to advise on the deal negotiation, and structure of private equity infusion.

Started in 2009, Flywheel Logistics is into a unique model of domestic transportation of containers operating on a network style on 160 daily departures on 60 national routes with the help of a 750-strong fleet of 40 feet and 20 feet TEU (twenty-foot equivalent unit) containers reaching 18 states.

Besides this, Flywheel operates seven yards across India and reaches 350 destinations. The full container load network operates on a hub-and-spoke model. In warehousing, Flywheel Logistics has presence in 21 states with over 1 million sq feet of warehousing space, and secondary distribution to over 250 districts in these states.

The automotive sector is the biggest vertical for the company with 23-25% revenues, followed by retail (20%), electrical and electronics (14%), and food and FMCG consumer (12%).
DH News Service

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