LEAP India

LEAP replaces capex-heavy ownership of pallets/containers/MHE with on-demand pooled access, positioned around reducing waste and logistics costs.

Plastics/closures manufacturers supplying FMCG bottlers, e.g. AMD Industries, Chemco Plastic, Alpla India, Manjushree, Bericap, Secure.

FMCG/beverage/paint manufacturers such as HCCBPL, SLMG Beverages, PepsiCo, Asian Paints, Campa Cola, Kansai Nerolac, Procter & Gamble.

Warehousing & distribution 3PL providers such as KDL, Agility, DHL, FM India, Rhenus, DB Schenker, DP World.

Modern trade and e-commerce distribution centres/stores such as Metro C&C, Walmart, D'Mart, Udaan, Amazon, Flipkart, JioMart, Reliance Retail.

LEAP typically signs customers to 1-5 year contracts with auto-renewal provisions, and builds price-escalation clauses into them to pass through cost increases and protect margins, shifting the relationship from one-off rentals to a recurring, structured arrangement.

LEAP deploys its own asset-management staff, called GEMs, directly at customer locations to handle asset counts, reconciliation, order coordination and general control of pooled assets at the customer's own touchpoints, an embedded, hands-on account-management model rather than a remote or self-service one.

LEAP's growth strategy leans on deepening existing accounts, cross-selling MHE and containers alongside pallets and adding integrated tech solutions, rather than only chasing new logos; its top 10 customers by FY2025 revenue have all been with the company for more than five years.

Per a customer account published on LEAP's site, the company starts new engagements with a sample batch before bulk supply and adjusts based on customer feedback, a collaborative, trust-building approach to relationship onboarding.

LEAP's in-house MyLEAP platform gives customers a single dashboard to track daily orders, request damage swaps, pull reports, and get help/support for their pooled pallets, containers and MHE; it is integrated with SAP S/4HANA and Salesforce for automated invoicing and data exchange.

A dedicated EDI product transmits structured asset-movement data directly between LEAP's SAP S/4HANA system and customers' own ERP systems, automating billing and removing manual data entry.

LEAP delivers, maintains and retrieves pooled assets through a growing network of fulfilment centres located close to customers across India: 33 as of March 31, 2025, up from 21 a year earlier and 20 in FY2023.

Beyond its Mumbai head office, LEAP maintains branch offices in Bengaluru, Gurugram, Pune and Chennai for direct customer and partner engagement, plus phone, email and an online enquiry channel.

Core operating activities per company/press description of the business.

Physical asset pool and infrastructure LEAP owns/operates to run pooling operations.

KKR acquired a majority stake in LEAP India in 2023, becoming its controlling shareholder ahead of LEAP's IPO.

TARON is LEAP India's forklift/material-handling-equipment subsidiary, combined with acquired SKAN Marine to build forklift-rental scale.

Customers pay LEAP to pool/rent pallets and containers instead of purchasing and owning them; LEAP also earns from repair & maintenance service on the assets it rents out.

Reflecting LEAP's asset-ownership pooling model, depreciation on property/plant/equipment, amortisation of intangibles and depreciation on right-of-use assets is consistently its single biggest expense category, rising from 28.67% of total income in FY2023 to 31.69% in FY2025 as the asset base (and the CHEP India acquisition) grew.

Salaries/wages/bonus, share-based payment, provident fund and staff welfare costs were LEAP's second-largest expense line, growing 43.58% year-on-year to Rs 896.05 million (18.47% of total income) in FY2025, driven by new CFO/COO/CGO hires and headcount added through the CHEP India acquisition.

Interest on debentures, term loans, cash credit and lease liabilities came to Rs 680.11 million (14.02% of total income) in FY2025, up 34.40% year-on-year, largely from debt raised to fund the CHEP India acquisition.

A catch-all line covering repairs & maintenance, contract labour, insurance, software, marketing, and packing/freight/transport totalled Rs 1,100.87 million (22.70% of total income) in FY2025; within it, repairs and maintenance alone was Rs 267.11 million.