Leap India, a logistics solutions business, raised $63 million from KKR in December of last year, fueled by a 44% increase in revenue for the fiscal year that ended in March 2024. Additionally, at the same time period, the Mumbai-based company's profits increased fourfold.

According to Leap India's consolidated financial filings obtained from the Registrar of Companies, the company's operating revenue increased from 253 crore in FY23 to 365 crore in FY24.

Leap India offers supply chain solutions that cover maintenance, transportation, inventory control, packaging, and equipment sharing. It runs 25 warehouses and 22 manufacturing facilities to serve the consumer durables, beverage, automobile, and e-commerce industries.

95.6% of total income came from services, which increased 43.6% to 349 crore in FY24. The selling of pallets and forklifts generated the remaining funds.Additionally, the business made 7 crore, increasing its total revenue from 258 crore in FY23 to 372 crore in FY24.

Depreciation and finance expenditures accounted for 50.5% of total expenses for an end-to-end supply chain organization, which climbed to 164 crore in FY24. In the most recent fiscal year, its employee perks increased by 93.8% to 62 crore.

The total expenses increased by 31% to 325 crore in FY24 from 248 crore in FY23 due to legal, freight, travel, and other overheads.

The KKR-backed company's profits increased by 4.1X to 37 crore in FY24 from 9 crore in FY23 thanks to the 44% size and reduced expenditure. To generate one rupee of opening income, it had to spend 0.89 per unit. Its EBITDA margin was 56.72%, and its ROCE margin was 8.26%.

Through a combination of main and secondary investments, the private equity firm KKR acquired a majority share in Leap India last year. TVS Capital, North Heaven, Mayfield, Morgan Stanley, and other early backers reportedly completely left after that infusion. Morgan Stanley contributed $25 million to the company in 2021.

Leap India was valued at $600 million and has raised more than $180 million so far. The filing states that KKR owns around 78.64% of Leap India, with Madhurima International, Sixth Sense, and First Bridge holding 1.38%, 1.19%, and 0.99% of the company, respectively.