Mumbai: LEAP India Limited (“LEAP” or “the Company”), India’s largest on-demand asset-pooling platform, today announced its results for the quarter ended June 30, 2026 (“Q1FY27”) – its first quarter performance as a listed company. The results mark a period in which LEAP not only extended its leadership at home but also took its first concrete steps toward becoming a multi-geography pooling platform.

The Company delivered broad-based growth across its core pallet, container and material-handling-equipment (MHE) pooling businesses, even as it continued to integrate its CHEP India acquisition and lay the groundwork for its entry into the Gulf Cooperation Council (GCC) region.

Financial Performance at a Glance – Q1FY27

  • TOTAL INCOME Rs. 2,134 Mn ▲ 19% YoY  
  • EBITDA Rs. 1,141 Mn ▲ 21% YoY | 53.5% Margin  
  • CASH PAT Rs. 812 Mn ▲ 23% YoY | 38.1% Margin
  • PROFIT AFTER TAX Rs. 247 Mn ▲ 30% YoY | 11.6% Margin

Strategic and Business Highlights

Landmark Public Listing

LEAP marked its debut as a listed company with a Rs. 24,800 Mn IPO on August 14th – a milestone that formalizes its position as India’s category leader in on-demand asset pooling. The issue included a fresh issue component of Rs. 4,800 Mn, purposefully deployed: Rs. 3,600 Mn toward debt repayment and Rs. 1,200 Mn towards general corporate purposes.

The effect is a visibly de-levered, more efficient balance sheet – freeing up future cash flow that would otherwise have serviced debt, and giving the Company materially greater headroom to fund its next phase of expansion, whether organic or inorganic, from a position of financial strength rather than constraint.

Marquee Investor Backing

Perhaps the clearest vote of confidence in LEAP’s story is what didn’t change at listing: KKR remains firmly invested, retaining an approximately 35% stake post-IPO. In a market where private equity sponsors typically use an IPO to trim exposure, continuity at this scale is a signal in itself – one of conviction in the platform’s compounding potential, not an exit.

That anchor holding, combined with broader participation from new institutional and public investors through the offering, gives LEAP a shareholder base that is both deep and aligned – precisely the kind of ownership structure investors look for in a company entering its next growth phase as a public entity.

Expanding Asset Base

LEAP’s owned and managed asset base grew 9% to reach 14.9 Mn units – pallets, containers and material-handling equipment pooled across its national network. What stands out is not

the asset growth itself, but its relationship to revenue: income grew more than twice as fast, at 19%, over the same period.

That gap between asset growth and income growth is the clearest evidence of a business sweating its existing pool harder – extracting more revenue per unit deployed rather than simply buying its way to growth. It is the kind of operating leverage that compounds margins as the network scales

Deepening Customer Network

LEAP now serves 1,000+ customers across 10,500 touchpoints nationally, a network built on long-standing relationships with blue-chip manufacturers and retailers who depend on it for mission-critical supply-chain infrastructure. Churn among this base remains below 1% – a retention profile more typical of an annuity business than a logistics-asset provider.

That stickiness matters as much as the headline customer count: it signals a revenue base that is recurring and defensible, and a runway for LEAP to deepen wallet share within existing accounts even before counting a single new customer win.

Profitable Financial Growth

The most recent quarter underscores that LEAP’s growth is translating into genuine earnings quality, not just top-line expansion. Q1 FY27 income grew approximately 19% year-on-year, while Profit After Tax grew meaningfully faster, at approximately 30%.

As fixed network costs are spread across a larger, better-utilized asset base and a growing customer footprint, a greater share of every incremental rupee of revenue is flowing straight through to the bottom line – the hallmark of a scaling platform business.

Key Financial Highlights – Q1FY27 over Q1FY26

Total Income of Rs. 2,134 Mn, an uptick of 19% on a YoY basis

  • EBITDA of Rs. 1,141 Mn, a 21% YoY growth, at a margin of 53.5%.
  • Profit After Tax of Rs. 247 Mn (up 30%); Cash PAT of Rs. 812 Mn (up 23%)
  • Utilization: 89.2% for pallets, 80.9% for MHE and 72.9% for containers
  • Network: ~14.9 Mn pooled assets, serving 1,000+ customers across 10,500+ touchpoints and 28 fulfilment centres, supported by blue-chip relationships and less than 1% churn.

Management Commentary

“We have entered FY27 with two significant milestones – a successful public listing and a strong first-quarter performance.

Our listing marks the beginning of a new chapter for LEAP, enabling us to welcome a wider investor community and engage with shareholders through greater transparency and accountability. We are pleased to have our investors participate in LEAP’s growth journey as we build a larger, more diversified and capital-efficient asset-pooling platform.

Our Rs. 24,800 Mn IPO includes a fresh issue of Rs. 4,800 Mn, of which Rs. 3,600 Mn has been used for repayment of debt and Rs. 1,200 Mn is for general corporate purposes. This will strengthen our balance sheet and provide greater flexibility to support future expansion.

Operationally, FY27 has begun on a strong note, with earnings growing ahead of revenue and demonstrating the operating leverage in our model. On a YoY basis, Q1FY27 revenue increased by 19% year-on-year to Rs. 2,134 Mn, supported by 17% growth in asset-pooling income and 29% growth in MHE income. EBITDA grew faster at 21% to Rs.1,141 Mn, driven by scale benefits, cost optimization and integration synergies, resulting in an EBITDA margin of 53.5%. PAT increased by 30%, well ahead of revenue growth to Rs. 247 Mn, while PAT margin expanded by approximately 104 basis points to 11.6%. This performance reflects an improvement in the quality and efficiency of our earnings.

International expansion represents our next strategic growth vector, with the GCC emerging as a natural extension of our asset-pooling platform given its higher palletisation, automation and movement-hire adoption. We have established wholly owned subsidiary in the GCC in Saudi Arabia & UAE.

Going forward, we will combine deeper customer penetration, movement hire, cross-selling across pallets, containers and MHE, entry into new industries and disciplined GCC expansion to drive sustainable long-term growth.”