LEAP India Limited reported a 30% year-on-year increase in profit after tax (PAT) to ₹247 Mn for the quarter ended June 30, 2026. Management guided for 20% plus year-on-year revenue growth, driven by strong customer acquisition and operational efficiency.

The on-demand asset-pooling platform delivered broad-based growth across its core businesses, with total income rising 19% to ₹2,134 Mn. Earnings quality improved as EBITDA expanded 21% to ₹1,141 Mn, driving an EBITDA margin of 53.5%. Cash PAT grew 23% to ₹812 Mn.

Financial Performance

Revenue from operations stood at ₹2,034 Mn, up 19.1% from ₹1,708 Mn in the prior year period. Other income contributed ₹100 Mn, a 9.4% increase. Finance costs rose 11.8% to ₹247 Mn, while depreciation and amortisation increased 20.5% to ₹565 Mn.

What the Numbers Show

LEAP India demonstrated significant operating leverage in Q1FY27. While the owned and managed asset base grew by only 9% to 14.9 Mn units, total income accelerated at nearly double that rate (19%). This divergence indicates higher revenue generation per deployed unit rather than growth driven purely by asset acquisition. Additionally, MHE pooling income surged 29%, outpacing the 17% growth in core asset-pooling income, signalling successful cross-selling within the existing customer network.

Strategic Developments

The company completed a ₹24,800 Mn IPO on August 14, 2026. Of this, a fresh issue component of ₹4,800 Mn was allocated primarily for debt repayment (₹3,600 Mn) and general corporate purposes (₹1,200 Mn). This capital injection reduced the debt-to-equity ratio from 1.0x in FY26 to 0.4x post-IPO.

Private equity sponsor KKR retained an approximate 35% stake post-listing, maintaining its position as a major shareholder. LEAP now serves over 1,000 customers across 10,500 touchpoints, with customer churn remaining below 1%.

Operational Metrics & Guidance

Asset utilisation remained robust despite the expansion of the pool:

• Pallet utilisation: 89.2%
• MHE utilisation: 80.9%
• Container utilisation: 72.9%

Management highlighted the integration of the CHEP India acquisition and initial steps toward expanding into the Gulf Cooperation Council (GCC) region as key strategic priorities for FY27. The company signed 48 new customers in Q1FY27, significantly higher than the typical quarterly rate of 18 to 20. Movement Hire pallets increased 8% to 766,000, while MHE revenue grew 33% to ₹35.3 crore.

Working capital efficiency improved, with days sales outstanding (DSO) reducing from 131 days to 119 days. Management expects to reduce DSO by 10 to 15 days each quarter. Capex deployment was cautious at ₹76 crore, down from ₹110 crore in the same period last year, due to higher raw material costs and geopolitical caution in GCC markets.

Leap India Limited has released the audio recording of its earnings conference call discussing financial performance for the first quarter of fiscal year 2027. The session was held on Tuesday, September 1, 2026.

The company announced the availability of the recording pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Leap India filed the intimation with both the BSE and NSE listing departments on September 1, 2026.

Conference Call Details

Go India Advisors hosted the event. Key company executives participating in the discussion included:

• Sunu Mathew, Chairman, Managing Director, and CEO
• Rajesham Alle, Chief Financial Officer
• Hrishi Gandhi, Chief Growth Officer

The call originally took place at 11:00 am. Investors were advised to pre-register to avoid wait times during the live session.

Audio Recording Access

The audio recording is now accessible via the company's official website. Interested parties can listen to the discussion using the link provided on www.leapindia.net .

Contact Information

For further inquiries regarding the conference call or the recording, interested parties may contact the advisors: