LP Logiscience charts growth plan with a CAGR of 30% in the next 5 years

LP Logiscience, the warehousing and contract logistics arm of the 100-year-old legacy brand, Liladhar Pasoo, recently announced an ambitious growth plan, with several new launches and geographical expansions in the pipeline.

Against the backdrop of COVID, the company has already grown 3X times with their multi-client facilities effectively supported with strong tech-enabled operations that helped them to tide over the challenges and thrive during the tough times. Over the next 5 years, the company aims to further accelerate digital adoption, expand its geographical reach and build state-of-the-art warehousing facilities, keeping in mind a growth target of CAGR 30%.

Liladhar Pasoo, the parent legacy brand of LP Logiscience was founded in 1919, and is a leading integrated logistics and supply chain solutions provider in India. LP Logiscience was established a decade ago as the warehousing and transportation business arm of the legendary Liladhar Pasoo group and today handles over 3 million sq. ft of storage space and a reach of 10000+ distribution pin codes PAN India.

Since its inception, LP Logiscience has registered an impressive evolution, growing at the rate of 20% - 25% YoY. Now, in its next phase, the company has plans to set up state-of-the-art warehouses with aggressive tech adoption and greener operations to qualify for environmental certifications that will help the brand to enhance its global reach.

Speaking about the sector at large and the growth trajectory of the company, Varun Gada, Director, of LP Logiscience said, "The inception of LP Logiscience was done with two ideologies. One was to improve the overall standard of warehousing and transform it from the 'godown' methodology to a well-structured, scientific approach to creating state-of-the-art storage facilities, and the second was the effective and timely adoption of technology to enhance efficiency, not only at the warehousing level but across the supply chain network. And we have been successful in the endeavor and the recent global crisis came as an opportunity to prove our resilience and the value we bring to the table for our clients and stakeholders."

Gada added, "With a strong business model supported by an IT backbone, our multiclient warehouse setup offers customization, and flexibility where our clients can continue to enjoy superior services while only paying for the storage volume and throughput which has now become the natural extension of our business model. It is safe to say that we have an esteemed list of clientele that not only values and appreciates the innovations that we bring to their business but is also equally thrilled to experiment and collaborate to solve new challenges with tech-led solutions. In the coming years, we aim to continue evolving and leading the transformation of the sector, through tech-enabled smart operations, and aim to grow at a CAGR of 30%, while also being focused on reducing carbon footprint while driving business efficiency."

Apart from all the standard WMS features of expiry, FIFO, and location management, LP Logiscience has also created its own customized solutions for its operations and a few industry-specific solutions.

Additionally, all their warehouses are cloud-connected, including handheld terminals that are used for all warehouse processes, and have a plethora of tech features, including ERP integration for clients, apps for sales teams showing the available inventory at the warehouse, a shipment tracking apps (TMS control tower), sales revenue monitoring with analytics and monthly division-wise sales target %, LP's own EHS app for internal use by the operations team, raising safety concerns and suggestions, and a cloud repository of MSDS and COA for their specialty chemical customers. In addition to the above, their time to set up a new warehouse for a new client is just 12 hours in their WMS, which plays a vital role when business continuity is of significance.

With the above infrastructure and processes in place, LP Logiscience is now set to work towards creating greener warehousing solutions with its Triple Zero sustainability policy. Through Vehicle-Integrated PhotoVoltaics, the company is investing in R&D with EV vehicles so as to remove all dependency on grid charging. Apart from solar power generation in warehouses, they are also exploring roof panels that are already solar ready and the original steel roof of the warehouse is not required at all.

Rainwater harvesting and recycling through water treatment plants are also on the list to ensure they are able to reach close to a net zero water utilization for housekeeping and gardening purposes.

In the next three years, the company aims to bring its state-of-the-art warehouses to tier-two towns and metros with faster go-to-market access, like Lucknow, Coimbatore, Hyderabad, Bangalore, Kolkata, and Surat while also introducing newer warehouses in Mumbai and Delhi.

LP Logiscience also has long-standing partnerships with industry leaders for transportation and an enviable roster of long-standing client relationships with brands like Asian Paints, UPL Ltd, Total Energies, IMCD, Pidilite Industries, Momentive Performance Material, and Nivea India among others.