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CJ Darcl Logistics Joins Hands With Tata Motors To Set New Benchmarks In The Indian Logistics Segment

India, 12th October 2023: CJ Darcl Logistics Limited (“CJ Darcl”), a diversified logistics company in India, signs a Memorandum of Understanding (MoU) with Tata Motors Limited (“Tata Motors”), strategic engagement to strengthen and enhance CJ Darcl’s fleet of vehicles and explore options of logistics services. The MoU was signed on 11th October 2023, in the presence of Mr. Krishan Kumar Agarwal, Managing Director of CJ Darcl Logistics Limited; Mr. Kang Sin Ho, CEO of CJ Logistics Corporation; Mr. Girish Wagh, Executive Director of Tata Motors Limited and Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors.

Post the MoU, the companies would deliberate on possibilities to enhance CJ Darcl’s fleet and make their operations greener. The engagement also intends to make CJ Darcl’s operations more efficient with comprehensive annual maintenance contracts, dedicated service team and streamlined after-sales processes. With Tata Motors advanced trucks and expertise in fleet management through value-additions, telematics systems and service network, CJ Darcl aims to set new benchmarks in the Indian logistics industry.

On this occasion, Mr. Kang Sin Ho, CEO of CJ Logistics Corporation said, “India has been a dynamic market for logistics and is anticipated to remain a growth outperformer. According to CRISIL MI&A, India’s GDP is expected to grow at an average of 6.1% between fiscal 2025 and 2027, compared with 3.1% globally as estimated by International Monetary Fund. In this direction, the Indian government introduced the Gati Shakti Scheme, National Logistics Policy, Bharatmala Pariyojana, and Sagarmala which became the key enablers of logistics in India. Further to bolster our efforts to provide logistics solutions, we have collaborated with Tata Motors Limited. This is aimed at bringing operational efficiency to the forefront. The engagement will focus on evaluating cost-effective vehicle deployment to strengthen CJ Darcl’s fleet, whilst providing on-ground support.”

Mr. Krishan Kumar Agarwal, Managing Director of CJ Darcl Logistics Limited, commented, “We are delighted to announce the strategic alliance between CJ Darcl Logistics and Tata Motors Limited. This will help the company in procurement of trucks in the next 5 years and improve the vehicle management system subsequently paving a way for use of alternative fuel vehicles”.

Commenting on the momentous occasion, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors, said, “At Tata Motors, we aim to create and deliver value keeping in mind the evolving needs of our customers. This MoU is a cornerstone in our commitment to revolutionise the transportation industry. Tata Motors trucks are engineered with a focus to offer the low total cost of ownership with efficient powertrains and are equipped with state-of-the-art features like an advanced telematics system – Fleet Edge and come with value additions that ensure highest uptime for higher profitability to our customers. With CJ Darcl, we are poised to redefine the landscape of transportation, fostering innovation and efficiency.”

The ceremony was also graced with the esteemed presence of Mr. Anand Bang, Chief Operating Officer, Tata Motors Finance Ltd.

About CJ Darcl Logistics:

CJ Darcl provides diversified logistics services with multimodal capabilities in India with market leadership in full truckload (‘FTL’) segment. It has pan-India operations with multimodal capabilities. The company caters to – Road/FTL, Rail/Multimodal,Air Cargo and Shipping/Coastal transportation. We offer services such as project logistics, warehousing and distribution (‘W&D’), and freight forwarding solutions to our customers. We lay a strong emphasis on technology adoption which enables us to deliver improve operational efficiency, quality of our services, and establish relationships with our customers and vendors.

DISCLAIMER

CJ Darcl Logistics Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares (the “Equity Shares”), and has filed a draft red herring prospectus dated September 27, 2023 (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”) on September 28, 2023.The DRHP is available on the website of SEBI at www.sebi.gov.in and the website of the book running lead managers, i.e., ICICI Securities Limited, Axis Capital Limited and Mirae Asset Capital Markets (India) Private Limited at www.icicisecurities.com, www.axiscapital.co.in and https://cm.miraeasset.co.in/, respectively and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively. Further, the DRHP is available on the website of CJ Darcl Logistics Limited at https://cjdarcl.com/investor-relations/.

Any potential investor should note that investment in Equity Shares involves a high degree of risk. Specific attention is drawn to “Risk Factors” on page 32 of the DRHP. Any decision to invest in Equity Shares described in the DRHP may be made only after the red herring prospectus has been filed with the Registrar of Companies, Delhi and Haryana (“RoC”) and must be made solely on the basis of such RHP as there may be material changes from the DRHP to the RHP.

CRISIL Market Intelligence & Analytics (CRISIL MI&A), a division of CRISIL Limited (CRISIL) has taken due care and caution in preparing this report (Report) based on the Information obtained by CRISIL from sources which it considers reliable (Data). This Report is not a recommendation to invest / disinvest in any entity covered in the Report and no part of this Report should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. Without limiting the generality of the foregoing, nothing in the Report is to be construed as CRISIL providing or intending to provide any services in jurisdictions where CRISIL does not have the necessary permission and/or registration to carry out its business activities in this regard. CJ Darcl Logistics Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the Report or part thereof outside India. CRISIL MI&A operates independently of and does not have access to information obtained by CRISIL Ratings Limited, which may, in their regular operations, obtain information of a confidential nature. The views expressed in this Report are that of CRISIL MI&A and not of CRISIL Ratings Limited. No part of this Report may be published/reproduced in any form without CRISIL’s prior written approval.

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