Leap India Limited · NSE:LEAPIND
Leap India — Q2 FY27 Earnings Presentation
52 slides from Leap India's earnings presentation, Oct 26, 2026
Slide 1: Exchange cover letter for results press release
Date: October 26, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phirozee Jeejeeboy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Mumbai – 400001. Bandra (East), Mumbai – 400051 Scrip Code: 544865 Symbol: LEAPIND Dear Sir/
Slide 2: LEAP India delivers profit growth nearly 3x faster than revenue in Q2FY27
LEAP India delivers profit growth nearly 3x faster than revenue in Q2FY27 Q2FY27 Income Rises 23%; PAT Surges 62% | H1FY27 PAT up 42% on 21% Income Growth Acquires Vimprotech and TIPS to build an End-to-End Packaging Platform Mumbai, October 26, 2026 (NSE: LEAPIND | BSE: LEAPIND) LEAP India Limited
Slide 3: Acquisitions, credit upgrade and key financial highlights
making and multi-process plastics manufacturing across two units in Puducherry and Tamil Nadu, while TIPS adds a high-margin automotive container pooling business with four warehouses across Bangalore, Nashik and Tirunelveli. Together, the businesses contribute Rs. 650 Mn in FY26 revenue with 200+ c
Slide 4: Management commentary on growth and acquisitions
Much of this growth has been driven by the strength of our underlying business. We now serve over 1,100 customers across 11,000+ touchpoints, and churn remains below 0.5%. In the quarter, asset- pooling income grew 19% and MHE income 52%. The strategic acquisitions of Vimprotech and TIPS mark a sign
Slide 5: LEAP India Limited Q2 & H1FY27
LEAP India Limited Investor Presentation Q2 & H1FY27 October 2026
Slide 6: Safe Harbor & Disclaimer
SAFE HARBOR & DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by LEAP India Limited (“LEAP” or the company) that are not historical in nature. These forward-looking statements, which may include statements 01 relating to future results of operations
Slide 7: Table of Contents
TABLE OF CONTENTS 01 Quarterly & Half-yearly Financial Performance » 02 New Business Development » 03 Annual Financial Performance » 04 Business Overview » 3
Slide 8: Executive Commentary
EXECUTIVE COMMENTARY "I'm pleased to share that our profits have continued to grow well ahead of our revenue. In Q2FY27, PAT grew by 62% while income grew 23%, and for the first half, PAT was up 42% on 21% income growth. This performance is a clear demonstration of the operating leverage we have bui
Slide 9: Quarter & Half-yearly Financial Performance
Section 3: Strategic levers to capture 01. market growth Quarter & Half-yearly Financial Performance
Slide 10: Q2FY27: Profits Outpaced ~3x Faster than Revenue
Q2FY27 : Profits Outpaced ~3x Faster than Revenue Q2FY27 PERFORMANCE ON A YOY BASIS Topline Growth 1 Q2FY27 Income grew ~23%, driven by 19% growth in asset-pooling income and 52% growth in MHE income Total Income Total Assets 2 Improved Profitability ₹2,159 Mn 15.5 Mn Q2FY27 Income grew ~23%, while
Slide 11: H1FY27: From IPO to Impact
H1FY27 : From IPO to Impact – Stronger Financials & Clear Growth Trajectories H1FY27 PERFORMANCE ON A YOY BASIS KEY FINANCIAL HIGHLIGHTS Profitable Financial Growth H1FY27 Income grew ~21%, while PAT increased faster at ~42%, reflecting Total Income Total Assets operating leverage, cost optimization
Slide 12: Scaling the Asset Base, Sustaining High Utilization
Scaling the Asset Base, Sustaining High Utilization Total Assets (Qty Mn) Pallet Utilisation Rate% 15.5 89.3% 89.3% 89.3% 14.7 13.8 SEP'25 MAR'26 SEP'26 SEP'25 MAR'26 SEP'26 Container Utilisation Rate% MHE Utilisation Rate% 73.7% 82.2% 79.8% 82.3% 71.7% 71.7% SEP'25 MAR'26 SEP'26 SEP'25 MAR'26 SEP'2
Slide 13: Bigger Pool, Wider Reach
Bigger Pool, Wider Reach Total Income (INR Mn) 48 (1%) Total Asset breakup H1FY27 H1FY26 62 (2%) 741 (17%) 9.5 mn 528 (15%) +21% +1.0 Mn 8.6 mn 6.0 mn 2,971 (83%) 3,505 (82%) +0.7 Mn 5.3 mn H1FY26 H1FY27 4,615 3,403 +1,212 ₹3,562 Mn ₹4,294 Mn *Only MHE excl. HOPT 1,450 H1FY27 vs 1,289 H1FY26 Custome
Slide 14: Leveraging Growth, Improving Returns
Leveraging Growth, Improving Returns Built for sustainable long-term value creation. DEBT TO EQUITY (x) RETURN ON CAPITAL EMPLOYED ^ (%) 1.0x 1.0x 19.1% 20.5% 17.4% 0.5x H1FY26 FY26 H1FY27 H1FY26 FY26 H1FY27 CASH RETURN ON EQUITY ^ (%) LEAP has war chest of ~INR 1,100 mn parked as investment 25.4% 2
Slide 15: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement ` Quarterly Financials Half-yearly Financials ₹ Mn Q2 FY27 Q2 FY26 Y-o-Y H1 FY27 H1 FY26 Y-o-Y Revenue from Operations 2,112 1,787 18.2% 4,146 3,495 18.6% Other Income 47 -25 292.4% 148 67 120.1% Total Income 2,159 1,762 22.5% 4,294 3,562 20.6% Total expenses 1,0
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (₹ Mn) H1FY27 H1FY26 Liabilities (₹ Mn) H1FY27 H1FY26 Non-current assets 19,935 17,402 Total Equity 15,111 9,493 Property, plant and equipment 16,265 13,613 Equity share capital 441 121 Capital work-in-progress 12 182 Instruments entirely equity in nature 3,155 Righ
Slide 17: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement ₹ Mn H1 FY27 H1 FY26 Profit before tax 568 401 Operating profit before working capital changes 2,219 1,825 Net cash generated from operating activities (A) 3,140 1,246 Purchase of Property plant & equipment net of sales (2,242) (1,896) Purchase consideration paid tow
Slide 18: New Business Developments
Section 3: Strategic levers to capture 02. market growth New Business Developments
Slide 19: Strengthening Capabilities Through Acquisitions
Strengthening Capabilities Through Acquisitions TWO STRENGTHS. ONE BIGGER IMPACT. What do these acquisitions bring to LEAP? Vimprotech enhances backward integration through in-house mould design and manufacturing capabilities, while TIPS broadens LEAP India’s customer base and product portfolio, acc
Slide 20: Vimprotech – Unlocking New Capabilities for LEAP
Vimprotech – Unlocking New Capabilities for LEAP Enhancing in-house precision manufacturing Value chain & MOAT: Concept to Pooled asset under one roof ~₹470 Mn Design & FY26 revenue Innovation Tooling Moulding Production Sales Complete In-House Value Chain: By integrating capabilities from Product D
Slide 21: TIPS: A High Margin Pooling Engine for LEAP
TIPS: A High Margin Pooling Engine for LEAP Tailor-made Automotive business added to LEAP What TIPS does Business Model Why it fits LEAP 15.5 Mn+ Pooling Increasing automotive vertical to LEAP’s pooled asset base Reusable crates, lids & inserts for Auto customers; ~0.25 Mn asset capacity 27 | 11,000
Slide 22: The Value Creation Roadmap
The Value Creation Roadmap Bigger Reach. Stronger Together. 1. Expanded Business Reach 2. Synergies Roadmap 3. Structure Broader customer base. Wider geography. More industries. Operational, commercial and financial synergies to unlock value. Vimprotech + LEAP Metric TIPS Existing platform Target (p
Slide 23: Annual Financial Performance
Section 3: Strategic levers to capture 03. market growth Annual Financial Performance
Slide 24: Annual Consolidated Profit & Loss Statement
Annual Consolidated Profit & Loss Statement ₹ Mn FY23 FY24 FY25 FY26 CAGR Revenue from Operations 2,534 3,650 4,665 7,295 42.3% Other Income 48 70 186 178 Total Income 2,582 3,719 4,850 7,474 42.5% Total expenses 1,319 1,620 2,112 3,685 EBITDA 1,263 2,099 2,738 3,788 44.2% EBITDA margin% 48.9% 56.4%
Slide 25: Annual Consolidated Balance Sheet
Annual Consolidated Balance Sheet Assets (₹ Mn) FY23 FY24 FY25 FY26 Liabilities (₹ Mn) FY23 FY24 FY25 FY26 Non-current assets 9,407 11,115 16,054 18,699 Total Equity 5,694 7,142 9,173 10,063 Property, plant and equipment 8,058 9,750 12,293 14,807 Equity share capital 21 27 30 121 Instruments entirel
Slide 26: Annual Consolidated Cash Flow Statement
Annual Consolidated Cash Flow Statement ₹ Mn FY23 FY24 FY25 FY26 Profit before tax 98 467 521 809 Operating profit before working capital changes 1,297 2,080 2,577 3,760 Net cash generated from operating activities (A) 1,530 1,491 2,550 2,683 Purchase of Property plant & equipment net of sales (1,00
Slide 27: Business Overview
Section 3: Strategic levers to capture 04. market growth Business Overview
Slide 28: #1 On Demand Asset Pooling Provider in India
#1 On Demand Asset Pooling Provider in India Pay per use, procure as and when it is required, and hire-dehire anywhere FINANCIAL PERFORMANCE AS OF FY26 (CONSOLIDATED) Total Income EBITDA Cash PAT PAT EBITDA MARGIN ROCE 43 ₹7,474 Mn 44 ₹3,788 Mn 48 ₹2,667 Mn 91 ₹623 Mn 177 51% 409 19%+ % % % % bps bp
Slide 29: Journey to Becoming a Market Leader
Journey to Becoming a Market Leader Accounts for 90% market share in Indian Pallet Pooling market. CHEP India Total Income (₹m) Acquisition Acquisition 100% Subsidiary 2013 1 24 122 370 691 1254 1720 1767 2130 2582 3719 4850 7474 4294 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 202
Slide 30: Scaling With Profitability
Scaling With Profitability Income growth 3× since FY23, while reported PAT expanded 7× with EBITDA margins sustaining above 50%. TOTAL INCOME (₹ Mn) EBITDA (₹ Mn) & Margin % 48.9% 56.4% 56.5% 50.7%** 42.5% 43% 7,474 CAGR FY23-FY26 44.2% 43% 3,788 CAGR FY23-FY26 2,738 4,850 2,099 1,263 3,719 2,582 FY
Slide 31: Robust Asset Base, Over the Years
Robust Asset Base, Over the Years Growing Asset base with high Asset utilization Total Assets (Qty in Mn) Pallet Utilisation Rate % 14.7 87.9% 87.8% 87.5% 89.3% 13.3 7.9 6.9 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Container Utilisation Rate %* MHE Utilisation Rate % 76.0% 71.7% 66.2% 82.5% 81.5% 79.
Slide 32: Leveraging Growth, Improving Returns
Leveraging Growth, Improving Returns Built for sustainable long-term value creation. DEBT TO EQUITY (x) RETURN ON CAPITAL EMPLOYED (%) 1.0x 0.9x 20.3% 18.0% 19.1% 0.7x 15.0% 0.6x 0.4x FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Post-IPO * CASH RETURN ON EQUITY (%) LEAP has war chest of ~INR 1,100 mn par
Slide 33: Why Palletization?
Why Palletization? Palletization turns individual pieces into a single, standardized unit - unlocking efficiency, safety and savings across operations. Higher Volume and Scale Automation of Supply Chain Grade A warehousing 01 02 03 and Vertical Stacking Faster truck turnaround and lower Rapid adopti
Slide 34: India's Underpenetrated, But Huge Headroom to Grow
India’s Underpenetrated, But Huge Headroom to Grow 17% palletization & 9.4% pooling penetration implies India’s structural runway, LEAP’s ~90% market share positions it at the forefront of organized adoption. Palletization and pallet pooling are underpenetrated in India* Globally, the pallet industr
Slide 35: While India Has the Headroom, LEAP Has the Lead
While India Has the Headroom. LEAP Has the Lead Indian pallet pooling market is at nascent stage & expected to grow ~15% CAGR FY26-31, LEAP’s current market share ~90%+ 106 Mn Units FY26-FY31E CAGR for pooling pallet Total Industry Pallets In India as of FY26 14.9% From 10 Million units to 20Million
Slide 36: Our Share-and-Reuse Business Model (1/2)
Our Share-and-Reuse Business Model (1/2) For customers Pay-per-Use model. For LEAP Annuity Income. We offer flexible pooling solutions tailored to how our customers operate. Both models leverage the same network, infrastructure and asset quality. Phase I Next Level STATIC HIRE Assets remain at the c
Slide 37: The Next Leg of Growth (2/2)
The Next Leg of Growth (2/2) One pallet. Multiple movements. Recurring revenue. 1 3 Next Move - Expanding across e-com/Supermarkets to further many dark stores and large retailers Next Level 2 5 4 Phase II MOVEMENT HIRE 6 Assets circulate across multiple supply chain partners Billing Typical use cas
Slide 38: Why Customers Choose Us?
Why Cusomers Choose Us? One pallet catering different needs and Multiple Segments. Food & E-Com & Industrials & FMCG 3PL Beverages Q-Com Others Companies with high ROCE prefer to be Companies with asset light & don't own pallets high ROCE Companies keep lean pallets inventory in stock and lease Seas
Slide 39: Tech-Enabled, Professionally Managed. Fully Accountable
Tech-Enabled, Professionally Managed. Fully Accountable Every asset. Every movement. Every day. LEAP manages the asset lifecycle after delivery — with visibility, control and accountability. Input Tracking Platform Tracking Integration Layer Value Layer Driving operational Asset Tracking via RFID &
Slide 40: Our Strategic Priorities
Our Strategic Priorities Overall, To Achieve Profitable Growth Replicating success stories Industries adopting Integrating across customers palletization in India value chain Expansion Penetration Penetration within in new across the existing industries supply chain industries Strategic innovative p
Slide 41: Success Story with a Leading Dairy Co-operative
One of Our Success Stories with a Leading Dairy Co-operative How LEAP helped them scale: 8x Pool Growth. 12x Revenue Growth. Remarkable Growth in Action. PRE-PALLETISATION THE CHALLENGES BEFORE EFFICIENCY PALLETISED LOADING THE SMARTER, FASTER & SAFER WAY Manual Hand Balling; High High time at dock
Slide 42: Another Success Story – Pioneer in Textiles Movement Hire
Another Success Story – Poineer in Textiles Movement Hire 3x Pool Growth. Sustainable packaging. Strongly adopted by other textile players PRE-PALLETISATION THE CHALLENGES BEFORE EFFICIENCY PALLETISED LOADING THE SMARTER, FASTER & SAFER WAY HIGHER COSTS. LOW EFFICIENCY. MORE RISKS LOWER COSTS, HIGHE
Slide 43: Strategic Acquisitions
Strategic Acquisitions Inorganic opportunities to build capabilities, diversify portfolio and growth Consolidated position in the asset pooling industry by acquiring CHEP Expanding product offering and including diverse range of assets CHEP (FY25) (FY23) ~90% market share captured and made LEAP #1 m
Slide 44: The Next Growth Frontier – Expansion to GCC
The Next Growth Frontier – Expansion to GCC MHE’s flow-based model drives high asset turnover, supporting further geographic expansion. Having built a dominant position in wooden pallet pooling in India, LEAP is evaluating the GCC as its next growth market Why GCC? Movement-hire model already preval
Slide 45: Sustainability Embedded, ESG-Led Growth
Sustainability Embedded, ESG-Led Growth More efficiently LEAP circulates assets, the lower its resource consumption and carbon output 01 ONE WAY PALLETS 02 CORRUGATED BOXES 03 NON-RENEWABLE FUEL RESUSABLE PALLETS RESUSABLE CONTAINERS LITHION-ION FORKLIFTS Every pallet pooled, repaired, and reissued
Slide 46: Experienced Management
Experienced Management Founder Led Company with Experienced Board & Strong Management Committee Experienced Board of Directors Hardik Bhadrik Shah Vaibhav Vaidya Non-Executive Director Non-Executive Director 20+ Years Experience 13+ Years Experience KKR | Macquarie | Brookfield KKR | Motilal Oswal |
Slide 47: Maintaining Highest Level of Corporate Governance
Maintaining Highest Level of Corporate Governance Engaging with top professionals and industry leaders STATUTORY AUDITOR INTERNAL AUDITOR CREDIT RATING AGENCY Rated as A+ BANKING PARTNERS 43
Slide 48: Awards & Recognition
Awards & Recognition Recognized for excellence and leadership in the industry The Game Changer - SAP ACE Award by PwC Times Now Impactful CEO Award Influential Leaders of India Sustainable Business of the Year 2025 ISO 27001:2022 Certification Brand of the Year Best innovation in Best Innovation mat
Slide 49: Employee Engagement
Employee Engagement Building a connected, inclusive and engaged workplace 45
Slide 50: Corporate Social Responsibilities
Corporate Social Responsibilities Creating a positive impact across communities and society Supporting Our Communities Building a Safer & Brighter Future Empowering Women Support for Children through Transport Actively supported learning Donation of Pink Auto to centers like Dhanak School female ent
Slide 51: Financial Glossary
Financial Glossary Term Description Pallet utilization rate denotes the rolling 12-months average of month-end pallet stock deployed at customer locations, benchmarked against the total Pallet Utilization number of pooling pallets owned by the company over the same period. Container utilization rate
Slide 52: Thank You
Thank You @ LEAP India Limited (Formerly known as LEAP India Pvt. Ltd.) Commerz, 14th Floor, International Business Park, Oberoi Garden City, Off Goregaon (East), Mumbai, © +91 (022) 6958 8700 G4 [email protected] www.leapindia.net ern Express Highway,