KKR-backed LEAP India rises after UBS starts coverage with 'buy'
Shares of KKR-backed LEAP India rose as much as 3.5% to 145.45 rupees after UBS initiated coverage with a 'Buy' rating and a price target of 175 rupees, citing the supply chain logistics firm's well-placed position in an untapped market.
45 rupees after UBS began coverage of the supply chain logistics firm with a "Buy" rating and a 175 rupees price target. UBS said the company is well positioned in an untapped market, supported by a nationwide network of 28 fulfilment centres and 10,500+ touchpoints. It said movement-hire expansion is a key driver of returns and cash flow. The broker expects penetration to increase to 46% of LEAP's pallet pool by FY31 from 32% in FY26, which it said would improve asset utilisation and ROCE.
It also sees revenue growing about 19% annually and EBITDA nearly 21% over FY26-31. 35% since its listing last month. Reporting by Urvi Dugar in Bengaluru; +91 9558725583.