Om Logistics Limited
Instrument Amount Rating Action
In Crore November 2015
Commercial Paper/ Short 20.00 [ICRA]A1+ suspended
Term Debt Programme
Cash Credit Facilities 83.00 [ICRA]A+ (Stable) suspended
Term Loan Facilities 45.91 [ICRA]A+ (Stable) suspended
Non-Fund Based Facilities 3.75 [ICRA]A+ (Stable) suspended
Unallocated 8.09 [ICRA]A+ (Stable) suspended
Overdraft 5.00 [ICRA]A1+ suspended
“ICRA has suspended [ICRA]A+(stable)/ [ICRA]A1+ rating assigned to the Rs.145.75 Crore fund and
non-fund based facilities of Om Logistics Limited. ICRA has also suspended [ICRA]A1+ rating
assigned to the Rs.20.0 Crore Commercial Paper (CP)/ Short Term Debt Programme (STD) of Om
Logistics Limited. The suspension follows ICRA’s inability to carry out a rating surveillance in the
absence of the requisite information from the company.
According to its suspension policy, ICRA may suspend any rating outstanding if in its opinion there is
insufficient information to assess such rating during the surveillance exercise. ICRA will withdraw the
rating in case it remains under suspension for a period of three years".
Company Profile
The Om Group of companies commenced providing logistics services in 1990 through Om Auto
Carriers (OAC), a sole proprietorship firm. OAC was engaged in the transportation of finished vehicles
from car manufacturers to dealer outlets. Om Air Freight Limited (OAFL) was launched in 1995 to
supplement the road transportation business and provide door-to-door air cargo services. Thereafter,
the group set up Om Logistics Limited (OLL) in 1999 to focus on third-party logistics (3PL), wherein all
group logistics related activities were shifted, besides enhancing the portfolio across more clients and
segments.
OLL, the flagship company of the Om Group, is a multi-modal (surface, rail, air) logistics company,
which provides integrated logistics services for all the elements of the supply chain management like
transportation, warehousing, inventory management and value-added processes. The company
primarily deals with corporate clients and derives over 55% of revenues from the auto sector. In
November 2007, Merrill Lynch International invested Rs. 60.0 Crore in OLL in the form of CCCPS with
the second tranche of Rs. 20.0 Crore invested in April 2008. These proceeds were utilized by the
company towards the acquisition of Cross Road Logistics Private Limited (later renamed Om Telecom
Logistics Private Limited (OTL)), fleet expansion and purchase of land aimed at expanding the
warehouse network of the company.
November 2015
For further details, please contact:
Analyst Contacts:
Mr. Subrata Ray (Tel. No. +91 22 6114 3408)
subrata@[Link]
Relationship Contacts:
Mr. Vivek Mathur (Tel. No. +91-124-4545310)
vivek@[Link]
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