eTRANS expands reach with RANET4U acquisition
eTrans Solutions, a leading e-logistics and fleet management company, has acquired Bengaluru-based Telematics and IoT company, Ranet4u, previously a subsidiary of Rane Holdings. Ranet4u is now a part of eTrans and is renamed eTrans t4u.
“The combined strength of eTrans and eTrans t4u will significantly enhance our reach, providing a comprehensive technology solutions portfolio with improved efficiency, and value-added services catering to diverse and wider segments across India and globally,” says Shoummo Acharya, Founder & Chairman, eTrans Solutions.
“This acquisition brings about a great strategic fit in terms of product and solutions synergy, and complementary core competencies. eTrans, a pioneer in vehicle tracking and GPS solutions since the last two decades, is now better equipped to deliver greater value with its expanded product and solutions repertoire and a wider geographical reach,” he adds.
The combined portfolio will provide a comprehensive customer-centric solution across e-logistics and transportation. eTrans will enhance its real-time tracking capabilities, improve overall operational efficiency, invest in more cutting-edge technologies, and is also poised to expand its presence in global markets.
eTrans posted a revenue of Rs 20.7 crore in FY 2022-23, a 25% growth over the previous year. The combined revenue of both eTrans and eTrans t4u now stands at Rs 28 crore. “Our target for FY 2023-2024 is to achieve a top line revenue of Rs 40 crore and we are optimistic about achieving an organic turnover of Rs 100 crore within a 3-year horizon,” reveals Acharya.
eTrans, which was set up in 2000, has mainly concentrated on Eastern India, where it follows a robust business model. Plans are afoot to gradually expand to other parts of India. Says Acharya, “Our home-grown company’s vision to create a strong presence beyond our state or country’s boundaries has never wavered, but, unfortunately, the challenges brought about by the pandemic took a toll on the business landscape, and we had to put our expansion plans on hold for a while. Now, after exploring various options, we finally decided to acquire Ranet4u as part of our company’s growth plans. The new company, along with its product and solutions synergy, comes with a host of quality customers in India and a presence in global markets.”
Customers include reputed companies like Tata Steel, Jindal, TML, CESC, etc. Says Acharya, “We enjoy an enduring partnership with our clients who have reposed a lot of trust in us. Over the years we have become the ‘go-to-provider’ in the steel, aluminium, mining, public utility, and gases sectors, as well as among associated logistics and transportation companies.”
“This acquisition brings about a great strategic fit in terms of product and solutions synergy, and complementary core competencies. eTrans, a pioneer in vehicle tracking and GPS solutions since the last two decades, is now better equipped to deliver greater value with its expanded product and solutions repertoire and a wider geographical reach,” he adds.
The combined portfolio will provide a comprehensive customer-centric solution across e-logistics and transportation. eTrans will enhance its real-time tracking capabilities, improve overall operational efficiency, invest in more cutting-edge technologies, and is also poised to expand its presence in global markets.
eTrans posted a revenue of Rs 20.7 crore in FY 2022-23, a 25% growth over the previous year. The combined revenue of both eTrans and eTrans t4u now stands at Rs 28 crore. “Our target for FY 2023-2024 is to achieve a top line revenue of Rs 40 crore and we are optimistic about achieving an organic turnover of Rs 100 crore within a 3-year horizon,” reveals Acharya.
eTrans, which was set up in 2000, has mainly concentrated on Eastern India, where it follows a robust business model. Plans are afoot to gradually expand to other parts of India. Says Acharya, “Our home-grown company’s vision to create a strong presence beyond our state or country’s boundaries has never wavered, but, unfortunately, the challenges brought about by the pandemic took a toll on the business landscape, and we had to put our expansion plans on hold for a while. Now, after exploring various options, we finally decided to acquire Ranet4u as part of our company’s growth plans. The new company, along with its product and solutions synergy, comes with a host of quality customers in India and a presence in global markets.”
Customers include reputed companies like Tata Steel, Jindal, TML, CESC, etc. Says Acharya, “We enjoy an enduring partnership with our clients who have reposed a lot of trust in us. Over the years we have become the ‘go-to-provider’ in the steel, aluminium, mining, public utility, and gases sectors, as well as among associated logistics and transportation companies.”
LIFTING & SPECIALIZED TRANSPORT, SEPTEMBER u2013 OCTOBER 2023
