KKR-backed LEAP India rises as UBS starts coverage with 'buy'

LEAP India

21/09/2026 04:58

** Shares of KKR-backed LEAP India LEAN.NS rise as much as 3.5% to 145.45 rupees
** UBS initiates coverage on supply chain logistics firm with "Buy" rating, 175 rupees PT
** Says co is well placed in an untapped market, supported by a nationwide network of 28 fulfilment centres and 10,500+ touchpoints
** Notes movement-hire expansion as key driver of returns and cash flow 
** Penetration expected to rise to 46% of LEAP's pallet pool by FY31 from 32% in FY26, improving asset utilisation and ROCE
** Expects revenue to grow about 19% annually and EBITDA nearly 21% over FY26-31
** Stock up 0.35% since listing last month 

(Reporting by Urvi Dugar in Bengaluru)
((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))