DRS Dilip Roadlines Ltd Company Summary

DRS Dilip Roadlines Ltd Summary

DRS Dilip Roadlines Limited was incorporated as a Private Limited Company with the name DRS Dilip Roadlines Private Limited on July 10, 2009. The status of the Company was changed to a Public Limited Company and the name of the Company was changed to DRS Dilip Roadlines Limited on September 06, 2018. The Company is engaged in the business of providing high quality logistics services including transportation, packing & moving and renting of warehouses. The Company is surface transporters and provides only goods transportation services. It provides Full truck loaded FTL services to all their customers for transporting goods. As on July 15, 2018 the company operates and own a fleet of 327 trucks in the name of the Company and have capacity to hire 649 vehicles. The Company operates through different types of closed container trucks on the basis of size and capacities. The variety of goods transportation vehicles in their fleet also enables them to serve a diverse mix of consignments. The packing and moving business is carried under brand name of Agarwal Packers and Movers which has become renowned name in household relocation across the country. Further, the brand Agarwal Packers and Movers is not owned by the Company. Also, it is used by their relatives (disassociated promoter group members). The Company Law Board, Chennai vide its consent terms dated November 14, 2014 the status quo of Right to use this tradename is with both families / groups and the dispute over the use of this tradename has not reached any conclusion. Hence, the company continues to operate their packing and moving business under the brand Agarwal Packers and Movers.For packing and moving services the Company owns composite container vehicle specially designed to suit the household shifting called CHAPP VAN (Car, Households, Artifacts, Plants and Pets). This new-concept composite container vehicle supports transport of Car, Household, Artifacts, Plants and Pets all in one i.e. there is space demarcated for each and every item and ensures better safety and ease of handling varied items. There is also provision for one person to travel with the vehicle, in case the customer so desires. The brand Agarwal Packers and Movers (DRS Group) has been recognized by Limca Books of Records, for CHAPP VAN. The Company also owns warehouses in South India. It has currently rented their warehouses to some of the major Corporates. The Company has tie ups with some of the major corporate houses for their transporting services.The Company acquired 100% stake in DRS Warehousing (South) Pvt Ltd in 2016-17, and it became the subsidiary of the Company.The Company made an IPO of 42,00,000 Equity Shares by raising an amount of Rs.31.5 Crores from the public in November, 2018.In 2017-18, the Company merged with the wholly owned subsidiary, DRS Warehousing (South) Pvt Ltd. through the Scheme of Amalgamation and made it effective on 1st April, 2017.The Company acquired 100% stake in DRS.Cargo Movers Private Limited, thus making it wholly owned subsidiary in FY 2021-22.In 2023, the Warehouse Division of the Company was segregated and demerged into wholly owned subsidiary, i.e., DRS Cargo Movers Limited through the Scheme of Arrangement effective from 01.04.2022 as a going concern basis.