India's Richest People 2026 edition · 1 director · Source: Hurun India
- #437 Rakesh Ramanlal Shah & family ₹8,200 Cr
Revenue · FY 2024
₹7.85 Lakh
▲ 5% YoY
Net loss · FY 2024
₹5.4 Lakh
Net margin -68.8%
EBITDA · FY 2024
₹7.76 Lakh
EBITDA margin 98.9%
Authorised capital
₹5 Lakh
Registered with MCA
Paid-up capital
₹5 Lakh
Issued & subscribed
Open charges
₹21 Cr
Satisfied ₹21 Cr
Company age
20 yrs
Est. 2006
Directors on board
3
As per MCA filings
About Gsec Logistics Limited
Data last updated:
Gsec Logistics Limited is a public limited company based in Ahmedabad, Gujarat, India, a subsidiary of Gsec Limited. It operates in the port infrastructure and development segment of the infrastructure and utilities sector. It was incorporated on 07 September 2006 and has been in existence for over 20 years.
Its director Rakesh Ramanlal Shah and family are #437 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U62200GJ2006PLC049049.
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹5 Lakh. It was formerly known as Gsec Logistics (Indore) Limited. It is led by directors including Samir Mankad Hanskumar and Rakesh Shah Ramanlal.
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 2nd Floor Gujarat Chamber'S Building Ashram Road, Ahmedabad, Gujarat, India – 380009.
As per the financials filed for FY 2024, the company reported a revenue of ₹7.85 Lakh, a growth of 5% compared to the previous year. For the same year it recorded a net loss of ₹5.4 Lakh (net margin -68.8%) and EBITDA of ₹7.76 Lakh (EBITDA margin 98.9%). Revenue has grown at a compounded annual rate (CAGR) of 168% over three years and 6% over five years.
The company is associated with 1 brand: GSEC. As per MCA filings, the company has open charges of ₹21 Cr and satisfied charges of ₹21 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gsecl.co.in.
Company details
CIN U62200GJ2006PLC049049
Registration Number 049049
Incorporation Date 07 September 2006
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Date of Last AGM 25 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Gsec Limited
Compliance Status Active Compliant
Recognitions & Rankings of Gsec Logistics
Contact details
Gsec Logistics Limited's registered office is in Ahmedabad, Gujarat. Its website is gsecl.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address2nd Floor Gujarat Chamber'S Building Ashram Road, Ahmedabad, Gujarat, India – 380009
- IndustryInfrastructure and Utilities, Port Infrastructure & Development
To see the full contact details of Gsec Logistics Limited, buy the company report.
Comprehensive company report
Gsec Logistics Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Gsec Logistics operates one associated brand: GSEC. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ocean freight forwarding and logistics services are provided globally. | gsecl.co.in |
Financials of Gsec Logistics Limited
FY 2025 filings availableGsec Logistics Limited reported revenue of ₹7.85 Lakh (up 5% YoY) for FY 2024.
Revenue · FY 2024
₹7.85 Lakh ▲ 5%
Net loss · FY 2024
₹5.4 Lakh margin -68.8%
EBITDA · FY 2024
₹7.76 Lakh margin 98.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 5%
3 years · compounded
▲ 168%
5 years · compounded
▲ 6%
EBITDA CAGR growth
1 year
▲ 22%
3 years · compounded
▲ 52%
5 years · compounded
▲ 126%
Revenue has grown at a compounded annual rate (CAGR) of 6% over five years, including 5% growth in the latest year. EBITDA rose 22% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | ₹7.76 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹5.4 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 98.9% | ||||
| Net Profit Margin | -68.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Gsec Logistics Limited, buy the company report.
Board of directors of Gsec Logistics Limited
Gsec Logistics has 3 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Samir Mankad Hanskumar Also directs: Gsec Limited, Skypark Mumbai Services Private Limited, Gsec-Indo-Thai Ground Handling Private Limited and 5 more | Director | 07 Sep 2006 | 20 Years 1 Months | Current |
| Rakesh Shah Ramanlal | Director | 07 Sep 2006 | 20 Years 1 Months | Current |
| Rutul Shah | Director | 19 Aug 2025 | 1 Years 2 Months | Current |
Peer comparison
Gsec Logistics Limited is compared with the 10 companies closest to it by revenue in the Infrastructure industry (Ports), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Subarnarekha Port Private Limited | ₹9.35 Lakh (FY 2025) | -64.0% | Bhubaneswar, Odisha, India | |||
| Aviral Maritime Infrastructure Dahej Private Limited | ₹9.05 Lakh (FY 2025) | -28.0% | Kolkata, West Bengal, India | |||
| Ruhil Mobimask Private Limited | ₹8.64 Lakh (FY 2021) | -94.0% | Kolkata, West Bengal, India | |||
| La Pearl Di Ship Management Private Limited | ₹8.45 Lakh (FY 2025) | 4.0% | Mumbai, Maharashtra, India | |||
| Rajakamangalam Thurai Fishing Harbour Private Limited | ₹8.01 Lakh (FY 2016) | 21.0% | Rajakamangalam Thurai, Tamil Nadu, India | |||
| Gsec Logistics Limitedthis company | ₹7.85 Lakh (FY 2024) | -₹5.4 Lakh | -68.8% | 5.0% | Ahmedabad, Gujarat, India | |
| Viraj Marine Project Private Limited | ₹7 Lakh (FY 2023) | -98.0% | Hyderabad, Telangana, India | |||
| Malabar International Port & Sez Limited | ₹5.59 Lakh (FY 2022) | 2387.0% | Thiruvananthapuram, Kerala, India | |||
| Aditya Birla Ports Limited | ₹4.95 Lakh (FY 2018) | -5.0% | Bhubaneswar, Odisha, India | |||
| Ipl Gujarat Port Limited | ₹4.21 Lakh (FY 2019) | 8.0% | Chennai, Tamil Nadu, India | |||
| Panatrans Sea Ports Private Limited | ₹4.18 Lakh (FY 2022) | Mumbai, Maharashtra, India |
To see the full peer comparison of Gsec Logistics Limited, buy the company report.
Auditor
Gsec Logistics Limited is audited by BJS & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| BJS & ASSOCIATES | FY 2023 | 113268W |
Shareholding
The shareholding of Gsec Logistics Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Gsec Logistics Limited, buy the company report.
Charges & borrowings
Open charges
₹21 Cr
Satisfied charges
₹21 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Sep 2022 | 100627510 | Others | ₹21 Cr | Satisfied |
To see the full charge records of Gsec Logistics Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
No court or tribunal cases involving Gsec Logistics Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gsec Logistics Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
No GST registration is on our record for Gsec Logistics Limited; the GSTIN and return-filing check is in the company report Buy the company report.
Recent activity
Gsec Logistics Limited has 7 board changes on record since 2006: 3 appointments and 4 cessations. The latest: Rutul Shah ceased to be Additional Director on 24 Sep 2025.
AGM
Gsec Logistics Limited last Annual general meeting of members was held on 25 Sep 2025 as per latest MCA records.
Ceased
Rutul Shah ceased to be Additional Director.
Charges
A charge registered on 07 Sep 2022 via Charge ID 100627510 with Others was fully satisfied on 19 Sep 2025.
Appointed
Rutul Shah was appointed as Director.
Ceased
Shaishav Rakeshkumar Shah ceased to be Director.
Filing
Gsec Logistics Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Charges
A charge with Others amounted to Rs. 2,100.00 Lakh with Charge ID 100627510 was registered on 07 Sep 2022.
Ceased
Milind Mahajan ceased to be Director.
Ceased
Mukesh Kantilal Patel ceased to be Director.
Appointed
Rakesh Shah Ramanlal was appointed as Director.
Appointed
Samir Mankad Hanskumar was appointed as Director.
Incorporation
07 Sep 2006
Gsec Logistics Limited was registered on 07 Sep 2006 with Roc Ahmedabad & aged 20 years 1 month as per MCA records.
News
Frequently asked questions
Gsec Logistics is an active public limited company based in Ahmedabad, Gujarat, India. The company works in port infrastructure and development, within the infrastructure and utilities industry. It was incorporated on 07 September 2006 (20+ years old) and is registered under CIN U62200GJ2006PLC049049.
Gsec Logistics has 3 current directors:
- Samir Mankad Hanskumar - Director
- Rakesh Shah Ramanlal - Director
- Rutul Shah - Director
The latest financial statements of Gsec Logistics on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Gsec Logistics is U62200GJ2006PLC049049. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Gsec Logistics was incorporated on 07 September 2006, making it 20+ years old. It is registered with the Registrar of Companies, Ahmedabad.
The peers of Gsec Logistics by revenue are Subarnarekha Port Private Limited, Aviral Maritime Infrastructure Dahej Private Limited, Ruhil Mobimask Private Limited, La Pearl Di Ship Management Private Limited, Rajakamangalam Thurai Fishing Harbour Private Limited and 5 more, all in the Infrastructure industry (Ports).
Rutul Shah ceased to be Additional Director on 24 Sep 2025. Rutul Shah was appointed as Director on 19 Aug 2025. Shaishav Rakeshkumar Shah ceased to be Director on 19 Aug 2025. Gsec Logistics has 7 board changes on record in total.
Gsec Logistics can be reached through the website gsecl.co.in. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of Gsec Logistics is at 2nd Floor Gujarat ChamberS Building Ashram Road, Ahmedabad, Gujarat, India – 380009.
Gsec Logistics operates in the infrastructure and utilities industry, in the port infrastructure and development segment.
Gsec Logistics has open charges of ₹21 Cr and satisfied charges of ₹21 Cr as per latest MCA filings.