PNN
New Delhi [India], June 9: Tata Motors Finance, one of India's leading NBFC in the vehicle finance industry, have entered into a strategic partnership with CJ Darcl Logistics Ltd, a leading multimodal logistics solutions provider, to extend 125 Cr. Limit for various facilities including vehicle operating lease, invoice financing and fuel financing.
The operating lease facility will equip CJ Darcl Logistics Ltd. with the necessary resources to strengthen its fleet capacity, enabling it to deploy Tata Motors Limited (TML) vehicles under its business, efficiently manage its fuel expenditure, streamline working capital, and meet the growing demand for its logistics service offerings.
Commenting on this expansionary development, Krishan Kumar Agarwal, Chairman & Managing Director, CJ Darcl Logistics Ltd. said, "Our collaboration with Tata Motors Finance is a strategic move that will enable us to further strengthen our financials, enhance our fleet capacity, and accelerate business growth. We are confident that this partnership will create mutually beneficial opportunities and pave the way for long-term success."
Samrat Gupta, MD & CEO of Tata Motors Finance, highlighted the significance of this collaboration while recognizing its potential to make a positive impact. He said, "Our partnership with CJ Darcl Logistics Ltd. is in line with our commitment to actively contribute to the growth narrative of key players in the logistics industry with innovative tailor-made capex and opex financing solutions. Over the years, CJ Darcl Logistics Ltd has emerged as a formidable sectoral player, driven by exceptional leadership, robust fundamentals, and a well-defined mission and vision. Through our comprehensive credit package, we aim to empower CJ Darcl Logistics Ltd. deliver top-notch services to its valued customers and enable them in achieving their financial goals."
Logistics caters to a wide-ranging clientele of more than 2,800+ customers, spanning over 5,000 locations on a nationwide scale, through a network of 200+ offices. The company operates on an asset-right model and holds the distinction of being the largest FTL Player in the country, possessing over 1,000 own vehicles and market fleet of over 8 lacs+ vehicles (hired or leased) to efficiently serve its clients. The company has a unique capability to provide transportation services through all modes of transport road, rail, air, and coastal, thus promoting both ecological and financial sustainability. CJ DARCL Logistics is presently striving towards the status of a full-stack logistics enterprise and has expanded its operations into diverse fields such as Multimodal, Project Cargo, Air Cargo, Warehousing.
Tata Motors Finance Limited (TMFL) is the leading and most preferred financial Institution engaged in financing the entire range of Tata Motors Commercial Vehicle. It is a non-deposit taking systemically important (ND-SI) NBFC. TMFL is one of the pioneers of vehicle financing established way back in 1957 under a different name. The company has a strong footprint across India and operates through its own 350+ branch networks, in addition to Tata Motors dealers' sales outlets. TMFL's business interests are focused on benefiting the parent company and its strategic partners within the Tata Motors eco-system.
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