Company Overview
Founded in February 1996, ECOS (India) Mobility & Hospitality Limited has grown to become a key player in the chauffeur-driven car rental industry in India. The company primarily focuses on Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS), with a client base that includes numerous corporate giants, such as several Fortune 500 companies.
Geographic Presence
By March 31, 2024, ECOS (India) Mobility had built a robust operational network across India. It operates in 109 cities through its fleet and partnerships with various vendors. The company’s reach extends across 21 states and four union territories, demonstrating its ability to serve a wide range of regions across the country.
Services and Market Performance
In the fiscal year 2024, ECOS (India) Mobility fulfilled the CCR and ETS requirements of over 1,100 organizations, successfully executing more than 3.1 million trips, which translates to an average of over 8,400 trips daily. In addition, the company provides self-drive car rental services in major metropolitan areas such as Delhi, Gurugram, Mumbai, and Bengaluru.
The company's fleet, comprising over 12,000 vehicles, offers a diverse range of options, from economy cars to luxury vehicles, minivans, and specialized transport solutions like luggage vans, limousines, vintage cars, and accessible vehicles for individuals with disabilities.
Major Clients
ECOS (India) Mobility boasts an impressive clientele, including well-known names like InterGlobe Aviation Limited (Indigo), HCL Corporation Private Limited, Safexpress Private Limited, Deloitte Consulting India Private Limited, Urbanclap Technologies Private Limited (Urban Company), and IndusInd Bank Limited, among others.
Promoter Shareholding
The company is backed by promoters Rajesh Loomba, Aditya Loomba, Nidhi Seth, along with the Rajesh Loomba Family Trust and Aditya Loomba Family Trust. Prior to the IPO, the promoters hold a 97.75% stake in the company, which is expected to decrease to 67.75% after the issue.
Summary of Financial Information:
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|
| Assets | 296.66 | 229.71 | 112.38 |
| Revenue | 568.21 | 425.43 | 151.55 |
| Profit After Tax | 62.53 | 43.59 | 9.87 |
| Net Worth | 177.41 | 115.13 | 71.56 |
| Reserves and Surplus | 165.41 | 115.07 | 71.5 |
| Total Borrowing | 21.72 | 32.95 | 3.34 |
Comparison with Listed Peers:
| Company Name | P/E | P/B | RoE (%) |
|---|---|---|---|
| ECOS (India) Mobility & Hospitality Ltd | 32 | 11 | 43 |
| Wise Travel India Ltd | 30 | 5 | 30 |
| Shree OSFM E-Mobility Ltd | 36 | 5 | 16 |
Key details of the IPO:
- IPO Dates: August 28 to August 30, 2024
- Price Band: Rs. 318 to Rs. 334 per share
- Lot Size: 44 Shares
- Total Issue Size: Rs. 601.20 Crores
- Retail Quota: 35%
- GMP: 47% (Only for Informational Purposes)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
