Company Background
Established in March 2011, Western Carriers (India) Limited operates as a multi-modal logistics service provider with a primary focus on rail transportation. The company follows an asset-light business model and positions itself as a fourth-party logistics (4PL) firm. Offering tailored logistics solutions, it spans across various transportation modes, including road, rail, water, and air. Its expertise lies in supply chain management, addressing growing import, export, and production needs for sectors like metals and resources, notably working with major conglomerates.
Key Industry Sectors
Western Carriers serves a wide array of industries such as:
- Metals
- FMCG (Fast Moving Consumer Goods)
- Pharmaceuticals
- Chemicals
- Engineering
- Oil & Gas
- Retail
Major Clients
Western Carriers enjoys a prestigious client base featuring renowned names like Tata Steel, Hindalco, Jindal Stainless, JSW Steel, Vedanta, Hindustan Unilever, Coca-Cola India, and Cipla.
Logistics Solutions
The company offers a wide range of logistics services, which include:
- Chartering and stevedoring operations
- Coastal cargo movement
- A unique mix of rail and road transportation, leveraging its asset-light model for efficiency.
Purpose of IPO
- Reducing outstanding debt
- Financing capital expenditure
- Addressing general corporate requirements
Summary of Financial Information:
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|
| Assets | 754.01 | 604.14 | 490.33 |
| Revenue | 1,691.41 | 1,637.84 | 1,475.79 |
| Profit After Tax | 80.35 | 71.57 | 61.13 |
| Net Worth | 398.36 | 318.61 | 257.58 |
| Reserves and Surplus | 359.01 | 279.08 | 157.12 |
| Total Borrowing | 266 | 210.47 | 150.4 |
Comparison with Listed Peers:
| Company Name | P/E | P/B | RoE (%) |
|---|---|---|---|
| Western Carriers (India) Ltd | 17 | 2.2 | 22 |
| Container Corporation Of India Ltd | 46 | 4.84 | 11 |
| Mahindra Logistics Ltd | - | 7.16 | - |
| TCI Express Ltd | 35 | 5.89 | 20 |
Key IPO Details
- IPO Dates: September 13-18, 2024
- Price Band: Rs.163 to Rs. 172 per share
- Lot Size: 87 shares
- Total Issue Size: Rs. 492.88 crores (Fresh Issue: Rs. 400 Cr.)
- Listing Date: 23 Sep, 2024
- Retail Quota: 35%
- GMP: 32% (For informational purposes only)
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.
