Tejas Cargo India Limited IPO

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The Company is a Faridabad, Haryana-based logistics company specializing in long-haul supply chain transportation services by road across India. Their primary service offerings include express supply chain transportation under the Full Truck Load (FTL) model, catering to a diverse range of industries such as:

i. Logistics                               ii. Steel and Cement                           iii. E-commerce                 iv. Industrial & Chemicals
v. FMCG                                  vi. White Goods

Their operations are technology-driven, enabling optimized logistics management and ensuring efficiency, reliability, and transparency in transportation services.

Their services encompass the entire logistics lifecycle, including:

i. Shipment Planning                                ii. Route Optimization                      iii. Fleet Selection
iv. Documentation                                     v. Real-Time Tracking                      vi. Client Communication & Coordination
vii. Performance Evaluation

Conclusion

With a robust fleet, technology-enabled operations, and a focus on optimizing supply chain logistics, their company is well-positioned to meet the transportation needs of diverse industries across India. By leveraging modern infrastructure and advanced tracking systems, they aim to deliver reliable and efficient services, ensuring customer satisfaction and long-term growth in the logistics sector.

Objects of the Tejas Cargo India Limited IPO:

The company intend to utilize the proceeds of the Issue to meet the following objects: i. Purchase of additional trailers for the Company; ii. To meet working capital requirements; iii. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company; and iv. General Corporate Purposes;
DRHP of Tejas Cargo India Limited IPO
RHP of Tejas Cargo India Limited IPO

Tejas Cargo India Limited IPO Details:

Open Date: Feb 14 2025
Close Date: Feb 18 2025
Total Shares: 63,00,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 105.84 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 160 - 168 Per Equity Share
Listing At: NSE Emerge
Listing Date: Feb 21 2025

Promoters And Management:

Chander Bindal, 42, is the Promoter, Chairman, and Managing Director of the Company since its incorporation on March 26, 2021. A Commerce graduate from Delhi University with a Business Professional Programmer certification, he has 15 years of experience in logistics. Previously, he served as Business Development Head at Trans Cargo India and is currently a director at Tejas Carriers Solutions Pvt. Ltd. and MMC Carbon Pvt. Ltd. Manish Bindal, 40, is the Promoter, Whole Time Director, and CEO of the Company since its incorporation on March 26, 2021. A Commerce graduate with an MBA from Alagappa University, he has 15 years of logistics experience. He is also the sole proprietor of Trans Cargo India and a director at Tejas Carriers Solutions Pvt. Ltd. Archana Jain, 50, is a Non-Executive Independent Director of the Company since June 15, 2024. A practicing Chartered Accountant with 13 years of experience in audits, GST, and custom matters, she is also a Director in multiple companies, including Panchatv Bharat Ltd., Oriana Power Ltd., and Gulshan Polyols Ltd.

Financials of Tejas Cargo India Limited IPO:

In Cr.
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 252.60 419.32 381.78 209.29
EBITDA 45.56 69.03 32.82 8.37
EBITDA Margins 18.04% 16.46% 8.60% 4%
PAT 8.74 13.22 9.85 3.15
PAT Margins 3.43% 3.13% 2.56% 1.50%
ROCE 28.30% 44.50% 24.80%
CFOA 24.56 48.14 -7.27 -5.22

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Tejas Cargo India     (FY 2024) 419.32 16.46% 3.13% 3.21 401.39 Cr. 30.36*
AVG Logistics (TTM) 540 Cr. 17% 7.22% 0.99 386 Cr. 13.90
RITCO Logistics (TTM) 1,096 Cr. 8% 3.92% 0.77 811 Cr. 18.90
*Forward PE is 22.96 on the basis of FY 25 PAT.

Recommendation on Tejas Cargo India Limited IPO:

Review and Recommendation of Tejas Cargo India IPO be team IZ is 3/10.

Lead Manager of Tejas Cargo India Limited IPO:

  1. New Berry Capitals Private Limited

Registrar of Tejas Cargo India Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Tejas Cargo India Limited 3 rd Floor, Tower B Vatika Mindscape 12/3 , Mathura Road, Sector-27D, NH-2, Faridabad,, 121003 Phone: +91-129-4144812 Email: compliance.officer@tcipl.in Website: https://www.tcipl.in/

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