Cargotrans Maritime Limited IPO

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i. Cargotrans Maritime is an international logistics solutions provider with core business of providing sea logistics services including ocean freight forwarding (FCL and LCL), transportation, custom clearance, warehousing and other value added services to the clients. They started the business of freight forwarding in 2012 and have, since then, consistently grown the presence, enhanced the scope of services and increased its capabilities and expertise.

ii. In October, 2019, the Company acquired 100% stake in Cargotrans Maritime Agencies Private Limited (“CMAPL”) and Cargotrans Maritime Forwarding Private Limited (“CMFPL”) to enter into the segment of custom house agent service and coastal transportation (i.e. transport of goods through sea within India).

iii. They have a Multi-Modal Transport Operator’s License, which enable them to issue a single negotiable multimodal transport document covering multiple modes of transport and position ourselves as an independent player in this field thus strengthening our revenue model. The company also undertake work related to regulatory compliance services such as customs clearance, through CMAPL, which owns a valid Custom House Agent’s License.

iv. The registered office of the Company is situated at Gandhidham, Gujarat and we have two branch offices at Ahmedabad & Rajkot and two port offices at Mundra and Pipavav. As on date of Prospectus, the Company operates at 4 sea ports of Gujarat i.e. Mundra, Hazira, Kandla and Pipavav. Currently, they operate a fleet of 9 owned commercial trailers for moving containers and apart from this the company also hire third party transport operators to meet the shipping demand of its customers. Their customers operate in various sectors, including food processing, agro-based, commodities, plastics, minerals, ceramics, trading, packaging, textiles etc.

v. Spectrum of services:

i. Ocean Freight Forwarding
ii. Custom Clearance
iii. Warehousing Services
iv. Transportation Services

vi. Competitive Strengths:

  • Wide range of logistics services and solutions.
  • Diversified customer base across varied industry verticals.
  • Strong relationship with constituents of logistics value chain.
  • Experienced Management team.

Objects of the Cargotrans Maritime Limited IPO:

The company intend to utilize the proceeds of the Issue to meet the following objects: - 1. To meet Working Capital requirements 2. General Corporate Purpose 3. To meet issue expenses

Cargotrans Maritime Limited IPO Details:

Open Date: Sep 27 2022
Close Date: Sep 29 2022
Total Shares: 1,080,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue
Issue Size: 4.86 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 45 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 10 2022

Promoters And Management:

i. Edwin Alexander is the Chairman and Non-executive Director of the Company. He has been on the Board since incorporation. He is a visionary entrepreneur and has played a pivotal role in setting up business of the Company. He has completed his Bachelor of Commerce from the Saurashtra University in 2003 and Bachelor of Law in 2021 from the Saurashtra University. He has an experience of more than 20 years in the logistics industry. ii. Mathew Jacob is the Managing Director of the Company. He has been on the Board since Feb., 2022. He has completed his Bachelor of Science from the Saurashtra University in 1998 and Bachelor of Law in 2021 from the Saurashtra University.He has work experience of over 24 years particularly in the sales and marketing field in various organizations. He currently leads the sales &marketing operations of the Company. iii. Manju Edwin is the Whole Time Director of the Company. She has been on the Board since incorporation. She has completed her Bachelor of Science from University of Kerala in 2003and has an experience of around 10 years in the logistics industry. She is looking after the Administration and Human resource operations of the Company

Financials of Cargotrans Maritime Limited IPO:

Particulars (in crores) Mar-22 Mar-21 Mar-20
Revenue from operations 89 49.00 20.00
Employee Benifit Expense 2 2 1
Other Expense 82.00 44.00 18.00
Operating Profit 5 3.00 1.00
OPM% 5.62% 6.12% 5.00%
Finance Cost 0.2 0.3 0.2
Depreciation 0.5 0.5 0.2
Other Income 0.05 0 0
Profit (Loss) before tax 3 1 0.3
Tax expense 0.8 0.4 0.1
Profit (Loss) for the period 2 1 0.2

Comparison With Peers:

Name of the Company CMP FV EPS P/E
Tiger Logistics India Limited 218 10 31.81 7
Allcargo Logistics Ltd. 367 2 37.68 9
Total Transport Systems Limited 174 10 7.84 19

Lead Manager of Cargotrans Maritime Limited IPO:

  1. Hem Securities Limited

Registrar of Cargotrans Maritime Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Cargotrans Maritime Limited DBZ-S-61A, 2nd Floor, Shyam Paragon, Gandhidham, Kachchh – 370 201 Phone: 91-90999-35142 Email: info@cargotrans.in Website: http://www.cargotrans.in/

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