Reetech International Cargo and Courier Ltd IPO

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i. Reetech International was incorporated in the year 2008, in the name and style of M R Agriculture Private Limited by the joint efforts of Mr. Mahendra Ahuja and Ms. Roma Ahuja. Company started its operation in the year 2009-10 Initially the Company was engaged in the business of agriculture goods such as Rice Milling, Rice Sorting, Dal Milling, Dal Processing and Agriculture Products.

ii. The business of trading of Agriculture goods had been operated by the Company successfully in the past. In the year 2020, the promoters commenced business of trading of coal. In the year 2021, the company changed its name from M R Agriculture Private Limited to Reetech International Cargo and Courier Private Limited. The Promoters has a vision to look beyond the ordinary; to foresee opportunities; to attain the unattainable; to create in-roads into newer vistas of change and above all, to bridge the demand-supply gap for coal, the world’s fossil fuel.

iii. Mr. Mahendra Ahuja started as a small trader of coal in 2020, and within a short span of time, Reetech has emerged as one of the recognised suppliers of coal in the state of Chhattisgarh. They are based at Raipur, Chhattisgarh, and its operations are spread across India, with a vide network of Customers. The company’s diversified product portfolio comprises coal from Indonesia, South Africa, Australian and India, among other origins.

iv. They supply their products to the customers in various sectors i.e., Power, Steel, Rolling and other industries. An effective handling and transportation of the orders is facilitated through Road transportation and Railway. In a very short span of time, the Company has been able to recognize itself as a trusted name in the coal industries due to its commitment to quality and reliability since its inception. Reetech International is one of the recognised traders of Coal and perform its operations from Gangavaram and other ports.

v. Products

i. South African Coal

ii. Indonesian Coal

iii. Indian Coal

iv. US Coal

vi. Competitive Strength :

  • Experience and Track Record.
  • Experienced Promoters and Management.
  • Repeat Business.
  • Location Advantage.
  • Satisfied Chain of Vendors.
  • Progressive Employer.

Objects of the Reetech International Cargo and Courier Ltd IPO:

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects : a) Working Capital Requirements b) General Corporate Purposes.

Reetech International Cargo and Courier Ltd IPO Details:

Open Date: Sep 27 2022
Close Date: Sep 29 2022
Total Shares: 1,114,800
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue
Issue Size: 11.71 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 105 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 10 2022

Promoters And Management:

i. Mr. Mahendra Ahuja, aged 39 years, is the Promoter and Managing Director of the Company. He was appointed as Managing Director with effect from June 18, 2022. He has more than 14 years of experience in the field of management, finance and overall business development. In a Company he is responsible for providing strategic advice and guidance to the members of the board, to keep them aware of developments within the industry and ensure that the appropriate policies are developed to meet the company’s mission and objectives and to comply with all relevant statutory and other regulations. ii. Ms. Roma Ahuja, aged 38 years, is the Promoter and Executive Director. She was the Non-Executive Director of the Company since incorporation, later her designation was changed to Executive Director w.e.f. June 11, 2022. She has completed her Bachelor in Commerce from Pt. Ravishankar Shukla University, Raipur in the year 2005. A dynamic leader who has more than 14 years of experience in the business of Implementation of Strategic objectives, administration, preparing budgets, reviewing accounting procedures, financial analysis, she always delivers value to the customers and endeavour in fulfilling / exceeding their expectations. iii. Mr. Vijay Kumar Khilnani, aged 58, was appointed as the Executive Director of the Company with effect from September 07, 2021, later the designation was changed from Executive Director to Non-Executive Director with effect from June 11, 2022. He possesses good knowledge in Planning, Administration, Monitoring, Coordination & Team Management and Marketing. His role in the company includes overseeing whether company’s programmes and projects are being executed in right direction as per its aim and objectives, recommending business policies to the board governing the company, establishing long-term business plans for supporting the vision and values of the company.

Financials of Reetech International Cargo and Courier Ltd IPO:

Particulars (in lakhs) Mar-22 Mar-21
Revenue from operations 11,374 1,840.26
Purchase of stocks 11,103.65 1,876.66
Change in Inventories -110.15 -79.01
Employee Benifit Expense 25.59
Other Expense 82.49 4.06
Operating Profit 272 38.55
OPM% 2.39% 2.09%
Finance Cost 0.09 0.19
Other Income 315.13 2.15
Profit (Loss) before tax 587.44 40.51
Profit (Loss) for the period 417.29 30.1
Earnings per share 11.5 0.83

Comparison With Peers:

Name of the Company CMP FV EPS P/E
Reetech International Cargo and Courier Limited 105 10 11.5 9
Anmol India Limited 170 10 13.66 11
Redington (India) Limited 139 2 16.38 8

Lead Manager of Reetech International Cargo and Courier Ltd IPO:

  1. Gretex Corporate Services Private Limited

Registrar of Reetech International Cargo and Courier Ltd IPO:

  1. Bigshare Services Private Limited

Company Address:

Reetech International Cargo and Courier Ltd Raipur 492001 Phone: + 91 7714003800 Email: info@reetechinternational.com Website: https://reetechinternational.com/

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