Western Carriers (India) Limited IPO
They are the largest private, multi-modal, rail-focused, asset-light logistics company in India, specializing in 4PL solutions. In Fiscal 2023, they handled significant container volumes, achieving a 6% share in the domestic market and a 2% share in the EXIM market (Source: 1Lattice Report). With extensive experience in road, rail, and sea/river transportation, they offer customized, end-to-end logistics solutions that cater to both domestic and international (EXIM) cargo.
Scalable Asset-Light Business Model
Their scalable, asset-light business model allows them to provide differentiated 3PL and 4PL solutions, tailored to the complex needs of their customers. They offer a wide range of value-added services across the supply chain, creating integrated, single-window logistics solutions that meet the unique requirements of each client.
Service Offerings and Customer Relationships
They have established long-standing relationships with key customers across various sectors, including metals, FMCG, pharmaceuticals, chemicals, oil and gas, and retail. Notable clients include Tata Steel, Hindalco, Hindustan Unilever, Cipla, and DHL. Their ability to engineer customized supply chains optimized for client-specific targets has contributed to their strong customer retention, with 80% of our Fiscal 2024 revenues coming from clients who have been with them for over three years. Their top 10 customers had a retention rate of 100%.
Commitment to Customer-Centric Service
Their decades of experience, commitment to efficiency, and on-time delivery have made them a trusted partner for many industry leaders. They continue to evolve alongside their customers, ensuring that their services meet their progressing needs, thereby supporting organic business growth.
Conclusion
Their strong market presence, customer-centric approach, and scalable business model position them as a leading player in the Indian logistics industry, poised for continued growth alongside their valued customers.
Objects of the Western Carriers (India) Limited IPO:
Western Carriers (India) Limited IPO Details:
Open Date: | Sep 13 2024 |
Close Date: | Sep 18 2024 |
Total Shares: | 28,655,813 |
Face Value: | ₹ 5 Per Equity Share |
Issue Size: | 492.88 Cr. |
Lot Size: | 87 Shares |
Issue Price: | ₹ 163 - 172 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Sep 23 2024 |
Promoters And Management:
Financials of Western Carriers (India) Limited IPO:
Particular (In Crore) | Mar-24 | Mar-23 | Mar-22 |
Revenue from Operations | 1,686 | 1,633 | 1,471 |
Operating Expenses | 1437 | 1421 | 1280 |
Employee Cost | 47 | 42 | 37 |
Other Expenses | 56 | 48 | 49 |
EBITDA | 146 | 122 | 105 |
EBIDTA Margin | 8.66% | 7.47% | 7.14% |
Other income | 6 | 5 | 5 |
Depreciation | 21 | 15 | 12 |
Interest | 22 | 15 | 14 |
Profit before tax | 108 | 96 | 83 |
Tax | 28 | 24 | 22 |
Net profit | 80 | 72 | 61 |
NPM (%) | 4.73% | 4.40% | 4.13% |
No. of Shares | 10.19 | 10.19 | 10.19 |
EPS | 7.85 | 7.07 | 5.99 |
Comparison With Peers:
Name of the Companies | Revenue (Cr) | Profit (Cr) | EPS | P/E | CMP | Mcap (cr) |
Container Corporation of India Limited | 8653 | 1262 | 20.69 | 45.5 | 951 | 57,894 |
Mahindra Logistics Limited | 5506 | -53 | -7 | -67 | 470 | 3394 |
TCI Express Limited | 1254 | 134 | 34.35 | 34.2 | 1090 | 4188 |
Western Carriers (India) Limited | 1686 | 80 | 7.85 | 21.91 | 172 | 1745 |
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