Western Carriers (India) IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Western Carriers (India) IPO. Explore Western Carriers (India) IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Western Carriers (India) Limited is India's largest private, multi-modal, rail-focused, 4PL asset-light logistics company, excelling in container volumes handled by private players in FY 2023. With a market share of 6% in domestic and 2% in EXIM container volumes, the company offers a wide array of logistics solutions integrating road, rail, water and air transport. Established in 1972 as a rail-focused logistics company, Western Carriers has evolved into a comprehensive 3PL and 4PL solutions provider offering customized end-to-end supply chain services. The company's asset-light business model enables it to address complex logistics needs efficiently across various industries such as FMCG, pharmaceuticals, metals and chemicals.
Key Points:
- Largest Multi-Modal Logistics Company: The company is the largest private player in multi-modal logistics in India, focusing on rail and handling 6% of domestic and 2% of EXIM container volumes in FY 2023.
- Asset-Light Business Model: Operates on an asset-light model, leveraging third-party providers for assets like vehicles, warehouses and rail equipment, allowing for scalable and flexible operations.
- Customized 3PL & 4PL Solutions: Provides integrated logistics services, including multi-modal transportation (road, rail, water, air), warehouse management, inventory planning, cargo handling, customs clearance and more.
- Established Customer Relationships: Strong ties with industry leaders like Tata Steel, Hindalco, and BALCO, with 80% of FY 2024 revenues originating from clients transacting for over three years.
Objects of the Issue
- Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company
- Funding of capital expenditure requirements of the Company towards purchase of: (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers
- General corporate purposes.
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 13 Sep - 19 Sep 2024 |
| IPO Price Band | ₹163 - ₹172 per share |
| Fresh Issue | ₹400 crore |
| Offer For Sale | 5,400,000 shares (₹92.88 crore) |
| Total IPO Size | Approx ₹492.88 crore |
| Face Value | ₹5 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 13 Sep 2024 |
| IPO Closing Date | 19 Sep 2024 |
| Basis Of Allotment | 20 Sep 2024 |
| Refunds | 23 Sep 2024 |
| Demat Transfer | 23 Sep 2024 |
| IPO Listing Date | 24 Sep 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | 31st March 2024 |
|---|---|---|---|---|
| Total Income | 1,113.90 | 1,475.79 | 1,637.84 | 1,691.41 |
| Total Expenses | 1,053.88 | 1,392.43 | 1,541.79 | 1,583.13 |
| Net Profit/Loss | 44.53 | 61.13 | 71.57 | 80.35 |
| NPM (*) | 4.01 | 4.16 | 4.38 | 4.77 |
| Total Assets | 425.22 | 490.33 | 604.14 | 754.01 |
| Total Liabilities | 228.57 | 232.75 | 285.53 | 355.65 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | 31st March 2024 |
|---|---|---|---|---|
| EPS | 5.66 | 7.77 | 9.09 | 10.21 |
| ROE (%) | 25.54 | 26.92 | 24.84 | 22.41 |
| ROCE (%) | 29.67 | 33.40 | 29.71 | 29.23 |
| D/E Ratio | 0.69 | 0.58 | 0.66 | 0.67 |
| Current Ratio | 1.68 | 1.79 | 1.91 | 1.91 |
| EBITDA MARGIN (%) | 7.62 | 7.40 | 7.74 | 9.01 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Western Carriers (India) Limited | 1,685.77 | 16.85 | 10.21 | 20.17 | 50.62 |
| Container Corporation of India Limited | 8,653.41 | 47.73 | 20.22 | 10.42 | 193.87 |
| Mahindra Logistics Limited | 5,505.97 | -62.93 | -7.60 | -10.33 | 69.99 |
| TCI Express Limited | 1,253.82 | 32.48 | 34.27 | 18.71 | 183.57 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 28.81 |
| Non-Institutional Investor (NII/HNI) | 46.68 |
| Retail Individual Investor (RII) | 26.92 |
| Total | 31.69 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
- RAJENDRA SETHIA
- KANISHKA SETHIA
Lead Managers
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
Company Address
Western Carriers (India) Limited
2/6 Sarat Bose Road 2 nd Floor, Kolkata 700 020 West Bengal, India
Phone: +91 33 2485 8519
Email: investors@westcong.com
Website: www.western-carriers.com
FAQs
- What is the issue size of the Western Carriers (India) IPO?The Western Carriers (India) IPO has an issue size of Approx ₹492.88 crore. This includes a fresh issue of ₹400 crore and an offer for sale (OFS) of 5,400,000 shares (₹92.88 crore).
- What is the price band of the Western Carriers (India) IPO?The price band for the Western Carriers (India) IPO is ₹163 - ₹172 per share.
- What are the bidding dates for the Western Carriers (India) IPO?The Western Carriers (India) IPO will open for bidding on 13 Sep 2024 and close on 19 Sep 2024.
- What is the allotment date for the Western Carriers (India) IPO?The allotment date for the Western Carriers (India) IPO is 20 Sep 2024.
- What is the listing date for the Western Carriers (India) IPO?The listing date for the Western Carriers (India) IPO is 24 Sep 2024.
- What is the Western Carriers (India) IPO grey market premium?The grey market premium (GMP) for the Western Carriers (India) IPO is currently at ₹16, with an expected listing gain of approximately 9.3%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.