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Ashwini Container Movers IPO
Ashwini Container Movers Ltd
₹2,70,000 /1000 sharesMinimum Investment
Ashwini Container Movers IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 12 Dec ‘25 - 16 Dec ‘25 | ₹2,70,000 | 1,000 | ₹135 - ₹142 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 71 Cr | RHP PDF | 17 Dec ‘25 | 19 Dec ‘25 |
| Face value |
|---|
| 10 |
About Ashwini Container Movers
Founded in
2012
MD/CEO
Mr Govind Janabhau Sable
Parent organisation
Ashwini Container Movers Ltd
Strengths & Risks of Ashwini Container Movers
Strengths
Risks
As of September 30, 2025, the company claims to operate 312 owned vehicles, including reefer and dry container trucks. Owning a sizeable fleet may provide operational flexibility and support high-volume transport requirements.
The company claims to use Clay Soft and Elixia software for operational management and vehicle tracking. These systems are not owned by the company, and monthly charges are paid to use them, but they are intended to provide real-time visibility of vehicle and consignment status.
The company states that it has Carrier Legal Liability insurance and vehicle insurance for its fleet. It also uses monitoring software for tracking, although records indicate instances of traffic challans over the last three financial years for non-compliance with safety rules.
The company serves customers from multiple industries, including agriculture, automobiles, manufacturing, pharmaceuticals, and chemicals. This may reduce reliance on a single sector, although the degree of concentration in revenue is not specified.
The company claims to provide periodic training sessions for drivers covering traffic compliance, fire safety, accident management, and vehicle handling.
The company has seen a consistent increase in revenue from operations. Revenue from operations increased from Rs 76.87 crore in FY23 to Rs 78.77 crore in FY24 to Rs 94.12 crore in FY25.
The company may face conflicts of interest due to the presence of group companies and former proprietorship firms operated by promoters or their relatives in similar business activities. Although some of these firms have discontinued operations since October 2024, overlaps in business functions may lead to competition for customers, resources, or business opportunities.
The company does not have long-term contracts with its clients, which may result in fluctuations in sales and reduced visibility of future revenue. Loss of key customers, lower business volume, or client preference for competitors could negatively impact cash flows and profitability. The business also remains exposed to credit risk, as delays in payments or defaults may strain liquidity.
A substantial portion of the company’s revenue is generated from the state of Maharashtra, indicating high regional dependence. Revenue from Maharashtra accounted for Rs 45.75 crore (83.32 percent) in the period ended September 30, 2025, Rs 73.51 crore (78.11 percent) in FY25, Rs 67.01 crore (85.07 percent) in FY24, and Rs 67.15 crore (87.36 percent) in FY23. Any adverse economic, regulatory, or competitive developments in this region may materially affect revenue and operating performance.
The company recorded negative cash flows from investing activities in multiple periods due to sustained investment in the purchase of trucks. The negative net cash flow was Rs 17.15 crore for the period ended September 30, 2025, Rs 18.01 crore in FY25, Rs 14.82 crore in FY24, and Rs 19.57 crore in FY23. Additionally, negative cash flow from financing activities amounted to Rs 1.46 crore in FY25. The company also reported a net decrease in cash and cash equivalents amounting to Rs 0.04 crore for the period ended September 30, 2025. Sustained negative cash flows may strain liquidity, impact working capital availability, and require external financing to sustain operations and growth.
The company, its promoters, and the directors are involved in ongoing legal proceedings, including matters based on the materiality policy, criminal proceedings, and tax proceedings. Any adverse judgment in these cases can be detrimental to the company’s business prospects.
As the fleet ages, the company expects higher maintenance costs and may need to acquire new vehicles to sustain operational efficiency. If new vehicles cannot be procured on commercially favourable terms, operational costs may rise, which could negatively affect business performance and profitability.
The company derives a significant portion of revenue from a limited number of customers, with the top 10 customers contributing 35.25 percent to the revenue in the period ended September 30, 2025, 45.48 percent in FY25, 53.96 percent in FY24, and 69.88 percent in FY23. Loss of key customers or reduction in business volumes could adversely impact revenue, cash flow, and financial condition.
The business depends on the availability of drivers for uninterrupted service delivery. Protests or strikes, such as the nationwide demonstrations linked to hit-and-run provisions in FY24, have previously impacted operations. Similar events in the future may result in delays, financial losses, or reputational impact.
As of September 30, 2025, the company’s trade receivables were Rs 34.52 crore. Any delay in collections or inability to secure funding may adversely impact operations.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 74.23 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Ashwini Container Movers Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Ashwini Container Movers IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹135 - 142 | ₹2 - 5 Lakh | 1000 |
For Ashwini Container Movers IPO, eligible investors can apply as Individual investor.