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Caliber Mining and Logistics Ltd IPO
Caliber Mining and Logistics Ltd
₹14,070 /35 sharesMinimum investment
IPO details
Minimum investment
₹14,070
Price range
₹402 - ₹424
Lot size
35
Issue size
--
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
17 Jul 2026
IPO open date
21 Jul 2026
IPO close date
22 Jul 2026
Allotment date
22 Jul 2026
Funds unblock or debit
24 Jul 2026
Tentative listing date
About
Founded in
2014
MD/CEO
Mr Mohit Chadda
Parent organisation
Caliber Mining and Logistics Ltd
Caliber Mining & Logistics Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to provide integrated coal mining and logistics services under a single business model. Its operations cover overburden removal, coal extraction, loading and unloading, road transportation, rake loading, rail coordination, and coal trading, allowing it to handle multiple stages of the coal supply chain.
The company claims to have a fleet of 1,911 owned and leased vehicles, comprising equipment and machines related to mining, and representing a strong asset base in the mining contracting business. This includes 883 mining tippers, 162 excavators, 362 tip trailers, 64 loaders, bulldozers, graders, and other mining equipment. It also claims to operate in-house maintenance workshops at its Chandrapur headquarters and across multiple mining sites.
The company has long-standing relationships with Coal India subsidiaries, particularly Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL). In FY26, these customers contributed 85.11% of its revenue from operations, while around 84.59% of the company’s revenue came from repeat customers, according to the prospectus.
The company claims to have a strong order book supported by long-term mining contracts. As of May 15, 2026, it reported an order book of Rs 955,089.08 lakh, with nearly 96% of the value coming from coal mining and overburden removal contracts that extend up to 2031.
The company has received credit ratings from CRISIL for its borrowings. Its long-term borrowings have been assigned a CRISIL BBB+ (Stable) rating, while its short-term borrowings have received a CRISIL A2 rating, both dated March 26, 2026.
The company has received recognition from industry participants and customers for its operations. These include Western Coalfields Limited’s award for the Dhoptala mine as the “Best Mine under 2 MT Capacity” in FY2024-25, along with acknowledgements from Tata Hitachi, Volvo Trucks, and the Satrac Silver Jubilee Awards for Quality & Performance.
The company has reported consistent financial growth over the last three financial years. Revenue from operations increased from Rs 953.12 crore in FY24 to Rs 1,430.40 crore and Rs 1,677.66 crore in FY26, while profit after tax grew from Rs 95.90 crore to Rs 131.55 crore and Rs 157.90 crore during the same period.
The company’s top three customers contributed Rs 1,511.70 crore (90.11%), Rs 1,217.25 crore (85.10%), and Rs 681.56 crore (71.51%) to its revenue from operations in FY26, FY25, and FY24, respectively. Its largest customer alone contributed Rs 740.88 crore (44.16%), Rs 614.43 crore (42.96%), and Rs 438.78 crore (46.04%) during the same period. Any failure to retain these key customers, renew existing contracts, or secure similar business volumes in the future could adversely affect the company’s business, financial condition, and results of operations.
The company is heavily dependent on large-scale mining contracts valued above Rs 1,000 crore. These contracts contributed Rs 1,276.95 crore (76.12%), Rs 911.88 crore (63.75%), and Rs 257.36 crore (27.00%) to its revenue from operations in FY26, FY25, and FY24, respectively. Any delay, cancellation, change in project scope, failure to secure new large contracts, or inability to successfully execute these projects could adversely affect the company’s business, cash flows, and financial condition.
The company’s mining operations are concentrated in Maharashtra, Madhya Pradesh, and Chhattisgarh, with Maharashtra accounting for the largest share of its revenue. It generated Rs 931.00 crore (55.49%), Rs 802.82 crore (56.13%), and Rs 757.94 crore (79.52%) of its revenue from Maharashtra in FY26, FY25, and FY24, respectively. Any adverse political, economic, social, regulatory, or natural developments in these states could disrupt operations and adversely affect the company’s business, financial condition, and results of operations.
The company is dependent on a limited number of suppliers for lubricants, tyres, steel, spare parts, and other consumables used in its mining and logistics operations. Its top 10 suppliers accounted for Rs 789.65 crore (91.94%), Rs 669.12 crore (95.96%), and Rs 381.39 crore (76.04%) of its material procurement costs in FY26, FY25, and FY24, respectively. Any disruption in supply, increase in raw material prices, or inability to source these materials from alternative suppliers on time could adversely affect the company’s operations, profitability, and financial condition.
The company has received one pre-litigation notice, while its promoters are involved in two outstanding criminal proceedings. Any adverse outcome in these matters could result in penalties, liabilities, or other legal consequences, which may adversely affect the company’s business, financial condition, and reputation.
As of FY26, the company had total trade receivables amounting to Rs 135.58 crore, compared to Rs 252.65 crore in FY25 and Rs 116.86 crore in FY24. Failure to collect these receivables on time or at all could hurt the company’s cash flows, working capital, and financial condition.
As of FY26, the company had outstanding borrowings of Rs 1,057.61 crore, compared to Rs 651.77 crore in FY25 and Rs 725.51 crore in FY24. The company also reported a high debt-to-equity ratio of 1.63x, 1.33x and 2.45x in FY26, FY25 and FY24, respectively. Any failure to service or repay these borrowings or comply with the covenants under its financing agreements could adversely affect the company’s business and financial condition.
As of April 30, 2026, the company had total outstanding financial indebtedness of Rs 1,631.07 crore. Any failure to service or repay these borrowings or comply with the terms of its financing agreements could adversely affect the company’s business and financial condition.
The company’s key financial ratios have fluctuated over the past three fiscal years, with return on average equity declining from 38.63% in FY24 to 33.51% in FY25 and 27.78% in FY26. Its Return on Capital Employed (RoCE) also declined to 16.60% in FY26 from 20.68% in FY25, while the net debt-to-equity ratio increased to 1.62x in FY26 from 1.33x in FY25. Continued deterioration in these financial ratios could adversely impact the company’s financial performance and investor confidence.
The company’s mining operations are affected by seasonal weather conditions, particularly during the monsoon season when heavy rainfall can restrict coal extraction and overburden removal activities. Any abnormally rainy monsoon season could delay project execution, reduce equipment utilisation, and adversely affect the company’s business, results of operations, and financial condition.
Application details
For Caliber Mining & Logistics IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹402 - ₹424 | Upto ₹2 Lakhs | 35 |
| High Networth Individual | ₹402 - ₹424 | ₹2 - ₹5 Lakhs | 35 |