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Tejas Cargo Limited IPO
Tejas Cargo India Ltd
₹1,28,000 /800 sharesMinimum Investment
Tejas Cargo Limited IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹168.00 | ₹175.00 | ₹7.00 (4.17%) |
Tejas Cargo Limited IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 14 Feb ‘25 - 18 Feb ‘25 | ₹1,28,000 | 800 | ₹160 - ₹168 |
| Issue Size | IPO Doc |
|---|---|
| 105.84Cr | RHP PDF |
Subscription rate
As of 18 Feb'25, 05:00 PM
| Qualified Institutional Buyers | 1.33x |
| Non-Institutional Investor | 1.43x |
| Retail Individual Investor | 1.08x |
| Employees | 0.73x |
| Total | 1.14x |
About Tejas Cargo Limited
Founded in
2021
Managing director
Mr. Chander Bindal
Parent organisation
Tejas Cargo India Ltd
Strengths & Financials of Tejas Cargo Limited
Strengths
Risks
Tejas Cargo owns a fleet of 1,131 vehicles, including 218 trailers and 913 container trucks.
The company claims to integrate IoT-based solutions such as Geo-Fencing, Centralised Digital Locking, GPS tracking, and AI-powered rear cameras in its fleet. It also uses an ERP system for fleet allocation, route optimisation, and real-time monitoring.
Tejas Cargo has a maintenance facility in Sidhrawali, Haryana, with 12 repair bays, advanced diagnostic tools, and manufacturer representatives. It also has maintenance centres in cities like Bhiwandi, Kolkata, and Jaipur for minor repairs.
The company holds a Petroleum and Explosives Safety Organisation (PESO) license for storing 40 kilolitres of petroleum and operates a petrol dispensing station in Rewari, Haryana.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 209.29 crore in FY22 to Rs 381.78 crore in FY23 to Rs 419.33 crore in FY24, while PAT increased from Rs 3.15 crore in FY22 to Rs 9.86 crore in FY23 to Rs 13.22 crore in FY24.
Tejas Cargo’s revenue is highly dependent on industries such as logistics, steel and cement, e-commerce, industrial and chemicals, FMCG, and white goods. These industries contributed 99.42%, 97.68%, 98.25%, and 99.15% to the company’s total revenue from operations in the six months ended September 30, 2024, and in FY24, FY23, and FY22, respectively. Any downturn in these industries or shifts in the supply chain strategies can negatively impact the company’s financial performance.
The company, its subsidiaries, promoters, and directors are involved in some ongoing legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
The company does not employ truck drivers directly but hires them on an ad-hoc basis. And being a logistics company, any difficulty in sourcing skilled and experienced drivers could adversely affect its operations.
As of September 30, 2024, Tejas Cargo has an outstanding financial indebtedness of Rs 204.99 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Fluctuating fuel prices pose a financial risk. Fuel costs accounted for 40.30% of the company’s total operating expenses for the six months ended September 30, 2024, and 47.22%, 46.51%, and 50.18% in FY24, FY23, and FY22, respectively. Any sharp rise in fuel prices, geopolitical disruptions, or supply chain constraints could significantly increase operating expenses and reduce profit margins.
The company primarily sources vehicles and spare parts from a few original equipment manufacturers (OEMs) in the goods transportation sector. This supplier concentration increases dependency, and any delays or failure to meet quality standards could hinder expansion plans and disrupt service delivery.
Tejas Cargo Limited Financials
*All values are in Rs. Cr
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Application Details of Tejas Cargo Limited IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹160 - 168 | ₹2 - 5 Lakh |
| Employee | ₹160 - 168 | ₹2 - 5 Lakh |
| High Networth Individual | ₹160 - 168 | ₹2 - 5 Lakh |
For Tejas Cargo Limited IPO, eligible investors can apply as Regular & Employee.