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Western Carriers (India) IPO
Western Carriers (India) Ltd
₹14,181 /87 sharesMinimum Investment
Western Carriers (India) IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 13 Sep ‘24 - 19 Sep ‘24 | ₹14,181 | 87 | ₹163 - ₹172 |
| Issue Size | IPO Doc |
|---|---|
| 492.88Cr | RHP PDF |
Subscription rate
As of 19 Sep'24, 05:00 PM
| Qualified Institutional Buyers | 17.81x |
| Non-Institutional Investor | 43.77x |
| Retail Individual Investor | 25.05x |
| Total | 27.04x |
About Western Carriers (India)
Founded in
2011
Managing director
Mr. Rajendra Sethia
Parent organisation
Western Carriers (India) Ltd
Strengths & Financials of Western Carriers (India)
Strengths
Risks
The company has a clientele of over 1,100 customers from different industrial sectors. These include Tata Steel, Hindalco Industries, Jindal Stainless, JSW Steel Coated Products, Hindustan Unilever, Hindustan Coca-Cola Beverages, Tata Consumer Products, Cipla, Haldia Petrochemicals, Tata Steel, Hindalco, and BALCO.
The company owns over 400 GPS-enabled heavy commercial vehicles, more than 100 pieces of heavy equipment, and over 400 shipping containers.
Western Carriers also provides chartering services for overseas destinations, stevedoring services at Indian ports, and facilitates the coastal movement of cargo within India.
The company has seen a consistent increase in its revenue from operations and profit after tax (PAT) over the years. The revenue from operations increased from Rs 1,067.29 crore in FY20 to Rs 1,110.11 crore in FY21 and further to Rs 1,470.87 crore in FY22, while the PAT increased from Rs 35.86 crore in FY20 to Rs 44.53 crore in FY21 to Rs 61.13 crore in FY22.
A significant portion of the company’s revenue is generated from certain key customers in the metals and FMCG sectors. The company’s top 10 customers contributed Rs 817.64 crore (67.75%), Rs 1,056.07 crore (71.80%), Rs 818.45 crore (73.73%), and Rs 805.06 crore (75.43%) to revenue from operations in the nine months ending December 2022, FY22, FY21, and FY20, respectively. Any decline in the revenue generated from them due to lack of demand or loss of these customers can be detrimental to the company’s finances and operations.
The company frequently provides rail container logistics services to its customers, for which it is dependent on an Indian rail container logistics provider. This provider is currently under government control. Any adverse changes in this control can disrupt the company’s relationship with the provider, which can negatively impact the company’s operations.
Western Carriers' customer contracts are subject to termination without cause, on short notice, and without compensation. Any non-compliance with contract terms may lead to damages or contract cancellations.
The company’s performance depends on the consistent and efficient use of logistics infrastructure. Disruptions or deficiencies in this infrastructure can adversely impact the company’s operations.
As of March 31, 2023, Western Carriers’ total outstanding borrowings amounted to Rs 260.80 crore. Any inability to service or repay these loans can adversely affect the company’s financial standing.
There are ongoing legal proceedings involving the company, its directors, and promoters. Any adverse judgments in any of these cases can be detrimental to the company's reputation and growth prospects.
Western Carriers (India) Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Western Carriers (India) IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹163 - 172 | Upto ₹2 Lakh |
| High Networth Individual | ₹163 - 172 | ₹2 - 5 Lakh |
For Western Carriers (India) IPO, eligible investors can apply as Regular.