Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company. The company offers fully customizable, multi-modal logistics solutions encompassing road, rail, water, and air transportation and a tailored range of value-added services.
The company offers sectors such as metals, fast-moving consumer goods (“FMCG”), pharmaceuticals, chemicals, engineering, oil and gas and retail. The company’s clientele includes Tata Steel Limited (“Tata Steel”), Hindalco Industries Limited (“Hindalco”), Jindal Stainless Limited (“JSL”), JSW Steel Coated Products Limited (“JSW”), Bharat Aluminium Company Limited(“BALCO”)and Vedanta Limited(“Vedanta”), Hindustan Unilever Limited (“HUL”), Hindustan Coca Cola Beverages Private Limited (“Coca Cola India”), Tata Consumer Products Limited (“Tata Consumer”),
Gujarat Tea Processors and Packers Limited (“Wagh Bakri”) and CG Foods India Private Limited (“CG Foods”), Cipla Limited (“Cipla”), Materials Chemicals and Performance Intermediaries Private Limited (“MCPI”) (formerly, MCC PTA India Corp. Private Limited, a subsidiary of Mitsubishi Chemical Corporation), Haldia Petrochemicals Limited (“Haldia”) and Gujarat Heavy Chemicals Limited(“GHCL”)Oil and Gas Brahmaputra Cracker and Polymer Limited(“BCPL”)Utilities and others*Sheela Foam Limited(“Sleepwell”)and DHL Logistics Private Limited.
The company provides chartering services to overseas destinations, stevedoring services at Indian ports, and coastal movement of cargo within India. They specialize in combining rail with road movements through an asset-light business model. The company manages and handles the supply chain for increased imports, exports, and production levels for a leading metals and resource group company.
As of December 31, 2022, the company served a d over 1,100 customers.
As of December 31, 2022, the company had 1,350 employees in various departments.
Western Carriers (India) Limited’s revenue increased by 3% and profit after tax (PAT) rose by 12% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 754.01 | 604.14 | 490.33 | |||||||||||||||||||||||||||
| Revenue | 1,691.41 | 1,637.84 | 1,475.79 | |||||||||||||||||||||||||||
| Profit After Tax | 80.35 | 71.57 | 61.13 | |||||||||||||||||||||||||||
| Net Worth | 398.36 | 318.61 | 257.58 | |||||||||||||||||||||||||||
| Reserves and Surplus | 359.01 | 279.08 | 157.12 | |||||||||||||||||||||||||||
| Total Borrowing | 266 | 210.47 | 150.4 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
The market capitalization of Western Carriers (India) IPO is Rs 1753.63 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 22.41% |
| ROCE | 29.23% |
| Debt/Equity | 0.67 |
| RoNW | 20.17% |
| P/BV | 3.4 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.21 | 7.88 |
| P/E (x) | 16.85 | 21.83 |
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the Offer expenses apportioned to the Company (“Net Proceeds”) are proposed to be utilised in the following manner:
| IPO Date | September 13, 2024 to September 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹163 to ₹172 per share |
| Lot Size | 87 Shares |
| Total Issue Size | 28,655,813 shares (aggregating up to ₹492.88 Cr) |
| Fresh Issue | 23,255,813 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 5,400,000 shares of ₹5 (aggregating up to ₹92.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 78,699,400 |
| Share holding post issue | 101,955,213 |
Promoters of the company and Rajendra Sethia and Kanishka Sethia.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue |
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