RITCO Logistics Ltd

About the Company:

RITCO Logistics is an integrated supply chain solution company, providing land base logistics, warehouse and other value-added services in India.

Company offers a broad, integrated freight transpiration service under bulk load, dedicated load (to-and-fro), full truck load (FTL) and less than truck load (LTL) utilizing company owned fleets or through independent third party-operator and other ancillary services such as warehouse and value-added services.

Company offers technology-enabled logistic and other distribution solution designed primarily for the corporate customer.

They operate PAN-India through an established network of 30 branches (6 fleet centers and 9 warehouses).Further, company also manages over 1 lakh sq. ft. of warehouse space, and these warehouses are either rented/leased.

In addition to the supply chain solution, a small portion of revenue includes fleet rental service, wherein company provides their fleet on a rental basis to the small retail customers.


Company’s Operations Background:

RITCO Logistics operates a technology-enabled fleet of more than 355 fleets and approximately 1,400 fleets provided by independent third party-operators, out of total
fleets approximately 70% fleets are on roads daily on an average basis.

They operate PAN-India through an established network of 30 branches (6 fleet centers and 9 warehouses).

Further, company also manages over 1 lakh sq. ft. of warehouse space, and these warehouses are either rented/leased.

During financial year 2018, company transported or arranged approximately 8 lakhs tons of loads for shipment throughout PAN India.


Company’s Customers.

RITCO Logistics serves hundreds of customer ranging from small to medium-sized companies to major corporates, operating in various sectors across India, including
petrochemicals, fast-moving consumer goods (FMCG), automobile, tyre, electronic, mineral, metal, and garment.

The Client List includes ONGC, Reliance Industries, Indian Oil, Gail, Hindustan Uniliver Ltd, Dabur, Emami, Parle, JK Tyres, MRF, CEAT, Apollo Tyres, BHEL, ITC Ltd, Berger Paints etc


Company’s Fleet Size: 


Services offered by the Company:

RITCO Logistics offers an integrated supply chain solution utilizing their 3 Business Divisions:

Contract Logistics Division: For bulk load, full truck load and dedicated load transportation.

Fleet Management Division: For fleet operation and fleet rental service.

LTL and Warehousing and value-added services Division: For less than truck load transportation, warehousing, distribution, and other value-added services.


Competitors for the Company:

RITCO Logistics has a number of competitors offering similar services which include: Mahindra Logistics Ltd, Future Supply Chain Solutions Ltd, Transport Corporation of India Ltd, Gati Ltd, and VRL Logistics Ltd.


Management Team:

  1. Mr. Sanjeev Kumar Elwadi (Designation: Chairman and Managing Director)
  2. Mr. Shyam Sunder Elwadhi (Designation: Non- Executive Director)


Objectives of the Issue:

  • Warehouse development.
  • Technology upgradation /development of Digital Platform.
  • Fleet Centre Upgradation/ development.
  • Funding the working capital requirements of the Company.
  • General corporate purposes.


Financials of the Company:

(in Crores) FY 16 FY 17 FY 18 30th Sept 18
Revenue 314.16 328.96 343.91 208.60
Net Profit 1.43 3.81 10.27 6.21


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Ritco Logistics Ltd 10 5.28 13.82 21.44% 24.62
Mahindra Logistics Ltd 10 8.78 58.07 14.85% 58.88
VRL Logistics Ltd 10 10.17 28.13 15.60% 65.66
Transport Corporation of India 2 13.53 20.09 15.33% 88.40
GATI Ltd 2 3.35 25.79 4.57% 69.59
AVG Logistics Ltd 10 10.47 7.26 25.50% 41.06


IPO Details:

Details Info
Issue Opens on 28th January 2018
Issue Closes on:. 30th January 2018
Issue Price Rs.71 – 73
Face Value Rs.10
Minimum Lot 1600 Shares
Minimum Investment Rs.1,16,800
Issue Constitutes 26.96%
Issue Size Rs.48.18 cr
Market Cap Rs.178.67 cr
Listing at BSE SME
Equity Shares Offered (Fresh) 50,00,000
Equity Shares Offered (OFS) 16,00,000
Equity Shares Offered (OFS+Fresh) 66,00,000
Equity Shares Prior to the Issue 1,94,76,618
Equity Shares after the Issue 2,44,76,618


Check IPO Allotment Status:

Link InTime Website (Click on the below Link)



Company Contact Info:
Ritco Logistics Limited
508, 5th Floor, Jyoti Shikhar Tower,
District Centre, Janakpuri,
New Delhi – 110 058
Tel: 011-25522158
Email: cs@ritcologistics.com
Website: www.ritcologistics.com


IPO Registrar Info:
C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra , India
Tel: +91 22 4918 6200;
Email: ritco.ipo@linkintime.co.in
Website: www.linkintime.co.in


Lead Manager to the Issue:
406-408, Keshava Premises, Behind Family Court, Bandra Kurla
Complex, Bandra East, Mumbai – 400 051, Maharashtra, India
Tel: +91-22 6194 6700;
Email: ipo@pantomathgroup.com
Website: www.pantomathgroup.com