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:
- Mr. Sanjeev Kumar Elwadi (Designation: Chairman and Managing Director)
- 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: |
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Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssue/ |
| 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: |
|---|
| LINK INTIME INDIA PRIVATE LIMITED 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: |
|---|
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 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 |
