Committed Cargo Care
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 06 Oct 2023 – 10 Oct 2023
- Listing date
- 18 Oct 2023
- Face value
- ₹10 per share
- Issue price
- ₹77 per share
- Lot size
- 1,600 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹24.95 Cr
- Market cap at offer price
- ₹83.23 Cr
- Promoter holding
- 98.00% → 68.63% pre-issue → post-issue
- ISIN
- INE597Z01014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Fedex Securities Pvt.Ltd.
- Registered office
- Khasra No.406, Ground Floor, A-Block, Gali No.-8 Mahipalpur Extn., New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,64,800 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹77
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,23,200 |
| S-HNI (min) | 2 | 3,200 | ₹2,46,400 |
| S-HNI (max) | 8 | 12,800 | ₹9,85,600 |
| B-HNI (min) | 9 | 14,400 | ₹11,08,800 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.04 | — |
| P/E (×) | 10.94 | — |
| Market cap | — | ₹83.23 Cr |
Key performance indicators
- Return on net worth
- 18.48%
- ROCE
- 24.06%
- PAT margin
- 4.36%
- NAV per share
- ₹38.11
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Committed Cargo Care
Committed Cargo Care Limited (CCCL) is a logistics services company incorporated in 1998, originally as a private limited company and converted to public limited status in January 2018. The company provides integrated logistics solutions encompassing cargo management, order management, international freight management, customs and cross-border movement, heavy and over-dimensional cargo movement, warehousing, and freight forwarding services. It handles export and import cargo clearance for commercial, diplomatic and non-diplomatic consignments. The company operates across multiple modes of transportation including air, courier, sea and road, positioning itself to provide cost-effective transportation solutions. As of the prospectus date, the company has five promoters: Rajeev Sharma, Nitin Bharal, Narendra Singh Bisht, Yash Pal Arora and Sonia Bharal.
Company Analysis
from RHPCommitted Cargo Care Limited provides integrated logistics services including cargo management, freight forwarding, customs clearance, and heavy cargo transportation across air, sea, and road modes.
Committed Cargo Care Limited (CCCL) is a logistics services company incorporated in 1998, originally as a private limited company and converted to public limited status in January 2018. The company provides integrated logistics solutions encompassing cargo management, order management, international freight management, customs and cross-border movement, heavy and over-dimensional cargo movement, warehousing, and freight forwarding services. It handles export and import cargo clearance for commercial, diplomatic and non-diplomatic consignments. The company operates across multiple modes of transportation including air, courier, sea and road, positioning itself to provide cost-effective transportation solutions. As of the prospectus date, the company has five promoters: Rajeev Sharma, Nitin Bharal, Narendra Singh Bisht, Yash Pal Arora and Sonia Bharal.
Objects of the Issue
- Funding the working capital requirements of our Company ₹1596.05 Lakhs p.19
- General corporate purposes ₹598.75 Lakhs p.19
- Meeting working capital requirements ₹1596.05 Lakhs p.66
- General corporate purposes ₹544.75 Lakhs p.66
Issue Structure
- Total Issue
- ₹2494.80 Lakhs (32,40,000 equity shares)
- Fresh Issue
- 32,40,000 Equity Shares of face value ₹10/- each at ₹77 per share aggregating ₹2494.80 Lakhs
- Offer for Sale
- NA
- Price Band
- ₹77 per equity share (fixed price)
- Lot Size
- 1600 Equity Shares (Application Lot)
- Face Value
- ₹10 per equity share
Business Model
The company earns revenue from providing integrated logistics services including cargo management solutions, order management, international freight management, customs clearance, freight forwarding, warehousing, and heavy/over-dimensional cargo transportation. Revenue is generated from commercial consignments, diplomatic shipments, and special forwarding services across multiple transportation modes.
Business Segments
SWOT Analysis
- • Established long-standing relationships with major customers providing business stability(p.99)
- • Experienced promoter and management team with over 25 years combined logistics industry experience(p.94)
- • Established supplier relationships with top 5 suppliers for over 5 years(p.100)
- • Comprehensive end-to-end logistics service offering across air, ocean, road and multi-modal transport(p.94)
- • ISO 9001:2015 certified with FIATA, ACAAI and IATA accreditation(p.94)
- • Well-defined organizational structure enabling efficient decision-making(p.100)
- • 24/7 online tracking and tracing facility providing competitive advantage(p.98)
- • Long-standing operational experience and industry accreditation(p.112)
- • Strong promoter experience in logistics sector with 20+ years tenure(p.116)
- • Proven track record of financial growth and profitability(p.112)
- • ISO certification demonstrating quality management standards(p.112)
- • Low financial leverage with minimal debt(p.158)
- • Established integrated logistics service offerings(p.166)
- • High customer concentration risk(p.25)
- • Significant litigation exposure with tax department(p.24)
- • High direct cost ratio pressuring margins(p.26)
- • Dependence on leased premises including registered office(p.27)
- • Negative operating cash flows in recent period(p.30)
- • Untraceable corporate records from pre-2006(p.29)
- • Missing educational qualification documentation for promoters/directors(p.31)
- • No long-term contracts with key service providers(p.26)
- • Heavy dependence on few major customers with top 5 accounting for 47% of revenue(p.101)
- • Concentration of corporate records and historical documentation gaps(p.55)
- • Limited presence currently restricted to Delhi, Mumbai, Chennai, Jaipur, Ludhiana, Agra and Kolkata(p.94)
- • Relatively small scale compared to listed peers with total income of ₹14,612.17 lakhs vs competitors with ₹41,000+ lakhs(p.76)
- • Significant pending tax litigation with uncrystallized contingent liabilities(p.156)
- • High concentration of revenue from top 10 customers(p.172)
- • Promoter group involvement in related party transactions with competing entity(p.130)
- • Multiple civil recovery suits pending against customers with extended payment defaults(p.175)
- • Decline in revenue year-on-year despite operating as established player(p.169)
- • Dependence on few material creditors(p.177)
- • Limited operating profit in recent period(p.182)
- • Pan-India expansion into Tier II and Tier III cities with significant industrial opportunities(p.101)
- • Overseas expansion plans in Middle East, Americas and Australia(p.101)
- • Investment in own fleet and warehouse infrastructure to improve margins and service efficiency(p.101)
- • India's logistics sector projected to grow at 7% CAGR driven by e-commerce, retail and rising GDP(p.90)
- • Government's National Logistics Policy and infrastructure initiatives supporting sector growth(p.91)
- • Rising manufacturing and export activity creating demand for 3PL services(p.90)
- • Expanding customs brokerage and freight forwarding business nationally(p.111)
- • Leveraging national Customs Broker authorization for pan-India operations(p.112)
- • Growing logistics demand through government import-export regulatory support services(p.111)
- • Expansion into specialized logistics segments including diplomatic and government cargo(p.166)
- • Strengthening existing network with increased investment in technology and infrastructure(p.141)
- • Mandatory market-making support for three years post-listing(p.200)
- • Potential migration to NSE Main Board after two years on EMERGE(p.200)
- • Intense competition from domestic and international logistics providers(p.25)
- • Carrier and labour cost inflation impacting profitability(p.26)
- • Natural calamities and external disruptions to operations(p.36)
- • Road network and transportation infrastructure dependency risks(p.28)
- • Regulatory changes and compliance requirements uncertainty(p.36)
- • Global economic and financial market volatility(p.35)
- • Hazardous goods handling liability exposure(p.26)
- • Foreign investment restrictions under Indian law(p.38)
- • Highly fragmented and competitive unorganized logistics industry with many small and medium-sized competitors(p.102)
- • Global economic slowdown and reduced freight volumes impacting demand(p.84)
- • Supply chain disruptions and port congestion affecting cargo movement and costs(p.92)
- • Currency exchange rate fluctuations affecting international freight operations(p.67)
- • Regulatory changes in foreign trade policy and customs procedures affecting operations(p.108)
- • Rising operational costs and pressure to reduce logistics costs for competitiveness(p.93)
- • Material contingent tax liability from Service Tax authority show-cause notice(p.156)
- • Promoter litigation exposure from prior corporate insolvency proceedings(p.176)
- • Dependence on customs clearance regulatory framework subject to policy changes(p.167)
- • Industry cyclicality and exposure to international trade volatility(p.167)
- • Customer concentration risk with top 10 customers representing nearly 47% of revenue(p.172)
- • Exposure to foreign currency fluctuations in international freight operations(p.144)
- • Litigation involving promoters (civil proceedings pending)(p.177)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Rajeev Sharma | Promoter | 23.64% | — |
| Nitin Bharal | Promoter | NA | — |
| Narendra Singh Bisht | Promoter | 20.85% | — |
| Yash Pal Arora | Promoter | 21.82% | — |
| Sonia Bharal | Promoter | 24.50% | — |
| Rajeev Sharma | Promoter | 23.64% | 16.56% |
| Narendra Singh Bisht | Promoter | 20.85% | 14.60% |
| Yashpal Arora | Promoter | 21.82% | 15.28% |
| Sonia Bharal | Promoter | 24.50% | 17.16% |
| Nitin Bharal | Promoter | 0% | 0% |
| Niraj Bisht | Promoter Group | 3.65% | 2.55% |
| Sapna Arora | Promoter Group | 2.68% | 1.88% |
| Manju Sharma | Promoter Group | 0.86% | 0.60% |
| Rajeev Sharma | Promoter/Managing Director | 24.50% | — |
| Nitin Bharal | Promoter/Whole Time Director | 0% | — |
| Narendra Singh Bisht | Promoter/Whole Time Director and CFO | 20.85% | — |
| Yash Pal Arora | Promoter/Whole Time Director | 21.82% | — |
| Sonia Bharal | Promoter | 24.50% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.