Subscribe for Western Carriers (India) Ltd; Anand Rathi

Anand Rathi, has come out with its report on Western Carriers (India) Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on September 10 2024.

Broker Research

September 13, 2024 / 10:57 IST

ipo

Anand Rathi, Western Carriers (India) Ltd

The company was incorporated as ‘Western Carriers (India) Pvt. Ltd’ at Kolkata, in 2011. Subsequently, the name was changed to ‘Western Carriers (India) Ltd’ on conversion to a public limited company in February 2013. Western Carriers (India) is the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled by private players in FY2023. The company’s domestic and EXIM market share, based on container volumes handled, was 6% and 2%, respectively, in FY2023. The company provides end-to-end, customized, multi-modal logistics solutions across the supply chain integrating road, railway, water and air logistics along with a customized suite of value-added services.

Valuation and Outlook

At the upper price band company is valuing at P/E of 21.8x with a market cap of ₹ 17,536 million post issue of equity shares and return on net worth of 22.4%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a “SUBSCRIBE” rating to the IPO.

For all IPO report, click here