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S J Logistics LTD IPO: Review, Valuation, Opening Date & GMP

  


S J Logistics LTD IPO Review

S J Logistics IPO - Complete Overview

Established in the year 2000, the Company embarked on its journey as a proprietorship under the visionary guidance of its promoter, Rajen Hasmukhlal Shah. In 2003, responding to market demands and seizing business opportunities in the logistics and freight forwarding industry, the promoter incorporated and initiated the freight forwarding business under the name "SJ Logistics (India) Private Limited."

In the fiscal year 2023, S J Logistics efficiently processed over 3,100 bills of lading, reaching diverse destinations worldwide. The company has further solidified its global footprint through cooperative and agency agreements with entities in countries such as Ecuador, Brazil, Chile, Peru, the United States of America, Hong Kong, Paraguay, Bolivia, China, and others.

SJA Logisol India Private Limited ("SJALIPL") and S. J. L. Group (Singapore) Pte. Ltd. stand as the two subsidiaries of S J Logistics. SJA Logisol India Private Limited primarily engages in providing logistics and transportation services, contributing to the comprehensive suite of solutions offered by the parent company. These strategic expansions and service enhancements underscore S J Logistics' commitment to excellence in the dynamic realm of logistics and supply chain management.

 

What does the company do?

The company has consistently evolved, expanding its presence, diversifying its service offerings, and enhancing its capabilities. The range of services has grown to encompass not only freight forwarding but also multimodal transportation, regulatory compliance services such as customs clearance, and various associated services.

Notably, the company has demonstrated proficiency in handling project cargo, requiring meticulous preparation and technological expertise. This specialized service involves addressing specific client needs for transporting large, heavy, valuable, or critical cargo such as power plants, excavators, transmission towers, etc. across different locations, employing a variety of transportation methods. Turnkey contracts are typically utilized for transporting oversized, over-dimensioned, critical, or high-value cargo.

 

 

S J Logistics IPO Overview

The S J Logistics IPO date is slated to be open for subscription from December 12, 2023, to December 14, 2023. This NSE SME IPO follows a Book Built Issue IPO.

The S J Logistics IPO price is fixed at Rs.121 to Rs.125 per share. The upcoming NSE SME IPO will be listed on December 19, 2023.

The total issue size of this IPO amounts to Rs.48.00 CR. Within this total issue, 35% is issued to retail investors.

 

S J Logistics IPO timetable (Tentative)

Events

Date

IPO Opening Date

12 December 2023

IPO Closing Date

14 December 2023

IPO Allotment Date

15 December 2023

Refund initiation

18 December 2023

IPO Listing Date

19 December 2023

 

S J Logistics IPO Details

IPO opening & closing date

12 December to 14 December 2023

Face value

Rs.10 per share

Issue Price

Rs.121 to Rs.125 per share

Lot Size

1000 Shares

Price of 1 lot

Rs. 1,25,000

Total Issue Size

3,840,000 shares (aggregating up to ?48.00 Cr)

Offer for sale

shares (aggregating up to Rs. Cr)

Fresh issue

3,840,000 shares (aggregating up to ?48.00 Cr)

Listing at

NSE SME

Issue Type

Book Built Issue IPO

Registrar

Maashitla Securities Private Limited

 

 

 

S J Logistics IPO Lot Details

Application

Lots

Shares

Minimum Lot Investment (Retail)

1 lot

1000

Maximum Lot Investment (Retail)

1 lot

1000

Minimum Lot Investment (HNI)

2 lot

2000

 

S J Logistics IPO Reservation

QIB Shares Offered

Not more than 50% 

Retail Shares Offered

Not more than 50% 

HNI Shares Offered

Not less than 15%

 

 

 

Company Financial

The company's total assets increased to ?10,541.07 Lakhs by Sep 30, FY 23, with total revenue at ?10,338.56 Lakhs. The profit after tax (PAT) was ?931.07 Lakhs, and the net worth reached ?5,640.93 Lakhs, comprising reserves & surplus of ?4,576.62 Lakhs. 

(Amount in Lakhs)

Period

Sep 30  FY 23

FY 23

FY 22

Total Assets

10,541.07

8,104.32

5,062.51

Total Revenue

10,338.56

13,500.99

10,395.18

PAT

931.07

761.56

172.99

Net worth

5,640.93

3,120.32

-

Reserve & Surplus

4,576.62

2,825.15

1,342.14

Total Borrowings

2,952.40

3,356.00

-

 

 Revenue Distribution Industry  Wise

The company's revenue sources for September 30, FY 23, were mainly from Yarn and Yarn commodities (47.20%), followed by Project Cargo (38.64%), and Other Commodities (13.35%). 

 ( % age) 

Particulars

Sep 30 F.Y. 23

F.Y 23

F.Y 22

Yarn and Yarn commodities

47.20

68.19

74.65

ODC (over dimension cargo)

0.81

1.47

0.35

Project Cargo

38.64

25.54

10.17

Other Commodities

13.35

4.79

14.83

Total

100.00

100.00

100.00

 

Revenue By operations

(amount in Lakhs)

Particulars

Sep 30 F.Y. 23

FY 23

FY 22

Revenue from operations

10309.45

13431.17

10362.43

Other Income

29.11

69.82

168.75

Total 

10338.56

13500.99

10531.18

 

The objective of the Issue

The company intends to use the net proceeds for the following objectives.

  • Repayment or partial/full pre-payment of specific company borrowings

  • Addressing working capital requirements

  • General corporate purposes

Promoters and Management of S J Logistics IPO

1. Rajen Hasmukhlal Shah

Pre-issue Promoter Shareholding

67.55%

Post-issue Promoter Shareholding

49.64%

 

S J Logistics IPO Lead Managers

  •  Hem Securities Limited

 

Peers of S J Logistics IPO

When compared to its peers, S J Logistics demonstrates a favorable balance, boasting a P/E of 14.14, RoNW of 24.41%, and EPS of Rs. 8.84.

 Name of the  company

P/E 

RoNW (%)

EPS (Basic)  (Rs.)

S J Logistics (India) Limited

14.14

24.41

8.84

Cargotrans Maritime Limited

16.64

18.45

5.74

Patel Integrated Logistics Limited

14.07

4.16

1.13

Tiger Logistics (India) Limited

18.12

23.78

21.94

Total Transport Systems Limited

78.70

6.75

3.47

 

 

 

 

IPO's Valuations

To evaluate the IPO's valuation, we can utilize the information presented in the company's DRHP and RHP. S J Logistics IPO  is fixed at Rs.121 to Rs. 125 per share, with an EPS of Rs.8.84. Based on the issue price the company's P/E ratio is calculated at 14.14.

 

Dividend Policy

The company does not have a formal dividend policy. Its capacity to declare dividends in the future hinges on its earnings and financial health.

 

IPO's Strengths

  • Access to markets worldwide, enabling global reach.

  • Well-established relationships with a loyal customer base.

  • Experienced promoters and a competent management team.

 

IPO's Weaknesses

  • Heavy dependence on customers located in the United States.

  • Facing competition from other players in the market.

  • Requirement to comply with various laws and regulations in these countries.

 

IPO GMP Today 

As of December 6th, 2023, the latest Grey Market Premium (GMP) for the SME IPO of S J Logistics stands at Rs.145.

 

Conclusion

S J Logistics, with its global presence, diverse service offerings, and experienced leadership, presents a promising investment opportunity. The company's financials, strengths, and strategic expansions contribute to its positive outlook. However, potential investors should consider the IPO's weaknesses, such as heavy reliance on the U.S. market and regulatory challenges.

 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

 

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Frequently Asked Questions

+
  • The IPO is open for subscription from December 12 to December 14, 2023.
+
  • The issue price is set at Rs. 121 to Rs. 125 per share, with a lot size of 1000 shares.
+
  • The IPO allotment is scheduled for December 15, 2023, and listing on December 19, 2023.
+
  • Total assets: ₹10,541.07 Lakhs, Total revenue: ₹10,338.56 Lakhs, PAT: ₹931.07 Lakhs, Net worth: ₹5,640.93 Lakhs.


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