PDP Shipping & Projects Limited is coming up with an IPO with a fresh issue of 9,37,000 shares worth INR 12.65 crores. The company aims to fund long term working capital requirements and meet general corporate purposes. 

PDP Shipping & Projects IPO – Important Dates

Read more about PDP Shipping & Projects Limited IPO GMP

PDP Shipping & Projects Limited IPO – Company Profile 

PDP Shipping & Projects Limited is providing end-to-end solutions in the logistics & transport industry as a Multi Modal Transport Operator (MTO), sea and air freight transportation, custom clearance services and value added services in Logistics Industry. 

The company is an accredited Authorized Economic Operator (AEO) providing end to end logistics services and licensed by the Directorate General of Shipping, Government of India to work as a MTO and a Customs Broker, Licensed by Mumbai Customs, Department of Revenue of Government of India. 

The company is into business of providing services of International Freight Forwarding and global end to end transportation solutions and offering specialized services in project logistics (including super heavylift super Over Dimension Cargo (ODC) handlings, floating & beaching roll on – roll off (RoRo) loadouts, sea towing operations, sea fastening and other engineering solutions in project cargo and transportation).

PDP Shipping & Projects Ltd IPO Fundamental Analysis 

PDP Shipping & Projects has demonstrated financial strength in terms of asset growth, liquidity, and equity expansion, the declining revenue and profitability trends are concerning.

1. Revenue Trend

• Revenue declined from ₹2,248.19 lakhs in March 2023 to ₹2,051.60 lakhs in March 2024. The revenue of the company stood at ₹1,375.60 lakhs as of November 2024.
• The downward trend in revenue is a concern, as it indicates a decline in business activity or sales. Investors should investigate the reasons for this drop.

2. Equity Growth

• Equity has steadily increased from ₹353.06 lakhs in March 2023 to ₹741.49 lakhs in November 2024.
• This is a positive sign, reflecting the company’s ability to retain earnings and strengthen its capital base.

3. Expense Management

• Expenses decreased from ₹2,033.34 lakhs in March 2023 to ₹1,747.05 lakhs in March 202. The total expenses of the company is ₹1,168.62 lakhs as on November 2024.

• The company is effectively controlling costs, which has helped maintain profitability despite revenue declines.

4. Profit and Loss After Tax (PAT)

• Profit after tax increased from ₹168.19 lakhs in March 2023 to ₹231.39 lakhs in March 2024 despite the decrease in revneue. The profit of the company is ₹157.04 lakhs as on November 2024.

5. Diluted EPS (Earnings Per Share)

• EPS rose from ₹8.26 in March 2023 to ₹11.36 in March 2024 but dropped to ₹7.71 (not annualized) in November 2024.
• While past growth in EPS is a good sign, the recent drop may indicate lower earnings potential for shareholders.

6. Return on Net Worth (RoNW)

• RoNW decreased from 47.73% in March 2023 to 39.62% in March 2024. The RoNW as on November 2024 is 21.18% (not annualized).

7. NAV per Equity Share

• NAV per share grew from ₹17.30 in March 2023 to ₹36.39 in November 2024, showing consistent asset growth.
• This increase indicates the company’s improving financial strength.

8. Total Assets and Liabilities

• Total assets grew from ₹622.19 lakhs in March 2023 to ₹1,232.01 lakhs in November 2024.
• Liabilities fluctuated, decreasing from ₹269.13 lakhs in March 2023 to ₹242.02 lakhs in March 2024 before increasing significantly to ₹490.51 lakhs in November 2024.
• The rise in liabilities should be monitored, as it indicates higher financial obligations.

9. Debt to Equity Ratio

• The ratio remained low at 0.09 in March 2023 and March 2024 but increased to 0.48 in November 2024.
• This suggests an increase in debt financing, which could raise financial risk if not managed properly.

10. Current Ratio

• Improved from 1.19 in March 2023 to 2.08 in November 2024, indicating strong short-term liquidity.
• A higher current ratio is positive, showing the company’s improved ability to meet short-term obligations.

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PDP Shipping & Projects IPO Financial Analysis

PDP Shipping & Projects Limited IPO Peer Comparison

PDP Shipping & Projects reports ₹2,051.60 lakhs revenue with a strong RoNW of 39.62% and EPS of ₹11.36. S J Logistics leads with ₹27,086.02 lakhs revenue and ₹20.03 EPS. Marinetrans and Cargosol show weaker profitability.

PDP Shipping & Projects Ltd IPO Objective

The main objective of PDP Shipping & Projects Limited is to fund the long term fund working capital requirements. 

1. Funding long term working capital requirements: The business of the company is working capital intensive.The company intends to utilise INR 10.00 crores from Net Proceeds to meet its working capital requirement.

2. General Corporate Purpose: The company will deploy INR 0.80 crore, of Gross Proceeds, for general corporate purposes, including strategic initiatives, partnerships, acquisitions, branding, marketing, facility upgrades, client referrals, and other business needs.

PDP Shipping & Projects IPO Risks And Challenges

PDP Shipping & Projects Limited relies on five clients for 88% of its revenue and depends on third-party suppliers for operations. Client loss, supplier issues, or transport mishaps could negatively impact business, financial condition, and operational performance.

1. Almost 88% of the revenue of the company is dependent on 5 customers. The loss of any significant clients may have an adverse effect on the business, financial condition, results of operations, and prospects.

2. The company follows an asset light model and hence is heavily dependent on the third party suppliers for the use of shipping line, trucks, machinery and equipment etc.The loss of any significant such third-party suppliers may have an adverse effect on the business.

3. Breakdowns, Mishaps or accidents during cargo shipment or transportation could result in a loss or slowdown in operations and could also cause damage to life and property.

PDP Shipping & Projects Ltd IPO – Industry & Market Potential

Increasing investment and cargo traffic point towards a healthy outlook for the Indian ports sector. Providers of services such as operation and maintenance (O&M), pilotage and harbouring and marine assets such as barges and dredges are benefiting from these investments.

The capacity addition at ports is expected to grow at a CAGR of 5-6% till 2022, thereby adding 275-325 MT of capacity. Domestic waterways have been found to be a cost-effective and environmentally sustainable mode of freight transportation. The government aims to operationalize 23 waterways by 2030.

As part of the Sagarmala project, more than 574 projects worth Rs. 6 lakh crore (US$ 82 billion) have been planned for implementation between 2015 and 2035. In Maritime India Summit 2021, the Ministry of Ports, Shipping and Waterways identified a total of 400 projects worth Rs. 2.25 lakh crore (US$ 31 billion) investment potential.

PDP Shipping & Projects Limited IPO – Type of Offer

PDP Shipping & Projects Limited is coming up with an IPO with a fresh issue of 9,37,000 shares worth INR 12.65 crores. The company aims to fund its long term working capital requirements and meet general corporate purposes. 

PDP Shipping & Projects IPO Offer Size

The offer size of PDP Shipping & Projects Limited is INR 12.65 crores, consisting of a fresh issue of 9,37,000 shares. The company aims to fund its long term working capital requirements and meet general corporate purposes. 

PDP Shipping & Projects Limited IPO Allotment Structure

PDP Shipping & Projects Limited allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 47,000 shares for Market Makers. 

• Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs. 4,45,000 shares are allocated under this category.
• Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs. 4,45,000 shares are allocated under this category.
• Market Makers Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 47,000 shares for this purpose. 

 How to apply for the PDP Shipping & Projects IPO?

To apply for the PDP Shipping & Projects Limited IPO through Alice Blue, follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

1. Check for IPO Details: Once your account is active, you can check for the PDP Shipping & Projects Limited IPO details in the IPO section of the Alice Blue platform.
2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
3. Submit the Application: Confirm all your details and submit your application.

 You can apply for the PDP Shipping & Projects Limited IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How do you check PDP Shipping & Projects IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the PDP Shipping & Projects Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the PDP Shipping & Projects Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

 If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance. 

 Apart from Alice Blue, there are other ways to check the allotment status of the PDP Shipping & Projects Limited IPO:

● Registrar’s Website: Visit the website of Kfin Technologies Limited, the registrar of the PDP Shipping & Projects Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.

● BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange’s (BSE) Small Medium Exchange (SME) Platform. You would need your application number and PAN to check the status. 

Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.

PDP Shipping & Projects Ltd IPO Offer Registrar

The registrar for the PDP Shipping & Projects Limited IPO is Kfin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar: 

KFIN TECHNOLOGIES LIMITED

Selenium Tower B, Plot No. 31 and 32,

Financial District, Nanakramaguda, Serilingampally, Hyderabad,

Rangareddy,500 032, Telangana, India

Email: pdp.ipo@kfintech.com

Website: www.kfintech.com

PDP Shipping & Projects IPO – FAQs