| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 20.10 | 21.43 | 30.85 |
| Expenses | 16.22 | 17.24 | 21.84 |
| Other Income | 0.23 | 0.18 | 0.22 |
| Total Revenue | 20.33 | 21.61 | 31.07 |
| Profit Before Tax | 4.11 | 4.37 | 9.23 |
| Net Profit | 3.00 | 3.11 | 5.86 |
Apana Logistics
Apana Logistics IPO
₹2,40,000
1.17 xOver-subscribedBidding Dates 07 Sept, 26 -09 Sept, 26
Min Investment ₹2,40,000
Lot Size2,000
Price Range ₹60 – ₹60
Issue Size ₹34.14 Cr.
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IPO Subscription Details
Retail Subscription Details
1.98 x
Non-Institutional Buyers (bHNI)
0.16 x
Total1.17 x
1.17 x IPO Timeline
IPO Offer Start
07 Sept,26
IPO Offer Ends
09 Sept,26
Allotment Finalisation
10 Sept,26
Refund Initiation
11 Sept,26
Listing of Shares
15 Sept,26
IPO Analysis
Strengths
The company's service offerings are diverse covering container handling at CFS/ICD/port, road transportation, cargo handling at third-party warehouses, and repairs & maintenance of trucks-trailers, enabling up-selling and down-selling services to customers and vendors.
The company has necessary financial, technical and asset-based requirements with extensive work experience providing track record to participate and qualify in tenders floated by government and semi-government entities.
The company adheres to quality standards required as per industry norms and contracts, capable of providing quality services at competitive prices resulting in winning tenders and seeking repetitive work orders.
Risks
The company depends on a limited number of key customers for the majority of its revenues, with top 5 customers representing 97.79%, 98.85%, and 94.66% of revenue from operations in fiscal 2026, 2025, and 2024 respectively. Loss of any key customer could materially and adversely affect the company's business, results of operations, cash flows and financial condition.
The company relies heavily on network partners, third-party service providers and vendors for critical operations, with payments to these parties representing 47.13%, 30.87%, and 51.68% of revenue from operations in fiscal 2026, 2025, and 2024 respectively. Disruption of these relationships or unsatisfactory services could significantly impact business operations and profitability.
The company is unable to trace some historical records including minutes of Board meetings, shareholder meetings, and corresponding form filings with the Registrar of Companies. There have been instances of delayed statutory filings and non-compliances that could result in penalties or regulatory action affecting the company's financial position.
Objectives
The company proposes to utilize funds for purchasing up to 9 reach stackers to enhance cargo handling capacity, improve operational efficiency, reduce reliance on third-party fleets, and ensure timely fulfillment of customer orders.
The company intends to deploy funds for general corporate purposes including meeting operating expenses, strengthening business development and marketing capabilities, and meeting exigencies in the ordinary course of business.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 25.05 | 28.95 | 36.84 |
| Current Assets | 9.40 | 8.00 | 12.92 |
| Fixed Assets | 15.65 | 20.95 | 23.92 |
| Total Equity & Liabilities | 25.05 | 28.95 | 36.84 |
| Total Liabilities | 13.18 | 14.54 | 16.56 |
| Current Liabilities | 5.16 | 6.84 | 9.27 |
| Non Current Liabilities | 8.02 | 7.70 | 7.29 |
| Total Equity | 11.87 | 14.41 | 20.27 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 0.62 | -0.17 | -0.72 |
| Investing Activities | -7.70 | -6.08 | -4.00 |
| Operating Activities | 1.06 | 8.18 | 6.06 |
| Financing Activities | 7.25 | -2.28 | -2.78 |
About Apana Logistics
Apana Logistics Limited is engaged in providing logistics support for handling and transportation of containers with a fleet including reach stackers, forklifts, and truck-trailers. The company offers diversified services including container handling at CFS/ICD/port, road transportation, cargo handling at third-party warehouses, and repair, operation & maintenance of trucks-trailers. The company...more
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Managing DirectorPratyaksh Sureka
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