Brace Port Logistics IPO Review

Brace Port Logistics is a service-based logistics company, comprising of 50 plus trained and experienced professionals. The organization has rich industry expertise of more than two decades. Their aim is to provide highly optimized and customized supply chain solutions to their customers with unified technology systems.
 
The company is promoted by corporate promoter M/s. Skyways Air Services Private Limited which is the flagship company of Skyways Group and our company is the subsidiary company of Skyways Air Services Private Limited, Yash Pal Sharma has an overall experience of around 28 years in the field of logistics, Tarun Sharma has an overall experience of 16 years in the ocean freight industry, Sachin Arora hasan overall experience of more than 22 years and Rishi Trehanhas has more than 9 years in the industry. 

Financially, Brace Port Logistics revenue increased from ₹5,419.57 Lakhs in FY22 to ₹7,093.66 Lakhs in FY23 and currently at ₹5,524.59 Lakhs in FY24. Similarly, EBITDA also increased from ₹430.02 Lakhs in FY22 to ₹793.65 Lakhs in FY23 and currently at ₹678.91 Lakhs in FY24. The PAT also increased from ₹322.39 Lakhs in FY22 to ₹618.09 Lakhs in FY23 and currently at ₹489.13 Lakhs in FY24. This indicates a somewhat steady financial performance.

For the Brace Port Logistics IPO, the company is issuing shares at a pre-issue EPS of ₹5.93 and a post-issue EPS of ₹4.32. The pre-issue P/E ratio is 13.49x, while the post-issue P/E ratio is 18.51x against the industry P/E ratio of 25.50x. The company's ROCE for FY24 is 47.05% and ROE for FY24 is 43.19%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Brace Port Logistics indicates potential listing gains of 85% - 90%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply the Brace Port Logistics Limited IPO for Listing gain or long term investment purposes.