Zinka Logistics Solutions (Blackbuck) IPO Review

BlackBuck is a platform providing payments, telematics, loads marketplace and vehicle financing services. These solutions aim to digitally empower truck operators and help them operate their business effectively and efficiently. The customers rely on the BlackBuck app for running the day-to-day operations of their business, including tolling and fueling payments, vehicle and fuel levels tracking and loads matching.

The Company is led by Promoters, namely, RAJESH KUMAR NAIDU YABAJI, CHANAKYA HRIDAYA AND RAMASUBRAMANIAN BALASUBRAMANIAM.

The Revenues from operations for the Fiscals 2024, 2023 and 2022 were ₹3,165.14 Lakhs, ₹1,950.92 Lakhs and ₹1,561.28 Lakhs, respectively. The EBITDA for the Fiscals 2024, 2023 and 2022 were ₹-1,387.80 Lakhs, ₹-2,130.78 Lakhs and ₹-1,977.35 Lakhs, respectively. The Profit after Tax for the Fiscals 2024, 2023 and 2022 was ₹-1,669.86 Lakhs, ₹-2368.49 Lakhs and ₹-2,303.49 Lakhs, respectively.

For the Zinka Logistics Solutions IPO, the company is issuing shares at a pre-issue EPS of ₹-9.06 and a post-issue EPS of ₹. The pre-issue P/E ratio is -30.13x, while the post-issue P/E ratio is x against the Industry P/E ratio is 305.96x. The company's ROCE for FY24 is -33.84% and RoE for FY24 is -53.64%. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Zinka Logistics Solutions showing potential listing gains of 0%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Zinka Logistics Solutions Limited IPO for Listing gain or long term investment purposes.

Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 

About the Author
 CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.
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