Pooja Logistics IPO

SME • NSE SME • Fresh capital only

LISTEDSMENSE SME

Pooja Logistics

Price band

₹109 – ₹115

Lot size

1200 shares

Min investment

₹1,38,000

Issue size

₹44.23 Cr

About the company

Pooja Logistics Ltd was started in 2011. It provides temperature controlled logistics, moving goods that spoil if they get warm. These journeys are made in refrigerated trucks, known in the trade as reefers, which keep the cargo at a set temperature from loading to delivery. Its fleet is its own rather than hired. As on 31 August 2025 it ran more than 357 GPS-enabled vehicles dedicated to carrying temperature sensitive goods, with the tracking letting both the company and its customers see where a consignment is and that the temperature has held. Its customers come from five main areas. Confectionery and bakery, dairy and dairy products, quick service restaurants, pharmaceuticals and healthcare, and e-commerce and retail. These are industries where a break in the cold chain does not merely delay a delivery but destroys the goods, which is why the work tends to stay with operators who can prove reliability.

Pooja Logistics Ltd provides temperature-controlled logistics across India, carrying perishable goods in its own fleet of refrigerated trucks. As on 31 August 2025 it ran more than 357 GPS-enabled reefer vehicles serving confectionery and bakery, dairy, quick service restaurants, pharmaceuticals and e-commerce customers.

IPO details

Issue price: ₹115
Price band: ₹109 – ₹115
Face value: ₹10
Lot size: 1200
Min investment: ₹1,38,000
Issue size: ₹44.23 Cr
Sale type: Fresh capital only
Listing on: NSE SME
BSE scrip code: POOJALOGIS
NSE symbol: POOJALOGIS-SM.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,200	₹1,38,000
Retail (Max)	1	1,200	₹1,38,000
HNI (Min)	2	2,400	₹2,76,000

Investor reservation

CATEGORY	RESERVED
QIB	17,76,000 shares (49.66% of the Offer)
NII	5,40,000 shares (15.10% of the Offer)
Retail	12,60,000 shares (35.23% of the Offer)
Employee	72,000 shares (1.87% of the Offer)

Objects of the issue

1Purchase of Vehicles

2General Corporate Purpose

Financials

Rs. Crore • restated

METRIC	31 Mar 2025	31 Mar 2024
Assets	70.06	59.78
Total Income	150.49	125.14
Profit After Tax	11.02	5.73
EBITDA	23.09	19.13
NET Worth	25.85	14.83
Reserves and Surplus	15.85	14.73
Total Borrowing	29.00	31.03

Key performance indicators

P/E Ratio

13.31

EPS (₹)

8.64

RoCE

34.47%

RoNW

54.20%

PAT Margin

7.41%

EBITDA Margin

15.52%

Debt / Equity

1.12

NAV (₹)

25.85

✓ Strengths

• Profit nearly doubled in FY2025, from Rs 5.73 crore to Rs 11.02 crore.

• Sales grew from Rs 125.14 crore in FY2024 to Rs 150.49 crore in FY2025.

• EBITDA improved from Rs 19.13 crore to Rs 23.09 crore over the same period.

• Return ratios are very strong, with RoNW of 54.20% and RoCE of 34.47%.

• The issue is priced at about 13.31 times earnings on an EPS of Rs 8.64.

• It owns its fleet of more than 357 GPS-enabled reefer vehicles rather than hiring in capacity, which gives control over service quality.

• It serves five different customer industries, from dairy and bakery to pharmaceuticals and e-commerce, so it is not dependent on one sector.

• Cold chain demand is supported by the growth of quick commerce, packaged dairy and pharmaceutical distribution.

⚠ Risks

• Only two years of financial data are available and the latest is FY2025, ending 31 March 2025. There is no FY2026 figure for an issue opening in September 2026.

• The objects of the issue carry no amounts in the data available to us. They are listed only as purchase of vehicles and general corporate purposes, so how the Rs 44.23 crore will be split is not visible from here and must be read in the RHP.

• This is a capital heavy business. Reefer trucks are costly, wear out and need continuous replacement, so spending does not stop after this issue.

• Borrowing of Rs 29.00 crore is high against a net worth of Rs 25.85 crore, a debt to equity ratio of 1.12.

• Diesel and driver costs are the main expenses and both move outside the company's control.

• Cold chain work carries real liability. A refrigeration failure does not just delay a consignment, it destroys it, and the carrier bears that risk.

• Logistics customers usually work on annual rate contracts, so pricing is renegotiated regularly and margin can be squeezed.

• Promoter holding will come down from 93.68% to 68.45% after the issue.

• This is an SME issue. One lot is 1,200 shares, which is about Rs 1.38 lakh at the upper band of Rs 115, and SME shares usually trade in low volume after listing.

Promoters & holding

Deepak Khanna and Anu Khanna

Pre-issue promoter holding

93.68%

Post-issue promoter holding

68.45%

Data refreshed 07 Nov 2026, 04:53 pm IST. GMP is unofficial market sentiment, not investment advice.