Shreeji Shipping Global IPO GMP & Subscription status

Core Business & Overview

• Background & Incorporation
  Shreeji Shipping began as a partnership firm in June 1995, was converted into a private limited entity in April 2024, and further transitioned into a public limited company in November 2024, now known as Shreeji Shipping Global Limited.
• Service Offerings & Scope
  The company specializes in lightering and stevedoring operations—key mid-stream services—for dry bulk cargo at both all-weather and seasonal ports across India and Sri Lanka. Their services include cargo handling, transportation, fleet chartering, and equipment rentals. They operate at ports like Navlakhi, Kandla, Marmugao, V. O. Chidambaranar, and others.
• Scale & Infrastructure
  Annually, Shreeji handles approximately 14 million metric tons of dry bulk cargo. They support operations with a robust management team, a highly trained technical workforce, a large fleet of equipment, and advanced handling infrastructure.
• Commitment to Productivity & Safety
  The company emphasizes maximizing productivity while minimizing losses, ensuring cargo preservation and pollution control, and adhering to strict safety standards.
• Strategic Vision & Mission
  • Vision: To become a leading name in port-based services, setting industry benchmarks for quality.
  • Mission: Focused on fostering a client-centric culture through innovative technology, strong infrastructure, and collaboration among teams in marketing, logistics, operations, finance, legal, and customer support.

Strengths

1. Extensive Operational Network
   Presence across multiple strategic ports in India and Sri Lanka provides operational flexibility and reach.
2. Large Handling Capacity
   Handling 14 million metric tons of cargo annually is a strong indicator of scale and market presence.
3. Skilled Workforce & Equipment Resources
   A professional management team, trained technical staff, and vast handling infrastructure lend competitive advantage.
4. Focus on Efficiency, Safety & Environment
   Strategic emphasis on reducing losses, preventing pollution, and maintaining safety standards positions them well in overall operations.

Potential Risks

1. Dependence on Seasonal Operations & Port Conditions
   Many operations depend on all-weather versus seasonal port availability. Seasonal closures due to monsoons or adverse weather could disrupt operations.
2. Capital Intensity & Asset Acquisition
   The reliance on heavy equipment and vessels requires continuous investment. The IPO proceeds aim to address such needs.
3. Market & Regulatory Exposures
   As a shipping/logistics operator, Shreeji is exposed to fluctuating freight rates, port tariffs, regulatory changes, and competition. While not explicitly cited, these are inherent industry risks.
4. Integration Challenges Post-IPO
   Transitioning to a public limited structure and integrating funds from the IPO may introduce organizational and compliance complexities.
5. Competitive Landscape
   The broader logistics and cargo handling industry is competitive. While Shreeji has strengths, thriving against established players requires ongoing differentiation and operational excellence.

Financial Performance Overview (₹ in Crore)

Revenue

• FY 2023: ₹827 crore
• FY 2024: ₹731 crore (↓ Decline due to lower cargo volumes and industry slowdown).
• FY 2025: ₹607.61 crore (↓ Further decline, but efficiency measures helped sustain profitability).

Revenue is falling year-on-year, which is a concern.

Profit

• FY 2023: ₹118.88 crore
• FY 2024: ₹124.51 crore (↑ Slight improvement despite revenue dip).
• FY 2025: ₹141.24 crore (↑ Strong growth in profit).

Even with declining revenue, profit is rising due to better cost management, improved operational efficiency, and higher margins.

Assets

• FY 2023: ₹600.92 crore
• FY 2024: ₹610.65 crore (↑ Slight increase).
• FY 2025: ₹758.58 crore (↑ Significant growth).

Assets are expanding, likely from investments in equipment, vessels, and infrastructure, preparing for long-term growth.

✅ Pros

• Strong presence across key Indian and Sri Lankan ports.
• Handles ~14 million MT cargo annually, showing scale.
• Profits growing despite revenue decline.
• Expanding asset base for future growth.
• Experienced management and skilled workforce.

❌ Cons

• Revenue declining for the last three years.
• High dependence on seasonal and weather-sensitive ports.
• Capital-intensive business needing continuous investment.
• Exposed to global trade, freight rate, and regulatory risks.
• Competitive shipping and logistics industry pressures margins.