Global Ocean Logistics India Limited is a freight forwarding company having multi modal logistics solutions. They have logistics services with diverse capabilities across verticals include (i) shipping/coastal transportation including ODC (Over Dimensional Cargo) ('Ocean Freight Forwarding'); (ii) road/rail transportation ('Transport'); (iii) air cargo ('Air Freight Forwarding') (iv) Container Freight Station solution ('CFS'); (iv) Custom Clearance (v) and; other services. They also provide integrated logistics solutions including project logistics and third party logistics ('3PL'). They operate through major Indian ports, including NHAVA Sheva, Hazira, Tumb, Pune, Mundra and Chennai and have pan-India operations covering over 23 states and union territories through the network of 4 marketing offices located in the city of Vishakhapatnam, Jaipur, Pune, Tuticorin. They primarily served clients through 263 ports across the globe and handled about 30,520 shipments and 91, 968 TEUs from Fiscal 2023 to period ended September 30, 2025. Our in-house team consisting of 55 personnel as of October 31, 2025. Company operates an 'asset-light' business model, leveraging a network of trusted business partners for assets such as containers, commercial vehicles, warehouses and multi-axle transporters. The company has license and certificate of MTO, FMC, AEO, FFFI and ISO. Company specializes in providing services to importers sourcing goods from key regions, including Europe, the USA, South Africa, China, Southeast Asia, and the Gulf countries, where they have an established presence through the network of agency partners. At the same time, they are dedicated to supporting exporters who wish to ship products to these regions. As per financial performance, Global Ocean Logistics India Limited has posted total income / net profits of Rs 191.42 / 3.82 Cr (FY23), Rs 103.45 / Rs 2.63 Cr (FY24), Rs 191.59 Cr / 6.81 Cr (FY25) and Rs 108.30 Cr / 4.54 Cr (upto Q2 FY26). So as per previous financials data, company has shown zig-zag results and sudden rise in net-profit just before IPO raises doubts. Company has an average EPS of Rs 5.05 and average RoNW of 40.57% for last three fiscals. Issue is priced at a P/BV of 3.75 as per NAV of Rs 20.8/- as on 30.09.25. If we attribute latest earnings of FY24, FY25 and annualised FY26 on equity post issue, then asking price is at a P/E of around 42.78, 16.53 and 12.40 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, Marwadi Chandarana Intermediaries Brokers Private Limited is associated with this SME IPOs, and has handled 6 IPOs in last three fiscal years. From last 6 IPOs, all opened above issue price or at par, on the day of listing. As of now, from last 6 IPOs, three is trading below issue price and remaining all are trading above issue price or at par. ( As on 15.12.25 ) As per financials, Global Ocean Logistics India Limited has shown zig-zag results, RoNW is 39.19% and P/E is 42.78, 16.53 and 12.40 respectively as per FY24, FY25 and annualised FY26 earnings. So issue looks fully priced and sudden rise in net-profit just before IPO raises doubts. Company is a freight forwarding company having multi modal logistics solutions, which is highly competitive business segment. Performance of BRLM is average post listings. So, we give AVOID rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.
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