Caliber Mining and Logistics Ltd
We are mining operator managing overburden removal, coal extraction and coal logistics together as an integrated services provider. We have a fleet of 1,911 vehicles, plant and machinery (including 100 that are leased vehicles, plant and machinery) as of April 30, 2026 comprising of 883 tippers, 64 loaders, 162 excavators and 362 tip trailers. Our revenue from operations grew at a CAGR of 32.67% from Rs.95,311.60 lakhs in Fiscal 2024 to Rs.1,67,766.09 lakhs in Fiscal 2026. We offer our customers end-to-end services including coal extraction, overburden removal, coal loading and unloading, road transportation and coordination of rail transportation, making us a one-stop coal mining and logistics provider. Our mining and overburden removal operations are located in Maharashtra, Madhya Pradesh and Chhattisgarh; however, we do not own any of the mines. Our largest customers are mine owing subsidiaries of Coal India Limited ("Coal India" or "CIL"), namely Western Coalfields Limited ("WCL") and Northern Coalfields Limited ("NCL"). In logistics, we focus on coal loading, unloading and road transportation using our fleet of 1,811 owned (and 100 leased) vehicles, plant and machinery as of April 30, 2026. As of April 30, 2026, our workforce comprised 5,521 employees including four employees on retainer. Our order book increased from Rs.5,66,829.69 lakhs as at March 31, 2026 to Rs.9,55,089.08 lakhs as of May 15, 2026.
Timeline
Subscription
Reports
Offer Details
Terms
Application Sizes
Managers & Registrar
Ownership & Proceeds
Offer for Sale
Shareholding
Objects of the Issue
- Repayment/prepayment in full or part of certain borrowings availed by the company
- Funding capital expenditure for purchase of commercial vehicles, plant and machinery
- General corporate purposes
Anchor Book
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 485 | 865 | 953 | 1,430 | 1,678 |
| Operating ProfitCr | 86 | 184 | 243 | 350 | 431 |
| OPM% | 17.7 | 21.2 | 25.5 | 24.4 | 25.7 |
| PBTCr | 51 | 111 | 125 | 177 | 213 |
| PATCr | 37 | 80 | 96 | 132 | 158 |
| EPS | 123 | 16 | 19 | - | 29 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 3 | 51 | 51 | - | 54 |
| ReservesCr | 96 | 118 | 245 | - | 594 |
| BorrowingsCr | 251 | 406 | 840 | - | 1,120 |
| Total AssetsCr | 427 | 712 | 1,279 | - | 2,077 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 53 | 90 | 48 | - | 411 |
| Investing Cash FlowCr | -212 | -259 | -327 | - | -692 |
| Financing Cash FlowCr | 169 | 162 | 276 | - | 285 |
| Net Cash FlowCr | 10 | -6 | -3 | - | 5 |
Strengths & Risks
- End-to-end coal mining and logistics solution provider.
- Execution experience and operational efficiencies yielding opportunities for new L-1 orders.
- Growing share of business in mining industry and from Coal India subsidiaries backed by order book of Rs. 9,55,089.08 lakhs as at May 15, 2026.
- Proven track record of growth with financial performance.
- Industry experience and legacy led promoters supported by a management team and professionals.
- Continued focus on cost optimization and cost control measures.
- Continued working toward operation excellence and premium quality customer service.
- Expand our logistics business into iron ore.
- Expand our mining business into new geographies.
- The company's mining operations is subject to operating risks. Accidents and other operating risks including flooding, disruptions due to truck machinery and equipment failures and unavailability of diesel fuel and water which could result in decreased production or increased cost of production, which could adversely affect its business, results of operations and financial condition.
- The company derives a significant portion (90.11% in Fiscal 2026) of its revenue from operations from the company's top three customers, with its single largest customer, Northern Coalfields Limited, contributing 44.16% of the company's revenue from operations in Fiscal 2026. Loss of any of its top customers could adversely affect the company's business, results of operations and financial condition.
- The success of the company's logistics business depends on its ability to generate sufficient freight volumes of coal and iron ore and optimise revenue to achieve desired profit margins and avoid losses. Any failures on its part to achieve desired operating or net profit margins could have an adverse impact on the company's business, results of operations and financial condition.
- Increase in the cost of power and fuel and stores and spares used in the company's operations, or the inability to obtain the necessary power and fuel or a sufficient quantity of stores and spares, could increase its operating expenses, disrupt or delay the company's production and materially and adversely affect profitability.
- The company is dependent on the award of large-scale mining contracts (over Rs.100,000 lakhs) which represented 76.12% of its revenue from operations in Fiscal 2026 and may represent a significant part of the company's Order Book in the future, increasing the potential volatility of its results of operations and cash flows and exposure to individual contract risks. Further, the award of future mining services contracts is subject to uncertainty and the company's failure to win future awards could adversely impact its business, results of operations and financial condition.
- The company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will receive the net proceeds from the Offer for Sale.