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.
Our mining operations are 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 our business, results of operations and financial condition.
We derive a significant portion (90.11% in Fiscal 2026) of our revenue from operations from our top three
customers, with our single largest customer, Northern Coalfields Limited, contributing 44.16% of our
revenue from operations in Fiscal 2026. Loss of any of our top customers could adversely affect our
business, results of operations and financial condition.
The success of our logistics business depends on our ability to generate sufficient freight volumes of coal
and iron ore and optimise revenue to achieve desired profit margins and avoid losses. Any failure on our
part to achieve desired operating or net profit margins could have an adverse impact on our business,
results of operations and financial condition.
Increase in the cost of power and fuel and stores and spares used in our operations, or the inability to
obtain the necessary power and fuel or a sufficient quantity of stores and spares, could increase our
operating expenses, disrupt or delay our production and materially and adversely affect profitability.
We are dependent on the award of large-scale mining contracts (over Rs.100,000 lakhs) which represented
76.12% of our revenue from operations in Fiscal 2026 and may represent a significant part of our Order
Book in the future, increasing the potential volatility of our 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 our failure to win future awards could adversely impact our business, results of operations
and financial condition.
We will not receive any proceeds from the Offer for Sale. The Selling Shareholders will receive the net
proceeds from the Offer for Sale.
We have in the past entered into related party transactions and may continue to do so in the future.
Our mining operations require various approvals, licenses and permits which our mining customers must
obtain or secure and any failure to obtain these approvals, licenses or permits in a timely manner may
adversely impact on our business, results of operations and financial condition. We are responsible for
obtaining labour licenses and for approvals for the storage of diesel from the Indian Petroleum Explosive
Safety Organisation (PESO). If we and our customers do not comply with all necessary licenses, permits
and approvals required for our mining activities in a timely manner or at all our business results of
operations and financial condition could be materially and adversely affected.
Extensive governmental regulation relating to employee safety and health impose significant costs to our
mining operations. A violation of health and safety requirements and the occurrence of accidents could
disrupt our operations and increase operating costs as we do not maintain insurance coverage against
various potential risks associated with our operations, including any accidents or other hazards.
Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on
our financial condition.
