Wise Travel India Limited, originally incorporated on April 22, 2009, was converted into a Public Limited Company on September 26, 2023. The company is a leading provider of online car rental and taxi booking services across India, catering to both corporate and non-corporate clients. WTIL operates with an extensive fleet of over 7,500 vehicles, manages 12 dedicated airport counters, and serves more than 550 clients, leveraging a robust technology platform for efficient operations.
The company's objective is to be present across the entire value chain of corporate people transportation, offering services including Car Rental Services, Employee Transportation Services, Car Leasing, Coach Rentals, Technology, and integrated Mobility Solutions. WTIL delivers services through strict Service Level Agreements (SLAs) and incorporates a Business Continuity Plan (BCP) to provide tailored, optimal mobility solutions.
Wise Travel India operates as a comprehensive mobility solutions provider with a primary focus on the B2B corporate transportation market. Its diversified service offerings and technology-driven approach have established a strong presence in the Indian transportation sector. The company's operations rely on a large fleet of on-road vehicles and advanced technology platforms to deliver car rental services, employee transportation services, car leasing, coach rentals, airport counter services, technology solutions, and broader mobility solutions.
The business model is designed to serve both corporate and individual customers through its integrated fleet management system. By 2023, WTIL had established nearly 17 airport counters, significantly enhancing its service network and accessibility for customers nationwide.
Wise Travel India has demonstrated remarkable growth since its inception:
- 2009-2011: Managed the entire Personal Ground Transportation Movement for the XIX Commonwealth Games, 2010 in New Delhi.
- 2012-2014: Expanded operations to 7 major metropolitan cities and acquired India Fleet, a Group Company of Trans Lease India Pvt. Ltd.
- 2018-2020: Focused on sustainability by integrating electric vehicles into its fleet, aligning with global green transportation initiatives.
- 2021-2022: Ventured into tier 2, 3, and 4 cities.
- 2022: Prepared for international expansion, recognizing the global potential of its services.
Wise Travel India made its public debut on the NSE SME platform on February 19, 2024, with an IPO price of ₹147 per share. The IPO was a bookbuilding issue totaling ₹94.68 crores, comprising a fresh issue of 64.41 lakh shares. The offering was highly successful, subscribed 107.31 times, reflecting strong investor confidence. The proceeds from the IPO are primarily allocated to meeting working capital requirements and funding expansion plans, with INR 73 crores earmarked for enhancing working capital and supporting business expansion.
Wise Travel India has shown impressive financial growth in recent years:
- Revenue Growth: Revenue surged from ₹4,226.80 million in FY2021 to ₹24,959.87 million in FY2023, marking a significant expansion in business operations.
- PAT Growth: Profit After Tax (PAT) saw a substantial increase of 172.5% between the financial years ending March 31, 2022, and March 31, 2023.
- Recent Performance (FY25 Earnings Call): Reported 37.5% revenue growth with a fleet of 1,350 cars, announced expansion plans to Dubai & London, and anticipates margin improvement.
- Trailing Twelve Months (TTM) Profit After Tax: ₹23 Crores.
As of the latest available data:
- Market Capitalization: ₹334 Crores.
- Price-to-Earnings (P/E) Ratio: 13.45.
- Price-to-Book (P/B) Ratio: 0.55.
These metrics suggest the stock is trading at reasonable valuations relative to its growth trajectory.
- 52-Week High: ₹342.95.
- 52-Week Low: ₹125.40.
The P/E ratio of 13.45 represents a 55% discount compared to its peers' median range of 31.69 times, indicating a potential value opportunity for investors.
Wise Travel India is strategically positioned to capitalize on the burgeoning Indian mobility services market. The online cab services market in India, valued at INR 30.72 Bn in FY2020, is projected to grow at a CAGR of approximately 12.93% from FY2021 to FY2025, reaching INR 55.15 Bn by FY2025.
The company has initiated its international expansion by opening an office in Dubai, signaling its intent to offer services globally. This international strategy, combined with its strong domestic presence and advanced technology platform, positions WTIL for sustained future growth in the global mobility services sector.
Wise Travel India's commitment to sustainability through electric vehicles and its comprehensive service offerings across the transportation value chain mark it as a noteworthy and forward-looking player in the evolving Indian and global transportation industry.
