Exim Routes IPO

Exim Routes is a worldwide platform that facilitates the trade of recyclable paper materials and offers end-to-end sourcing solutions to Indian Paper Mills. The company, through its foreign subsidiaries, purchases waste paper from international markets and sells it to India. This is supported by its AI-powered Exim Routes Intelligence System (ERIS), which is a centralised B2B digital platform for managing recyclable paper trade operations. Exim deals with three main recyclable paper categories: white grades (sorted office paper, hard white shavings, cupstock, tissue paper), brown grades (old corrugated containers, mix paper, cores, box board cutting), and mechanical grades (newspapers, magazines).

The revenue is generated through four segments - paper recyclables, which is the main revenue driver, contributing 96.77% in FY25, followed by logistics & container handling at 1.27%, management & consultancy services at 1.07% and ERIS subscription fees at 0.62%. The company has a vast global presence with activities in more than 15 countries, 100+ yards and mills, and supply relationships with 50+ Indian paper mills. It covers the Americas, Europe, the UK, South Africa, and South East Asia. In India, the company’s largest markets are Gujarat and Tamil Nadu, which account for 39.1% and 39.6% of FY25 revenues ​‍​‌‍​‍‌​‍​‌‍​‍‌respectively. Export formed 13.57% of total revenue, within which Singapore contributed 6.81%, Dubai 5.98% and Nepal 0.78%.