Ecos (India) Mobility & Hospitality Ltd - Stock Valuation and Financial Performance

ECOS (India) Mobility & Hospitality Limited was originally incorporated as ‘ET TRAV-AIDES Private Limited’ as a private limited company under the Companies Act, 1956 through certificate of incorporation dated February 15, 1996, issued by the RoC. Thereafter, the name of the Company was changed to ‘Ecos (India) Mobility & Hospitality Private Limited’ pursuantto a Board resolution dated August 08, 2008 and a special resolution passed in the general meeting of the Shareholders held on August 12, 2008 and consequently a fresh certificate of incorporation dated September 23, 2008 was issued by the RoC to reflect the change in name. Thereafter, the name of the company was changed to ‘Ecos (India) Mobility & Hospitality Limited’ upon conversion to a public limited company pursuant to a Board resolution dated February 29, 2024 and resolution passed in the extra-ordinary general meeting of the Shareholders held on February 29, 2024 and consequently a fresh certificate of incorporation dated March 22, 2024, was issued by the RoC.

The company is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and has been providing these services to corporate customers. The CCR segment is a B2B2C business, where its customers are corporate companies, and the end consumer is an employee, client, guest or visitor of these corporate companies. The company’s operations in many cities in India are conducted through vendors. The company addresses the global car rental requirements of its corporate customers, through its global network of vendors with its capability of providing CCR services in many countries. It also provides cars of self-drive basis in the cities of Delhi, Gurugram, Mumbai and Bengaluru. It has also provided self-drive cars outside India through vendors.

IT also provides specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. It has increased its focus on premium vehicles due to increasing customer preference for premium vehicles. The company operates its fleet of vehicles on an asset light model, where it strives to keep the number of the vehicles which it owns in its fleet significantly lower than the vehicles which are sourced from its vendors. The company’s customers benefit from its dual offerings of CCR and ETS, as these segments together provide a comprehensive solution for their corporate transportation requirements. 

Business area of the company

The company is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and has been providing these services to corporate customers. The CCR segment is a B2B2C business, where its customers are corporate companies, and the end consumer is an employee, client, guest or visitor of these corporate companies.

Services of the company

• Chauffeured car rentals 
• Employee transportation services

Awards, accreditations, certifications and recognitions

• 2012: Winner of the 8th hospitality India & explore the world annual international awards in association with Egypt, Turkey & Kuwait tourism.
• 2013: Winner of the 9th hospitality India & explore the world annual international award.
• 2013: Winner of the National Tourism Award conferred by the Government of India, Ministry of Tourism in the category of Tourist Transport Operator (Category I).
• 2013: Became a member of the Indian Tourist Transporters Association.
• 2014: Winner of Best Luxury Ground Transportation company with Pan India Presence at the Hospitality India & Explore the World Annual International Awards in association with China Tourism.
• 2014: Winner of the National Tourism Award conferred by the Government of India, Ministry of Tourism in the category of Tourist Transport Operator (Category I).
• 2015: Winner of the National Tourism Award conferred by the Government of India, Ministry of Tourism in the category of Tourist Transport Operator (Category I).
• 2016: Winner of the National Tourism Award conferred by the Government of India, Ministry of Tourism in the category of Tourist Transport Operator (Category I).
• 2017: Winner of Dun & Bradstreet Award-SME Business Excellence in the Transport, Tourism and Hospitality category. 
• 2018: Winner of the Best luxury ground handler award presented by Today’s Traveller Award.
• 2019: Prawaas Excellence Award for Best Employee Taxi Operation (North India).
• 2019: Special recognition accorded by Dun & Bradstreet at their 10th annual SME Business Excellence award.
• 2019: Winner of the socially responsible ground travel Company of the year presented by Pratigya, an initiative by Brands Impact.
• 2021: Winner of the Workplace Partner Conference & Awards in the category of Best Employee Transportation Company by presented by the Infrastructure, Facility, Human Resource & Realty Association.
• 2022: Winner of the ‘Leader of the Road Transport-Commercial Passenger Vehicle’ award at the TV9 network Leaders of the Road Transport Awards, 2022.
• 2023: Winner of the Service Provider of the Year award presented by Economic Time at their 2ndTravel & Tourism Annual Award.
• 2023: Certificate of appreciation presented in recognition of the outstanding support provided during Secretary of State Blinken’s visit for the G-20 Foreign ministers summit and raising dialogue in March, 2023.
• 2024: Luxury Car Tourist Transport Operator of the Year from Satte Awards.
• 2024: Valuable contribution as Mobility Partner awarded at the 13th Indian Exhibition Industry Association.
• 2024: Best Fleet Management Excellence Award at the 2nd edition of the Business world Facility Management Awards 2024.
• 2024: Winner of the Excellence in Travel Services award at the Exhibition Excellence Awards 2024.

History and milestones 

• 1996: Incorporated in Delhi on February 15, 1996. 
• 1996: Commenced operations with a focus on serving Corporates.
• 2001: Acquired the contract to provide transportation services to a prestigious NCR hotel
• 2006: Honoured to be included on the panel of transporter of MEA, Govt of India, to provide ground transport services to the VVIP delegations visiting India.
• 2008: Designed and developed exclusive software for business operations. 
• 2010: Opened Noida branch office. 
• 2011: Acquired first pan India client, a Fortune 500 company.
• 2012: Initiated the establishment of a vendor network across India to serve clients Open Branch Offices in Bangalore, Mumbai, Pune.
• 2013: Opened branch offices in Chennai and Hyderabad. 
• 2014: Opened Jaipur branch office.
• 2015: Crossed Rs 1,000.00 million of revenue marks for the first time. 
• 2016: Established GIS related services for trip monitoring using GPS Opened branch offices in Kolkata, Ahmedabad.
• 2017: Launched online booking tool and integrated APIs to digitize reservations Crossed Rs 2,000.00 million of revenue mark for the first time Open Branch in Lucknow.
• 2018: Opened branch office in Coimbatore.
• 2019: Expanded its network outside India Launched the ‘Eco Driver’ application.
• 2020: Crossed Rs 4,000.00 million of revenue marks for the first time. 
• 2021: Launched the ‘Eco Rent A Car’ application.
• 2023: Provided premium transport to G20 delegates in 25 cities across India.
• 2023: Crossed pre-covid maximum revenue in the Financial Year 2023.
• 2023: Opened sales liaison office in Chandigarh. 
• 2024: Launched end-to-end managed corporate car hire services with CabDrivePro.