Document Dates
September 09, 2026 (Annual Report) and June 23, 2026 (Financial Statements)
Comprehensive Summary
Financial Performance Highlights
AVG Logistics reported FY26 total income of ₹582.48 crore (₹55,740.91 lakhs), representing 5.1% growth year-over-year. The company achieved EBITDA of ₹112.45 crore with 14.27% growth and margin expansion to 19.3% from 17.8%. Profit Before Tax reached ₹34.46 crore (18.13% growth), while Profit After Tax stood at ₹26.17 crore (₹2,617.21 lakhs), showing 22.8% growth. Basic and diluted EPS was ₹17.38, up 15.79% from the previous year.
Operational and Strategic Developments
The company maintained a fleet strength of 3,000+ vehicles (850+ owned trucks and reefers) with 100+ additional vehicles in pipeline. Warehousing capacity expanded to ~7.4 lakh sq. ft. across 8 facilities nationwide. Strategically, AVG launched a liquid cargo vertical with 96 ISO tanks for bulk chemical transportation via rail, introduced LNG-powered trucks through partnership with Blue Energy Motors, and deployed 5 high-tonnage 55-tonne electric vehicles for Tata Steel routes. The company secured long-term contracts with Haldiram Nagpur (100+ vehicles) and PepsiCo India 3PL engagement.
Balance Sheet and Capital Structure
Total assets stood at ₹54,837.36 lakhs with total equity of ₹27,116.37 lakhs. Borrowings increased significantly to ₹18,082.35 lakhs from ₹10,731.66 lakhs in FY25, resulting in a debt-to-equity ratio of 0.67x. The current ratio improved to 1.97x from 1.77x. Subsequent to year-end, the Board approved and fully subscribed a rights issue aggregating ₹5,293.02 lakhs, with 36,50,356 equity shares allotted in June 2026.
Corporate Actions and Governance
The Board recommended a final dividend of ₹1.20 per equity share (12% on face value) for FY26, subject to shareholder approval. The company implemented ESOS 2026 for grant of up to 9,50,000 options. Key management changes included Mr. Himanshu Sharma's resignation as CFO and appointment of Mr. Rajesh Rohilla as replacement. The board composition includes 6 directors with 3 independent directors and 1 woman director.
Regulatory Compliance and Audit Matters
The company paid a ₹20,000 + GST SEBI penalty for non-filing of prior intimation for dividend declaration in FY25. Auditors identified revenue recognition and allowance for credit-impaired trade receivables (₹1,840.09 lakhs against ₹25,320.93 lakhs receivables) as key audit matters. Qualified CARO reports were issued for both the holding company and subsidiary Galaxy Packers, with accounting software audit trail feature not enabled throughout the year.
Subsidiaries and Related Parties
Key subsidiaries include Galaxy Packers and Movers Private Limited (wholly-owned) and Kaizen Logistics (associate company with 99% holding). AVG Sunil Liquid Logistics ceased to be subsidiary on May 30, 2025. Related party transactions included transportation expenses of ₹263.42 lakhs and directors' remuneration of ₹138.00 lakhs.
Forward-looking Statements and ESG Initiatives
The report contains forward-looking statements regarding expected financial position and business plans. ESG initiatives included ISO 14001 (Environmental Management) and ISO 45001 (Occupational Health & Safety) certifications, with CSR spending of ₹44.59 lakhs against requirement of ₹43.34 lakhs focused on education, healthcare, and skill development programs.