Company Overview
Financial Performance Highlights
Revenue from Operations: ₹43,172.65 lakhs (FY25: ₹50,014.56 lakhs) - decrease of 13.68%
EBITDA: ₹3,836 lakhs with EBITDA margin of 8.89%
Profit After Tax (PAT): ₹31.01 lakhs (FY25: ₹369.55 lakhs) - decrease of 91.61%
Earnings Per Share (Basic & Diluted): ₹0.17 (FY25: ₹2.03)
Total Comprehensive Income: ₹45.46 lakhs (FY25: ₹351.95 lakhs)
Key Financial Metrics
Current Ratio: 1.08 (consistent with FY25)
Debt-Equity Ratio: 0.51 (FY25: 0.79) - improvement of 36.42%
Return on Equity: 0.66% (FY25: 8.19%)
Trade Receivables Turnover: 6.14x (FY25: 6.73x)
Net Profit Ratio: 0.07% (FY25: 0.74%)
Operational Highlights
Branch Network: 18 branches across India including Mumbai, Pune, Bengaluru, Chennai, Delhi, Hyderabad, and others
Warehousing Capacity: ~13.8 lakh sq. ft. across 30+ facilities in key logistics corridors
Customer Base: Over 5,000 active customers across industries
Services Offered: Ocean freight, air freight, exhibition & event logistics, cross trades, customs broking, warehousing
Notable Project: Successful execution of complex project cargo movement to Nigeria (850 metric tonnes across 115 packages)
Capital Structure
Authorized Share Capital: ₹25,00,00,000 divided into 2,50,00,000 equity shares of ₹10 each
Issued, Subscribed and Paid-up Capital: ₹18,16,83,600 divided into 1,81,68,360 equity shares of ₹10 each
Promoter Holding: 69.19% as of March 31, 2026 (69.17% as of March 31, 2025)
Dividend: No dividend recommended for FY26 (FY25: 1% dividend i.e., ₹0.10 per share)
Borrowings and Debt
Secured Loans from ICICI Bank Ltd:
- Working Capital Demand Loan: ₹2,000 lakhs (secured against hypothecation of books debts and personal property of directors)
- Term Loan: ₹166.67 lakhs (secured against same)
- Vehicle Loans: ₹18.38 lakhs (secured against hypothecation of respective vehicles)
Total Borrowings: ₹2,382.47 lakhs (FY25: ₹3,725.42 lakhs) - reduction of 36.04%
Lease Liabilities: ₹6,208.05 lakhs (FY25: ₹7,646.46 lakhs)
Working Capital Management
Trade Receivables: ₹5,895.82 lakhs (FY25: ₹7,656.90 lakhs) - reduction of 23.00%
Cash and Cash Equivalents: ₹1,308.18 lakhs (FY25: ₹1,012.95 lakhs) - increase of 29.15%
Inventory: The company does not hold any inventory
Working Capital Efficiency: Focused collection initiatives reduced overall receivables and significantly lowered overdue balances
Tax Matters
Current Tax Expense: ₹25.00 lakhs for current year, ₹38.87 lakhs for earlier years
Deferred Tax: Credit of ₹25.65 lakhs
Total Tax Expense: ₹38.22 lakhs (FY25: ₹105.09 lakhs)
Income Tax Disputes:
- ₹22.03 lakhs for AY 2017-18 pending with CIT (Appeals)
- ₹5.23 lakhs for AY 2022-23 pending with ITAT
- ₹1,061.81 lakhs for AY 2020-21 pending with CIT (Appeals)
Contingent Liabilities
Total Contingent Liabilities: ₹1,996.17 lakhs comprising:
- Disputed claims: ₹826.99 lakhs
- Guarantees given: ₹40.00 lakhs
- GST Demand: ₹40.10 lakhs
- Income Tax Demand: ₹1,089.08 lakhs
Corporate Governance
Board Composition: 8 Directors with optimum combination of Executive and Non-Executive Directors including 4 Independent Directors
Key Managerial Personnel: Mr. Lancy Barboza (MD & CEO), Mr. Abhinandan Gupta (CFO), Mr. Abhay Shah (Company Secretary)
Committee Structure: Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, CSR Committee
Board Meetings: 6 meetings held during FY26
ESOP Scheme
Flomic ESOP Scheme 2025: Applied to stock exchange for approval covering 12,71,785 shares
In-principle Approval: Received from stock exchange on 17th November 2025
Options Granted: 402,850 stock options approved for eligible employees by NRC on 30th March 2026
Related Party Transactions
Transactions with related parties including International Freight Systems Company Private Limited, Flomic Cargo Private Limited, and Lancy Barboza Family Trust
All transactions entered into were in ordinary course of business and at arm's length
AGM Details
45th Annual General Meeting: To be held on Friday, 11th September, 2026 at 04:00 PM through VC/OAVM
Business Items: Adoption of financial statements, reappointment of director, approval of guarantee fees to promoters