Board Meeting Details

The Board of Directors meeting was held on Tuesday, November 03, 2026, commencing at 04:00 PM and concluding at 04:50 PM at Block-B Office No. 1805, Navratna Corporate Park, Ambli, Ahmedabad, Daskroi, Gujarat, India, 380058.

Financial Results Approval

The Board considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the half year ended on 30th September, 2026 along with Limited Review Report by Statutory Auditors.

Standalone Financial Results (₹ in Lakhs)

Half Year Ended September 30, 2026

  • Revenue from Operations: ₹12,007.13
  • Other Income: ₹72.20
  • Total Revenue: ₹12,079.33
  • Total Expenses: ₹11,721.42
  • Profit before Tax: ₹357.90
  • Tax Expense: ₹134.09 (Current: ₹0.00, Deferred: ₹134.09, Short/Excess: ₹0.00)
  • Profit after Tax: ₹223.81
  • Earnings per share (Basic/Diluted): ₹1.63
  • Weighted Average Number of Equity Shares: 1,37,00,000

Comparative Figures (Half Year Ended September 30, 2025)

  • Revenue from Operations: ₹10,825.63
  • Other Income: ₹83.80
  • Total Revenue: ₹10,909.43
  • Total Expenses: ₹10,626.37
  • Profit before Tax: ₹295.56
  • Tax Expense: ₹120.19 (Current: ₹-46.29, Deferred: ₹120.87, Short/Excess: ₹45.61)
  • Profit after Tax: ₹175.38
  • Earnings per share (Basic/Diluted): ₹1.28
  • Weighted Average Number of Equity Shares: 1,37,00,000

Consolidated Financial Results (₹ in Lakhs)

Half Year Ended September 30, 2026

  • Revenue from Operations: ₹12,007.13
  • Other Income: ₹72.20
  • Total Revenue: ₹12,079.33
  • Total Expenses: ₹11,721.42
  • Profit before Tax: ₹357.90
  • Tax Expense: ₹134.09 (Current: ₹0.00, Deferred: ₹134.09, Short/Excess: ₹0.00)
  • Profit after Tax: ₹223.81
  • Earnings per share (Basic/Diluted): ₹1.63
  • Weighted Average Number of Equity Shares: 1,37,00,000

Comparative Figures (Half Year Ended September 30, 2025)

  • Revenue from Operations: ₹10,825.63
  • Other Income: ₹83.80
  • Total Revenue: ₹10,909.43
  • Total Expenses: ₹10,626.37
  • Profit before Tax: ₹295.56
  • Tax Expense: ₹120.19 (Current: ₹-46.29, Deferred: ₹120.87, Short/Excess: ₹45.61)
  • Profit after Tax: ₹175.38
  • Earnings per share (Basic/Diluted): ₹1.28
  • Weighted Average Number of Equity Shares: 1,37,00,000

Segment Reporting

The company has identified geographical segments as primary reporting segments based on customer location:

  • Domestic Operations (India)
  • Export Operations (Outside India)

Standalone Segment Results H1 FY27 (₹ in Lakhs)

  • Domestic Revenue: ₹9,627.38
  • Export Revenue: ₹2,259.75
  • Total Segment Revenue: ₹11,887.13
  • Domestic Segment Result: ₹-14.43 (Loss)
  • Export Segment Result: ₹1,571.10 (Profit)
  • Total Segment Result: ₹1,556.66

Balance Sheet Highlights (Standalone as of September 30, 2026)

Equity and Liabilities (₹ in Lakhs)

  • Share Capital: ₹1,370.00
  • Reserves and Surplus: ₹5,627.50
  • Total Shareholders' Funds: ₹6,997.50
  • Long-term Borrowings: ₹3,354.01
  • Short-term Borrowings: ₹1,661.17
  • Total Liabilities: ₹17,628.98

Assets (₹ in Lakhs)

  • Property, Plant and Equipment: ₹5,934.89
  • Intangible Assets: ₹1,143.64
  • Trade Receivables: ₹7,775.16
  • Total Assets: ₹17,628.98

Cash Flow Statement (Standalone H1 FY27)

  • Cash Flow from Operating Activities: Not quantified in disclosure
  • Cash Flow from Investing Activities: ₹-1,073.17 (Purchase of Fixed Assets: ₹-1,266.68, Sale of Fixed Assets: ₹202.60, Purchase of Investment: ₹-10.00)
  • Cash Flow from Financing Activities: ₹-508.32 (Proceeds from long-term borrowings: ₹1,362.29, Repayments of long-term borrowings: ₹-533.20, Proceeds of short-term borrowings: ₹309.55, Repayments of short-term borrowings: ₹-1,413.96, Interest & Finance Cost: ₹-233.00)

Geopolitical Impact Disclosure

Geopolitical tensions and war-like situations in the Middle East region from the end of February 2026 adversely impacted export-import trade, shipping movements, and global logistics operations. The company's multimodal transportation and export logistics business experienced significant slowdown during the latter part of the financial year, resulting in:

  • Cancellation and deferment of customer bookings
  • Reduced cargo movement and transportation demand
  • Operational uncertainties
  • Pressure on margins due to fixed and committed operating costs

IPO Utilization

The company completed its Initial Public Offering (IPO) of 37,00,000 new equity shares of face value of ₹10 each at premium of ₹116 per equity share aggregating to ₹4,662.00 lakh. Funds were utilized as follows:

  • Capital expenditure towards acquiring machinery: ₹3,394.15 lakh
  • Funding towards Repayment of Loan: ₹200.00 lakh
  • General Corporate Purpose: ₹602.96 lakh
  • Issue Related Expenses: ₹464.89 lakh
  • Total Utilization: ₹4,662.00 lakh

No deviation or variation in use of funds raised was reported. The Audit Committee reviewed and had no comments.

Subsidiary Information

The consolidated results include one subsidiary company, Neptune Cargo Services Private Limited, Ahmedabad. The subsidiary's financial results are not material to the Group, with the parent's share of total assets of ₹10.00 lakhs as at September 30, 2026, and nil revenue for the half year ended September 30, 2026.