Company Overview
Financial Performance Highlights
Om Freight Forwarders reported weak FY26 results with standalone revenue declining 2.7% YoY to ₹476.92 crore and PAT falling 29% to ₹15.38 crore. Consolidated performance showed net profit down 27.1% to ₹16.05 crore on revenue of ₹476.92 crore. Key pressure points included geopolitical tensions affecting Q4 margins, employee benefits expense decreasing 23.1% to ₹50.02 crore, and other expenses rising 24.6% to ₹26.57 crore.
Balance Sheet & Financial Position
Total assets increased 23.2% to ₹384.33 crore, with concerning trends in trade receivables surging 31% to ₹143.83 crore and borrowings rising 53.1% to ₹48.82 crore. Current borrowings saw substantial increases, particularly loans from related parties which jumped 502.6% to ₹29.77 crore. Cash position improved significantly to ₹35.82 crore (up 100.4%) following IPO proceeds.
IPO Completion & Capital Structure
The company successfully completed its IPO in October 2025, issuing 90,60,042 equity shares at ₹135 per share. The offering comprised fresh issue of 18,10,042 shares raising ₹24.44 crore and OFS of 72,50,000 shares for ₹97.88 crore. Of the ₹21.67 crore net fresh issue proceeds, ₹19.39 crore has been utilized with ₹14.87 crore for capex and ₹4.52 crore for general corporate purposes. The company seeks extension until March 2027 for balance utilization.
Operational & Segment Performance
The company operates in logistics services with segment revenue breakdown: Freight Booking Services (50.79%), CHA & Clearance Services (23.95%), Transport Services (11.45%), Vessel Agency & Stevedoring (8.37%), and Other Services (5.44%). CHA services grew 35.3% while Vessel Agency services declined 43.3%. The company expanded its warehousing footprint to 4.48 lakh sq. ft. and handles 5 million tonnes of bulk cargo annually.
Associate Companies & Investments
The company holds 35.21% in Oscar Freight Private Limited (PAT: ₹1.10 crore) and 26% in Arha Warehousing and Translift Private Limited (PAT: ₹1.06 crore). Investment in Parbulkers II AS (Norway) is classified as held for sale with carrying value of ₹1.70 crore after impairment.
Governance & Corporate Actions
The Board recommended re-appointment of executive directors Mr. Sanjiv Prabhashankar Joshi and Mr. Kamesh Rahul Joshi. Ms. Manisha Saluja was appointed as Company Secretary following Mr. Hiren K Bhanushali's resignation. No dividend was declared for FY26 to conserve profits. Secretarial auditor M/s. Nitin R Joshi was proposed for 5-year appointment.
Regulatory & Compliance Matters
The company filed its Annual Report under SEBI Regulation 34(1) with unqualified audits from both statutory and secretarial auditors. Contingent liabilities of ₹3.76 crore relate to service tax (₹1.02 crore) and GST matters (₹2.74 crore) pending with various authorities.
Risk Factors & Outlook
Key risks include geopolitical tensions affecting margins, freight rate volatility, dependence on third-party providers, and regulatory compliance risks. Management indicates strategic focus on quality projects over volume growth, expecting gradual margin recovery with easing geopolitical tensions.