Key Financial Highlights (Consolidated)

Revenue Performance:

  • Revenue from operations: ₹216.64 crore in H1 FY27, up 17.6% YoY from ₹184.16 crore in H1 FY26
  • Other income: ₹1.17 crore, up 474.2% YoY from ₹0.20 crore
  • Total income: ₹217.80 crore, up 18.1% YoY from ₹184.36 crore
  • H1 FY27 revenue represented 51.7% of FY26 revenue of ₹418.92 crore

Profitability Metrics:

  • EBITDA: ₹34.40 crore, up 27.6% YoY from ₹26.95 crore
  • EBITDA margin: 15.88%, improved by 124 basis points from 14.63% in H1 FY26
  • Profit before tax (PBT): ₹24.85 crore, up 19.5% YoY from ₹20.79 crore
  • Profit after tax (PAT): ₹18.47 crore, up 8.0% YoY from ₹17.11 crore
  • PAT margin: 8.53%, decreased by 76 basis points from 9.29% in H1 FY26
  • Basic EPS: ₹11.60, up 7.9% YoY from ₹10.75

Cost Structure:

  • Depreciation: ₹5.56 crore (H1 FY26: ₹3.31 crore)
  • Finance costs: ₹4.00 crore (H1 FY26: ₹2.85 crore)

Half-Yearly Performance Comparison:

| Particulars (₹ crore) | H1 FY27 | H1 FY26 | YoY Change | H2 FY26 | HoH Change | FY26 |

| Revenue from Operations | 216.64 | 184.16 | +17.6% | 234.76 | -7.7% | 418.92 |

| EBITDA | 34.40 | 26.95 | +27.6% | 30.83 | +11.6% | 57.78 |

| EBITDA Margin (%) | 15.88% | 14.63% | +124 bps | 13.13% | +275 bps | 13.79% |

| Profit After Tax | 18.47 | 17.11 | +8.0% | 16.46 | +12.2% | 33.57 |

| PAT Margin (%) | 8.53% | 9.29% | (76 bps) | 7.01% | +151 bps | 8.01% |

Segment Performance

Revenue Breakdown:

  • Gross consolidated segment revenue: ₹230.61 crore (before inter-segment eliminations of ₹13.98 crore), up 25.2% YoY
  • Transportation and cargo/rake/vessel handling: ₹146.17 crore (63.4% of gross segment revenue)
  • Earth-moving equipment hiring: ₹45.30 crore, up 42.2% YoY
  • Construction revenue: ₹15.73 crore, increased nearly 8.7 times YoY
  • Bulk trading: ₹23.29 crore

Segment Profitability:

  • Total segment profit before unallocable interest and tax: ₹28.84 crore, up 22.0% YoY
  • Transportation: ₹10.39 crore
  • Cargo and rake handling: ₹7.43 crore
  • Earth-moving equipment hiring: ₹6.70 crore
  • Trading: ₹2.66 crore
  • Construction: ₹1.61 crore

Balance Sheet Position (as of 30 September 2026)

| Particulars (₹ crore) | 30 Sep 2026 | 31 Mar 2026 |

| Net worth (incl. share warrants) | 182.89 | 164.42 |

| Total borrowings | 123.17 | 69.75 |

| Debt to equity (x) | 0.67x | 0.42x |

| Property, plant & equipment (incl. CWIP) | 78.22 | 40.31 |

| Trade receivables | 107.29 | 92.62 |

| Inventories | 18.01 | 14.85 |

| Trade payables | 6.23 | 15.60 |

| Cash and bank balances | 23.40 | 30.71 |

Cash Flow and Capital Expenditure

  • Capital expenditure during H1 FY27: ₹43.21 crore for fleet expansion and contract execution
  • Operating cash flow: ₹(12.55) crore, reflecting higher working capital deployment
  • Working capital changes: ₹14.67 crore increase in trade receivables, ₹9.36 crore reduction in trade payables
  • IPO proceeds utilization: ₹44.86 crore raised, ₹44.80 crore utilized towards working capital as of 30 September 2026 (zero deviation reported)

Operational Highlights

  • Green Logistics: Commenced first electric freight deployment for UltraTech Cement and secured new contract with JSW Group
  • Order Pipeline: ₹1,050 crore long-term order pipeline with 150 EV orders secured
  • Client Relationships: Includes IFFCO, JM Baxi Group, JSW Group, UltraTech Cement, Godawari Power & Ispat, Ripley, L&T, and KBR Logistics
  • Fleet Expansion: Transportation fleet expected to expand approximately threefold over March 2026 levels
  • Industry Recognition: Received LEAP 2026 Award from DPIIT, Ministry of Commerce & Industry, Government of India
  • Business Expansion: Expanded geographic footprint, customer relationships, and business verticals while sustaining margin improvement

Outlook and Growth Drivers

  • India's maritime and industrial logistics sector supported by port capacity additions and domestic manufacturing growth
  • Paradip Port handled record 156.45 MMT cargo in FY26, undergoing 25 MTPA Western Dock expansion (Phase I of 12.5 MTPA under commissioning)
  • Company focused on deepening presence at Paradip Port and IFFCO's Paradip facility
  • Scaling Green Logistics under Government of India's PM E-DRIVE framework
  • Expanding transportation fleet by approximately three times
  • Initiatives expected to support growth and operating leverage through H2 FY27 and beyond

Management Commentary

Mr. Khalid Khan, Managing Director & Chief Executive Officer, highlighted resilient performance with 17.6% revenue growth and 27.6% EBITDA growth. He noted EBITDA margin expansion of 124 basis points to 15.88%, reflecting disciplined execution and strong growth across earth-moving equipment hiring and infrastructure construction verticals despite external macro and crude oil volatility. Management emphasized the milestone of commencing Green Logistics EV deployment and securing 150 electric vehicle orders with ₹1,050 crore order pipeline across blue-chip industrial customers, providing clear multi-year visibility.

Company Background

Paradeep Parivahan Limited (BSE SME: 544383), headquartered in Paradeep, Odisha, is an integrated port logistics, cargo handling and infrastructure services company listed on the BSE SME Platform in March 2025. Business spans cargo handling and shore-based assets, equipment and infrastructure, bulk trading, and marine and defence infrastructure, serving customers across cement, steel, fertilisers, power and maritime sectors.