Board Meeting Details

The meeting was held on Saturday, November 14, 2026, commencing at 12:50 PM (IST) and concluding at 01:50 PM (IST).

Financial Results Summary (Half Year Ended September 30, 2026)

Income Statement Highlights (Amount in ₹ Lakhs):

  • Revenue from operations: ₹13,104.65 (compared to ₹9,597.95 in H1 FY26 - 36.5% increase)
  • Other Income: ₹14.65 (compared to ₹26.38 in H1 FY26)
  • Total Income: ₹13,119.29 (compared to ₹9,624.33 in H1 FY26 - 36.3% increase)
  • Operating Expenses: ₹10,137.94 (compared to ₹7,324.04 in H1 FY26)
  • Employee benefits expenses: ₹931.12 (compared to ₹932.79 in H1 FY26)
  • Depreciation and amortisation expenses: ₹123.55 (compared to ₹119.17 in H1 FY26)
  • Finance costs: ₹232.10 (compared to ₹179.41 in H1 FY26)
  • Other expenses: ₹851.61 (compared to ₹541.85 in H1 FY26)
  • Profit before tax: ₹842.98 (compared to ₹527.07 in H1 FY26 - 59.9% increase)
  • Tax Expense: ₹207.72 (Current tax: ₹217.17, Deferred tax credit: ₹(9.45))
  • Net Profit for the period: ₹635.26 (compared to ₹395.56 in H1 FY26 - 60.6% increase)
  • Earnings per share (Basic and Diluted): ₹6.03 (compared to ₹4.39 in H1 FY26)

Balance Sheet Position as at September 30, 2026 (Amount in ₹ Lakhs):

  • Share capital: ₹1,225.88 (increased from ₹901.88 as at March 31, 2026)
  • Reserves and surplus: ₹6,542.68 (increased from ₹3,859.27 as at March 31, 2026)
  • Long-term borrowings: ₹1,150.37 (increased from ₹800.60 as at March 31, 2026)
  • Short-term borrowings: ₹1,642.28 (decreased from ₹3,050.06 as at March 31, 2026)
  • Trade payables: Micro enterprises - ₹1,075.92; Other creditors - ₹1,998.13
  • Total assets: ₹14,480.72 (increased from ₹12,757.66 as at March 31, 2026)
  • Property, Plant and Equipment: ₹804.27
  • Intangible assets: ₹99.08
  • Capital Work In Progress: ₹33.34
  • Trade receivables: ₹10,913.42 (increased from ₹10,586.83 as at March 31, 2026)
  • Cash and cash equivalents: ₹543.78 (increased from ₹161.72 as at March 31, 2026)
  • Short-term loans and advances: ₹1,918.17 (increased from ₹803.74 as at March 31, 2026)

Cash Flow Statement (Half Year Ended September 30, 2026, Amount in ₹ Lakhs):

  • Net cash used in operating activities: ₹(625.65)
  • Net cash used in investing activities: ₹(74.33)
  • Net cash from financing activities: ₹1,082.04
  • Net increase in cash and cash equivalents: ₹382.06

IPO Completion and Utilization

The company completed an initial public offering (IPO) on July 07, 2026, issuing 32,40,000 equity shares of face value ₹10 at an issue price of ₹84 per share, aggregating to ₹2,721.60 lakhs. The entire gross proceeds were utilized as follows:

  • Issue related expenses: ₹349.44 (fully utilized)
  • Working Capital: ₹1,972.61 (fully utilized)
  • General Corporate Purposes: ₹400.00 (fully utilized)

Regulatory Compliance and Accounting Policies

The financial results:

  • Were reviewed by the Audit Committee and approved by the Board of Directors
  • Have been subjected to Limited Review by statutory auditors SPG Associates
  • Received an unmodified opinion from the auditors
  • Are prepared in accordance with Accounting Standard 25 "Interim Financial Reporting"
  • The company is exempted from IND-AS compliance as it is listed on the SME Platform of BSE Limited
  • Segment reporting is not applicable as all activities revolve around logistics services