Financial Performance (H1FY27 vs H1FY26)

  • Revenue from Operations: ₹131.0 crore (vs ₹96.0 crore in H1FY26), representing +36% YoY growth
  • EBITDA: ₹11.8 crore (vs ₹8.0 crore in H1FY26), representing +48% YoY growth
  • EBITDA Margins: 9.0% (vs 8.3% in H1FY26), improvement of +70 bps
  • Profit After Tax (PAT): ₹6.4 crore (vs ₹4.0 crore in H1FY26), representing +60% YoY growth
  • PAT Margins: 4.8% (vs 4.1% in H1FY26), improvement of +70 bps

Full Year FY26 Reference Figures: Revenue ₹223.3 crore, EBITDA ₹20.0 crore, PAT ₹10.5 crore, PAT Margins 4.7%

Capital Efficiency Metrics

  • Annualized Return on Capital Employed (RoCE): 20%
  • Annualized Return on Equity (RoE): 16%
  • Unutilized cash balance: ₹5.4 crore (following IPO fundraise in Q2)

Business & Operational Highlights

Growth Initiatives and Investments

  • Setting up a 17,000 sq. ft. clean-room warehouse and office facility in Noida to support umbrella supplier vertical for semiconductor supply chain
  • Setting up a 2,00,000 sq. ft. master warehouse at Ambala for a leading Indian power solution brand
  • These investments contributed to increased "short-term loans and advances" during the period

Umbrella Supplier Model Expansion

  • Onboarded a major US-based semiconductor equipment manufacturer under umbrella supplier services model
  • First international logistics engagement within the umbrella supplier model
  • Onboarded 3 vendors across 5 products with supplies extending to Taiwan, Malaysia, and South Korea
  • Additional products under consideration for approval with plans to scale supplies of approved products

Operational Performance Drivers

  • Revenue growth driven by traction in umbrella supplier business, deeper engagement with existing OEM customers, and increased adoption of integrated sourcing, warehousing, and logistics solutions
  • Operating margin expansion constrained by war-related fuel surcharge levied by airlines, partially managed through periodic customer price revisions
  • Increased contribution from value-added services supported higher realizations
  • Pass-through clauses in OEM contracts helped mitigate impact of fuel price fluctuations and line-haul costs

Management Commentary

Sanjay K. Rathi, Chairman & Managing Director, commented that H1FY27 is the company's first reporting period as a listed company, reflecting commitment to disciplined and sustainable growth. Focus remains on deepening role within clients' supply chains, moving up the value chain from multi-modal execution to umbrella supply chain orchestration and international logistics. Disciplined working capital management will remain central as the company scales.

Company Background

Established in 2012 and headquartered in Faridabad, Haryana. Integrated B2B logistics solutions provider serving OEMs and industrial customers with pan-India network spanning warehouses, hubs, domestic airports and railway stations. Service offerings include first-mile pickup, transportation across road, rail and air, warehousing, transshipment, returnable packaging and last-mile delivery.