Financial Performance Highlights (FY 2025-26 vs FY 2024-25)

  • Revenue from Operations: ₹57,282.10 lakhs (prev. ₹53,630.50 lakhs) - 6.8% increase
  • Other Income: ₹835.57 lakhs (prev. ₹886.80 lakhs)
  • Total Expenditure: ₹55,204.33 lakhs (prev. ₹50,908.16 lakhs)
  • Finance Costs: ₹458.89 lakhs (prev. ₹284.45 lakhs) - 61.3% increase
  • Depreciation: ₹96.43 lakhs (prev. ₹84.71 lakhs)
  • Profit Before Tax: ₹2,913.34 lakhs (prev. ₹3,609.14 lakhs) - 19.3% decrease
  • Net Profit/Total Comprehensive Income: ₹2,167.87 lakhs (prev. ₹2,702.47 lakhs) - 19.8% decrease
  • EPS: ₹2.05 (prev. ₹2.56)
  • No dividend recommended for FY 2025-26

Capital Structure

  • Authorized Capital: ₹11,00,00,000 divided into 11,00,00,000 equity shares of ₹1 each
  • Paid-up Capital: ₹10,57,25,000 divided into 10,57,25,000 equity shares of ₹1 each
  • No changes in share capital during the year

Key Developments

1. NSE Listing

  • Company received approval for listing on National Stock Exchange of India Limited (NSE)
  • Equity shares listed and traded on NSE with effect from September 18, 2025
  • This marks a significant milestone in the company's growth journey

2. Credit Rating

  • Infomerics Valuation and Rating Limited upgraded the company's credit ratings
  • Long-term rating upgraded from IVR BBB+/Stable to IVR A-/Stable
  • Short-term rating upgraded from IVR A2 to IVR A2+
  • Total rated bank facilities: ₹45.00 crore
  • Rating rationale recognized diversified revenue streams, established client relationships, experienced management, asset-light business model, and healthy liquidity position

3. Future Growth Engines

The report highlights several strategic growth areas:

  • Renewable Energy Logistics (TiGreen): Fastest-growing segment, contributing significantly to container volumes
  • Government Contracts: Significant growth driver with leading PSUs including HPCL, BHEL, BEML and BNPMIPL
  • Import Logistics: Poised to become one of the fastest-growing business segments
  • Air Cargo: Becoming a defining pillar of India's trade landscape
  • Digital Logistics: Strategic pillar of growth journey with comprehensive digital transformation
  • Automotive Logistics: Well-positioned to capture growth in India's expanding automotive sector

Annual General Meeting Details

  • Date: Thursday, September 24, 2026
  • Time: 01:00 PM (IST)
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)

Agenda Items

1. Adoption of audited financial statements for FY ended March 31, 2026

2. Re-appointment of Mrs. Surjeet Kaur Malhotra (DIN: 03094598) as Director who retires by rotation

Special Resolution for Director Re-appointment

Mrs. Surjeet Kaur Malhotra, aged 86 years, is being re-appointed as Non-Executive Director despite being above the age of 75, requiring special resolution approval as per Regulation 17(1A) of SEBI LODR Regulations.

Corporate Governance

Board Composition

  • Total Directors: 6
  • Executive Directors: 2 (including one woman director)
  • Non-Executive Directors (other than Independent): 1
  • Independent Non-Executive Directors: 3

Board Meetings

  • Five meetings held during FY 2025-26
  • Dates: May 27, 2025; July 2, 2025; August 6, 2025; November 11, 2025; February 12, 2026

Key Managerial Personnel

  • Mr. Harpreet Singh Malhotra: Chairman & Managing Director
  • Mrs. Benu Malhotra: Director
  • Mr. Vishal Saurav: Company Secretary & Compliance Officer
  • Mr. Madhusudan Jhunjhunwala: CFO

Operational Highlights

  • Container Volumes: Increased by 34.5% year-on-year
  • Employee Strength: 240 employees as of March 31, 2026 (prev. 216)
  • Global Network: Presence across multiple continents including Latin America, Europe, Middle East, East Asia, Oceania, South Asia, North Asia, Central Asia, West Africa, East Africa, Caribbean, Southeast Asia, and North America
  • India Presence: Offices in New Delhi (HQ), Mumbai, Ahmedabad, Chennai, Gandhidham, Bengaluru, Nashik, Pune, and multiple ICD locations

Liquidity and Financial Position

  • Current Ratio: 2.30 (prev. 3.30)
  • Debt-Equity Ratio: 0.30 (prev. 0.20)
  • Debt Service Coverage Ratio: 7.11 (prev. 13.02)
  • Return on Equity Ratio: 14.43% (prev. 21.68%)

Significant Changes in Financial Ratios

The management attributed the changes in financial ratios to:

  • Current obligations grew faster than available liquidity from current assets
  • Increased reliance on external borrowings to support funding requirements
  • Sharp increase in interest cost (up 60%) while earnings available for debt servicing declined
  • Decline in PAT margins affecting ROE
  • Strategic decision to increase credit period to penetrate new business segments affecting trade receivables turnover
  • Substantial increase in direct operating expenses affecting trade payables turnover

Auditors

  • Statutory Auditor: M/s. Garg Agrawal & Agrawal, Chartered Accountants
  • Secretarial Auditor: M/s. AMJ & Associates, Company Secretaries
  • Internal Auditor: M/s. Amit & Nitin, Chartered Accountants

All auditors' reports are unqualified without any adverse remarks.

CSR Activities

  • Average Net Profit: ₹28,35,91,135
  • Prescribed CSR Expenditure (2%): ₹56,71,822
  • Actual CSR Expenditure: ₹57,00,000
  • CSR Initiatives: Focus on education, environment, and welfare of women and underprivileged sections through implementing agency Parvaah
  • Key Projects: Women's Health & Hygiene Camp, Shakti Naman Initiative for female inmates, Diwali celebrations at hospitals, educational support programs, urban forestry initiative, and flood relief in Punjab

Compliance Status

  • No material pending litigations except tax demands under dispute
  • Income Tax: ₹30.35 lakhs under dispute
  • GST: ₹124.34 lakhs under dispute
  • No defaults in repayment of loans or borrowings
  • No instances of fraud reported during the year
  • Compliance with all applicable laws and regulations

Forward Outlook

The company remains focused on:

  • Strengthening high-growth segments including solar logistics
  • Expanding business network globally
  • Enhancing digital capabilities across operations
  • Capitalizing on emerging opportunities in renewable energy, electric vehicles, and battery storage systems
  • Maintaining operational excellence and customer-centric solutions

Voting Instructions for AGM

  • Remote e-voting period: September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
  • Cut-off date: September 17, 2026
  • Members can vote through NSDL/CSDL platforms or through Bigshare Services Pvt. Ltd.
  • Physical attendance not required due to VC/OAVM meeting format

Important Notes

  • The AGM will be conducted through video conferencing as permitted by MCA circulars
  • No physical attendance required
  • All documents available on company website: www.tigerlogistics.in
  • The complete Annual Report includes detailed financial statements, management discussion & analysis, corporate governance report, and other statutory disclosures