The document is a transcript of the Q2 & H1 FY27 Earnings Conference Call held on Thursday, 05th November 2026 at 1:30 PM IST, hosted by Rik Capital.
Management participants included Mr. Makarand Pradhan (Managing Director), Mr. Shrikant Nibandhe (CFO and Director), and Mr. Bhavik Trivedi (Company Secretary & Compliance Officer).
The call began with opening remarks about the economic outlook and logistics sector update, followed by detailed financial performance discussion and Q&A session with analysts and investors.
The company stated that the discussion contained forward-looking statements subject to risks and uncertainties, and referred participants to company filings with stock exchanges for detailed risk factors.
No specific indication was provided about availability of presentation deck, transcript, or recording on the company website, though management referenced that financial results were accessible on the NSE website.
The transcript contained extensive financial highlights for Q2 FY27: Consolidated revenue grew 73.7% YoY to ₹283.9 crores (46.7% QoQ growth); EBITDA increased 2.2x YoY to ₹10.4 crores with margin improvement to 3.7% from 2.9%; PAT surged 3.3x YoY to ₹7.1 crores with margin improvement to 2.5% from 1.4%. H1 FY27 performance showed revenue of ₹477.5 crores (53.6% growth), EBITDA of ₹16.9 crores (84.5% growth), and PAT of ₹11.2 crores (112.5% growth).
Operational updates included: LCL consolidation volumes of 107,980 CBM (vs 91,504 CBM in Q1); FCL freight forwarding volumes of 4,435 TEUs (vs 4,025 TEUs in Q1); Air freight volumes of 549 tons (vs 434 tons in Q1). The company highlighted growth from Abhilaya business and expansion with Amazon and Flipkart dark store operations.
Forward-looking statements included expectations of maintaining 4% EBITDA margins, sustained freight rates for next 2 quarters despite geopolitical tensions, and expansion of Flipkart Minutes business to 20 locations.
Additional Notes Section
The document represents the complete transcript of the earnings conference call submitted to NSE pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
The transcript included detailed Q&A session with questions from Abhishek Verma (Cloud 9 Family Office), Darshan Chandra (individual investor), Shashi Singh (Dalal and Broacha), Abhijeet Waghmare (B P Capital), and Adarsh Sharma (SpringTree Investors).
Key discussion points in Q&A included: strategies for profitability improvement, impact of US elections on freight rates, EBITDA margin sustainability, Abhilaya stake sale progress, working capital management with receivables at ₹179 crores, technology initiatives using AI tools, and outlook for H2 FY27 performance.
Management explicitly stated that no unpublished price sensitive information (UPSI) would be shared during the call, though the transcript contained detailed operational and financial information already disclosed in results.
The call concluded with Diwali greetings and management's commitment to continued performance.
