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JETFREIGHT - Jet Freight

📊 NSE: JETFREIGHT 🏢 Transport - Airlines 📅 Last Updated: 12/14/2025 8:36

📢 Recent Corporate Announcements

Jet Freight Extends Resignation Date of DGM Sales Dheeraj Chanigalla to May 29, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 29 Apr 2026, 01:23 PM

Jet Freight Logistics Limited has announced a revision in the resignation timeline for Mr. Dheeraj Chanigalla, the Deputy General Manager of Sales for Air Export. Following a previous announcement on March 5, 2026, his tenure has been extended by one month to facilitate the completion of handover formalities. His final day of service as a Senior Management Personnel will now be May 29, 2026. This update ensures a smoother transition for the company's air export sales division.

Resignation of DGM Sales - Air Export, Mr. Dheeraj Chanigalla, was originally notified on March 5, 2026.
The effective resignation date has been extended by 1 month for handover purposes.
The new final date of resignation is set for the close of business on May 29, 2026.
The position is classified as Senior Management Personnel under SEBI Regulation 16(1)(d).

💡 This is a routine administrative update regarding a previously announced resignation and requires no immediate action. Investors should monitor for the appointment of a new head for the Air Export sales segment.

Jet Freight Proposes Re-appointment of MD and WTD with Remuneration up to ₹2 Crore

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 28 Apr 2026, 06:03 PM

Jet Freight Logistics has issued a postal ballot notice to seek shareholder approval for the re-appointment of Mr. Richard Francis Theknath as Managing Director and Chairman for a three-year term starting June 20, 2026. The proposed remuneration for the MD is set at ₹1.50 crore per annum, with a provision to increase up to ₹2.00 crore. The company is also seeking approval for the re-appointment of Mr. Dax Francis Theknath as Whole-time Director. Shareholders can participate in the remote e-voting process from April 29 to May 28, 2026.

Re-appointment of Mr. Richard Francis Theknath as MD and Chairman for 3 years effective June 2026.
Proposed MD remuneration starts at ₹1.50 crore, with a salary scale reaching up to ₹2.00 crore per annum.
Re-appointment of Mr. Dax Francis Theknath as Whole-time Director for a concurrent 3-year period.
Remote e-voting period is scheduled from April 29, 2026, to May 28, 2026.
Final results of the postal ballot will be declared on or before May 30, 2026.

💡 Investors should monitor the voting results to ensure leadership continuity and evaluate if the proposed remuneration scales are aligned with the company's financial performance. No immediate action is required other than participating in the voting process if holding shares.

Jet Freight to Re-appoint MD & WTD; Proposes Remuneration up to ₹2 Cr for Chairman

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 28 Apr 2026, 06:01 PM

Jet Freight Logistics has issued a postal ballot notice to seek shareholder approval for the re-appointment of Mr. Richard Francis Theknath as Managing Director and Chairman for a three-year term starting June 20, 2026. The company has proposed a remuneration structure for him starting at ₹1.50 crore per annum, with a potential increase up to ₹2.00 crore. Additionally, the re-appointment of Mr. Dax Francis Theknath as a Whole-time Director for three years is also on the agenda. Shareholders can cast their votes via remote e-voting from April 29 to May 28, 2026.

Re-appointment of Richard Francis Theknath as MD & Chairman for 3 years effective June 20, 2026
Proposed annual remuneration for MD ranges from ₹1.50 crore to ₹2.00 crore including incentives
Re-appointment of Dax Francis Theknath as Whole-time Director for a 3-year period
Remote e-voting period scheduled from April 29, 2026, to May 28, 2026
Remuneration includes a provision for minimum payment in case of inadequate profits

💡 Investors should evaluate the proposed remuneration against the company's recent profit trends and ensure they participate in the e-voting process before the May 28 deadline.

Jet Freight Re-appoints Richard and Dax Theknath as MD and WTD for 3-Year Terms

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 27 Apr 2026, 01:06 PM

Jet Freight Logistics has approved the re-appointment of its core leadership team for a further three-year term starting June 20, 2026. Mr. Richard Francis Theknath, with over 30 years of experience, will continue as Managing Director and Chairman, while Mr. Dax Francis Theknath remains as Whole-time Director. These appointments, effective until June 19, 2029, are subject to shareholder approval via a postal ballot. The move ensures leadership continuity for the company, which has historically maintained top rankings with major global airlines.

Re-appointment of Richard Francis Theknath as MD and Chairman for a 3-year term from 2026 to 2029.
Re-appointment of Dax Francis Theknath as Whole-time Director for a 3-year term from 2026 to 2029.
Richard Theknath brings over 30 years of experience and has led the company to be ranked as the No. 1 agent for 10 consecutive years by several airlines.
Dax Theknath possesses over 20 years of experience in freight forwarding and holds a Commercial Pilot License.
The board has approved a draft notice of Postal Ballot to seek shareholder approval for these re-appointments.

💡 Investors should view this as a positive sign of management stability and continuity. No immediate action is required, though shareholders should participate in the upcoming postal ballot to confirm the leadership team.

Jet Freight Logistics Promoter Confirms No New Share Encumbrances for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Apr 2026, 02:30 PM

Mr. Richard Francis Theknath, the Promoter and CMD of Jet Freight Logistics, has submitted a formal declaration under SEBI (SAST) Regulations. The disclosure confirms that the promoter group and persons acting in concert have not created any new direct or indirect encumbrances on their shareholding during the 2025-2026 financial year. This is a routine annual compliance filing that ensures transparency regarding promoter share pledges. It indicates that there are no new debt-related liens on the promoter's equity stake beyond what was previously disclosed.

Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoter Richard Francis Theknath confirms no new share pledges were made during FY 2025-26.
The disclosure covers the promoter, promoter group, and all Persons Acting in Concert (PAC).
Standard annual compliance confirming the status of promoter-held equity encumbrances.

💡 No immediate action is required as this is a routine regulatory filing. Investors should continue to monitor the company's quarterly shareholding patterns for any changes in overall pledge levels.

Jet Freight Logistics Promoters Declare No New Share Pledging for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 08 Apr 2026, 04:04 PM

Jet Freight Logistics Limited has submitted its annual disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Promoter, Chairman, and Managing Director, Richard Francis Theknath, confirmed that no new encumbrances or pledges were made on promoter shares during the financial year ended March 31, 2026. This declaration covers the promoter, promoter group, and persons acting in concert, ensuring transparency regarding the status of their equity holdings. Such filings are standard regulatory requirements for listed companies in India.

Annual declaration submitted under Regulation 31(4) of SEBI (SAST) Regulations, 2011.
Confirmation that no new direct or indirect encumbrances were created during FY 2025-2026.
The disclosure was made by Promoter Richard Francis Theknath on behalf of the entire promoter group.
The filing pertains to the financial year ending March 31, 2026.

💡 This is a routine regulatory filing that confirms no change in the encumbrance status of promoter shares. Investors should focus on the company's upcoming financial results for fundamental performance cues.

Jet Freight Logistics Updates Fair Disclosure Code for UPSI Effective April 1, 2026

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 31 Mar 2026, 03:03 PM

Jet Freight Logistics Limited has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) to align with SEBI regulations. The updated policy, Version 5, was approved by the Board on March 31, 2026, and becomes effective from April 1, 2026. The code provides a structured framework for the timely and uniform dissemination of material information to avoid selective disclosure. This update is a routine compliance measure under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Amendment to the Code of Fair Disclosure (Version 5) effective from April 1, 2026.
Defines 16 specific categories of Unpublished Price Sensitive Information (UPSI) including financial results and M&A.
Designates the Company Secretary as the Chief Investor Relations Officer (CIRO) for universal information dissemination.
Establishes clear definitions for 'Legitimate Purpose' regarding the sharing of sensitive data with stakeholders.
Reinforces trading window closure protocols, typically starting 7 days prior to UPSI events.

💡 No immediate action is required as this is a routine regulatory update. Investors should view this as a positive step toward maintaining corporate governance and transparency.

Jet Freight Logistics Appoints M/s. Daya & Associates as Internal Auditors for Q4 FY26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Mar 2026, 02:52 PM

Jet Freight Logistics Limited has announced the appointment of M/s. Daya & Associates as the company's Internal Auditors for the fourth quarter of the financial year 2025-26. The appointment was approved by the Board of Directors on March 31, 2026, following recommendations from the Audit Committee. M/s. Daya & Associates is a Mumbai-based Chartered Accountant firm established in 2013, specializing in audit, taxation, and regulatory compliance. This move is part of the company's routine regulatory compliance to ensure robust internal controls.

Appointment of M/s. Daya & Associates (FRN: 026377N) as Internal Auditors.
The appointment is specifically for the Fourth Quarter (Q4) of the Financial Year 2025-26.
Board approval was finalized during the meeting held on March 31, 2026.
The appointed firm has over 12 years of experience in audit, assurance, and bank audits since its establishment in 2013.

💡 This is a routine administrative update regarding internal governance and requires no specific action from investors. Continue to monitor the company's upcoming Q4 financial results.

Jet Freight Logistics Appoints Internal Auditors for Q4 FY26 and Updates Governance Policies

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 31 Mar 2026, 01:30 PM

Jet Freight Logistics Limited announced the appointment of M/s. Daya & Associates as Internal Auditors for the fourth quarter of FY 2025-26. The board also approved significant updates to internal governance frameworks, including the Code of Fair Disclosure for UPSI and policies on Related Party Transactions. These amendments align the company with the latest SEBI (PIT) and (LODR) regulatory requirements. The meeting concluded on March 31, 2026, marking a routine but necessary step in maintaining compliance standards.

M/s. Daya & Associates appointed as Internal Auditors for the Q4 FY 2025-26 period.
Board approved Version 5 of the Code of Practices and Procedures for Fair Disclosure of UPSI.
Comprehensive amendments made to Risk Management, Material Subsidiary, and Related Party Transaction policies.
The board meeting was held on March 31, 2026, and lasted for one hour from 12:15 p.m. to 01:15 p.m.

💡 These are standard regulatory updates and do not impact the company's financial fundamentals. Investors should continue to track the company's operational performance in the logistics sector.

Jet Freight Appoints New Internal Auditor and Updates Governance Policies

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 31 Mar 2026, 01:29 PM

Jet Freight Logistics Limited held a board meeting on March 31, 2026, to approve several regulatory and governance updates. The company appointed M/s. Daya & Associates as the Internal Auditors specifically for the fourth quarter of the financial year 2025-26. Additionally, the board approved amendments to the Code of Fair Disclosure of UPSI and several key policies including those for Material Subsidiaries and Related Party Transactions. These moves are aimed at maintaining compliance with SEBI's evolving regulatory framework.

Appointment of M/s. Daya & Associates as Internal Auditors for Q4 FY 2025-26
Approval of Version 5 of the Code of Practices and Procedures for Fair Disclosure of UPSI
Amendments to policies regarding Material Subsidiaries, Materiality of Events, and Risk Management
Board meeting conducted on March 31, 2026, between 12:15 p.m. and 01:15 p.m.

💡 These are routine administrative and compliance updates that do not impact the company's fundamentals. No immediate action is required from investors.

Jet Freight to Participate in India International Cargo Show 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Mar 2026, 04:54 PM

Jet Freight Logistics Limited (JETFREIGHT) has announced its participation in the India International Cargo Show 2026 (IICS 2026), South Asia's largest multimodal logistics exhibition. The event is scheduled to take place from June 3 to June 5, 2026, at Bharat Mandapam in New Delhi. The company intends to leverage this platform to showcase its diverse service offerings, including air, ocean, road, and cold chain logistics. This move aligns with the company's growth strategy to enhance its global supply chain presence and explore new strategic partnerships.

Participation in IICS 2026 scheduled for June 3-5, 2026, in New Delhi
Showcasing integrated logistics capabilities across air, ocean, road, and cold chain services
Strategic focus on networking with global stakeholders at Booth No. C19
Aims to identify new business opportunities in both domestic and international markets

💡 This is a routine corporate update regarding business development and marketing activities. No immediate action is required as the event is unlikely to have a direct short-term impact on the stock price.

Jet Freight Logistics to Close Trading Window from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Mar 2026, 05:12 PM

Jet Freight Logistics Limited has announced the closure of its trading window for all designated persons starting April 1, 2026. This closure is in compliance with SEBI Insider Trading regulations ahead of the finalization of financial results for the quarter and year ending March 31, 2026. The window will remain closed until 48 hours after the financial results are declared to the stock exchanges. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.

Trading window closure effective from April 1, 2026.
Closure pertains to the finalization of financial results for Q4 and FY ending March 31, 2026.
Window to reopen 48 hours after the official declaration of financial results.
Board meeting date for result approval to be intimated in due course.

💡 No action is required as this is a routine regulatory filing. Investors should monitor for the upcoming board meeting date announcement to track the company's Q4 and annual performance.

Jet Freight Logistics DGM Sales Dheeraj Chanigalla Resigns Effective April 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 05 Mar 2026, 03:52 PM

Jet Freight Logistics Limited has announced the resignation of Mr. Dheeraj Chanigalla, who served as the Deputy General Manager Sales – Air Export. As a designated Senior Management Personnel under SEBI regulations, his departure is a mandatory disclosure. He will continue in his role until the close of business hours on April 29, 2026. The company cited his reason for leaving as a desire to explore new professional opportunities outside the organization.

Mr. Dheeraj Chanigalla resigned from the post of Deputy General Manager Sales – Air Export.
The resignation is effective from the closure of business hours on April 29, 2026.
The official reason provided for the resignation is to explore new opportunities outside the company.
The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015, identifying him as Senior Management.

💡 This is a routine management change at the mid-to-senior level and should not impact the company's long-term fundamentals. Investors should monitor if the company quickly fills this sales leadership role to maintain its air export momentum.

Jet Freight Logistics Appoints Finportal Investments as Investor Relations Agency

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Feb 2026, 12:27 PM

Jet Freight Logistics Limited has officially appointed Finportal Investments Private Limited as its Investor Relations (IR) agency effective February 26, 2026. The agency will provide professional IR advisory services to enhance the company's communication with the investment community. The company confirmed that Finportal holds zero shares in Jet Freight and the agreement involves no related party transactions or special rights. This move is part of the company's effort to improve transparency and handle investor queries more effectively through its dedicated email channel.

Finportal Investments Private Limited appointed as the official IR agency effective February 26, 2026.
The agency will provide Investor Relations Advisory Services to improve stakeholder engagement.
Zero shareholding held by the IR agency in Jet Freight Logistics Limited.
No related party transactions or special rights like board seats were granted in the agreement.
Reiterated the dedicated investor communication email ID: ir@jfll.com.

💡 This is a routine administrative update. Investors should look for improved quality in disclosures and more frequent investor interactions as a result of this appointment.

Jet Freight Appoints Finportal Investments as Investor Relations Agency

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Feb 2026, 12:25 PM

Jet Freight Logistics Limited has officially appointed Finportal Investments Private Limited as its Investor Relations (IR) Agency effective February 26, 2026. The agency will provide professional advisory services to enhance the company's communication with its shareholders and the broader investment community. The agreement involves no shareholding by the agency, no special rights like board seats, and is not a related party transaction. This move suggests a commitment to improving transparency and investor engagement.

Appointment of Finportal Investments Private Limited as IR Agency effective February 26, 2026
Agency will provide Investor Relations Advisory Services to the company
No shareholding or special rights granted to the agency under the agreement
Designated investor communication email remains ir@jfll.com for all queries

💡 This is a routine administrative update and requires no immediate action. Investors should look for improved quality in future disclosures and investor outreach as a result of this appointment.

View All JETFREIGHT Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment of freight forwarding. Total revenue from operations grew 12.3% YoY to INR 436.64 Cr in FY25 compared to INR 387.79 Cr in FY24. This growth was achieved despite a 6.3% decline in air freight tonnage and a 38.5% decline in ocean freight TEUs, indicating higher yields per unit.

Profitability Margins

Gross Profit margin improved slightly to 9.36% in FY25 from 9.17% in FY24. Net Profit margin increased to 0.9% (INR 3.73 Cr) from 0.1% (INR 0.26 Cr) in the previous year, driven by cost optimization and higher operational efficiency.

EBITDA Margin

EBITDA margin stood at 3.49% in FY25, a significant improvement of 162 bps from 1.87% in FY24. EBITDA grew 86.6% YoY to INR 15.29 Cr, reflecting better control over operating expenses.

Capital Expenditure

The company has a long-outstanding 'Advance for Warehouse Project' (Note 7), though the specific INR value for planned future CapEx is not explicitly totaled. The audit highlighted concerns regarding the lack of physical progress on this project.

Credit Rating & Borrowing

Interest coverage ratio increased by 67.4% to 2.21 in FY25 from 1.32 in FY24, indicating a stronger ability to service debt. Total borrowings include non-current borrowings of INR 14.92 Cr and current borrowings of INR 48.28 Cr.

⚙️ Operational Drivers

Raw Materials

Freight space and carrier capacity (Air and Ocean) represent the primary 'raw material' cost, accounted for as Operational Expenses at INR 395.66 Cr, which is 90.6% of total revenue.

Key Suppliers

The company sources capacity from various airlines and shipping lines; specific company names are not listed, but the company maintains a 30-day payable cycle with most airlines.

Capacity Expansion

Current air freight volume is 23,157 Tons and ocean freight is 3,910 TEUs. The company is focusing on increasing revenue from the ocean freight segment to shorten the working capital cycle.

Raw Material Costs

Operational expenses (freight costs) increased 12.3% YoY to INR 395.66 Cr, moving in line with revenue growth. Procurement strategies focus on cost optimization and technology-driven processes.

Manufacturing Efficiency

Not applicable as a service provider; however, operational efficiency is reflected in the 86.6% growth in EBITDA despite lower volumes.

Logistics & Distribution

Operational expenses (distribution/freight costs) represent 90.6% of revenue.

📈 Strategic Growth

Expected Growth Rate

12.30%

Growth Strategy

Growth will be achieved through a focus on the ocean freight segment (which offers shorter credit periods), cost optimization initiatives, and technology-driven processes. The company is also intensifying recruitment in sales and supply chain operations to expand market reach.

Products & Services

Air freight forwarding (specializing in perishables like fruits and vegetables, and general cargo) and Ocean freight forwarding services.

Brand Portfolio

Jet Freight.

Market Expansion

The company is targeting an increase in ocean freight revenue to improve working capital efficiency and competitive advantage.

🌍 External Factors

Industry Trends

The industry is seeing volatile freight costs and a shift toward digital logistics. Jet Freight is positioning itself by integrating technology and focusing on high-value perishable cargo (73.7% of its air volume).

Competitive Landscape

The company competes in the freight forwarding industry, where it maintains a competitive advantage by offering business credit to customers despite shorter payable cycles to airlines.

Competitive Moat

The company's moat is built on its 'talent-savvy manpower' and specialized expertise in perishable logistics, which accounts for 17,072 tons of its 23,157-ton air freight business.

Macro Economic Sensitivity

Highly sensitive to global fuel prices and trade volumes. A spike in oil prices directly increases air freight costs, impacting the 90.6% operational expense base.

Geopolitical Risks

Regional conflicts and disruptions in shipping lanes (Red Sea) have led to re-routing and increased transit times, impacting service commitments and costs.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to the Companies Act, 2013. The company is currently seeking shareholder approval for excess managerial remuneration under Section 197.

Taxation Policy Impact

The effective tax rate for FY25 was approximately 41% (INR 2.58 Cr tax on INR 6.30 Cr PBT).

Legal Contingencies

The company has a pending income tax demand for AY 2018-19 which is currently stayed by the Assessing Officer. It also faces audit observations regarding excess managerial remuneration of INR 1.14 Cr (INR 1,13,71,520) paid to directors.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the recoverability of the 'Advance for Warehouse Project' due to lack of physical progress. Geopolitical instability remains a high-impact risk for transit costs.

Third Party Dependencies

High dependency on airlines and shipping lines for cargo space; the company must manage a 35-day gap between its payable cycle (30 days) and receivable cycle (65 days).