💰 Financial Performance

Revenue Growth by Segment

The company operates in a single consolidated segment of integrated logistics services, which grew 56.73% YoY to ₹104.76 Cr in FY25. For Q2 FY26, revenue reached ₹38.78 Cr, a 60.77% YoY increase.

Geographic Revenue Split

Domestic dominance in key cities contributes 60% to total revenue, reflecting a strong urban network footprint.

Profitability Margins

Net Profit (PAT) grew 58.50% to ₹6.44 Cr in FY25 with a PAT margin of 6.15%. Q2 FY26 PAT margin stood at 4.87% (₹1.89 Cr), reflecting seasonal impacts.

EBITDA Margin

FY25 EBITDA margin was 11.35% (₹11.42 Cr), up 49.69% YoY. Q2 FY26 EBITDA margin dipped to 9.59% from 12.73% YoY due to monsoon-related service maintenance costs.

Capital Expenditure

Property, Plant & Equipment increased 98.7% to ₹7.85 Cr in FY25 from ₹3.95 Cr, primarily for fleet and warehouse infrastructure expansion.

Credit Rating & Borrowing

CARE assigned a long-term rating of CARE BB+; Stable and a short-term rating of CARE A4. Total debt as of March 2025 was ₹18.8 Cr, with interest rate volatility identified as a risk to borrowing costs.

⚙️ Operational Drivers

Raw Materials

Fuel (Diesel) is the primary operational cost, part of the ₹77.55 Cr other expenses which represent 74% of total revenue.

Import Sources

Sourced domestically within India to support nationwide logistics operations.

Key Suppliers

Not disclosed in available documents.

Capacity Expansion

Logistics: 94 owned vehicles and 226,250 sq ft owned warehouse area current, expanding fleet and geographic reach to achieve ₹500 Cr revenue by 2029.

Raw Material Costs

Other expenses (including fuel) rose 51.7% to ₹77.55 Cr in FY25, representing 74% of revenue, driven by higher shipment throughput.

Manufacturing Efficiency

Maintained a customer retention ratio of >92% and achieved higher shipment throughput during the festive season.

Logistics & Distribution

Integrated logistics services generated ₹104.76 Cr in FY25, with distribution costs embedded in the 74% other expenses.

📈 Strategic Growth

Expected Growth Rate

47.80%

Growth Strategy

Achieving the ₹500 Cr revenue target by 2029 through fleet expansion, geographic reach enhancement, and aggressive client acquisition in high-growth sectors like FMCG and Retail, while maintaining 11-12% EBITDA margins through operational leverage.

Products & Services

Transportation, Warehousing, Reverse Logistics, CFA Services, and Value-Added Services.

Brand Portfolio

Pranik Logistics.

New Products/Services

Expansion of customized reverse logistics and value-added services to diversify revenue streams.

Market Expansion

Targeting nationwide reach beyond current 40+ hubs to enhance supply chain density.

Market Share & Ranking

Not disclosed in available documents.

Strategic Alliances

Service agreement with Meesho Limited for sort center operations, though Siliguri operations were recently changed after mutual review.

🌍 External Factors

Industry Trends

Logistics industry is shifting towards integrated, tech-enabled 'one-stop' solutions; Pranik is positioned as a service-led player with an asset-light model.

Competitive Landscape

Highly competitive with pressure on pricing power from both organized and unorganized players.

Competitive Moat

Sustainable moat through an asset-light model for rapid scalability, integrated service offerings, and a high customer retention rate of >92%.

Macro Economic Sensitivity

Sensitive to GDP growth and fuel inflation; fuel price spikes directly impact the 74% operating cost base.

Consumer Behavior

Demand is influenced by festive seasons and growth in e-commerce/retail sectors, driving higher shipment throughput.

Geopolitical Risks

Vigilant of global supply chain disruptions that may impact domestic client demand in automotive and engineering sectors.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Companies Act, GST, and Transport laws; internal controls are reviewed through periodic audits.

Environmental Compliance

CSR policy focused on healthcare and environmental sustainability; obligation was below ₹50 lakhs in FY25.

Taxation Policy Impact

Effective tax rate of ~25.2% in FY25 (₹2.17 Cr tax on ₹8.61 Cr PBT).

Legal Contingencies

Not disclosed in available documents.

⚠️ Risk Analysis

Key Uncertainties

Fuel price volatility and intense market competition could impact the 11-12% EBITDA margin target.

Geographic Concentration Risk

60% of revenue is concentrated in key domestic cities, creating sensitivity to regional economic shifts.

Third Party Dependencies

High customer concentration risk; loss of a major client like Meesho could significantly impact revenue.

Technology Obsolescence Risk

Mitigated by ongoing investment in ERP and real-time tracking systems to maintain service transparency.

Credit & Counterparty Risk

Trade receivables of ₹30.33 Cr (28.9% of revenue) indicate significant credit exposure and dependency on client payment cycles.