Sindhu Trade Links Limited (SINDHUTRAD)
₹20.39 -1.31% on 19 Oct, as of 12:25 IST · NSE
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sindhu Trade's revenue was ₹129 Cr (-25.9% year on year, +12.4% on the previous quarter), and net profit ₹38.7 Cr (+106.1% year on year); the operating margin was 16.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹129 | -25.9% | +12.4% |
| Operating profit | ₹21.3 | +64.0% | +326.4% |
| Net profit | ₹38.7 | +106.1% | +176.7% |
| EPS (₹) | 0.17 | +112.5% | +88.9% |
| Operating margin | 16.5% | — | — |
SINDHUTRAD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 41.67% of the SINDHUTRAD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 54.48%. That is close to its usual level. Turnover was only ₹44 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 51.1% · 63.6% · 66.7% · 54.0% · 41.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Sindhu Trade Links Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026. The certificate, issued by Registrar and Share Transfer Agent Indus Portfolio Private Limited on 07-Oct-2026, confirms that security certificates received for dematerialization were processed, mutilated, and cancelled within 15 days. The depositories' names have been duly updated in the register of members. This is a standard quarterly administrative filing with no financial impact.
- Regulation 74(5) certificate submitted for the quarter ended 30th September, 2026
- RTA Indus Portfolio Private Limited issued the certificate dated 07-Oct-2026
- Confirmed that demat certificates were mutilated and cancelled within 15 days
- Filing officially released to stock exchanges on 14.10.2026
Sindhu Trade Links Limited has submitted a disclosure under Regulation 10(6) of SEBI (SAST) Regulations, 2011, reporting an inter-se transfer of shares among promoter group members. The acquisition was conducted as an off-market gift without monetary consideration between immediate relatives. The company confirmed that there is no change in control and the aggregate promoter shareholding remains unchanged post-transaction. Details of exact share counts were referenced in Annexure-I which was not fully excerpted in the text.
- Inter-se transfer executed under SEBI SAST Regulation 10(1)(a)(i) exemption
- Shares transferred by way of gift without monetary consideration
- Zero change in control or total promoter group shareholding percentage
- Specific share quantity and seller names cross-referenced to Annexure-I (not disclosed in text)
Sindhu Trade Links Limited has received trading approvals from BSE and NSE for 30,04,55,030 equity shares of face value Re 1 each issued on a preferential basis to promoters and non-promoters. The shares were issued at a premium of Rs 22.20 per share (issue price Rs 23.20 per share), implying an issuance value of approximately Rs 697 crore. Trading in these newly listed shares is effective from October 1, 2026. This expands the equity base and represents significant dilution relative to existing shares.
- 30,04,55,030 equity shares of Re. 1/- each admitted to dealings effective October 01, 2026
- Shares issued at an issue price of Rs 23.20 (face value Re 1 plus premium of Rs 22.20)
- Total value of the preferential allotment is approximately Rs 697.06 crore
- Distinctive numbers approved range from 1,54,19,28,781 to 1,84,23,83,810
Sindhu Trade Links conducted its 34th Annual General Meeting on September 26, 2026, with 93 members attending via video conferencing. Key agenda items put to vote included related-party transactions (RPTs) totaling approximately Rs 650 crore across FY27 and FY28, including Rs 350 crore with ACB (India) Limited. Relative to the company's TTM revenue of Rs 521 crore, these proposed RPT limits are substantial. Official e-voting results and the scrutinizer's report are expected within 48 hours.
- AGM held on September 26, 2026, attended by 93 members via video conference
- Approval sought for related-party transactions with ACB (India) Ltd of approx Rs 350 crore for FY28
- Approval sought for RPTs of approx Rs 100 crore each for FY27 with Aryavrat Labtech, Sindhu Farms, and PM Fincap
- Total proposed RPT approvals amount to approx Rs 650 crore across multiple counterparties
- Consolidated e-voting results to be declared within 48 hours of meeting conclusion
Sindhu Trade Links Limited has received in-principle approval from both NSE and BSE on September 17, 2026, for the listing of 30,04,55,030 equity shares of face value Re. 1 each allotted on a preferential basis. The new equity issuance represents a substantial addition of shares, expanding the outstanding capital base from distinctive numbers 1,54,19,28,781 to 1,84,23,83,810. Final listing and trading remain subject to confirmation of share credit to beneficiary accounts by depositories NSDL and CDSL.
- NSE and BSE granted listing approval for 30,04,55,030 equity shares of face value Re. 1/- each.
- Approval letters dated September 17, 2026 (NSE/LIST/57067 and BSE LOD/PREF/RB/FIP/791/2026-27).
- Shares bear distinctive numbers from 1,54,19,28,781 to 1,84,23,83,810.
- Final listing is subject to depository credit confirmation from NSDL and CDSL.
Sindhu Trade Links Limited has submitted its Annual Report for the financial year ended March 31, 2026, alongside convening its Annual General Meeting on September 26, 2026. Statutory auditors NGC & Associates LLP issued an unmodified audit opinion on the FY26 financial statements. Key Audit Matters highlighted by the auditor include material uncertain tax positions/contingent liabilities and significant related-party transactions forming a major portion of revenues and expenses. Operationally, the company reported operating over 600 tippers and loaders (owned and leased) in its logistics business.
- Annual General Meeting scheduled to be held on September 26, 2026
- Statutory auditor M/s NGC & Associates LLP issued an unmodified audit opinion for FY26
- Key Audit Matters cite major portion of revenue and significant expenses generated with related parties
- Logistics fleet includes over 200 owned tippers, 100 loaders, and over 600 total units operating including leased vehicles
Sindhu Trade Links Limited has submitted its Annual Report for the financial year ended March 31, 2026, pursuant to Regulation 34 of SEBI LODR Regulations. Statutory auditor M/s NGC & Associates LLP issued an unmodified audit opinion on the standalone financial statements. The report notes that the company operates a fleet of over 600 tippers and loaders (including 200 owned tippers and 100 owned loaders) across its logistics operations. Key audit matters flagged include significant related party transactions and material uncertain tax positions and contingent liabilities.
- Annual Report for the financial year ended March 31, 2026 submitted under Regulation 34
- Statutory auditor M/s NGC & Associates LLP issued an unmodified audit opinion
- Company operates over 600 tippers and loaders, including >200 owned tippers and 100 owned loaders
- Key audit matters highlighted significant related party revenue/expenses and uncertain tax disputes
Sindhu Trade Links has reshuffled its top management and board effective August 13, 2026. Chief Financial Officer Vikas Singh Hooda has been promoted to Chief Executive Officer, while Ankur Gupta, with over 28 years of financial services experience, has been appointed as the new CFO. Concurrently, Non-Executive Independent Director Ajmer Singh resigned due to permanent relocation abroad. To reconstitute the board, the company appointed Ram Niwas Hooda and Bal Krishan Sharma as Additional Independent Directors.
- Vikas Singh Hooda promoted from CFO to Chief Executive Officer effective August 13, 2026
- Ankur Gupta appointed as Chief Financial Officer bringing over 28 years of financial sector experience
- Ajmer Singh resigns as Non-Executive Independent Director due to overseas relocation effective August 13, 2026
- Ram Niwas Hooda and Bal Krishan Sharma appointed as Additional Independent Directors
Sindhu Trade Links Limited has restructured its top leadership and board effective August 13, 2026. Vikas Singh Hooda has been promoted from Chief Financial Officer to Chief Executive Officer, while Ankur Gupta (with 28 years of financial services experience) takes over as the new CFO. Additionally, the company appointed two new Additional Independent Directors, Ram Niwas Hooda and Bal Krishan Sharma, following the resignation of Independent Director Ajmer Singh due to relocation abroad.
- Vikas Singh Hooda promoted from CFO to CEO effective August 13, 2026, bringing 27 years of experience in logistics, mining, and corporate strategy.
- Ankur Gupta appointed as Chief Financial Officer effective August 13, 2026, with over 28 years of experience in NBFC operations and wealth management.
- Ram Niwas Hooda and veteran Army General Bal Krishan Sharma appointed as Additional Independent Directors.
- Independent Director Ajmer Singh stepped down effective close of business August 13, 2026, due to permanent relocation abroad.
Sindhu Trade Links Limited announced key leadership and board changes effective August 13, 2026. Existing CFO Vikas Singh Hooda has been elevated to Chief Executive Officer (CEO), while Ankur Gupta, with over 28 years of financial services experience, has been appointed as the new CFO. Additionally, Independent Director Ajmer Singh resigned due to permanent relocation abroad, and two new Independent Directors—Ram Niwas Hooda and Bal Krishan Sharma—were appointed to the board.
- Vikas Singh Hooda promoted from CFO to Chief Executive Officer effective August 13, 2026
- Ankur Gupta appointed as Chief Financial Officer with over 28 years of experience in financial services and NBFC operations
- Ajmer Singh resigned as Non-Executive Independent Director citing permanent relocation abroad
- Ram Niwas Hooda and Bal Krishan Sharma appointed as Additional Independent Directors
Sindhu Trade Links Limited announced key leadership and board restructuring effective August 13, 2026. Vikas Singh Hooda (CFO, 27 years experience) has been promoted to Chief Executive Officer (CEO), while Ankur Gupta (28+ years experience in financial services and NBFCs) has been appointed as the new Chief Financial Officer (CFO). Concurrently, Non-Executive Independent Director Ajmer Singh resigned due to overseas relocation, and Ram Niwas Hooda along with Bal Krishan Sharma (veteran Army General) were inducted as Additional Independent Directors.
- CFO Vikas Singh Hooda (CA with 27 years experience) promoted to Chief Executive Officer effective August 13, 2026
- Ankur Gupta appointed as Chief Financial Officer with over 28 years of financial services and NBFC experience
- Independent Director Ajmer Singh resigned due to permanent relocation abroad, confirming no other material reasons
- Appointed two Additional Independent Directors: Ram Niwas Hooda and Bal Krishan Sharma (former DG, USI with nearly 50 years experience)
Sindhu Trade Links Limited has announced a major leadership reshuffle effective August 13, 2026. Mr. Vikas Singh Hooda, the existing CFO with 27 years of experience, has been promoted to Chief Executive Officer (CEO). To fill the resulting vacancy, Mr. Ankur Gupta, a financial services veteran with 28 years of experience, has been appointed as the new CFO. Additionally, the board has appointed two new Independent Directors, including a retired Indian Army General with 50 years of leadership experience, following the resignation of Mr. Ajmer Singh.
- Mr. Vikas Singh Hooda promoted from CFO to CEO, bringing 27 years of experience in logistics, mining, and strategy.
- Mr. Ankur Gupta appointed as CFO with 28 years of experience in NBFC operations and wealth management.
- Mr. Bal Krishan Sharma, a veteran Indian Army General with 50 years of leadership, joins as an Independent Director.
- Mr. Ajmer Singh resigned as Independent Director effective August 13, 2026, due to permanent relocation abroad.
- Mr. Ram Niwas Hooda, an advocate and former Bar Association president, re-joins the board as an Independent Director.
Sindhu Trade Links Limited has undergone a significant leadership restructuring effective August 13, 2026. Mr. Vikas Singh Hooda, the former CFO, has been promoted to Chief Executive Officer (CEO), while Mr. Ankur Gupta, who brings 28 years of financial services experience, has been appointed as the new CFO. Additionally, the company appointed two new Independent Directors, including a veteran Indian Army General, following the resignation of Mr. Ajmer Singh due to his relocation abroad. These changes occur as the company manages a market capitalization of ₹4,927 Cr and seeks to scale its finance and overseas mining operations.
- Mr. Vikas Singh Hooda promoted from CFO to CEO, bringing 27 years of experience in logistics and mining
- Mr. Ankur Gupta appointed as CFO with 28 years of expertise in NBFC operations and capital markets
- Two new Independent Directors, Mr. Ram Niwas Hooda and Mr. Bal Krishan Sharma, appointed to the board
- Mr. Ajmer Singh resigned as Independent Director effective August 13, 2026, due to permanent relocation abroad
- The company maintains a high P/E ratio of 85.7 against a TTM revenue of ₹566 Cr
Sindhu Trade Links has announced a major inorganic expansion, allotting 30.04 Cr equity shares to acquire a 78.26% stake in Singapore-based Advent Coal Resources Pte. Ltd. Additionally, the board approved the allotment of 9.72 Cr CCPS to acquire a 50.1% stake in Sainik Mining and Allied Services Limited. Financially, Q1 FY27 consolidated net profit rose to ₹38.74 Cr from ₹18.79 Cr YoY, despite a 23% decline in consolidated revenue to ₹133.99 Cr. The company also underwent a leadership transition, appointing Vikas Singh Hooda as CEO and Ankur Gupta as CFO.
- Allotment of 30,04,55,030 equity shares (Face Value ₹1) for the acquisition of 78.26% stake in Advent Coal Resources Pte. Ltd., Singapore
- Allotment of 9,71,76,757 CCPS for the acquisition of 50.1% stake in Sainik Mining and Allied Services Limited
- Consolidated Net Profit for Q1 FY27 stood at ₹38.74 Cr, a 106% increase compared to ₹18.79 Cr in Q1 FY26
- Consolidated Revenue from operations decreased to ₹133.99 Cr in Q1 FY27 from ₹174.43 Cr in the same quarter last year
- Appointment of Vikas Singh Hooda (former CFO) as CEO and Ankur Gupta as the new CFO
Sindhu Trade Links has received in-principle approval from both BSE and NSE for a significant preferential allotment. The company is authorized to issue 30,04,55,030 equity shares and 9,71,76,757 Compulsorily Convertible Preference Shares (CCPS), both at a face value of Rs. 1 each. Based on the current market cap of Rs. 5,126 Cr and a price of Rs. 25, this issuance represents a potential equity dilution of approximately 19.4%. The capital infusion is likely intended to support the company's stated strategy of scaling its finance operations and overseas mining activities.
- In-principle approval granted for 30,04,55,030 equity shares on a preferential basis.
- Approval also received for 9,71,76,757 Compulsorily Convertible Preference Shares (CCPS).
- Regulatory clearance obtained from NSE and BSE via letters dated July 31, 2026.
- Potential total issuance of 39,76,31,787 securities, representing ~19.4% of the current estimated equity base.
- Exchanges have mandated strict internal controls to prevent allottees from intra-day trading or selling shares until the allotment date.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for H1 FY26 reached INR 289.67 Cr. Segment performance compared to the FY25 run-rate shows Transportation, Logistics, Mining & Construction grew 1.6% to INR 197.18 Cr; Trading of Oil, Lubricants and Spares grew 13.1% to INR 17.34 Cr; Finance Operations grew 332% to INR 1.75 Cr; while Oil Drilling Operations declined 53% to INR 10.52 Cr.
Geographic Revenue Split
The company operates primarily in India with registered offices in New Delhi and operations in Gurugram. It also has exposure to Overseas Coal Mining and Trading, contributing to the diversified revenue base, though specific regional percentage splits are not disclosed in available documents.
Profitability Margins
Consolidated Net Profit Before Tax (PBT) margin improved to 10.8% in H1 FY26 (INR 35.06 Cr PBT on INR 323.83 Cr total income) compared to 7.2% in FY25. Standalone PBT margin for H1 FY26 stood at 6.7% (INR 15.90 Cr PBT on INR 236.97 Cr total income).
EBITDA Margin
The estimated Consolidated EBITDA margin for H1 FY26 is 20.6%, calculated from a PBT of INR 35.06 Cr, depreciation of INR 6.51 Cr, and standalone finance costs of INR 18.05 Cr. This reflects core operational strength despite a reduction in total income due to subsidiary disposals.
Capital Expenditure
Consolidated Property, Plant and Equipment (PPE) stood at INR 53.51 Cr as of September 30, 2025, a slight decrease from INR 55.72 Cr in March 2025, suggesting that depreciation of INR 6.51 Cr exceeded new capital additions during the period.
Credit Rating & Borrowing
Standalone finance costs were INR 18.05 Cr for H1 FY26, representing 7.6% of total standalone income. Specific credit ratings and interest rate percentages are not disclosed in available documents.
Operational Drivers
Raw Materials
Specific raw materials include crude oil derivatives for the lubricants segment, spare parts for the transport fleet, and consumables for drilling and mining operations. Cost of material and services consumed represents 63.6% of consolidated revenue from operations.
Capacity Expansion
The company maintains a significant asset base with Consolidated PPE of INR 53.51 Cr and Right to Use assets of INR 6.44 Cr. Specific capacity metrics in MT or units are not disclosed.
Raw Material Costs
Consolidated cost of materials and services consumed was INR 184.43 Cr in H1 FY26, down from INR 968.70 Cr in FY25, primarily due to the disposal of subsidiaries which reduced the overall scale of operations.
Manufacturing Efficiency
Manufacturing efficiency is driven by the utilization of its transport fleet and drilling rigs. Standalone depreciation of INR 5.05 Cr against a PPE base of INR 36.10 Cr indicates an annualized depreciation rate of approximately 28%.
Logistics & Distribution
Distribution and logistics are core revenue generators rather than just costs, with the Transportation and Logistics segment contributing 68% of total consolidated operational revenue.
Strategic Growth
Growth Strategy
The company is focusing on its core Transportation, Logistics, and Mining segment, which remains stable. It is also aggressively scaling its Finance Operations, which saw a 332% run-rate increase, and leveraging its overseas coal mining presence to offset domestic volatility.
Products & Services
Logistics and transportation services, mining and construction services, oil drilling services, lubricants, spare parts, coal, and financial/investment services.
Brand Portfolio
Sindhu Trade Links Limited.
New Products/Services
The company is expanding its Finance and Investment segment, which contributed INR 1.75 Cr in H1 FY26 compared to only INR 0.81 Cr for the full year FY25.
Market Expansion
Expansion is targeted through overseas coal mining and trading activities to diversify beyond the Indian logistics market.
External Factors
Industry Trends
The logistics industry is shifting toward integrated service providers. Sindhu Trade Links is positioning itself as a multi-modal player combining transport, mining, and energy services.
Competitive Landscape
Competes with organized and unorganized players in the Indian logistics and lubricants market, as well as specialized global firms in oil drilling.
Competitive Moat
The company's moat is built on its integrated service model and asset-heavy logistics fleet, which creates high entry barriers for competitors in the mining and drilling sectors.
Macro Economic Sensitivity
Highly sensitive to industrial production and mining output, which drive the demand for its core transportation and logistics services (68% of revenue).
Consumer Behavior
Industrial clients are increasingly seeking end-to-end logistics and mining partners to reduce supply chain complexity.
Geopolitical Risks
Overseas coal operations are subject to international trade regulations and geopolitical stability in mining regions.
Regulatory & Governance
Industry Regulations
Operations are governed by the Mines Act, oil industry safety regulations, and transportation permits. The company must also comply with Indian Accounting Standards (IND-AS) for financial reporting.
Environmental Compliance
Operations in mining and oil drilling are subject to stringent environmental norms and pollution control standards, though specific compliance costs are not disclosed.
Taxation Policy Impact
The effective tax rate for H1 FY26 is estimated at 42.8%, based on a Consolidated PBT of INR 35.06 Cr and an implied PAT of INR 20.04 Cr (derived from EPS of 0.13).
Risk Analysis
Key Uncertainties
The primary uncertainty is the volatility of the Oil Drilling segment, which saw a 53% revenue run-rate decline, and the sustainability of high 'Other Income' which historically bolstered profits.
Geographic Concentration Risk
Heavy concentration in the Indian market, particularly in the logistics and transportation sectors, makes the company vulnerable to domestic economic cycles.
Third Party Dependencies
Dependency on government and large industrial contracts for mining and drilling projects.
Technology Obsolescence Risk
Risk of obsolescence in the drilling fleet if not upgraded to meet newer, more efficient environmental and operational standards.
Credit & Counterparty Risk
The Finance Operations segment (INR 1.75 Cr revenue) introduces counterparty credit risk, particularly if lending to smaller entities in the transport ecosystem.
