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S J Logistics (India) Limited (SJLOGISTIC)

📊 NSE: SJLOGISTIC 🏢 Logistics Solution Provider 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, S J's revenue was ₹371 Cr (+33.5% year on year), and net profit ₹43.0 Cr (+48.3% year on year); the operating margin was 18.6%.

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹371	+33.5%	—
Operating profit	₹69.0	+56.8%	—
Net profit	₹43.0	+48.3%	—
EPS (₹)	28.40	+49.4%	—
Operating margin	18.6%	—	—

Full quarterly financials → Results calendar →

SJLOGISTIC delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 72.32% of the SJLOGISTIC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 79.18%. That is close to its usual level. Turnover was only ₹89 lakh, so a handful of trades can move this figure.

72.32%Delivery, 16 Oct

79.18%Own 20-session average

1.2×Volume vs its average

₹321.80NSE close · +0.94%

Delivery in the last 5 sessions: 81.8% · 80.4% · 64.4% · 75.6% · 72.3%

Delivery across the market →

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

CARE Assigns 'CARE BBB; Stable' and 'CARE A3+' to ₹100 Cr Bank Facilities of S J Logistics

🟡 NEUTRAL ⭐ 5/10

ROUTINE 📅 12 Oct 2026, 06:46 PM

CARE Ratings has assigned credit ratings to ₹100.00 crore of bank facilities of S J Logistics (India) Limited. The agency assigned 'CARE BBB; Stable' for ₹20.00 crore long-term facilities, and 'CARE BBB; Stable / CARE A3+' for ₹80.00 crore long-term/short-term facilities. The rating report highlights a 58.02% revenue CAGR between FY22 and FY26, alongside PBILDT margin expansion to 18.37% in FY26. However, CARE flagged working capital intensity, with working capital cycle stretching to 106 days and trade receivables reaching ₹240.61 crore in FY26.

Assigned 'CARE BBB; Stable' on ₹20.00 crore long-term bank facilities and 'CARE BBB; Stable / CARE A3+' on ₹80.00 crore long/short-term facilities
Total Operating Income rose to ₹654.55 crore in FY26 from ₹502.52 crore in FY25, achieving a 58.02% CAGR over FY22–FY26
PBILDT margin expanded from 4.51% in FY22 to 18.37% in FY26, aided by higher-margin project cargo and vessel charter operations
Working capital cycle stretched to 106 days in FY26 (up from 89 days in FY25), driven by receivables of ₹240.61 crore

💡 Track the upcoming quarterly numbers to monitor working capital lock-in (gross current asset days were 208 in FY26) and cash flow generation relative to high bank facility utilization (~86%).

S J Logistics Submits Q2 FY27 Share Capital Audit Report

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 12 Oct 2026, 12:17 PM

S J Logistics (India) Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended September 30, 2026, pursuant to Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. The audit was conducted by Practicing Company Secretary Rushabh Doshi. The filing confirms standard compliance regarding the reconciliation of issued and dematerialized equity shares. No discrepancies or irregularities were reported.

Compliance report filed for the quarter ended September 30, 2026
Audit executed by Practicing Company Secretary Rushabh Doshi
Equity share face value confirmed at Rs. 10/- Per Share
Company ISIN confirmed as INE0F3301020

💡 This is a recurring regulatory filing requiring no portfolio action; investors should track upcoming Q2 FY27 financial performance.

SJ Logistics: 23rd AGM Scheduled on Sep 23, 2026; E-Voting Cut-Off on Sep 18

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Aug 2026, 07:00 PM

S J Logistics (India) Limited has issued AGM notices and FY 2025-26 Annual Report access links to shareholders under Regulation 36 of SEBI LODR. The 23rd Annual General Meeting is scheduled for Wednesday, September 23, 2026, via video conferencing. The cut-off date for determining e-voting entitlement is September 18, 2026, with remote e-voting running from September 20 to September 22, 2026.

23rd Annual General Meeting scheduled for Wednesday, September 23, 2026, at 4:00 PM IST via VC/OAVM.
Cut-off date for remote e-voting entitlement is Friday, September 18, 2026.
E-voting window opens on September 20, 2026 (09:00 AM) and closes on September 22, 2026 (05:00 PM).
Intimation sent pursuant to Regulation 36(1)(b) to shareholders without registered emails as on August 21, 2026.

💡 Eligible shareholders can review the FY26 Annual Report and exercise voting rights between September 20 and September 22, 2026.

SJ Logistics Issues Notice for 23rd AGM on Sep 23, 2026; Proposes Re-appointment of Two WTDs

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Aug 2026, 05:05 PM

S J Logistics (India) Limited has released the notice for its 23rd Annual General Meeting (AGM) scheduled for Wednesday, September 23, 2026, via Video Conferencing. Key agenda items include adopting the audited standalone and consolidated FY26 financial statements and approving the re-appointment of two Whole-Time Directors, Mr. Kulshekhar Kumar and Mr. Jeet Rajen Shah, for 5-year terms. The proposed remuneration ceiling for each director is set up to ₹72 Lakhs per annum (up from last drawn ₹30.62 Lakhs and ₹36.00 Lakhs per annum, respectively). The cut-off date for e-voting eligibility is September 18, 2026.

23rd AGM scheduled to be held on Wednesday, September 23, 2026 at 4:00 PM IST via VC/OAVM.
Cut-off date for e-voting eligibility fixed as Friday, September 18, 2026, with voting open from September 20 to September 22, 2026.
Proposed re-appointment of Mr. Kulshekhar Kumar as Whole-time Director for 5 years with remuneration ceiling up to ₹72 Lakhs per annum.
Proposed re-appointment of Mr. Jeet Rajen Shah as Whole-time Director for 5 years with remuneration ceiling up to ₹72 Lakhs per annum.

💡 Eligible shareholders as of September 18, 2026, can participate in remote e-voting ending on September 22, 2026, and track the final voting results post-AGM.

S J Logistics Shifts Registered Office to Chembur, Mumbai Following ROC Approval

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 04:51 PM

S J Logistics (India) Limited has completed the statutory filings to shift its registered office from Thane (ROC Mumbai-II) to Chembur, Mumbai (ROC Mumbai-I) within Maharashtra. The company received Regional Director approval on August 19, 2026, and completed ROC filings on August 25, 2026. Its previous registered office at Centrum, Wagle Estate, Thane has now been designated as the Corporate Office. This is an administrative relocation with zero financial or operational impact.

Registered office shifted to Sabari Samriddhi Building, Chembur, Mumbai under ROC Mumbai-I jurisdiction
Regional Director approval order dated August 19, 2026; completed on August 25, 2026
Existing office in Thane designated as the Corporate Office
Company paid-up capital stands at Rs 15.82 Cr against authorised capital of Rs 30.00 Cr

💡 No action required. Investors should continue tracking the core logistics operational metrics and upcoming quarterly financial performance.

SJ Logistics Re-Appoints Kulshekhar Kumar as Whole-Time Director for 5 Years

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 07:07 PM

S J Logistics (India) Limited has approved the re-appointment of Mr. Kulshekhar Kumar as a Whole-Time Director for a second 5-year term commencing September 3, 2026. The re-appointment is subject to shareholder approval at the upcoming 23rd Annual General Meeting. Mr. Kumar has over 22 years of experience in sales and marketing, leading business development and operations for the company, which reported TTM revenue of Rs 942 Cr.

Re-appointment for a 5-year term starting from September 3, 2026 (or September 2, 2026 as noted in board details)
Subject to approval by shareholders at the 23rd Annual General Meeting
Mr. Kumar brings over 22 years of work experience in sales, marketing, and business development
Director is not related to any other director or Key Managerial Personnel (KMP)

💡 Track shareholder voting outcomes at the upcoming 23rd AGM regarding the re-appointment resolution.

S J Logistics Approves Re-Appointment of Whole-Time Director for 5 Years; AGM on Sep 23, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 06:26 PM

S J Logistics (India) Limited submitted a revised outcome of its Board Meeting held on August 24, 2026, correcting typographical/technical errors in an earlier submission. The Board approved the re-appointment of Mr. Kulshekhar Kumar as Whole-time Director for a 5-year term commencing September 2026, subject to shareholder approval. Additionally, the company scheduled its 23rd Annual General Meeting (AGM) for September 23, 2026, via video conferencing. NSDL has been appointed as the e-voting service provider, with CS Rushabh Doshi serving as scrutinizer.

Re-appointment of Mr. Kulshekhar Kumar as Whole-time Director for a second 5-year term starting September 2026
23rd Annual General Meeting (AGM) scheduled for Wednesday, September 23, 2026, at 4:00 PM
Board meeting held on August 24, 2026, commenced at 03:00 PM and concluded at 03:35 PM
Mr. Kulshekhar Kumar brings over 22 years of experience in sales, marketing, and business development

💡 Shareholders can review the draft 23rd AGM Notice and Annual Report for FY26 once published, and participate in the e-voting process conducted via NSDL ahead of September 23, 2026.

S J Logistics to Convene 23rd AGM on Sept 23, 2026; Re-appoints Whole-Time Director

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Aug 2026, 04:42 PM

S J Logistics (India) Limited held a board meeting on August 24, 2026, approving standard procedural items for its 23rd Annual General Meeting (AGM). The AGM is scheduled for Wednesday, September 23, 2026, at 4:00 PM via video conferencing. The board recommended the re-appointment of Mr. Kulshekhar Kumar as Whole Time Director, who retires by rotation and is eligible for re-appointment. Additionally, NSDL was appointed as the e-voting service provider and Mr. Rushabh Doshi as the scrutinizer.

23rd Annual General Meeting scheduled for September 23, 2026, at 4:00 PM via video conferencing
Recommended re-appointment of Mr. Kulshekhar Kumar as Whole Time Director (retiring by rotation)
Appointed NSDL as the e-voting agency and Mr. Rushabh Doshi as scrutinizer
Approved Annual Report and Board Report for FY 2025-26

💡 Track the release of the FY26 Annual Report and notice of AGM for detailed management commentary and operational guidance ahead of the September 23, 2026 meeting.

SJ Logistics Receives Approval to Shift Registered Office to Chembur, Mumbai

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 05:55 PM

S J Logistics (India) Limited has received approval from the Regional Director, RD Navi Mumbai, to shift its Registered Office within the state of Maharashtra. The jurisdiction shifts from ROC Mumbai-II (Navi Mumbai) to ROC Mumbai-I. The new registered office is located in Chembur, Mumbai, changing from its earlier address in Thane (West). The order is required to be filed with the Registrar of Companies within 30 days.

Approval granted by Regional Director via order dated August 19, 2026
Registered office shifted from Thane - 400604 to Chembur, Mumbai - 400071
Jurisdiction changed from ROC Mumbai-II to ROC Mumbai-I within Maharashtra
Company required to file the order with the ROC within 30 days

💡 This is a routine administrative change; monitor upcoming quarterly operational and financial results rather than procedural updates.

View All SJLOGISTIC Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Ocean Cargo revenue grew 12.8% to INR 243.5 Cr in H1 FY26 compared to INR 215.9 Cr in H1 FY25. The NVOCC division scaled from INR 2.1 Cr to INR 31.9 Cr, representing growth of over 1400% YoY.

Geographic Revenue Split

Not disclosed in available documents, though the company highlights a strategic focus on India-Brazil consignments for documentation services.

Profitability Margins

Gross margins are driven by 'Purchase of Services' which stood at INR 147.52 Cr (79.5% of standalone revenue) in H1 FY26. Net Profit After Tax (PAT) margin improved by 100 basis points to 11.4% in H1 FY26 from 10.4% in H1 FY25.

EBITDA Margin

EBITDA margin stood at 18.1% in Q2 FY26, representing a 391 basis point expansion YoY. Core profitability is driven by operational leverage as EBITDA grew 61.4% YoY to INR 28.4 Cr.

Capital Expenditure

Consolidated cash flow from investing activities showed an outflow of INR 21.25 Cr in H1 FY26, compared to INR 4.05 Cr in FY25, indicating increased investment in assets or technology.

Credit Rating & Borrowing

CRISIL noted a below-average financial risk profile with gearing at 4.36 times (historical). Finance costs rose 429% to INR 6.56 Cr in H1 FY26 from INR 1.24 Cr in H1 FY25 due to high working capital debt.

⚙️ Operational Drivers

Raw Materials

Purchase of Services (freight and shipping costs) represents 79.5% of standalone revenue (INR 147.52 Cr in H1 FY26).

Import Sources

Global shipping routes, with specific operational focus on India and Brazil for documentation and NVOCC services.

Capacity Expansion

Processed 5,000+ bills of lading in FY25. The company is expanding its NVOCC division and investing in technology-driven efficiency to support margin improvement.

Raw Material Costs

Purchase of services costs were INR 147.52 Cr in H1 FY26. Procurement strategies involve relationship-based business with shipping lines rather than long-term contracts.

Manufacturing Efficiency

Return on Capital Employed (ROCE) was 26.0% in FY25, up from 19.0% in FY23, reflecting improved capital efficiency.

📈 Strategic Growth

Expected Growth Rate

25.80%

Growth Strategy

Growth will be achieved through the scaling of the NVOCC division (which grew from INR 2.1 Cr to INR 31.9 Cr in H1 FY26), strategic geographic expansion into markets like Brazil, and investing in technology-driven efficiency to differentiate services.

Products & Services

Ocean Cargo forwarding, NVOCC services, Project Cargo handling, and documentation services including House Bill of Lading.

Brand Portfolio

S J Logistics (India) Limited.

New Products/Services

Scaling of NVOCC division and secure documentation services for India-Brazil consignments.

Market Expansion

Expansion of global reach through strategic alliances and a growing presence in international shipping routes.

Strategic Alliances

SJA Group includes SJIL, Opus Dei Logistics (India) Pvt Ltd, Micro Logistics (India) Pvt Ltd, and Gulf Orient Shipping LLP.

🌍 External Factors

Industry Trends

The industry is growing at approximately 25-26% YoY for the company, with a shift toward technology-driven efficiency and integrated supply chain solutions.

Competitive Landscape

Intense competition from numerous small and large players; business is conducted more on relationships than fixed contracts.

Competitive Moat

Moat is built on 33+ years of promoter experience and an established legacy since 2000. This relationship-based advantage is sustainable but faces pressure from low entry barriers.

Macro Economic Sensitivity

Highly sensitive to economic growth in India and abroad, as well as global trade volumes and government fiscal policies.

Geopolitical Risks

International operations are subject to global trade barriers and geopolitical stability in shipping corridors.

⚖️ Regulatory & Governance

Industry Regulations

Operations are affected by pollution norms, import/export restrictions, and government fiscal costs.

Taxation Policy Impact

Effective tax rate was approximately 22.2% in H1 FY26 (INR 9.24 Cr tax on INR 41.62 Cr PBT).

⚠️ Risk Analysis

Key Uncertainties

Working capital intensity and the ability to manage debt servicing are key risks, with CRISIL noting historical overdrawals in facilities for more than 30 days.