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TIGERLOGS - Tiger Logistics

📊 NSE: TIGERLOGS 🏢 Logistics Solution Provider 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Tiger Logistics Q3 Net Profit Drops 29.5% YoY to ₹5.94 Cr; MD Re-appointed for 5 Years

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Mar 2026, 11:26 AM

Tiger Logistics (India) Limited reported a weak performance for the quarter ended December 31, 2025, with revenue falling 13.4% YoY to ₹139.02 crore. Net profit for the quarter declined significantly to ₹5.94 crore, down from ₹8.42 crore in the previous year's corresponding quarter. The company clarified to the stock exchange that it operates under a single business segment, 'Logistics Services'. On a positive note for leadership stability, the board has approved the re-appointment of founder Harpreet Singh Malhotra as Chairman and Managing Director for a further five-year term.

Revenue from operations decreased to ₹13,902.45 lakhs in Q3 FY26 from ₹16,046.64 lakhs in Q3 FY25.
Net profit for the quarter stood at ₹593.77 lakhs, a decline of 29.5% YoY and 31.1% QoQ.
Total expenses for the nine-month period ended Dec 2025 were ₹38,963.28 lakhs compared to ₹40,067.24 lakhs YoY.
Mr. Harpreet Singh Malhotra re-appointed as Chairman & MD for a five-year term effective May 8, 2026.
Company officially confirmed single-segment operations in response to NSE regulatory clarification.

💡 Investors should be cautious as the company is experiencing a decline in both top-line and bottom-line growth on a YoY and QoQ basis. While management continuity is a positive, the cooling financial performance in the logistics sector warrants a closer look at margin pressures.

Tiger Logistics Reports 52% YoY Volume Growth in Q3 FY26 Driven by TiGreen Vertical

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 25 Feb 2026, 04:40 PM

Tiger Logistics reported a strong 52% year-on-year volume growth in Q3 FY26, despite a dip in revenue caused by historically low global freight rates under its cost-plus model. The TiGreen vertical, focusing on solar and renewable energy, has emerged as a primary growth engine, now contributing over 40% to total revenue. While the new LCL vertical, CUBOX, is currently at a break-even stage, the company is seeing significant traction in the pharma and chemical sectors following expansion in North India. Management remains bullish on future performance as solar companies plan major CAPEX and geopolitical trade tensions begin to stabilize.

Achieved 52% YoY and 9% QoQ growth in container volumes despite global geopolitical headwinds.
The TiGreen renewable energy vertical now accounts for more than 40% of the company's total revenue.
Revenue decline was primarily due to 'lowest ever' freight levels impacting the company's cost-plus pricing model.
Expansion into the North Indian pharma belt (Punjab, Haryana, Himachal) is yielding high export volumes.
Management aims to position the company among the top 5 to 7 logistics service providers in the Indian solar sector.

💡 Investors should focus on the robust volume growth and the scaling of the high-margin TiGreen vertical as key indicators of long-term value. A recovery in global freight rates would likely lead to a significant expansion in the top line given the current volume momentum.

Tiger Logistics Expands Gujarat Operations; Targets 40-45% Growth in Solar EXIM Volumes

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 23 Feb 2026, 05:32 PM

Tiger Logistics is strategically deepening its presence in Gujarat to capitalize on the state's dominant position in India's solar manufacturing sector. The company's renewable vertical, TiGreen, currently handles approximately 2,000 TEUs of solar containers monthly and expects volumes to grow by 40-45% over the next year. This expansion includes the appointment of a dedicated General Manager for the Gujarat region to manage high-volume corridors in Gandhidham and Ahmedabad. The move aligns with India's planned 94.5 GW solar cell capacity addition and government initiatives like the PM Surya Ghar Muft Bijli Yojana.

Projected 40-45% increase in solar EXIM volumes over the next 12 months.
TiGreen vertical currently manages up to 2,000 TEUs of solar container movements per month.
Gujarat accounts for 47% of India's module manufacturing and 49% of cell production capacity.
Appointment of a General Manager for the Gujarat Region to oversee Gandhidham and Ahmedabad operations.
Positioned to benefit from India's planned 94.5 GW of additional solar cell manufacturing capacity.

💡 Investors should track the company's ability to convert the 40-45% volume growth guidance into revenue and profit growth over the coming quarters. The focus on the high-growth renewable energy sector provides a strong thematic tailwind for this asset-light logistics player.

Tiger Logistics Expands Gujarat Operations; Projects 40-45% Growth in Solar EXIM Volumes

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 23 Feb 2026, 05:20 PM

Tiger Logistics is strategically expanding its presence in Gujarat to capitalize on the booming solar energy sector, which currently accounts for 47% of India's module manufacturing. The company's renewable vertical, TiGreen, currently manages approximately 2,000 TEUs of solar container movements monthly. Management expects these volumes to grow by 40-45% over the next year, driven by new leadership in the region and national solar schemes like PM Surya Ghar Muft Bijli Yojana. This expansion aligns with India's planned 94.5 GW increase in solar cell manufacturing capacity.

Projected 40-45% increase in solar EXIM volumes over the next 12 months.
TiGreen vertical currently handles 2,000 TEUs of solar container movements per month.
Strategic focus on Gujarat, which holds 47% of India's module and 49% of cell manufacturing capacity.
Appointment of a dedicated General Manager for the Gujarat region to oversee operations in Gandhidham and Ahmedabad.
Positioning to benefit from 94.5 GW of planned additional solar cell manufacturing capacity in India.

💡 Investors should monitor the realization of the projected 40-45% volume growth in the TiGreen vertical as a key performance indicator. The company's focus on the high-growth renewable energy logistics niche provides a strong competitive moat in the asset-light logistics space.

Tiger Logistics Proposes Re-appointment of CMD with ₹1.188 Cr Annual Remuneration

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 23 Feb 2026, 05:03 PM

Tiger Logistics has issued a postal ballot notice seeking shareholder approval for the re-appointment of Mr. Harpreet Singh Malhotra as Chairman & Managing Director for a five-year term starting May 8, 2026. The proposed annual remuneration is set at ₹1,18,80,000 (₹9.90 lakh per month), which the board states is within the 5% limit of net profits for a single MD. The e-voting period for this special resolution runs from February 24, 2026, to March 25, 2026. This move aims to ensure leadership continuity for the logistics firm through 2031.

Proposed re-appointment of Mr. Harpreet Singh Malhotra as CMD for 5 years from May 8, 2026, to May 7, 2031.
Revised annual remuneration fixed at ₹1,18,80,000 (₹1.188 Crore), equivalent to ₹9.90 lakh per month.
Remote e-voting period scheduled from February 24, 2026, to March 25, 2026.
The cut-off date for eligibility to vote is February 20, 2026.
The board confirms the remuneration is within the statutory 5% limit of net profits under Section 197.

💡 Investors should review the leadership's past performance against the proposed pay hike and cast their votes during the e-voting period ending March 25, 2026.

Tiger Logistics Releases Q3 & 9M FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 20 Feb 2026, 06:57 PM

Tiger Logistics (India) Limited has officially released the audio recording of its Q3 and 9M FY26 earnings conference call held on February 20, 2026. The management discussed the financial performance and operational highlights for the nine-month period ending December 31, 2025. This disclosure is part of the company's regulatory compliance under SEBI's Listing Obligations and Disclosure Requirements. The recording provides a platform for investors to hear management's perspective on the logistics sector's current landscape and the company's growth trajectory.

Earnings conference call for Q3 & 9M FY26 successfully conducted on February 20, 2026.
Management discussed financial results for the quarter and nine-month period ended December 31, 2025.
Audio recording link provided for public access on the company's official website.
Compliance maintained with Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 Investors should listen to the recording to understand management's guidance on future margins and volume growth in the international logistics segment.

Tiger Logistics Schedules Q3 & 9M FY26 Earnings Conference Call for February 20, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 17 Feb 2026, 03:44 PM

Tiger Logistics (India) Limited has announced its earnings conference call scheduled for Friday, February 20, 2026, at 4:00 PM IST. The management, led by Chairman & Managing Director Mr. Harpreet Singh Malhotra, will discuss the unaudited financial results for the third quarter and nine-month period ending December 31, 2025. The session will include a management discussion on performance followed by an interactive Q&A for analysts and investors. This is a routine but essential event for stakeholders to understand the company's growth trajectory in the logistics sector.

Earnings call scheduled for February 20, 2026, at 4:00 PM IST to discuss Q3 & 9M FY26 results.
Management to address performance for the period ending December 31, 2025.
Chairman & Managing Director Mr. Harpreet Singh Malhotra will lead the discussion.
Dial-in details provided for universal access and international participants from USA, UK, HK, and Singapore.
Investor presentation and press release to be made available on the company website post-results.

💡 Investors should attend the call to gain insights into the company's operational efficiency and future guidance. Key areas to watch include volume growth in freight forwarding and updates on digital platform initiatives.

Tiger Logistics Q3 FY26: TEU Volumes Surge 52% YoY Despite 29.5% PAT Decline

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 04:37 PM

Tiger Logistics reported a significant 52.2% YoY growth in ocean freight volumes (TEUs) for Q3 FY26, reaching 25,433 units. However, quarterly revenue declined 13.4% YoY to ₹13,902 lakhs, and PAT fell 29.5% YoY to ₹594 lakhs, primarily due to competitive freight realizations and higher finance costs. For the nine-month period (9M FY26), EBITDA margins showed resilience, improving to 6.0% from 5.6% in the previous year. The company is actively diversifying its client base, with top 5 customer concentration dropping from 60% to 49% YoY.

Ocean freight volumes (TEUs) grew 52.2% YoY to 25,433 in Q3 FY26, while 9M volumes rose 32.3% YoY.
Q3 FY26 Revenue decreased 13.4% YoY to ₹13,902 lakhs, and PAT dropped 29.5% YoY to ₹594 lakhs.
9M FY26 EBITDA margins improved to 6.0% from 5.6% YoY, reflecting better operational efficiency despite revenue pressure.
Top 5 customer revenue concentration reduced significantly to 49% in Q3 FY26 from 60% in Q3 FY25.
Sanctioned working capital limits increased to ₹37 crore in 9M FY26 to support growing volume requirements.

💡 Investors should monitor if the strong volume growth eventually translates into bottom-line recovery as freight rates stabilize. The reduction in customer concentration and the launch of FreightJar 2.0 are positive long-term indicators, but near-term margin pressure warrants caution.

Tiger Logistics Q3 PAT Drops 29.5% YoY to ₹5.94 Cr Amid Global Freight Rate Softening

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 04:30 PM

Tiger Logistics reported a weak Q3 FY26 with revenue declining 13.4% YoY to ₹139.02 crore, primarily due to external headwinds like US tariffs and geopolitical tensions in the Middle East. Despite the revenue drop, the company achieved a significant 52% YoY growth in TEU volumes, suggesting strong operational demand. However, net profit for the quarter fell 29.5% YoY to ₹5.94 crore as freight realizations normalized from earlier elevated levels. For the nine-month period, EBITDA margins showed resilience, improving to 6.0% from 5.6% in the previous year.

Q3 FY26 Revenue stood at ₹13,902.5 lakhs, down 13.4% YoY and 17.6% QoQ.
Net Profit (PAT) for the quarter declined 29.5% YoY to ₹593.8 lakhs with a margin of 4.3%.
TEU volumes grew robustly by 52% YoY in Q3 and 32% YoY for the 9M FY26 period.
9M FY26 EBITDA increased 3.6% YoY to ₹2,460.6 lakhs, with margins improving to 6.0%.
Performance was impacted by US-Iran geopolitical developments and a moderation in global freight rates.

💡 Investors should weigh the strong 52% volume growth against the sharp decline in profitability caused by lower freight realizations. While the asset-light model provides resilience, the stock may remain under pressure until global freight rates and geopolitical conditions stabilize.

Tiger Logistics Q3 Net Profit Drops 29.5% YoY to ₹5.94 Cr; CMD Re-appointed for 5 Years

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 03:52 PM

Tiger Logistics reported a weak performance for Q3 FY26, with revenue from operations declining 13.4% YoY to ₹139.02 crore. Net profit for the quarter saw a sharper decline of 29.5% YoY, falling to ₹5.94 crore from ₹8.42 crore in the same period last year. On a sequential basis, revenue and profit also dipped significantly compared to Q2 FY26. Amidst the results, the board approved the re-appointment of founder Harpreet Singh Malhotra as Chairman & Managing Director for a five-year term starting May 2026.

Revenue from operations decreased 13.4% YoY to ₹139.02 crore in Q3 FY26
Net profit for the quarter fell 29.5% YoY to ₹5.94 crore from ₹8.42 crore
9-month FY26 revenue stands at ₹410.27 crore compared to ₹421.80 crore in 9M FY25
Earnings Per Share (EPS) for the quarter declined to ₹0.58 from ₹0.81 YoY
CMD Harpreet Singh Malhotra re-appointed for a 5-year term effective May 8, 2026

💡 Investors should exercise caution as the company faces both top-line and bottom-line pressure; monitor management's commentary on logistics volume recovery in upcoming quarters.

Tiger Logistics Receives RBI Notice for FEMA Contravention on Valuation Reporting

🔵 WATCH ⭐ 6/10

REGULATORY 📅 04 Feb 2026, 04:53 PM

Tiger Logistics (India) Limited has received a communication from the Reserve Bank of India (RBI) regarding a contravention of FEMA regulations. The issue pertains to the non-submission of a valuation report for an overseas disinvestment transaction as required under Notification No. 120/RB-2004. The RBI has advised the company to apply for compounding under Section 15 of FEMA within a 45-day window. While the company is initiating the compliance process, the specific financial impact in terms of penalties is currently unascertainable.

RBI letter dated February 03, 2026, cites non-compliance with FEMA Notification No. 120/RB-2004.
The violation involves missing post-disinvestment valuation reporting requirements for overseas investments.
Company has been granted 45 days to file a compounding application with prescribed fees.
Management states no immediate ascertainable financial or operational impact at this stage.

💡 Investors should monitor the company's progress on the compounding application and the eventual penalty amount. This appears to be a procedural compliance lapse rather than a fundamental business risk.

Tiger Logistics Clarifies Q2 FY26 Financial Filing Discrepancies to NSE

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 02 Feb 2026, 12:24 PM

Tiger Logistics (India) Limited has responded to a clarification sought by the National Stock Exchange regarding its financial results for the quarter ended September 30, 2025. The exchange had raised concerns regarding the legibility of the PDF results, missing segment details, and XBRL data discrepancies. The company clarified that it had already submitted a revised XBRL filing on November 28, 2025, which addressed these issues. This filing confirms the company operates in a single logistics segment and has rectified the half-yearly figure discrepancies in the electronic format.

NSE sought clarification on January 13, 2026, regarding Regulation 33 compliance for Q2 results.
Company confirmed that segment details were updated to 'Single Segment (Logistics)' in the revised XBRL.
Revised XBRL filings addressing half-yearly figure discrepancies were submitted on November 28, 2025.
The company provided an NSE acknowledgement (App No: 129704) for the revised submission dated January 14, 2026.

💡 This is a routine procedural clarification regarding filing formats and does not impact the company's business fundamentals. Investors should focus on the actual financial performance reported in the Q2 results.

Tiger Logistics Submits SDD Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 20 Jan 2026, 06:56 PM

Tiger Logistics (India) Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended December 31, 2025. This filing confirms the company's adherence to SEBI's Prohibition of Insider Trading (PIT) Regulations. The company reported that one specific UPSI event occurred during the quarter and was duly recorded in the database. The system is maintained internally, is non-tamperable, and retains an audit trail for 8 years to ensure transparency.

Compliance with Regulation 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
One UPSI (Unpublished Price Sensitive Information) event was captured during the quarter ended December 31, 2025.
The Structured Digital Database is maintained internally with a non-tamperable audit trail capability.
The system ensures record maintenance for a mandatory period of 8 years.
No non-compliances were observed or reported for the quarter.

💡 No action is required as this is a routine regulatory filing. It serves as a positive indicator of the company's internal governance and compliance with insider trading norms.

Tiger Logistics Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Jan 2026, 01:43 PM

Tiger Logistics (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Private Limited, covers the quarter ended December 31, 2025. It confirms that share certificates received for dematerialization were processed and the depositories' names were updated in the company's records. This is a standard administrative filing required for all listed entities to ensure the integrity of shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Issued in accordance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
Bigshare Services Private Limited confirmed as the Registrar and Share Transfer Agent (RTA).
Confirms that security certificates were mutilated and cancelled after due verification for dematerialization.

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's operational performance and upcoming quarterly financial results.

Tiger Logistics to Close Trading Window from Jan 1, 2026, for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Dec 2025, 03:40 PM

Tiger Logistics (India) Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the official declaration of the quarterly financial results. The company will announce the specific date for the board meeting to approve these results in due course.

Trading window closure commences on January 1, 2026
Closure pertains to the financial results for the quarter ending December 31, 2025
Window to remain closed until 48 hours post-result declaration
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 This is a routine regulatory filing and requires no immediate action from retail investors. Monitor for the upcoming board meeting date to assess the company's Q3 financial performance.

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💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, revenue reached INR 168.73 Cr, growing 64.6% QoQ and 5.3% YoY. H1 FY26 revenue stood at INR 271.25 Cr, up 3.8% YoY. Yearly revenue composition for FY25 was led by Engineering (30%), Auto (15%), FMCG (7%), Pharma (5%), Commodities (3%), and Textiles (1%), with Others at 48%.

Geographic Revenue Split

The company is expanding its import logistics footprint from China and Southeast Asia. It also targets emerging markets in Africa and LATAM for Indian exports of auto components, tires, and machinery. Specific regional percentage splits are not disclosed in available documents.

Profitability Margins

Q2 FY26 PAT margin was 5.1%, improving by 52 bps QoQ and 40 bps YoY. H1 FY26 PAT margin was 4.9%, up 26 bps YoY. Profitability is driven by disciplined cost control and effective operating leverage as volumes scale.

EBITDA Margin

EBITDA margin for Q2 FY26 was 6.6%, an improvement of 85 bps QoQ and 111 bps YoY. H1 FY26 EBITDA margin was 6.3%, up 94 bps YoY. Absolute EBITDA for Q2 FY26 was INR 11.14 Cr, up 88.9% QoQ and 26.7% YoY.

Capital Expenditure

The company operates an asset-light model. Net block of fixed assets was INR 8.7 Cr in FY25, compared to INR 8.8 Cr in FY24. Historical net block has remained stable between INR 7.5 Cr and INR 8.8 Cr from FY21 to FY25.

Credit Rating & Borrowing

Infomerics upgraded the long-term rating to IVR A- (Stable) and short-term to IVR A2+ in August 2025. CARE Ratings maintained a CARE B; Stable (Issuer Not Cooperating) rating as of October 2025. Sanctioned working capital limits for H1 FY26 totaled INR 37 Cr (SBI: 23.5 Cr, IDBI: 3.5 Cr, ICICI: 10.0 Cr).

⚙️ Operational Drivers

Raw Materials

As a service provider, primary costs are 'Cost of Services' including Ocean Freight (major revenue driver) and Air Freight, representing the bulk of operational expenses.

Import Sources

Key import corridors include China and Southeast Asia, which the company leverages for multimodal import solutions.

Key Suppliers

The company collaborates with multiple global shipping lines and airlines to provide end-to-end freight management services via its FreightJar platform.

Capacity Expansion

Operational capacity is measured by volume; Q2 FY26 TEU volume was 23,334 units, up 39% YoY from 16,781 units. H1 FY26 volume reached 41,590 TEUs, up 22.4% YoY from 33,967 TEUs.

Raw Material Costs

Freight costs are subject to global rate volatility. The company uses an asset-light approach to mitigate fixed cost risks and employs natural hedging and forward contracts to manage foreign currency cost fluctuations.

Manufacturing Efficiency

Not applicable as the company is a service-based logistics provider; efficiency is measured by operating leverage and EBITDA margin improvements.

Logistics & Distribution

Distribution is managed through global partnerships; the company focuses on corridor expansion and sector specialization to drive value.

📈 Strategic Growth

Expected Growth Rate

8.8%

Growth Strategy

Growth is driven by 'Digital Play' through FreightJar 2.0 (reducing costs by ~30%), 'Green Logistics' via an EV division for first-mile delivery, and horizontal expansion into B2B LCL segments through CUBOX. The company also targets the renewable energy sector (TiGreen) to support India's 500 GW goal by 2030.

Products & Services

Ocean and air freight forwarding, project logistics, customs clearance, trade compliance, supply chain consulting, cold chain logistics, and warehousing.

Brand Portfolio

Tiger Logistics, FreightJar 2.0, TiGreen, CUBOX.

New Products/Services

FreightJar 2.0 (digital platform), TiGreen (renewable energy logistics), and CUBOX (B2B LCL consolidation).

Market Expansion

Expanding footprint in China, Southeast Asia, Africa, and LATAM to capture emerging EXIM corridors.

Market Share & Ranking

Not disclosed in available documents; company identifies as a prominent global logistics firm with over 25 years of experience.

Strategic Alliances

Maintains IATA accreditation and collaborates with global shipping and airline partners; associated with various NGOs for social initiatives.

🌍 External Factors

Industry Trends

The Indian logistics market is evolving through digitalization (e-documentation, AI) and formalization driven by GST enforcement and mandatory e-invoicing, favoring organized players like Tiger Logistics.

Competitive Landscape

Fragmented industry with intense competition from both domestic players and large global logistics firms.

Competitive Moat

Moat is built on an asset-light model providing cost flexibility, 25+ years of sectoral expertise, and a proprietary digital platform (FreightJar) that enhances client retention through transparency.

Macro Economic Sensitivity

Highly sensitive to global trade volumes and manufacturing demand. Benefits from the National Logistics Policy and PM Gati Shakti which improve multi-modal coordination.

Consumer Behavior

Large corporations are increasingly preferring logistics partners with strong sustainability (Green Logistics) and digital visibility capabilities.

Geopolitical Risks

Red Sea crisis and trade protectionism are primary risks that disrupt established trade routes and increase operational costs.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with ISO 9001:2008 standards and IATA accreditation. Operations are influenced by GST enforcement and mandatory e-invoicing norms.

Environmental Compliance

Investing in 'Green Logistics' and an EV division to align with corporate sustainability goals and renewable energy targets.

Taxation Policy Impact

Subject to standard corporate tax rates; PAT of INR 27.01 Cr was reported for FY25 on a standalone basis.

⚠️ Risk Analysis

Key Uncertainties

Global demand moderation, oil price volatility, and cybersecurity threats associated with increased technology adoption.

Geographic Concentration Risk

Headquartered in Delhi with a nationwide presence in major hubs like Mundra, Chennai, Ludhiana, and Kolkata; expanding internationally to reduce regional dependency.