AVG Logistics LimitedLogistics & TransportationAVG
Q1 FY27 concall · earnings callAVG Logistics Limited
AVG Logistics delivered stronger profit growth than revenue in Q1, fueled by operational efficiencies and asset utilization, while expanding into higher-margin specialized logistics and securing new long-term contracts.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue from Operations | ₹132.48 Cr | 5.97% | |
| PAT | ₹6.46 Cr | 29.98% | |
| PBT Margin | 6.58% | 98 bps | |
| PAT Margin | 4.87% | 89 bps |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹142.44 Cr+14.2% YoY+2.9% QoQ | ₹5.51 Cr+14.8% YoY+2.4% QoQ | ₹3.81-6.6% YoY-3.3% QoQ |
| Q2 FY25 | ₹138.46 Cr+17.9% YoY+12.7% QoQ | ₹5.38 Cr+212.8% YoY+3.3% QoQ | ₹3.94+169.9% YoY+3.4% QoQ |
| Q1 FY25 | ₹122.91 Cr+22.5% YoY-10.3% QoQ | ₹5.21 Cr+105.9% YoY-77.2% QoQ | ₹3.81+77.2% YoY-80.1% QoQ |
| Q4 FY24 | ₹136.95 Cr— YoY+9.8% QoQ | ₹22.87 Cr— YoY+376.5% QoQ | ₹19.10— YoY+368.1% QoQ |
| Q3 FY24 | ₹124.77 Cr— YoY+6.3% QoQ | ₹4.80 Cr— YoY+179.1% QoQ | ₹4.08— YoY+179.5% QoQ |
TL;DR
- Revenue grew 5.97% YoY to INR 132.48 crores while PAT jumped 29.98% to INR 6.46 crores.
- Management expects 15% to 20% revenue growth for FY27, driven by new contracts and existing customer expansion.
- Secured a long-term contract from Haldiram for 100 dedicated vehicles, with potential for another 100 vehicles.
- Expanding into specialized, higher-margin segments like liquid logistics, EVs, and LNG through a JV (Carbonlite Logistics).
- Raised INR 52.93 crores via a rights issue to strengthen working capital and support growth plans.
Said on the call
“The opportunity in Indian logistics is large and AVG is building the capability to capture a larger share of it.”
From the Q&A
| Topic | What management said |
|---|---|
| FY27 Revenue Growth Outlook | Management expects 15% to 20% revenue growth for the year, with about 7-8% from new business and 8-10% from existing customers. |
| Capital Raise (Rights Issue) Impact | The INR 52.93 crore rights issue strengthens working capital but a specific revenue/PAT number from it cannot be given; overall growth is expected from new contracts and better fleet utilization. |
| Haldiram Contract Details | The contract is for 100 dedicated vehicles; 40 deployed as of August 21, 2026, with the remaining 60 expected within 1-2 months. Haldiram has asked for an additional 100 vehicles by December 2026. |
| FY27 Capex and Fleet Addition Plans | Targeted capex is INR 50-60 crores for FY27, with additional fleet needs met via leasing, especially for EVs. The total target is to add around 200 vehicles in FY27. |
| Higher-Margin Business Segments | Better margins are seen in dedicated vehicles, cold chain, reefer trucks, warehousing, and the new LNG, EV, and liquor logistics segments due to specialized nature and lower operational costs. |
| In-house Technology & JV Progress | The in-house software provides real-time vehicle tracking and customer dashboards, improving asset utilization. The JV with Baidyanath Group (Carbonlite Logistics) is formalized and aims to start operations from October 1, 2026. |
Guidance
- Management has set an objective of approximately 15% to 20% revenue growth for FY27.
- Targeting capex of around INR 50-60 crores for FY27, with additional fleet via leasing.
- Aims to add around 200 vehicles in FY27 across CNG, LNG, and EV segments.
Source
Summary written from the transcript filed by AVG Logistics Limited for the call held on 26 Aug 2026; published 1 Sept 2026, 16:28 IST.
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