AVG Logistics Ltd Q2 FY26 Results – Trucks, Trains & Trouble in Transit: ₹143 Cr Revenue, ₹5 Cr Profit, and 55-ton Electric Dreams

1. At a Glance

Ladies and gentlemen, welcome aboard the AVG Logistics express — where trucks, trains, warehouses, and WiFi-enabled reefer vans all merge into one slightly chaotic but undeniably ambitious logistics circus. In Q2 FY26, the company clocked ₹143 crore in revenue and ₹5.02 crore in PAT, which means your average highway dhaba sold more chai than the net profit margin here (a cool 3.5%).

The stock currently trades at ₹181, well below its 52-week high of ₹440, implying investors’ enthusiasm might have run out of diesel. With a market cap of ₹272 crore, P/E ratio of 13.1, and book value of ₹171, it’s priced just above its accounting homework. Return on equity sits at 9.57%, while ROCE is 12.6% — not shabby for a logistics firm still paying off its vehicle EMIs.

In short: one of India’s more organized chaos stories — big dreams, smaller profits, massive trucks, and 45.3% promoter pledge (because who doesn’t love a bit of suspense in financials?).

2. Introduction

If Bollywood made a logistics movie, AVG Logistics Ltd would be its hero — driving through India’s dusty highways with Maruti Suzuki parts in the back and electric truck dreams in the front.

Born in 2010 and listed in 2021, AVG is one of those rare logistics players that tries to do everything — road, rail, cold chain, warehousing, and even packers & movers. It’s like Swiggy, Delhivery, and the Indian Railways decided to share an Excel sheet.

But FY26 hasn’t been all smooth highways. The company saw its net profit dip 6% QoQ even as revenue crept up 3%. Still, AVG’s management insists it’s building for the long haul — literally — with ₹112 crore earmarked for capex and partnerships that range from Blue Energy Motors (for LNG trucks) to India Post (for courier operations).

And just when you thought logistics couldn’t get sexier — they became the first company in India to deploy 55-ton electric trucks at Tata Steel’s plants. Electric trucks hauling iron. The irony writes itself.

3. Business Model – WTF Do They Even Do?

So, what does AVG actually do, besides putting more GPS trackers than humans on the road?

They operate across four main verticals:

• Multimodal Transport: Over 3,000 trucks (owned and hired), plus six dedicated railway routes. Think of it as “Transport Tetris” — matching goods to trucks, trains, and occasionally, divine intervention.
• Cold Chain Logistics: 400+ reefer vehicles for perishable items — basically moving refrigerators on wheels. Real-time IoT monitoring ensures your paneer doesn’t die before reaching the supermarket.
• Warehousing: 8.5 lakh sq. ft. under management across India — half owned, half leased, all allegedly “IoT enabled.” A new 50,000 sq. ft. warehouse in Agartala is under construction, because why not add another pin to the map?
• Value-Added Services: From packing and customs clearance to e-commerce logistics and zero-residue tankers for liquid movement. Also, they recently launched Galaxy Packers & Movers, because apparently India still needs more people to move your furniture and your emotions.

Add to that the international business in Nepal and Bangladesh, and you have a company that’s as pan-subcontinental as Indian weddings.

4. Financials Overview

Let’s get the numbers on the road (and the rails).

Commentary:
Revenue grew slightly, but profits deflated like a truck tire on NH8. OPM held steady at