Om Freight Forwarders Ltd Q2 FY26 – The 3PL Powerhouse That Just Hit the Logistics Express Lane (₹1,143 Mn Quarterly Sales, ₹73 Mn H1 PAT, EV/EBITDA 7.18x)
1. At a Glance
Mumbai’s logistics legacy family just went public — and Om Freight Forwarders Ltd is already flexing its 3PL muscles like a gym rat on IPO steroids. With a market cap of ₹303 crore, a current price of ₹90.1, and a P/E of 14.2x, the Joshi family’s three-generation logistics empire is steering India’s cargo madness with surprising efficiency. In Q2 FY26, the company clocked ₹1,138.36 million in revenue and a PAT of ₹38.8 million, showing a bit of a speed bump (down 7.4% QoQ) after its IPO debut. But with a low debt-to-equity ratio of 0.15, an interest coverage ratio of 12.4x, and ROCE in the mid-teens, Om Freight looks like that one truck driver who still manages to hit every green light.
They handle over 66.86 million tonnes of cargo and 109,914 TEUs annually across 800+ global destinations, operating with a hybrid fleet of 135 vehicles, including everything from cranes to a 7,823-tonne vessel. In other words — they’re India’s “Dabbawala of Logistics,” only with bigger wheels and fewer tiffins.
2. Introduction
India’s logistics scene has always been like a family WhatsApp group — crowded, messy, but somehow functional. Amidst this chaos, Om Freight Forwarders has quietly built a pan-India network spanning 28 branches and handling end-to-end freight forwarding, customs clearance, vessel agency, and warehousing.
Founded in 1995, this third-generation family-run enterprise decided 2025 was the perfect time to hit the stock markets, raising ₹122 crore through an IPO. And unlike your average flashy tech IPO, this one didn’t promise “AI-driven freight optimisation” or “metaverse shipping.” Nope. They raised ₹24.5 crore simply to buy more trucks, cranes, and forklifts. Pragmatic, grounded, and refreshingly unpretentious — that’s Om Freight for you.
Despite a QoQ drop in sales and profit in Q2 FY26, their fundamentals look solid. Their sales in FY25 stood at ₹490 crore, with PAT of ₹21.6 crore and EPS of ₹6.79. Their five-year sales growth has been a monster — 43.8% CAGR, and profit growth over 30.3% CAGR in three years. And yet, the promoters, after listing, have trimmed their holding by 26.9%, still retaining 72.2%, keeping the reins firmly in family hands.
The best part? They’ve got zero pledges, no dividend nonsense, and a brand-new warehouse coming up in Bhiwandi to expand their logistics fortress.
3. Business Model – WTF Do They Even Do?
Om Freight Forwarders is not just another transport company moving boxes. Think of them as the travel agents of cargo — arranging your shipment’s entire “world tour” with seamless transitions from sea to road to air to rail.
Here’s the logistics buffet they serve:
Freight Forwarding (52% of revenue) – Coordinating global shipments via sea and air, including FCL/LCL consolidation, documentation, and compliance. Basically, the logistics equivalent of Air Traffic Control.
Customs Clearance (17.5%) – They deal with paperwork so you don’t have to — import/export documentation, port coordination, and tax headaches included.
Vessel Agency (14.5%) – They even handle a 7,823-tonne cargo vessel, managing berthing, crew, and port logistics.
Transportation (10%) – Multimodal, specialized heavy cargo, and even over-dimensional freight — imagine moving turbines, not Tupperware.
Warehousing & Value-Added Services (6%) – Their bonded Uran warehouse (10,662 sq. ft.) manages packaging, cross-docking, and automation.
Industries served? Practically everything from steel (26.5%), EPC, coal, automotive, FMCG, to chemicals (45%). Their client list of 1,715 in FY25, with 75% repeat customers, screams operational reliability.
In short, Om Freight is like the Uber of cargo — only they own their vehicles, actually deliver on time, and don’t cancel on you five minutes before pickup.
