⚡ At a Glance
S J Logistics (India) Ltd just dropped its audited Q4 and FY25 results, and they’re shipping more than just cargo — they’re shipping massive YoY growth, global expansions, and new verticals like NVOCC and air freight.
- 🚀 FY25 Revenue up 85.5% to ₹50,249 lakh
- 💰 PAT up 132.1% to ₹5,249 lakh
- 📦 Q4 Revenue up 60%, EBITDA up 205%, PAT up 108%
- ✈️ Launched air cargo ops, with IATA accreditation
- 🌍 Expanded to Dubai and Libya, pushing international ops
- 🏗️ Project cargo and tyre exports boosting bottom line
CMP: ₹505.00 (🔻-0.18%) as of May 28, 2025 — flat on the chart, but fireworks in the results.
🏢 About the Company
| Field | Detail |
|---|---|
| Name | S J Logistics (India) Limited |
| CIN | L63000MH2003PLC143614 |
| Sector | Multimodal Logistics |
| Listed On | NSE (Symbol: SJLOGISTIC) |
| HQ | Thane, Maharashtra |
| Website | sjlogistics.co.in |
| Founded | 2003 |
| Global Presence | India, Singapore, UAE (Direct); Libya, Africa (via NVOCC) |
💸 FY25 Financial Performance
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Revenue (₹ Lakhs) | 50,249.0 | 27,086.0 | 🔼 85.5% |
| EBITDA | 7,539.1 | 2,943.3 | 🔼 156.1% |
| EBITDA Margin | 15.0% | 10.9% | ⬆️ 410 bps |
| PAT | 5,249.4 | 2,261.2 | 🔼 132.1% |
| PAT Margin | 10.4% | 8.3% | ⬆️ 210 bps |
| EPS (₹) | 35.76 | 20.03 | 🔼 78.5% |
Q4 FY25 Snapshot
| Metric | Q4 FY25 | Q4 FY24 | YoY Growth |
|---|---|---|---|
| Revenue | 14,172.7 | 8,854.0 | 🔼 60.1% |
| EBITDA | 2,326.0 | 762.3 | 🔼 205.1% |
| PAT | 1,483.6 | 712.2 | 🔼 108.3% |
| EPS (₹) | 10.11 | 6.31 | 🔼 60% |
Margins are expanding aggressively — something rare in logistics unless you’re either controlling a unique niche… or consolidating aggressively.
📦 Revenue Mix (Segment Performance FY24 vs FY25)
| Segment | FY25 (₹ Lakh) | FY24 (₹ Lakh) | YoY Growth |
|---|---|---|---|
| Ocean Cargo | 26,712 | 13,789 | 🔼 93.7% |
| NVOCC | 1,794 | 0 | 🌱 New division |
| Air Cargo | 1,426 | 0 | 🌱 New division |
| Others (Project Cargo, etc.) | 20,317 | 13,297 | 🔼 52.8% |
🔎 Air and NVOCC together made up 6% of FY25 revenue — not massive yet, but strategically crucial for global access.
✈️ What’s New in FY25?
- Air Cargo Ops — Post IATA approval, operations scaled across 8 airlines
- NVOCC Launch — First routes include Libya, UAE; base established in Dubai
- Project Cargo Expansion — Into ferro metal, tyre exports, and transmission towers
- Global Networks — Joined X2 and JCTrans, boosting international reach
- High-Value Shipping — Project cargo now dominating revenue mix (higher margin, slower billing)
📢 What the CMD Said
Mr. Rajen Shah (CMD) summed it up like a TED Talk on steroids:
“FY25 has been a transformative year. Margin expansion, global expansion, operational maturity — all are falling into place.”
He also subtly warned:
- Project cargo may inflate receivables due to staggered billing
- But also claimed: “superior margins offset the billing delay”
TL;DR: We’re now premium logistics, not just a freight forwarder.
🔍 EduInvesting Take
This is not a fluff SME story. This is real, operations-backed growth.
✅ Strong YoY performance across revenue, margins, and EPS
✅ Strategic expansion into global trade corridors
✅ Diversified verticals — ocean, air, project, NVOCC
✅ Consistent EBITDA and PAT margin expansion
✅ No suspicious, overly aggressive Twitter campaigns or stock spikes
But…
⚠️ Receivables and working capital should be closely tracked next year
⚠️ Revenue quality must be maintained — not just large-volume, delayed cash flows
⚠️ Execution in Dubai/Libya isn’t easy — geopolitical + FX risk
⚠️ Very asset-light model — fine in bull cycles, risky in trade slumps
🎯 Final Word
S J Logistics just delivered a full year of profit-backed, strategy-driven growth. In a market full of hyped logistics names with frothy multiples, SJL has quietly built a real, margin-expanding machine.
If they keep this up — and receivables don’t blow up — ₹505 may just be the boarding gate, not the landing strip.
📅 Published: May 29, 2025
✍️ By: Prashant Marathe
Tags: S J Logistics India, FY25 Results, Air Cargo Launch, NVOCC Expansion, Freight Forwarding, Dubai Operations, Logistics Multibagger, Project Cargo India, EduInvesting
