Opening Hook Some politicians play musical chairs, S J Logistics plays “musical containers.” With ships docking from Nhava Sheva to Novorossiysk, the company pulled off a 24.9% YoY revenue surge to ₹125.76 crore (Q1 FY26 presentation). In a quarter where global trade headlines screamed “geopolitics” louder than a college debate, S J quietly expanded margins by 370 bps. Why it matters? Because in logistics, even a small margin lift is like getting an upgrade from 2G to 5G overnight. And yes, they’ve leased 2,500 containers already—aiming for 5,000 by year-end—without burning capex. Stick around, because this call had more drama than a K-drama shipping accident.
At a Glance
Revenue up 24.9% – Not inflation, actual cargo moved.
EBITDA up 57.2% – CFO swears it’s not “Excel jugaad.”
PAT up 32.9% – Containers aren’t the only thing scaling.
Ocean freight still king – 21.5% YoY growth keeps the ship steady.
Air cargo & NVOCC – Together 6.6% of topline, double century in % growth.
Debt at ₹25 cr – With plans to inch up to ₹45–50 cr. Still asset-light, still smug.
Management’s Key Commentary
“Revenue grew 24.9% to ₹125.76 crore” – Translation: We charged clients more and they actually paid.
“PAT margin improved to 11.3%” – Translation: Even the taxman looked impressed.
“Air cargo contributed ₹4.11 crore, NVOCC ₹4.21 crore” – Translation: Small kids, but they run fast.
“We target 35–40% topline growth this year” – Translation: Set bar high, pray for calm seas.
“PAT margin goal is 12–13%” – Translation: We’re squeezing costs like toothpaste.
“2,500 containers today, 5,000 by year-end” – Translation: Netflix’s Money Heist cast also jealous of our inventory.
“No big capex planned” – Translation: We’re still allergic to buying assets.
Numbers Decoded
Metric
Q1 FY26
YoY Growth
Tagline
Revenue – The Hero
₹125.76 cr
+24.9%
Growth without steroids.
EBITDA – The Sidekick
₹22.22 cr
+57.2%
CFO’s moment of glory.
Margins – The Drama Queen
17.7% vs 14.0%
+370 bps
From side-hustle to showstopper.
Analyst Questions
Q: Is Q1 seasonal? A: “First quarter is always weaker.” Translation: Don’t panic, Q4 is the hero.
Q: Exports dip to US? A: “We ship to Latin America, not Uncle Sam.” Translation: Brazil > Boston.
Q: Margin difference between yarn vs project cargo? A: Yarn 12–15%, project
