AVG Logistics Ltd — Q3 FY26
AVG Logistics reported Q3 FY26 revenue of ₹134.08 crore with EBITDA of ₹27.20 crore (margin 20.29%) and PAT of ₹5.40 crore.
neutral
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
50%Questions answered4Evaded / deflected12Questions auditedContradictedNumbers vs filing
Partial answer
High priority
Which segment is most profitable: liquid logistics or cold chain?
Asked by Abhishek Sharma, Sharma Investment
Management said both have better margins but did not rank them or give numbers.
did not specify which is most profitablevague comparison
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Question
which segment is like currently the most profitable for us from the like liquid logistics or cold chain logistics?
Management (unnamed)
the profit margin and less competition in the liquid logistics and cold chain. So now we are trying to we have brought two trains from imported import of banker which we service are liquid logistics and coin business is also increasing
Answered
High priority
How are margins in the warehousing segment?
Asked by Abhishek Sharma, Sharma Investment
Provided a specific margin range.
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Question
how are margins in this uh warehousing segment?
Management (unnamed)
margin is around 25 to 30%.
Evasive
Medium priority
How should shareholders think about stock performance over 3-4 years?
Asked by Abhishek Sharma, Sharma Investment
Did not address stock performance; discussed business growth instead.
no stock price guidancegeneric growth narrative
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Question
how should like shareholders think about companies stock performance over uh like let's just say next three four years like for a long term how should we think about it?
Management (unnamed)
we are doing hard working and trying my best to increase the business and uh in different different segment and uh like cold chain, supply chain management, rail business.
Evasive
High priority
What is capex budget for FY27 and returns on incremental assets?
Asked by Pria Jen, Green Capital
Did not provide a capex budget or return on assets.
no capex number givenno return projection
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Question
what is our budget for 27 for capex and what returns do you project on incremental assets?
Management (unnamed)
we are adding the fleet and capex according to the customer requirement because just as our customers are increasing their business by 10% or 7% so we are adding 7 to 8% business
Answered
High priority
What is current fleet utilization and how to improve it?
Asked by Pria Jen, Green Capital
Provided a specific utilization percentage.
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Question
what is current fleet utilization and how do you plan to improve it?
Management (unnamed)
my fleet utilization is around 97 to 98%. Because few vehicles are always in breakdown out of 900 vehicle we have.
Evasive
Medium priority
How do you see valuation going up in 3-5 years?
Asked by Pria Jen, Green Capital
Did not address valuation; gave revenue growth expectation.
no valuation discussiongave revenue growth instead
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Question
how do you see this valuation going up in next 3 to 5 years?
Management (unnamed)
we are definitely 15 to 20% growth we are expecting year only business.
Evasive
High priority
What client wins or contracts will drive 15%+ growth in FY27?
Asked by Mahade, BY Capital
Did not name any client wins or contracts.
no specific client namesno contract details
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Question
what specific client wins or contracts will drive 15% plus growth in FY27 as suggested by the man from very beginning.
Management (unnamed)
we are now talking to the customer to with the own fleet and this is increasing our capex but we are getting the long-term contract of 5 to 8 years.
Partial answer
High priority
What is the revenue target for FY26?
Asked by Mahade, BY Capital
Gave a range but not a firm target.
range given, not a precise target
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Question
can you also suggest a revenue target of the company for FI26?
Management (unnamed)
last year was 550. Maybe 560 570 group.
Partial answer
Medium priority
What is current capacity utilization across railroads?
Asked by Vidi Jen, Phoenix Capital
Gave a non-standard utilization figure that may not be comparable.
over 100% is confusingnot a standard utilization metric
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Question
could you please share the current capacity utilization across your railroads like specifically what percentage of your rack capacity is currently deployed versus available?
Management (unnamed)
Delhi Bangalore is around more 105%. And 105% means we are sending the material from one place to another place and from another place to final destination also hence it is becoming 105%.
Partial answer
Medium priority
How does mix of owned vs partner vehicles improve flexibility?
Asked by Vidi Jen, Phoenix Capital
Gave the mix but did not directly answer how it improves flexibility.
did not explain how mix improves flexibility
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Question
how does the mix of own versus partner vehicle like fleets improve flexibility during the demand cycle?
Management (unnamed)
we are around 40 45% with on on fleet and 55% is the market fleet.
Answered
High priority
How does management see revenue growth trajectory over 3-4 years?
Asked by Kat Sha, Shah Ventur
Provided a clear growth expectation.
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Question
how does the management see the company's revenue growth trajectory over the next 3 to four years.
Management (unnamed)
organic growth it is around 15 to 20% year-on-year basis.
Answered
High priority
What is current overall capacity utilization across multi-model operations?
Asked by Sakshi Shandai, Shaha Consultancy Limited
Provided a specific utilization range.
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Question
what is the current overall capacity utilization across your multi-model operations?
Management (unnamed)
It is around 95 to 97 98%.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Warehousing margin is 25 to 30% | 27.5% | 20.29% | Overstated vs filing |
| Revenue for FY26 expected 560-570 cr | ₹565 cr | ₹134.08 cr | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.