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Revenue
₹386 Cr
verification pending
Revenue YoY
96.8%
reported change
EBITDA
₹44 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Blue Water Logistics delivered a stellar Q4 FY26 with revenue surging 97% YoY to ₹386 crore, driven by strong demand across logistics verticals, expansion of asset base, and new customer additions. EBITDA grew 134% to ₹44 crore, with margins expanding 180bps to 11.4%, while PAT rose 135% to ₹25.2 crore. The ocean freight segment contributed ~70% of revenue, while air freight share jumped from 1% to 13% due to the Turkish Airlines partnership. Management guided for continued doubling of revenue in FY27, supported by planned expansion into Southeast Asia, dry containers, and project cargo. Margins are expected to improve further as higher-margin NVOCC (ISO tank) segment grows from 8% to 20% of revenue. Key risk: sharp spike in trade receivables (₹141 crore) due to Q4 billing, though management expects recovery within 60-90 days.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to double revenue in FY27, continuing the ~97% growth trajectory seen in FY26.
- The NVOCC segment (ISO tanks) is expected to grow from 8% to 20% of total revenue in FY27.
- Air freight segment share is expected to increase from 13% to 30% in FY27.
- Management plans to expand ISO tank fleet from 1,708 to over 5,000 within three years.
Risks flagged
- Receivables surged to ₹141 crore due to Q4 billing, with only 30-35% recovered by late May. High receivables could strain working capital if recovery slows.
- Ongoing tensions in the Strait of Hormuz could disrupt freight forwarding routes, though management claims minimal direct asset exposure.
- Doubling revenue annually requires rapid scaling of fleet, new geographies, and customer acquisition, which could pressure operational efficiency and margins.
Key quotes
- We are very confident of continuing the same growth what we had this current year. We are confident of achieving it next year also. The same kind of growth what we are seeing now.
- The disruption somewhere is creating opportunity somewhere else.
- We are giving end to end like picking cargo from the factory in India to delivering the cargo at consignee warehouse or place wherever they want. So that is make most of the activities are inhouse that is giving us the extra margin.
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