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Revenue
₹114 Cr
verified against source
Revenue YoY
72%
reported change
EBITDA
₹14.1 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Exim Routes reported a strong FY26 with revenue surging 72% YoY to ₹207 crore, driven by volume expansion (90%+ of growth) as monthly tonnage nearly doubled. EBITDA grew 38% to ₹14.1 crore, but margin compressed 170bps to 6.8% due to higher freight costs from a deliberate shift to UK/European sourcing and elevated oil prices. PAT rose 35% to ₹10.2 crore. The company guided FY27 revenue of ₹300 crore (30-50% growth), supported by a new ₹20 crore debt facility and invoice financing scaling to ₹15 crore. Technology platform ARIS is improving operating leverage (costs fell from 3.8% to 3.1% of revenue). Key risk: working capital build (OCF -₹19 crore) may persist if invoice financing ramp-up is slower than expected.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided 30-50% revenue growth for FY27, aiming for ₹300 crore at the upper end, reflecting current geopolitical and logistics conditions.
- Target to increase container movement from 6,000 to 10,000 containers in FY27, supported by stronger shipping logistics partnerships.
- Invoice financing facility to start at ₹2.5 crore and scale to ₹15 crore during FY27, improving working capital efficiency.
- Management stated that with current debt and invoice financing levers, no further external capital is required to fund working capital until revenue approaches ₹500 crore.
Risks flagged
- Operating cash flow was -₹19 crore in FY26 due to doubling of trading book and tighter supplier terms. Cash conversion may remain pressured if invoice financing ramp-up is slower than expected.
- Top 5 customers contribute ~50% of revenue, with largest at ~20%. Management acknowledged but did not provide a specific diversification timeline, deflecting to margin-based selection.
- EBITDA margin compressed 170bps due to higher freight costs from UK/Europe sourcing shift and elevated oil prices. Freight is cyclical and could further pressure margins if oil remains high.
- Current warlike situation in Middle East impacted supply, though management claims quick mitigation. Further disruptions could affect sourcing and costs.
Key quotes
- Exim roots is a technology enabled recycling infrastructure company. We are building technology on the top of real supply chain and real operation problems and that is our strength.
- Our underlying trading economics are solid and actually improved by 3 percentage points and a freight line which is cyclical not structural which temporally masks the line coupled with some working capital effects.
- No trader in the world is having this data. That is why we are the only company ... that has presence in more than 25 countries because we know that what quality mills will be needing.
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