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Revenue
₹88.39 Cr
verified against source
Revenue YoY
12%
reported change
EBITDA
₹2 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Patel Integrated Logistics reported Q3 FY26 revenue of INR 88 cr (up 12% YoY) with EBITDA margin of 2.49% and PAT of INR 3 cr (margin 3.05%). Total cargo volume declined to 14,339 tons (domestic -7% QoQ, international -6% QoQ) due to IndiGo's aircraft grounding in December 2025 and post-festive slowdown. Management attributed the dip to one-off factors and expects normalization in Q4. The company is expanding domestic network via a partnership with Star Air and incorporated Rajput Logistics (50% subsidiary) to re-enter road logistics on an asset-light model. A restricted stock unit plan is proposed for employee retention. Key risk: continued dependence on passenger airlines for belly cargo capacity leaves volumes vulnerable to airline operational disruptions.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects domestic and international volumes to normalize in Q4, with no further impact from IndiGo disruption or seasonal slowdown.
- The road logistics subsidiary started operations in January 2026 and is expected to deliver meaningful turnover and profit after stabilization.
- Active discussions for cluster redevelopment of a building; expects a definite agreement in the next few quarters.
Risks flagged
- IndiGo's grounding caused a 7% QoQ volume decline; despite diversification, IndiGo's dominant market share poses a risk if similar disruptions recur.
- Management noted that ATF remains outside GST, leading to higher costs that are passed on to customers, potentially dampening demand.
- The road logistics venture is asset-light but requires time to build partner network and achieve meaningful revenue, with no near-term visibility.
Key quotes
- We are a company which is a profitable and we are not like a company which want to burn our cash... we have a sustainable profit there all the time.
- We are a company which have more than 1200 customers... we move documents, perishable goods, mobile, electronic goods... we are not depending on only on e-commerce or pharma.
- We are a ROI-driven company... we may look into the businesses or the asset-light businesses. So we are right now not much focusing on creating assets.
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