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.
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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.
high · analyst_questionTop 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.
medium · analyst_questionEBITDA 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.
medium · management_commentaryCurrent warlike situation in Middle East impacted supply, though management claims quick mitigation. Further disruptions could affect sourcing and costs.
medium · management_commentary