Total cargo volume
14,339 tons
-7% QoQ domestic, -6% QoQ international
Q3 FY26 volume declined due to IndiGo aircraft grounding and seasonal slowdown.
PATELINTEGRATEDLOGISTICS
Infrastructure
10 Feb 2026
Patel Integrated Logistics Ltd — Q3 FY26
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%).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Blended sales realization
INR 59.82/kg
+1.8% vs 9M average of INR 58.75/kg
Reflects disciplined pricing and value-driven customer approach.
Cash balance
>INR 10 cr
N/A
Company is net debt-free with comfortable working capital.
Customer count
1,200+
N/A
Diversified base across e-commerce, pharma, electronics, documents, perishables.
Management Guidance
Q4 FY26 volume recovery expected
Management expects domestic and international volumes to normalize in Q4, with no further impact from IndiGo disruption or seasonal slowdown.
Management guidance growthRajput Logistics to contribute meaningfully in next few quarters
The road logistics subsidiary started operations in January 2026 and is expected to deliver meaningful turnover and profit after stabilization.
Management guidance expansionAsset monetization progress in next few quarters
Active discussions for cluster redevelopment of a building; expects a definite agreement in the next few quarters.
Management guidance otherKey Risks
Concentration on IndiGo for domestic belly cargo
IndiGo's grounding caused a 7% QoQ volume decline; despite diversification, IndiGo's dominant market share poses a risk if similar disruptions recur.
high · analyst_questionATF not under GST impacts cost competitiveness
Management noted that ATF remains outside GST, leading to higher costs that are passed on to customers, potentially dampening demand.
medium · management_commentaryNew subsidiary Rajput Logistics may take time to stabilize
The road logistics venture is asset-light but requires time to build partner network and achieve meaningful revenue, with no near-term visibility.
medium · management_commentaryNotable 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.
Frequently Asked Questions
What was Patel Integrated Logistics's revenue in Q3 FY26?
Patel Integrated Logistics reported revenue of ₹88 Cr in Q3 FY26, representing a +12% change compared to the same quarter last year.
What guidance did Patel Integrated Logistics management give for FY27?
Q4 FY26 volume recovery expected: Management expects domestic and international volumes to normalize in Q4, with no further impact from IndiGo disruption or seasonal slowdown. Rajput Logistics to contribute meaningfully in next few quarters: The road logistics subsidiary started operations in January 2026 and is expected to deliver meaningful turnover and profit after stabilization. Asset monetization progress in next few quarters: Active discussions for cluster redevelopment of a building; expects a definite agreement in the next few quarters.
What are the key risks for Patel Integrated Logistics in FY27?
Key risks include Concentration on IndiGo for domestic belly cargo — IndiGo's grounding caused a 7% QoQ volume decline; despite diversification, IndiGo's dominant market share poses a risk if similar disruptions recur.; ATF not under GST impacts cost competitiveness — Management noted that ATF remains outside GST, leading to higher costs that are passed on to customers, potentially dampening demand.; New subsidiary Rajput Logistics may take time to stabilize — The road logistics venture is asset-light but requires time to build partner network and achieve meaningful revenue, with no near-term visibility..
Did Patel Integrated Logistics meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Patel Integrated Logistics Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.