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View Promises →Patel Integrated Logistics Ltd — Q4 FY26
Patel Integrated Logistics delivered a strong Q4 FY26 with revenue of ₹296.74 Cr (+11.68% YoY) and PAT of ₹9.58 Cr (+26% YoY), driven by disciplined cost management and a shift to higher-margin air freight.
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Patel Integrated Logistics delivered a strong Q4 FY26 with revenue of ₹296.74 Cr (+11.68% YoY) and PAT of ₹9.58 Cr (+26% YoY), driven by disciplined cost management and a shift to higher-margin air freight. The air freight segment profit rose to ₹11.23 Cr (from ₹8.03 Cr). The company is virtually debt-free with ₹20+ Cr cash. Management guided for 25% revenue addition from the new Rajput Logistics subsidiary over 3-5 years, targeting 20%+ ROCE. Risks include potential volume impact from geopolitical tensions and ATF price volatility, though management sees rate hardening as favorable for organized players.
Promises1 met · 0 missedRisks3 trackedTranscriptfull text
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Geopolitical tensions and ATF price impact
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Read Transcript →Quarter Snapshot
Air Freight Segment Profit
₹11.23 Cr
+40% YoY
Segment profit increased from ₹8.03 Cr in FY25, reflecting strong execution and market position.
Finance Cost
₹0.35 Cr
-70% YoY
Finance cost reduced from ₹1.18 Cr, reinforcing debt-free status and prudent financial management.
EPS
₹0.43
+54% YoY
Earnings per share for Q4 increased from ₹0.28, reflecting strong profit growth.
Dividend Payout Ratio
30%
N/A
Board recommended final dividend of ₹0.40 per share, representing 30% of PAT.
What Changed vs Last Quarter
NEW
Rajput Logistics to add 25% revenue in 3-5 years
The new subsidiary is expected to contribute 25% incremental revenue on top of normal air logistics growth, targeting 20%+ ROCE.
NEW
Continued volume and rate growth in air freight
Management expects rates to harden further (15% international rate increase already seen) and volume growth to continue, though exact targets not given.
NEW
Non-core asset redevelopment for maximum value
Management is actively pursuing redevelopment of a property, potentially with adjacent owners, to extract maximum value within the listed entity.
DROPPED
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.
DROPPED
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.
DROPPED
Asset monetization progress in next few quarters
Active discussions for cluster redevelopment of a building; expects a definite agreement in the next few quarters.
NEW RISK
Geopolitical tensions and ATF price impact
Ongoing war situation and rising ATF prices could affect capacity availability and cost structure, though management sees rate hardening as favorable for organized players.
NEW RISK
Volume growth uncertainty amid rate hardening
While rates are increasing, volume growth may be impacted; management could not provide specific volume targets for FY27.
NEW RISK
Execution risk in Rajput Logistics
The new subsidiary is in early stages; achieving 25% revenue addition and 20%+ ROCE depends on successful client acquisition and operational execution.
RISK GONE
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.
RISK GONE
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.
RISK GONE
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.
Fast read
Guidance and risk preview
The new subsidiary is expected to contribute 25% incremental revenue on top of normal air logistics growth, targeting 20%+ ROCE.
Ongoing war situation and rising ATF prices could affect capacity availability and cost structure, though management sees rate hardening as favorab...
View Risks →