Patel Integrated Logistics Ltd (NSE: PATINTLOG) Q4 2025 Earnings Call dated May. 21, 2025
Corporate Participants:
Unidentified Speaker
Mahesh Fogla — Executive Director
Avinash Paul Raj — Sr Manager Accounts and Company Secretary
Analysts:
Unidentified Participant
Harshil Shah — Analyst
Sanjeev Damani — Analyst
Ayush — Analyst
Sampath Nayak — Analyst
Kamal — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Patel Integrated Logistics Q4 NF525 earnings conference call hosted by Philip Capital India Private Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. This conference may contain forward looking statements about the company which are based on beliefs, opinions and expectations of the company as on the date of this call.
These statements are not the guarantees of future performance and involves risks and uncertainties that are difficult to predict. I now hand the conference over to Mr. Harshil Shah from Phillip Capital . Thank you. And over to you sir.
Harshil Shah — Analyst
Thank you Shruti. Good afternoon and very warm welcome to everyone. Thank you for being on the call of Patel Integrated Logistics. We are happy to have the management here with us today for a Q and A session with the community. Management is represented by Mr. Mahesh Fogla , the Executive Director and Mr. Avinash Paul Raj , the Company Secretary. Before we get with get started with the Q and A session we’ll have some opening remarks from the management. Now I’ll hand over the call to Mr. Mahesh Fogla for the opening comments. Over to you sir.
Mahesh Fogla — Executive Director
Pleasure to welcome you all to the earning conference of Patel Integrated Logistics Limited for the fourth quarter and as well as the financial year ended 31 March 2025. Let me first thank you from my bottom of my heart to our host Philip Capital for arranging this phone call. Thank you Flip Capital. Now let me take you through the operational highlight for the period and the review after that. I will give you the financial highlights. Let me first explain you the operational highlight. As we all know that we have a challenging macroeconomic environment mainly due to geopolitical tension, ongoing tariff work, capacity constraint on both passenger and freighter aircraft during peak period, limited airport.
In spite of all this we have deliver, deliver. We have delivered a performance and we able to deliver a good performance. I mean today thanks to all of my team members and to all the stakeholders in the company and maintained operational momentum across our core business segment. We able to maintain the momentum and we are thankful to for that to all the stakeholders, whether it is the airlines, whether the employees, shareholders, management, I thank all of them for that. We remain optimistic about the future of the logistics sector. In fact we are highly optimistic about the future of the logistics sector.
This is also because the government not Supportive policy Whether it is by way of national logistic policy or the creation of infrastructure development by way of increasing the number of airport Airlines are also given all the support to increase the number of passenger aircraft there. As you know also there are a big number of order has been placed by both Indigo and Air India as well as the APASA airlines. So we will have in the near future significant increase in the number of aircraft which I will explain how it benefits us further Government had outlined a capital outlay of 30,000 crore by the through the airport authority of India for the development of the airport in India and there are 1,000 new Iran booth are getting developed which will help in opening up new regional market and Hinan nationwide logistic connectivity and we are being a Pan India company.
We are very hopeful that add the connectivity improved at the Pan India air connectivity improved we will also get benefited at the other companies Being a first mover definitely will have advantage of that. This forward looking infrastructure push supported by our own strategic initiative has contributed to the consistent year on year growth and position us well to capitalize on the emerging opportunities in the in the sector in the air cargo sector. As part of our ongoing expansion and infrastructure development initiatives we are very pleased to share with you that our board has approved the acquisition of a one acre plot at Sanathwadiques very high growing area for the construction of a new wear out.
This is part of our expansion plan. Now let me share you some of the highlights of our performance for the period and the review for the full year ended 3-31-2025. Our total load or volume is 57,001 ton. 57,001 ton deflecting it a stable operational performance despise cargo capacity constraints and as I was explaining to you in the above external economic challenges, Macroeconomic challenges. Macroeconomic not only economic macro geopolitical challenges, tariff war Also in spite of all this we able to get the good volume of 57,001 ton. This also reflect the our strength of our Indian economy and one of the major market there.
We we are the major player in this our area operation. So definitely if our load remain the stable this so that Indian economy is in a very good growth phase. Further out of the 57,001 ton the domestic cargo contributed 48,878 tons 48,878 tons and international contributed 8,123. So there domestic was 48,878 and international was 8,123. Total was 57,001 ton and increasing the international volume definitely signify our growing present in global plate forwarding. Further just to tell you, in spite of all the challenges, our overall volume remained broadly in line with the last year. However our performance was significantly pendant significantly improved by an 18% increase in average sales realization per kill kg.
Our average sales per kg increase from 49 rupees 60 PETA per kg in FY24 last in I.e. last year to 58.64 rupees per kg in current year in last financial year I.e. f in the financial year on the review I beg pardon in financial year and the review that is FY25 we have increasing the sales realization from 49.60 to 58.64. This improvement underscores our shift towards higher value cargo supported by focused customer targeting and disciplined yield management in enabling us to protect our turnover even in a competitive landscape. We able to improve our turnover significantly due to that this which you can which you will able to understand further as I’m explaining you our financial performance.
Key highlights of our financial performance for the fourth quarter and the financial year ended 2025 our agenda for the fourth for the quarter and the review that is the fourth quarter of the last financial year FY25 our operational revenue grew marginally by around 1% year on year to 87 crore and EBITDA margin reported at at 2.42% net profit. We reported at the Indian rupees INR 2 crore which represents a growth of around 12% year on year and the pat margin to that profit after tax to that 2.19%. For the full year ended 3-31-2025 we achieved operational revenue for the full year ended 3-31/2025 we achieved operational revenue of 343 crore marking an 18% growth over FY24.
We have an increase in the full year turnover of 18%. 18%. EBITDA for the full year is rupees nine crore reflecting a marginal 3% decline year on year. EBITDA margins were reported at 2.57% while our net profit due to control in the interest cost and other expenses increased by 38% year on year. 38% year on year to 8 crore INR 8 crore around INR 8 crore with a profit margin of 2.22% with a PAT margin of 2.22%. So as you can see our net profit has been improved very significantly now since it is the full financial year under review also.
So I am I will share with you some balances number also which will give you that clear picture of our financial position as on 31st March 2025. As of 3-31-2025 the company had maintained a strong and disciplined financial foundation which can be seen from our figures agenda. Our total asset each rupees 168 crore. Our total assets are 168 crore. Net worth increase to INR 122 crore Net worth increased to INR 122 crore reflecting healthy internal accruals and regular profitability we have made significant tries in deleveraging long term borrowing which dropped halfly to just 50 lakh just 50 lakh 0.5 crore down from INR 9 crore last year.
From 9 crore we able to reduce our long term borrowing to 50 lakh or 0.5 crore as well as short term borrowing also be able to reduce to 13 crore from the 16 crore last year. As a result our debt to equity ratio is a near now 0.11 0.11 compared to 0.20 in FY24. This deleveraging marked a significant milestone in our financial journey and and position us well for our future expansion. Give us all the flexibility and the resilience in any any downturn if any in the economy or any anything happen so company has been make the risk free.
We are all the time making effort to how to make the company on the liquidity front we close the year with CAT and cat equivalent of INR 29 crore reflecting ample headroom to fund operations and the growth initiated. We have last year trade receivables of as you may recall some of them who attended our regular earning call that we have a trade receivable of 90 crore in the last year which had been now reduced substantially to 68 crore although there is a increase in the turnover by 18% reflecting our continued focus on technology, credit control and collection we had as I was explaining in my earlier confault we have developed a mobile app in the name of Threadfield so everything has been made the paperless which also help us in controlling the things our investment property and long term lead warehousing assets including the 99 year Bangalore facility continue to provide at the required age by supporting its scalability without requiring heavy capex.
We as you know we have also have a Bangalore facility of 2.2 acre further in line with our a strong financial performance as mentioned above and continued commitment to reward the shareholders who are very royal shareholders as I must tell who have supported us all the time. We are very pleased to Announce that the board has recommended a final dividend of INR 0.30 per equity share for the financial year2024 25 again the earlier payout of only 0.10 per share almost there is a 300% increase in the dividend payout overall. As I can As a final conclusion I can talk about we have a strong balance sheet, minimal debt, healthy cash reserve, rising network.
Above all very committed all the stakeholders whether the employees, suppliers, shareholders, dedicated team management, strong management, very committed management. Patel Integrated Logistics Ltd. Is well positioned to siege a new opportunity particularly in high growth segment of airfreight logistics, e commerce logistics and multimodal distribution. Just to further tell you being a Pan India company there is a and also just to we all know that we recently faced the Indo Pakistan world but being our performance got least affected being spread all over India and as well as having international movement of the threat with this now I open the floor for the question and enter session over to Harshil.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press please Star and one on their touchstone telephone. If you wish to remove yourself from the question queue you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. Participants who wish to ask a question may press star and 1. The first question is from the line of Sanjeev Damani from SKD Consulting. You may proceed.
Sanjeev Damani
Namaskar sir. Am I audible so I begin. Thank you sir. Sir, really congratulations for very fine set of number despite a lot of turbulence in the economy within India and abroad as well. Now sir, you know I had attended one of the con call before about two years where you had mentioned that company has got certain land assets which are being cleared for monetization. So what is the progress there? Can I know.
Mahesh Fogla
Thank you for asking the question. I could have explained you could actually read this point. Yes, we have a property in Bombay in major places of Bombay. Just as we are talking about we have one complete building in the CAR area only. We are in active discussion with the developer also and multiple but in the but till the final agreement gets signed we cannot put anything on the record. But as I can rest assured we are in the process to do something for that. And as you were talking about the two year. Yes two years back we talk about that thing then because these things are like a life changing or the game changing opportunity.
So we want to negotiate best As a result we don’t want to make a hurry and desperate thing. And as we are talking about there are. Yes, there is some discussion going on. Behind the scene meetings are going on. But I could not talk anything because nothing is in sign on the dotted line. But just discussions are going on. Definitely.
Sanjeev Damani
Okay sir. And this is the only one property. Or you were talking?
Mahesh Fogla
No sir. Yeah, yeah. This is the one property with discussion going on. But as we are talking about we have in the Pan India properties are there as I am sitting in the Bandra office right now. Here also the first floor in the public listed company entire 5,000 square feet floor. So in the public listed company there we have a canal than a property there there is a come in and also some redevelopment of one area going on. So we have multiple properties which we disclose also in the balance sheet also.
And we can talk about when we evaluated our property we have in Bangalore also. So there I say if I talk about the market value of the property. Definitely. As we are disclosing in the balance in last year also triple digit figure. Yeah.
Sanjeev Damani
Sir, can I know. I mean what was declared value which was declared in the balance sheet? Or if you can express today the the approximate value of the sum total of all the properties that we hold. Whether whether really can we monetize all of them or are we using it also for our current businesses. Because the property that we are using today for our business will not be monetized. But if you have identified certain properties like one in the car for monetization. Can you elaborate the market value, approximate market value of all such properties. That is one question.
Then and secondly, are we also. Are we also taking properties on rent for warehousing and all. So can you elaborate that how many places we have taken properties on rent for our warehousing purposes which is required for running our current businesses.
Mahesh Fogla
Damani Ji. What I was talking about the triple digit figure of road into you. That is the vertical not historical figure. That is the figure done as per the accounting standard. Also because we have to disclose in our books of account also market value of the property. So the historical figure definitely book value of figure will be like a depreciators and all this will be lower only. So figure which I was telling you all over India is the market value only.
Sanjeev Damani
Okay. So.
Mahesh Fogla
Okay. And second thing. Second. Second. Sorry, what?
Sanjeev Damani
I was only asking if you can. You said three three digit figure. So it. It is certain hundred crore, something like that want to indicate.
Mahesh Fogla
Yeah, definitely that. That only. That only. I was talking about to You.
Sanjeev Damani
Yeah. And. And you have intention of monetizing all all of such properties which you have mentioned to be in three district?
Mahesh Fogla
Yeah. Just to clarify you correct you I got a question. In our operation are very asset light operation in the air flow. The operation we don’t require a big or down. Okay. Things which I’m talking to it all of them can be monetized. It will not affect our business anyway in very minimal used for self used. Very minimalist for self used.
Sanjeev Damani
Okay.
Mahesh Fogla
All are medically fun be monetized externally. And they are not like that for that any business getting affected? No.
Sanjeev Damani
Okay got it sir. And now the what are the prospects? What are the tie ups that we have made for the current year which will enhance our businesses over last year.
Mahesh Fogla
Can you repeat the question please again.
Sanjeev Damani
Sir, we have done business in last year. Now are you adding more client in this year whereby we increase our business. You know some sort of tie ups where they will give the customer will give that assignment always to us. Do we have that type of fixed assignment also or we have to deal every inquiry and get business
Mahesh Fogla
very good portion. we to be honest with you we are also continuously because we are a company. We don’t want to depend on a and some of the customer or very few customers. And we also as you can see our from 90 crore data we have reduced it to now 68 crore data. So one of the objective is that we don’t want to depend on a very few customers. We continuously increase our customer base as we are speaking about you. As to you we have number of customers also increase in the last March month. Also we increase the number of customers as well as this mitigation.
We want to spread our customer base. And your question about that how we get the customer and all this we are company which is. Can I take a one minute of you. We do the business through the airline and we take the load from all the e. Commerce Pharma Co. Whoever moved the good through the year. We have as you know although we have definitely a double digit market player in that. Correct. So we are continuously talking about adding the customer. And. And in the meantime yes there sometime it happened also because it’s a continuous process.
One or two customers also we leave also maybe because of the credit issue or because of the margin issue and all this. But net net. We are increasing our customer better second year.
Sanjeev Damani
Thank you very much sir. I am more than satisfied. You have really replied all questions very honestly and transparently. And all the best to you from my side sir.
Mahesh Fogla
Thank you Damani.
operator
Thank you. The next question is from the line of Ayush from Soul Practice. Please go ahead.
Ayush
Hello. Good evening sir. I hope I’m audible. So this wanted to know in airline what is the capacity for cargo which we have and how much of it can we use?
Mahesh Fogla
Sorry, I couldn’t get a question. Cargo capacity you’re asking for.
Ayush
Yes. Yes And how much of it can we use?
Mahesh Fogla
Yeah, look. Cargo capacity like what we do like you and me travel by the passenger aircraft. Of that passenger aircraft belly capacity we only use. Okay. So on that belly capacity when we use like I am talking about that we have last year done a total volume of in the domestic. If I talk about 48,000. 8:78. Okay. So that means roughly the 50,000 tons. You can safely multiply that one with the. With the 10 times or around 10 times. So you can talk about that. We have a capacity in the all over India around the 5.5lakh to around 5lakh ton.
And it capacity also vary because is a priority given to passenger load. If there is a passenger load or not the 50. And with the add on revenue for the airlines also and then the cargo getting loaded. So as we are talking about that there is a number of big orders are played by Indigo by 400 airline aircraft like Air India also places the big order. Akata talking about every month. Every week or every month they are taking a one new aircraft. So as the number of aircraft are getting increased the cargo load capacity will also increase.
Ayush
Yes sir. Makes. Makes. Makes sense. So also one more question. Can you help me with the EBITDA margins for international segment and the domestic segment?
Mahesh Fogla
Right now I will not have but I. We have a consolidated EBITDA of this figures are there which I told about to you just. I will again repeat EBITDA for the year. 2.9 crore for us in a turnover of the 343 crore. So you can talk about around the 4% margin.
Ayush
Okay, got it sir. Thank you so much.
Mahesh Fogla
Thank you.
operator
Thank you. Before we take the next question we would like to remind participants that you may press star and one to ask a question. The next question is from the line of Sampath Nayak from Avida AMC. You may proceed.
Sampath Nayak
Hi sir. Hope you’re doing well. Hi. Yeah. Hi sir. This is sample. So on your website I can see sir, you have ventured into a new vertical. So you’re tied up with USC gym. Can you talk more about it?
Mahesh Fogla
Yeah, I am good actually. But just to tell you as we were talking in the earlier question and answer that we have multiple properties are there like as we have one property in Bandra. Okay. That property was. I was remaining backend. So what we have done basically we have tie up with the UFC and we have started a gym there.
And just to tell you basically it is a rental. Iv we getting a money regular money from them and if you operated by somebody else. So we it is only because we had listed company we have to disclose all the things. But you can safely tell we have no interest in running the gym business. It’s basically rental model for us. We are getting a rental from the. From the gym business.
Sampath Nayak
Okay sir. So. Okay. Thank you.
operator
Thank you. Before we take the next question we would like to remind participants that you may press star and 1. The next question is from the line of Harshil Shah from Phillip Capital. you may proceed Sir.
Harshil Shah
Hello sir. So what is the breakup of domestic and international volume for the Q4 and FY25? Yes. For the quarter and also for the year.
Mahesh Fogla
Yeah, for the year. Let me speak you first of all for the year the domestic is the 48000 for the full year. Let me talk domestic cargo is the 48 878. Okay. And international is 8123 ton.
Harshil Shah
Okay.
Mahesh Fogla
Okay. And for the quarter is the 11. 266 is the domestic one. 267. You can take the size and an internationally 2099 mean. 2099.
Harshil Shah
Okay. And sir, what is
Mahesh Fogla
all bigger than in Tanya? T U dot T O N M.
Harshil Shah
E S okay, noted. And what volume growth are we expecting? FY26.
Mahesh Fogla
Volume growth will definitely improve at the economic growth. And we are a pan India company. We are targeting ourselves. Definitely. I’m different from giving any guidance but I can definitely expecting the volume to momentum to maintain.
Harshil Shah
Okay. So sir, as you had mentioned your opening remarks that business was affected due to the India Pakistan issue. So can you quantify the amount or Something .
Mahesh Fogla
name that that only our time to clarify just now because I just now before the call also I checked with my team also. Okay. Being it we were expecting that because maybe there is perception is there because of India Parkward our volume got affected and all this luckily because the airport which were there. There were small airport and being a pan India company we were not an at all very very marginally get impacted not significantly. I want to clarify that point. That’s why they did.
Harshil Shah
Okay. Okay, thank you.
Mahesh Fogla
Luckily we are saved. We have not get affected.
Harshil Shah
Okay.
operator
Thank you. Before we take the next question we would like to remind participants that you may press star and one to ask a question. The next question is from the line of Kamal from New First Capital. Please proceed.
Kamal
Hi, thank you for taking my question and congratulations on good results. I just wanted to know that now with the tariffs started coming in from last month. So how much of the exposure do we have in the cargo inc. Going to us because I see maximum more than 60% of volumes are in for international cargo. So how much of our exposure than US and how has the traction been over the last one one and a half months since tariffs has.
Mahesh Fogla
No, luckily I have one in the paper also I mentioned luckily we are moving toward the non usa Our moment of good is more toward the non USA so we are not getting affected. But having said so overall environment as I talk about definitely the rates are getting increased because all the people want to move the good faster because there’s lot of uncertainty there. People don’t know which route we were, which player the rate will increase, which play the decrease. But there is definitely rough is there rough is there. But in our case luckily we are not in the.
We are not doing the USA and our movement of goods. We are more towards the non USA movement of goods. So we are not getting affected. I’m talking about general involvement definitely like a pharma Pharma getting affected because they. They are. People don’t know when the pharma tariff will improve, increase will be put. I mean that tariff will be put on that pharma good or not there is a rust is there? Yeah.
Kamal
So that means industry like pharma where they are probably rushing in and sending more goods before the tariffs come in place.
Mahesh Fogla
Yeah, because they think before the tariff come up and we never know when the tariff before that they want to move the good as much as possible.
Kamal
Okay. Yeah. So that will be benefiting us.
Mahesh Fogla
Yeah, I’m talking about general economy, general logistic environment which is there.
Kamal
Yeah.Okay. But as we are not into us too much so it won’t have any money.
Mahesh Fogla
No, no. Luckily we don’t have. Rates are getting harder now just to tell you. Rates are getting harder so that is good for overall rates are also getting harder now. Yeah, yeah.
Kamal
So margins should be going up probably this quarter.
Mahesh Fogla
Well, it depends actually margin. But look actually yeah sometimes it rate getting hard and you feel the margin is getting improved but overall too much or high or too much or low both are bad for the every stakeholder. It is always better to be orderly movement of the things are there then in the long term is viable. But otherwise the people ultimately cost is the big element in logistics if people are feeling the cost is very high they will go for alternative things and all this one. So my my request and everybody everywhere the request will be there.
Let have an orderly movement of the thing.
Kamal
And how much of our turnover will be from E Commerce.
Mahesh Fogla
But look we are a company which don’t depend on any particular thing. We moved anybody who want to move the good through the air like whether the palatable good, whether the E commerce good or pharma good paper document. So we are not depending on any one sector and we don’t track also. That’s the reason.
Kamal
Okay, got it. Fine. Thank you so much.
Mahesh Fogla
Thank you.
operator
Thank you. As there are no further questions I now hand the conference over to the management for closing comments. Thank you. And over to you sir.
Mahesh Fogla
Yeah thanks all of you who have asked the question or who have attended the conference just hearing my remark, our remark. I am very thankful to all of you for participating in this earning conference call. I hope we have been able to answer your question in whatever way we could do that one in the limited capacity. If you have any further question or clarification or you would like to know more about the company. We are also our investor related agency Ballerina Advisors. You can definitely reach out to them also to to understand more about the everything.
We will be happy for that. They can also reach to us for any clarification. So I’m again repeating we have an investor related agency in the name of Belladam Advisor. Please call them for any clarification, any questions, any issue. You know want to know about the thing. Thanks a lot again for attending this conference call.
operator
Thank you on behalf of Philip Capital India Private Limited. That concludes this conference. Thank you for joining us and you may now disconnect your lines.
Mahesh Fogla
Yeah. Thank you.
operator
Thank you.