Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
Patel Integrated Logistics Ltd (NSE: PATINTLOG) Q4 2026 Earnings Call dated May. 13, 2026
Corporate Participants:
Mahesh Fogla — Chief Financial Officer
Analysts:
Harshil Shah — Analyst
Vikram Sooryavanshi — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Patel Integrated Logistics Q4 FY26 earning conference call hosted by Philip Capital. As a reminder, all participant lines will be 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 touchtone phone. Please note that this conference has been recorded. This conference call may contain forward looking statements about the company which are based on beliefs, opinions and expectation of the company as on the date of this call.
These statements are not guaranteed of future performance and involve risk and uncertainties that are difficult to predict. I now hand the conference over to Mr. Harshil Shah from Philip Capital. Thank you. And over to you sir.
Harshil Shah — Analyst
Thank you. Good afternoon and a warm welcome to everyone. Thank you for being on the call. Integrated Logistics. We are happy to have the management here today for the Q and A session with the investment community. Management is represented by Mr. Mahesh Kumla, Executive Director and Mr. Nash Paul Raj, Company Secretary. Before we start the start with the Q and A session we’ll have the opening comments from the management. Now I will hand over the call to Mr. Nish Kumla for the opening comments over to you sir.
Mahesh Fogla — Chief Financial Officer
Thank you. Good afternoon there and very warm welcome to everyone for joining the earning call of Patel Integrated Logistics Limited. We for the FY 202526 has been an important year for Patel Integrated Logistics Ltd. Marked by strong execution, significant improvement in profitability and continued strengthening of our core airfreight logistics business. The real numbers which I will explain you just in a few seconds clearly demonstrate that initiatives undertaken over the last few years are now translating into tangible financial performance and hina shareholder value.
Now let me explain the number for the quarter in the review. During the fourth quarter the company delivered robust operational and financial growth. Total income from operations increased by 11.68% year on year two rupees 96 crore 74 lakhs. More important for us as we always chase the profitable growth. Profit before tax increase by nearly 99% to rupee 3 crore 70 lakhs. While profit after tax rose by over 60% 60 60% to reach 2 crore 98 lakhs. Accordingly, earning per share for the quarter increased by approximately 54% to rupees 0.4 rupees 43 paisa per share.
0.43 per share. Rupee 0.43 per share. Now let me explain you the number for the full financial year 202526 our company reported total income from operation of rupees 357 crore 25 lakhs 357 crore 25 lakhs. While we are very happy to inform you that profit also before tax cross the milestone of 10 crore or 1000 lakhs we have achieved the profit. In fact our profit grew by over 34% year on year to rupees 10 crore 30 lakhs. Profit before tax is 10 crore 30 lakhs. Accordingly profit after tax also increased by more than 26% to rupees 9 crore 58 lakhs.
Clearly reflecting operational momentum and our disciplined cost management. Let me assure all the people who have joined the call that these numbers are not incidental or one of they are the result of focus exhibition strengthening of our air freight franchisee technology laid operational efficiencies, disciplined capital allocation and a conscious shift towards higher margin business segment. Our company has successfully transformed itself into a more agile, efficient and profitability driven logistic organization.
Which will also getting approved by our loading airframe division continue to deliver strong growth and profitability. Accordingly segment profit segment airfare division profit increased to to 11 crore 26 lakh in FY 202526 compared to rupee 8 crore 63 lakh in the previous year. Clearly it show that our our market position in our area of operation and our execution capabilities. As we know Patel Integrated Logistics Ltd. Has one of the strongest airframe network in the country. While we operate more than 100 airports across the Pan India.
With the Pan India network which we have which we have developed over a period of time. Accordingly we continue to have a significant and meaningful present in cargo transportation through passenger aircraft services. We serve diverse industry. We serve any industry which we want to move the goods through the air. Accordingly we we carry that we create document. We carry Pharma, we carry auto part engineering good we carry electronic goods. We also carry the fmtg. Whatever may be the move through the can you move through the year?
As we as we are seeing the numbers bit also show that the our path improvement in operational efficiency and financial discipline. Accordingly our finance cost reduced substantially to rupees 35 lakh only from 1 crore 18 lakh in the previous year. Reinforcing the strength of our balance sheet and prudent financial management. We are practically debt free company. Although we have a small amount of limits just for operational flexibility as can we know we have the also company balance sheet has more than 20 crore cat and cat equivalent in in hand so company is clearly a debt free company.
We can call net debt free company technically. But technically we are. We are. We have a very healthy cash position, liquidity position in the company. Considering the good financial position and all these numbers which I explained just now, we are happy to inform you the board has also recommended a final dividend of rupees 0.40 or 40 paisa per equity share for 2025 26. This is basically a 30% of our profit after tax and reflecting our confidence in the company’s financial trend and long term growth predictory long term growth path.
We are very confident and we want to reward the shareholders. So 30% of the profit after tax has been declared as a dividend. Going forward, we believe the company is strongly positioned to capitalize on the structural growth opportunities emerging in India’s logistic and air cargo sector. We all know that now the number of airports are increasing. Just now the Namumbai airport got operational. Jwar airport in Noida also getting operational. So as and at the number of airport government has a target of increasing the number of airports from 140 to 220.
So for company like Earth had an immense opportunity passenger aircraft at the the airlines have other number of passenger aircraft more than I believe the it will be from 7 around 700 passenger aircraft to 1800 passenger aircraft will be there which will also give us the growth opportunity for our company and for the country as a whole as well as we know that there is an increasing demand for movement cargo which are very time sensitive which. Which. Which. Which. Which required the good to move in the time bound manner.
As we are conjunctions are increasing in our country. We are growing some country. We people are looking for the player which are a organized player which have a good integrated logistics solution with a wide network and execution capabilities. Hence organized player like us has a very good opportunity line head and we are very confident while entering the next phase of growth as the company we will always remain clear in increasing our return on capital employed leveraging technology, leveraging artificial intelligence, increasing the operational productivity and as a result creating the long term value for all stakeholders.
Let me also give you. We have formed one subsidiary company in the last December quarter Rajput Logistics Limited the as we are talking we are continue to getting impediment for logistic business in top corporate of India and we are very confident in next two three years from almost now. Now now the company is growing in the nascent stage. We will. We will be able to reach the turnover very meaningful turnover for that particular Company also. So that will be additional vertical for the company in addition to the air cargo business.
As a result there will be improvement in our overall return on capital employed as well as our DSO or better sales outstanding. Because the Rajput Logistics Limited will operate in area where there will be minimal outpending. So we are all are very excited about the achieving the milestone which we which was of 10 crore profit as well as we are expecting that this is only the beginning. And we will grow much faster than this. Thank you.
Questions and Answers:
Operator
Thank you. We will now begin the question and answer session. Anyone who wishes to ask question may press star and one on their touch tone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handset while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assemble. A reminder to all participants that you may press star and one to ask question. The first question is from the line of Vikram Suryavanshi from Philip Capital.
Please go ahead.
Vikram Sooryavanshi
Yeah. Good evening sir. So how much of a revenue we can look at from Rajput Logistics a three year, five year down the line. What is our vision?
Mahesh Fogla
Look, currently we are in the 400 crore bracket. Correct. So I can definitely say that Rajput will add another 25% from that. Apart from the normal growth in the air freight logistics. It will happen.
Vikram Sooryavanshi
Okay. And what kind of margin we can expect in that business?
Mahesh Fogla
Yeah look that that business will have a. Will have a high return on capital employed because outstanding will be very minimal. So capital employed also will be turning will be very fast. And the return on capital employee will be higher than the margin. Definitely that the expectation we have and we are expecting a port of of 20% in return on capital employed from that business.
Vikram Sooryavanshi
So there we’ll basically do the booking for trucking trade basically. And now we’ll out through the to basically fleet from the market.
Mahesh Fogla
Yeah. We are asset light company and we’ll continue to be asset light company. So we will not own any truck. But we will leverage our network which we have and the contact which we have and the brand which we are. And the top corporates are willing to give us the business. And we want to be not taking any other business. We will taking a very few corporate only and doing the business with them with an almost with a minimal risk.
Vikram Sooryavanshi
And because of this ongoing war situation and the way we have seen the increase in the crude price as well as the ETF prices. How is the impact in short term in terms of capacity availability from the Airlines as well as the fear of ATF prices going up and impacting the outcome.
Mahesh Fogla
Yes Vikram, this is actually I can tell you unfortunately the favorable position for us because we are organized players but at the same time rates are hardening as I’m talking to you from the March 1515 international rate have increased. So rates are hardening and there is a supply issues are there but since we have we are operating with more than 60 airlines. Okay, 60 airlines. And luckily in our case as I can see them just now the apprailment gone away the momentum of the growth is continuing and we are in the unfortunate situation for the world but luckily we are keeping our momentum intact.
Vikram Sooryavanshi
Okay, so but in say 27 can we see volume growth on the back of geopolitical situation or what kind of internal growth targets we have?
Mahesh Fogla
Yes, correct. What will be right More rate will be increased more than the volume. Definitely because the rates are getting hardened but at the same time volume also it is very difficult to tell right now but what can be the point is that more and more goods are moving through the air also because of the all the pent and all this one. So we are very much hopeful that we will be able to maintain the growth in the volume as well.
Vikram Sooryavanshi
Okay, got it. And in terms of our we do have like a warehousing so any plan to increase the warehousing capacity or some of the time we also leave out the capacity which is a part of other income. So how is the this is like a steady state income generation opportunities we have plus comment on anything on warehousing side Also
Mahesh Fogla
Because of what is happening and as you can see in our what actually the ultimately the we are rot driven company and we are like I was talking with just now the company where the rot will be definitely more than the what we can earn from the wear out business. Okay. And the current business also without any owning the new asset we are earning the ROC more than the what we can earn from the temporary yet warehouse is a long term business it will give growth but currently the what we are internally we are observing that our current operations are giving us more ROC than the if we venture into the wear out operation.
So that is the thought process going on. But never say never. If any good opportunity come and we find the lucrative ROP coming up then because luckily the company don’t have a challenge of liquidity Company has a healthy balance sheet that is not the issue for the company so we are open to that. But right now immediately we are not looking we have don’t have any plan to enter into the asset business.
Vikram Sooryavanshi
And earlier you also mentioned about like revenue leakage or improvement in operational side with the mobile app launch. So. Yeah. Is that response and success and incrementally how we can see the benefit out of it?
Mahesh Fogla
Yeah. Right. We have now as early as now the AI also coming up to we are talking about two days back also we have a internal AI meeting also and we want to leverage the deep new technology for controlling the any leakages which we have at the same time Just to happy to inform you for the trade receivable. I think probably we are the one of them who have put us in system only in our area of business. If the outstanding improve outstanding goes to certain more than certain date for a customer which way we are not comfortable then system only stop it.
And there’s no manual intervention. At the same time we want to want to grow the turnover and all this one. So it’s a little collective also it not that we want to be totally the system driven company and and forget about the flexibility which women institutional knowledge which we have. So we are trying to use the both the thing human knowledge which we have institutional knowledge which we have and the knowledge which we are giving us at the same time red pill app. We are trying to do the more automaton now so that the more and more automaton can happen and the getting manpower can be used more productively.
We are a scientific company and we don’t want anybody to lose the job. At the same time we want to use the productivity of the employee in a more efficient way so our overall productivity improve and ultimately the profit is the byproduct of entire thing which we do.
Vikram Sooryavanshi
And lastly on this monetization of non core assets which has been there for a long time. So any material development we are expecting from this. Yeah, yeah, yeah.
Mahesh Fogla
Correct. Correct. Yeah. As you know we have a one property there which is reactively pursuing for the redevelopment at the same time that adjacent to our property there are two more properties are also there. So what now the things are coming up. If three of us together develop then the dilution can be much more than that. So as earlier next week also we going to have a meeting for that only and rest SEOs. We are actively pursuing that method at the same time as we know it is one want in a lifetime opportunity and all this.
So we want to extract the maximum value what is possible from that.
Vikram Sooryavanshi
But okay. And what will be the structure of these developments? It can give broader possibility Will it be developed under existing listed player or will it be like a sold out to at the one time gain or it can it have recurring income?
Mahesh Fogla
Ultimately no we don’t think it is a one time like that we till now the thought process is that everything will be in the lifted company only because that property owned by lifted company. Okay so what the and the structuring we are formulating but I don’t think we will go for one time like that because we have a advertise in house also of the construction activity and all this one so we want to be part of that activity and not the one off game we want to gain. We want to take the maximum benefit out of it which may not be possible in if we do one of them.
Yeah
Vikram Sooryavanshi
Got it. That was quite helpful. Thank you very much.
Mahesh Fogla
Yeah
Operator
Thank you. A reminder to all participants that you may press star and one to ask question it. As there are no further questions from the participants I now hand the conference over to the management for closing comments.
Mahesh Fogla
Yeah thank you. As we know Patel Integrated Logistics Limited is undervalued related to its performance with double digit revenue growth, liberal dividend payment and unmatched operational leverage. We are expecting very soon the company each for a valuation re rating which I am pointing out because there are sometimes the shareholders have a point that our fair prices are very low and we as a management person are aware of that one and we are very much committed to do whatever is possible to enhance the shareholder value hand we are building the foundation for long term leadership in Indian logistics.
We we once again thank you all of you for attending this call and hope the hope the future will be more brighter than the what we are mentioning you today. Thank you all of you.
Operator
Thank you on behalf of Philip Capital. That concludes this conference. Thank you. Thank you for joining us. You may now disconnect your lines.