Maheshwari Logistics Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
MAHESHWARI · price
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Maheshwari Logistics Limited reported consolidated net revenue of ₹1,11,000.63 lakhs for FY2026, up 14% from ₹97,371.97 lakhs in FY2025. However, standalone PAT declined 6.9% to ₹1,634.93 lakhs from ₹1,756.46 lakhs. The company's standalone auditor issued an un-modified opinion, but the consolidated results include a subsidiary (Vidhik Prints Private Limited) with a qualified audit opinion regarding non-compliance with Ind AS 19 on employee benefits (retirement obligations). The Board decided not to recommend any final dividend for FY2026. Segment-wise, Trading contributed ₹68,281.37 lakhs, Transportation & Port Services ₹13,307.03 lakhs, and Manufacturing Kraft Paper ₹33,840.28 lakhs.
The PAT decline despite revenue growth signals margin compression and rising costs. The qualified audit opinion on a subsidiary's Ind AS 19 compliance raises internal control concerns. No dividend recommendation is disappointing for income-focused investors.