Intimation of Earnings Call Transcript of Investor/Analyst meet held on 20th November, 2025.
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Paradeep Parivahan reported H1 FY26 revenue of INR178 crores, up 29.4% year-on-year, with EBITDA margins at 14.5-14.6% beating expectations. Management guided FY26 revenue of INR420 crores and FY27 revenue of INR546 crores, representing ~25% CAGR. Order book stands at INR420 crores for FY26 and INR540 crores for FY27, with INR50-60 crores from new diversified segments. The company is diversifying into chemical trading (acquisition of a four-decade-old company, contributing INR40-50 crores expected), civil and maritime construction, and port-based acquisitions (MRTC India, Ask Logistics). A major gypsum opportunity with IFFCO (1 crore metric tons) is expected to start from January 2026 pending environmental clearance. Management indicated the FY27 EBITDA margin target of 16% may be revised upward given the strong H1 performance.
Strong H1 results with margin beat and clear multi-year growth visibility from both core logistics business and new diversified segments are positive for the stock. The order book provides revenue certainty, while diversification reduces concentration risk from IFFCO (60-70% of revenue). Investors should note the modest margin profile of the new chemical trading business (2-5%) may dilute blended margins initially.