Integrated Filing (Financial) for the quarter and year ended March 31, 2026
RITCO · price
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Ritco Logistics reported standalone revenue of ₹1,48,424 lakhs for FY26, up 25% from ₹1,18,856 lakhs in FY25, meeting the 20%+ revenue growth threshold. However, profit after tax grew only 5.7% to ₹4,988 lakhs from ₹4,719 lakhs, as EBITDA margin compressed. Depreciation increased significantly to ₹2,953 lakhs (vs ₹1,619 lakhs) due to higher asset base, compressing profitability. The company had negative operating cash flows for the second consecutive year at ₹1,680 lakhs, driven by a large increase in trade receivables of ₹11,784 lakhs. Short-term borrowings surged to ₹35,533 lakhs from ₹23,061 lakhs, and total debt reached ₹45,458 lakhs. The auditor issued an unmodified opinion with no qualifications.
Revenue growth of 25% is positive but PAT growth lagged severely due to higher depreciation and finance costs. The persistent negative operating cash flow and rising debt levels raise concerns about cash conversion despite improving topline. Shareholders should monitor the working capital efficiency and debt servicing capacity.