Transcript of Earning call held on 29.05.2025.
TIGERLOGS · price
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Tiger Logistics (India) Limited held its FY25 earnings call chaired by CMD Harpreet Singh Malhotra. Management called FY25 a strong year despite a choppy January–March quarter marked by tariff-related uncertainties, highlighting gains in its imports business, new renewable energy venture TiGreen, and the recently launched LCL product CUBOX. EBITDA margin stood around 6.3% and PAT margin around 5.6%, with management attributing stability to a diversified business portfolio and a deliberate effort to reduce dependence on the top five customers. Management guided to 15–18% top-line growth for FY26, with PSU and government contracts expected to grow at least 15%. US tariffs were described as not material to India–US business, with enquiries actually increasing.
The 15–18% revenue growth guidance and push into PSU, LCL (CUBOX), and renewables suggest a steady expansion path for shareholders, though management's refusal to commit on margin expansion beyond current ~6% levels may temper near-term earnings upgrade expectations.