The Board of Directors of the Company in its meeting held on Friday, 29th May, 2026 has inter-alia considered, approved and taken on record the Audited Standalone and Consolidated Financial ....
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Awaiting price reaction for this filing.
Velox Shipping and Logistics (formerly Velox Industries) reported audited results for the year ended March 31, 2026. On a standalone basis, total income was Rs 330.45 Lakhs (vs Rs 69.50 Lakhs in FY2025), though profit after tax declined to Rs 34.25 Lakhs from Rs 43.94 Lakhs. The company completed two major acquisitions during the year - 98% stake in Anchorage Shipping (effective December 2025) and International Logistics Associates LLC (effective January 2026), which are now consolidated subsidiaries. On a consolidated basis, the company reported total income of Rs 2,227.62 Lakhs but posted a loss of Rs 73.28 Lakhs due to high cost of services (Rs 1,889.07 Lakhs). Post-year-end, the company allotted 2.83 crore convertible warrants at Rs 12 per warrant to non-promoter investors, raising Rs 8.50 Crore.
The shift from profit to consolidated loss due to high operational costs of newly acquired subsidiaries, combined with negative operating cash flow of Rs 266.49 Lakhs, raises concerns about near-term profitability and cash management despite the capital raise. The stock may face pressure as investors digest the operational challenges in the newly expanded business.