NSE: ACCURACY · BSE: 544598
ACCURACY SHIPPING LIMITED
Provides logistics and freight forwarding services as its core business, contributing 67.2% of FY26 segment revenue at ₹456.7 crore, with segment EBIT of ₹13.9 crore. Also trades commercial vehicles (HMCV), generating 27.1% of segment revenue at ₹184.4 crore, and retails petrol and petroleum products, contributing 5.4% at ₹37.0 crore. The logistics arm operates a C&F (clearing and forwarding) business that handled 82,771 containers in 9MFY26 at an average realisation of ₹43,299 per container. The company recently expanded its logistics footprint by acquiring a 52% stake in A.R.S. Liners (India) Private Limited, a freight forwarding, container handling and road transport firm, and a 99.80% stake in A.R.S. Terminals (India) Private Limited, a warehousing entity. Consolidated FY26 revenue stood at ₹670.6 crore against a net profit of ₹3.9 crore, with EBITDA margin of around 4.6%. The largest cost line is materials at 63.5% of revenue, consistent with the trading nature of the commercial vehicle and petroleum businesses alongside the logistics services. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Logistics (67%), Sale of Commercial Vehicle (27%), Sale of Petrol and Petroleum products (5%), Others (0%). Asset-light logistics services combined with trading of commercial vehicles and petroleum products
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 877 | 708 | 946 | 671 |
| EBITDA (ex other income) | 35 | 24 | 30 | 29 |
| margin % | 3.9 | 3.4 | 3.2 | 4.4 |
| Owners' profit | 8 | 0 | 5 | 0 |
| EPS, as reported (₹) | 0.55 | 0.03 | 0.31 | 0.26 |
| ROE % · ROCE % | 7.1 · 17.0 | 0.4 · 7.8 | 3.9 · 12.7 | 3.1 · 10.4 |
| Debt / equity (x) | 0.94 | 0.94 | 1.08 | 1.20 |
| Cash from operations | 46 | 28 | 1 | 25 |
| Capex | (27) | (9) | (7) | (34) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 253 | 254 | 237 | 162 | 191 | 158 | 161 | 141 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 0 |
| Net profit | 0 | 1 | 1 | 0 | 1 | 1 | 2 | 0 |
| EPS (₹) | 0.03 | 0.06 | 0.05 | 0.03 | 0.04 | 0.05 | 0.14 | 0.03 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Logistics Service | 136 | 18.6 |
| Sale of Commercial Vehicle | 184 | 25.2 |
| Sale of Petroleum Products | 4 | 0.6 |
| Others | 2 | 0.2 |
| Logistics | 372 | 50.9 |
| Sale of Petrol and Petroleum products | 33 | 4.5 |
| Total, before eliminations | 731 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CONTAINER CORP OF IND LTD | 31,836 | 25.5 | 2.44 | 13.5 | 9.5 | 11.6 | 7.2 | 24.5 |
| DELHIVERY LIMITED | 28,831 | 308.0 | 2.98 | 29.4 | 1.6 | 1.2 | — | 8.7 |
| SHADOWFAX TECHNOLOGIES L | 17,055 | 106.0 | 9.77 | 67.6 | 6.4 | 5.7 | — | 8.3 |
| BLUE DART EXPRESS LTD | 10,159 | 35.4 | 5.72 | 10.7 | 13.9 | 13.4 | 13.3 | 16.7 |
| TRANSPORT CORPN OF INDIA | 6,668 | 14.5 | 2.56 | 12.0 | 17.7 | 14.4 | 11.9 | 11.3 |
| TVS SUPPLY CHAIN SOL L | 4,919 | 76.3 | 2.39 | 6.0 | 5.7 | 4.8 | — | 7.2 |
| VRL LOGISTICS LIMITED | 4,707 | 17.6 | 4.12 | — | 20.7 | 14.5 | — | 21.9 |
| MAHINDRA LOGISTIC LIMITED | 4,257 | 115.0 | 3.55 | 10.9 | 0.9 | 2.0 | 16.5 | 6.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.2 | 15.6 | 24 of 51 | 54% |
| P/B | 0.5 | 1.6 | 4 of 40 | 92% |
| ROCE | 2.7 | 7.7 | 42 of 55 | 24% |
| ROE | 3.1 | 6.0 | 26 of 40 | 36% |
| Debt / Equity | 1.2 | 0.3 | 38 of 40 | 5% |
| EBITDA margin | 5.0 | 8.7 | 36 of 43 | 17% |
| Revenue growth | (12.9) | 9.5 | 37 of 42 | 12% |
| Profit growth | (16.1) | 22.5 | 28 of 35 | 21% |
| Market cap | 60 | 121 | 38 of 56 | 33% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Routine quarterly certificate filed with exchanges under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 1 Oct 2026 · Accuracy Shipping appoints Independent Director for five-year term | management changes | medium | — | — |
| 1 Oct 2026 · AGM voting results: All 4 resolutions approved with over 99.99 percent support | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · Accuracy Shipping 18th AGM concludes; voting results by Oct 2 | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Accuracy Shipping trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 11 Sept 2026 · Accuracy Shipping subsidiary gets LoI to set up CFS at Kandla | compliance | low | — | — |
| 11 Sept 2026 · Subsidiary gets Letter of Intent for new Container Freight Station at Kandla | capex operations | medium | — | — |
| 10 Sept 2026 · Accuracy Shipping Q1 FY27 Presentation: Margins Expand, Revenue Declines | investor communications | medium | — | — |
| 6 Sept 2026 · 18th AGM notice published in newspapers; meeting on 30 September 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Accuracy Shipping sends AGM notice letters to shareholders without registered emails | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.