Operates a digital platform for truck operators, with 8.5 lakh monthly transacting customers representing around 25-30% of all Indian truckers who spend 45 minutes daily on the app through 10,000+ offline touch points. The truck operator services segment generated 98.3% of FY26 revenue (Rs 641.95 crore) and houses the main businesses: tolling (FASTag payments, ~90% of total payment GTV), fueling, and telematics (AIS 140 devices sold with annual subscriptions spread over 12 months). Tolling gross transaction value grew 27% YoY in Q4 FY26 against an industry rate of 16%. The lending segment (1.7% of FY26 revenue, Rs 10.99 crore) runs an asset-light co-lending vehicle finance business with AUM of around Rs 600 crore, currently loss-making but targeted for cash flow breakeven by end of FY27. The largest cost lines are other operating expenses at 49.9% of revenue and employee costs at 24.6%, with capex at 17.2% reflecting stepped-up investment in growth businesses such as superloads and telematics device sales. The platform recorded its first full year of PAT profitability in FY26 at Rs 160 crore, with EBITDA of Rs 190 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Truck operator services (98%), Lending business (2%). Asset-light digital platform for trucking; network-effects marketplace with tolling, fueling, telematics, superloads and vehicle finance
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 427 | 652 |
| EBITDA (ex other income) | (281) | 163 |
| margin % | (65.8) | 25.0 |
| Owners' profit | (9) | 0 |
| EPS, as reported (₹) | (0.49) | 8.79 |
| ROE % · ROCE % | (0.7) · (22.0) | 11.3 · 11.7 |
| Debt / equity (x) | 0.02 | 0.02 |
| Cash from operations | 58 | 169 |
| Capex | (44) | (112) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99 | 114 | 122 | 144 | 151 | 172 | 185 | 204 |
| Profit before tax | (308) | (48) | 41 | 46 | 39 | 42 | 40 | 42 |
| Net profit | (269) | (48) | 280 | 34 | 29 | 32 | 66 | 42 |
| EPS (₹) | (17.18) | (2.80) | 15.36 | 1.85 | 1.60 | 1.74 | 3.60 | 2.31 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Truck operator services | 501 | 76.7 |
| Lending business | 8 | 1.3 |
| Truck Operator Services | 141 | 21.6 |
| Lending Bussiness | 3 | 0.4 |
| Total, before eliminations | 653 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BLACKBUCK LIMITED ◆ | 11,493 | 68.2 | 8.08 | 50.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · BlackBuck board approves wholly owned logistics subsidiary | strategic transactions | medium | — | — |
| 11 Sept 2026 · BlackBuck board approves new wholly owned logistics subsidiary | strategic transactions | medium | — | — |
| 1 Sept 2026 · BlackBuck to attend Axis Capital Consumer and Tech Conference on Sep 10 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Newspaper publication of 11th AGM notice and e-voting information | compliance | minimal | — | — |
| 27 Aug 2026 · Newspaper ad for BlackBuck 11th AGM notice and e-voting info | compliance | minimal | — | — |
| 26 Aug 2026 · Letter to shareholders without registered email about 11th AGM access | compliance | minimal | — | — |
| 25 Aug 2026 · BlackBuck files BRSR for FY26; women workforce at 9%, targets 20% by FY31 | compliance | low | — | — |
| 25 Aug 2026 · Notice of 11th AGM and Annual Report for FY 2025-26 | board shareholder meetings | medium | — | — |
| 25 Aug 2026 · BlackBuck 11th AGM scheduled for September 18, 2026; remote e-voting from September 15 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Allotment of 17,143 equity shares under ESOP schemes | capital market events | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 11.3 |
| 11.4 |
| — |
| 32.3 |
| KERNEX MICROSYS(I) LTD | 2,921 | 15.3 | 11.80 | 20.4 | 35.7 | 43.9 | 88.0 | 32.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 68.2 | 14.6 | 63 of 73 | 14% |
| P/B | 8.1 | 1.6 | 50 of 58 | 14% |
| ROCE | 11.3 | 7.6 | 28 of 79 | 65% |
| ROE | 11.3 | 7.3 | 21 of 64 | 68% |
| Debt / Equity | 0.0 | 0.3 | 14 of 64 | 79% |
| EBITDA margin | 32.3 | 11.3 | 13 of 65 | 81% |
| Revenue growth | 42.2 | 12.8 | 11 of 62 | 84% |
| Profit growth | 25.1 | 24.3 | 28 of 56 | 51% |
| Market cap | 11493 | 160 | 7 of 78 | 92% |
| 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 |
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.
