BSE: 544474
BLT Logistics Limited
Operates a road transport and logistics business, moving goods from warehouses to customer premises using an owned fleet of commercial trucks. Consolidated revenue from operations grew to ₹5,622.13 lakhs in FY26 from ₹4,917 lakhs in FY25, while standalone revenue grew to ₹5,469.94 lakhs from ₹4,792.48 lakhs. The cost book is dominated by materials and direct operating expenses at 76% of revenue, with employee cost at 4.2% and other operating expenses at 2.7%. Capex of ₹4.32 crore in FY26 was partly funded by an August 2025 IPO that raised ₹972 lakhs, of which ₹387.88 lakh was earmarked for trucks and equipment. The road transport operations sit alongside a 15% stake in BLT Renewable Energy Private Limited, which is being set up to work in CBG/bio-CNG, biogas, biomass and other green energy, and a wholly-owned Dubai subsidiary, BLT International Logistics FZ-LLC, registered in the RAKEZ Free Zone. A consolidated subsidiary, Sabarmati Express India Private Limited, is also part of the group. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Road transport and logistics. Asset-moderate road transport and logistics company, SME-listed on BSE, with diversification stakes in renewables and a Dubai-based subsidiary.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 56 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 8.88 |
| ROE % · ROCE % | — · 25.1 |
| Debt / equity (x) | — |
| Cash from operations | 2 |
| Capex | (4) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 26 | 31 |
| Profit before tax | 2 | 3 |
| Net profit | — | — |
| EPS (₹) | 3.47 | 5.41 |
Exhibit 3: 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 | 32,380 | 26.0 | 2.48 | 13.7 | 9.5 | 11.6 | 7.2 | 24.5 |
| DELHIVERY LIMITED | 28,606 | 305.6 | 2.95 | 29.2 | 1.6 | 1.2 | — | 8.7 |
| SHADOWFAX TECHNOLOGIES L | 17,061 | 106.0 | 9.78 | 67.7 | 6.4 | 5.7 | — | 8.3 |
| BLUE DART EXPRESS LTD | 10,021 | 34.9 | 5.64 | 10.5 | 13.9 | 13.4 | 13.3 | 16.7 |
| TRANSPORT CORPN OF INDIA | 6,519 | 14.2 | 2.50 | 11.8 | 17.7 | 14.4 | 11.9 | 11.3 |
| TVS SUPPLY CHAIN SOL L | 4,874 | 75.6 | 2.36 | 6.0 | 5.7 | 4.8 | — | 7.2 |
| VRL LOGISTICS LIMITED | 4,688 | 17.6 | 4.10 | — | 20.7 | 14.5 | — | 21.9 |
| MAHINDRA LOGISTIC LIMITED | 4,309 | 116.4 | 3.59 | 11.0 | 0.9 | 2.0 | 16.5 | 6.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.1 | 15.6 | 2 of 51 | 98% |
| ROCE | 20.7 | 7.7 | 4 of 55 | 94% |
| Market cap | 13 | 119 | 52 of 56 | 7% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · BLT Logistics files SEBI quarterly demat compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · AGM voting results: both resolutions passed with 100 percent approval | compliance | minimal | — | — |
| 29 Sept 2026 · BLT Logistics 15th AGM held; FY26 financials adopted, CMD re-appointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1 for H1 FY26 Results | compliance | minimal | — | — |
| 5 Sept 2026 · BLT Logistics resubmits newspaper notice for 15th AGM, fixes DSC omission | compliance | minimal | — | — |
| 5 Sept 2026 · Newspaper publication of 15th AGM notice submitted to BSE | compliance | minimal | — | — |
| 5 Sept 2026 · BLT Logistics files FY2025-26 annual report and 15th AGM notice | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · 15th AGM on 29 Sep 2026; book closure from 23 to 29 Sep | board shareholder meetings | low | — | — |
| 5 Sept 2026 · BLT Logistics 15th AGM Notice - Meeting on 29 September 2026 via Video Conferencing | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper publication for 15th AGM notice and remote e-voting details | 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.