BSE: 544348
GB Logistics Commerce Limited
Operates as a logistics solution provider in the transport services industry, recording ₹205.816 crore in revenue in FY25 with a 6.974% EBITDA margin. Materials make up 60.7% of revenue, the dominant cost line, consistent with pass-through inputs such as fuel, freight, or subcontracted transport services that are typical for a logistics business. Employee cost is unusually low at 0.9% of revenue and other operating expenses at 1.3%, pointing to a lean in-house team that relies on outsourced execution. Capex was 3.3% of revenue in FY25, and the company is investing in physical warehousing: in January 2026 the Board approved in principle ₹7.21 crore for a plot of land and warehouse at Garamsur, Katol, Dist. Nagpur, to support business growth. For H1 FY26, consolidated revenue from operations was ₹6,811.86 lakhs and consolidated PAT was ₹710.39 lakhs, with the filing attributing the growth to the services segment; standalone H1 FY26 revenue was ₹2,865.35 lakhs and standalone PAT was ₹265.38 lakhs. The company is listed on BSE with total equity share capital of 81,94,448 shares of ₹10 each, and the new Executive Director and CFO appointed in October 2025 brings over 30 years of experience in logistics, supply chain management and business development. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Logistics services. Asset-light services business with high pass-through costs and low in-house employee cost
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 206 | 131 |
| EBITDA (ex other income) | 14 | 12 |
| margin % | 6.9 | 8.9 |
| Owners' profit | 0 | 9 |
| EPS, as reported (₹) | 14.33 | 22.06 |
| ROE % · ROCE % | 17.5 · 27.1 | 15.3 · 23.0 |
| Debt / equity (x) | 0.32 | 0.74 |
| Cash from operations | (11) | 6 |
| Capex | (7) | (6) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 155 | 68 | 63 |
| Profit before tax | 8 | 10 | 3 |
| Net profit | 6 | 7 | 2 |
| EPS (₹) | 9.92 | 8.67 | 4.72 |
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) | 0.9 | 15.6 | 1 of 51 | 100% |
| P/B | 0.3 | 1.5 | 1 of 40 | 100% |
| ROCE | 18.7 | 7.7 | 6 of 55 | 91% |
| ROE | 15.3 | 6.0 | 6 of 40 | 87% |
| Debt / Equity | 0.7 | 0.3 | 34 of 40 | 15% |
| EBITDA margin | 7.4 | 8.7 | 26 of 43 | 41% |
| Market cap | 16 | 119 | 49 of 56 | 13% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA compliance certificate for quarter ended September 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · All 6 resolutions passed at GB Logistics AGM with 100% approval | compliance | minimal | — | — |
| 30 Sept 2026 · AGM held; six resolutions passed including hike in authorised share capital | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closed ahead of Q2 FY26 results | compliance | minimal | — | — |
| 8 Sept 2026 · Notice of 6th AGM on Sept 30, 2026 with capital increase and director changes | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Notice of 6th AGM and Annual Report for FY 2025-26 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · GB Logistics files 6th AGM notice and FY25-26 Annual Report | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Book closure for AGM from Sept 24-30, 2026; no dividend declared | compliance | minimal | — | — |
| 7 Sept 2026 · Board approves 06th AGM on Sep 30, 2026 at Nagpur | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Board Meeting on 07 Sep 2026 to discuss AGM notice and director report | board shareholder meetings | low | — | — |
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.