BSE: 544156
Gconnect Logitech and Supply C
Operates as a logistics solution provider in India's transport services sector, listed on the BSE SME platform and based in Bhavnagar, Gujarat. FY26 revenue stood at Rs. 4.04 crore, down 12.9% from Rs. 470.36 lakh in FY25. The cost base is dominated by materials and direct service expenses at 74.6% of revenue, with employee costs at 6.0% and other operating expenses at 1.4%. The company carries no capex spend in FY26. FY26 profit before tax was Rs. 31.69 lakh and total comprehensive income was Rs. 21.78 lakh. The board approved a preferential equity issue of about Rs. 11.87 crore in March 2026 to 17 allottees, with the promoter group taking its holding from about 40.27% to roughly 78.22% post-issue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Logistics services. Small-scale, services-led logistics provider with high direct cost intensity and no capex
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 4 | 5 | 4 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 1.19 | 1.19 | 0.59 |
| ROE % · ROCE % | — · 8.2 | — · 4.8 | — · 3.6 |
| Debt / equity (x) | — | — | — |
| Cash from operations | (2) | (2) | 1 |
| Capex | — | (4) | (0) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 3 | 2 | 3 | 2 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 |
| Net profit | — | — | — | — | — |
| EPS (₹) | 0.06 | 0.46 | 0.29 | 0.43 | 0.15 |
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) | 8.0 | 15.6 | 11 of 51 | 80% |
| ROCE | 3.3 | 7.7 | 39 of 55 | 30% |
| Revenue growth | (19.1) | 9.5 | 38 of 42 | 10% |
| Market cap | 4 | 119 | 55 of 56 | 2% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Reg 74(5) compliance certificate for Q2 FY27 filed with BSE | compliance | minimal | — | — |
| 8 Oct 2026 · Book closure and record date notice for 04th AGM | board shareholder meetings | low | — | — |
| 8 Oct 2026 · Book closure and record date set for 04th Annual General Meeting | corporate actions | low | — | — |
| 8 Oct 2026 · Gconnect Logitech files FY26 Annual Report; PAT dips to Rs 21.78 lakh | compliance | low | — | — |
| 8 Oct 2026 · AGM notice: name change, capital hike, office shift to Maharashtra | board shareholder meetings | low | — | — |
| 3 Oct 2026 · Name change, office shift to Maharashtra, pivot to steel and metals | corporate actions | medium | — | — |
| 3 Oct 2026 · Board approves name change to Sheth Eba Global, shift to steel business | corporate actions | medium | — | — |
| 3 Oct 2026 · Name change, office shift, and new steel business objects approved | corporate actions | medium | — | — |
| 3 Oct 2026 · Name change, office shift to Maharashtra, pivot to metals business | corporate actions | medium | — | — |
| 3 Oct 2026 · Board approves name change, office shift, and business pivot to steel | general | medium | — | — |
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.