BSE: 544663
NEPTUNE LOGITEK LIMITED
Provides logistics services from Gandhidham in Kutch, Gujarat, a port region, and earns revenue from export-import and shipping-related activities. Following its 22 December 2025 listing on the BSE SME platform, the company is expanding its logistics footprint: a wholly owned subsidiary, Neptune Maritime Private Limited, has been approved to offer freight forwarding by sea, rail and road, and a proposed 51% acquisition of Devanshi Tradables Private Limited, an import-export trading firm, is in process. FY26 revenue from operations stood at Rs 23,371.10 lakhs, down about 9% from Rs 25,725.39 lakhs in FY25, with profit after tax at Rs 628.84 lakhs versus Rs 667.05 lakhs. The cost base is services-led: materials are nil as a share of revenue, employee costs are 2.7%, and other operating expenses account for 90.2% of revenue. The H2 FY26 half was sharply weaker than H1, with revenue falling to Rs 10,825.63 lakhs and PAT to Rs 175.38 lakhs (from Rs 12,545.47 lakhs and Rs 453.46 lakhs in H1), and the company attributed this to Middle East geopolitical tensions disrupting shipping and export-import trade in March 2026. IPO proceeds of Rs 46.62 crore have been almost fully deployed, mainly into machinery and loan repayment, against outstanding borrowings of Rs 52.90 crore as of 31 March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Logistics services, Freight forwarding (planned via subsidiary), Import-export trading (planned via subsidiary). Services-led, asset-moderate logistics business with direct exposure to export-import trade flows and shipping cycles.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 234 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 4.59 |
| ROE % · ROCE % | — · 15.7 |
| Debt / equity (x) | — |
| Cash from operations | 5 |
| Capex | (30) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 125 | 108 |
| Profit before tax | 7 | 3 |
| Net profit | — | — |
| EPS (₹) | 4.53 | 1.28 |
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) | 5.6 | 15.6 | 6 of 51 | 90% |
| ROCE | 10.1 | 7.7 | 21 of 55 | 63% |
| Market cap | 45 | 119 | 42 of 56 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Independent director appointed and board committees reconstituted | management changes | medium | — | — |
| 23 Oct 2026 · Sharvil Suthar appointed independent director; key committees reconstituted | management changes | medium | — | — |
| 23 Oct 2026 · Independent director appointed and board committees reconstituted | management changes | medium | — | — |
| 15 Oct 2026 · Routine SEBI compliance certificate for Q2 FY27 dematerialization | compliance | minimal | — | — |
| 15 Oct 2026 · BSE imposes Rs 11,800 fine on Neptune Logitek for late voting results filing | regulatory legal | medium | — | — |
| 29 Sept 2026 · CRISIL assigns BB/Stable rating on 70 Crore bank loan facilities | credit debt | medium | — | — |
| 25 Sept 2026 · Independent Director Mr. Mukesh Bafna resigns from Neptune Logitek | management changes | medium | — | — |
| 21 Sept 2026 · Neptune Logitek expands business scope to include IT and software solutions | general | medium | — | — |
| 21 Sept 2026 · Neptune Logitek expands business scope to include IT and software solutions | general | medium | — | — |
| 21 Sept 2026 · Neptune Logitek 14th AGM held on Sept 21, 2026; four resolutions considered | 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.