BSE: 506178
Velox Shipping and Logistics L
Operates as a freight contracting, shipping agency and logistics services holding company, built up through a series of acquisitions in FY26 after renaming from Velox Industries Limited. Consolidated revenue jumped from Rs. 25 lakh in FY25 to Rs. 2,089.53 lakh in FY26, almost entirely because of newly consolidated subsidiaries: 98%-owned Anchorage Shipping (effective December 2025) and 98%-owned US-based International Logistics Associates LLC, a freight contracting and shipping agency firm (effective January 2026). The standalone parent contributed only Rs. 330.45 lakh of total income in FY26, with the rest coming from these subsidiaries and their cost of services of Rs. 1,889.07 lakh. The company has signed amendment agreements to take roughly 80.56% of Divinus Express Logistics (an Indian logistics firm with FY25 turnover of Rs. 15.12 crore) and about 68.78% of Seaman Logistics Solutions (FY25 turnover of Rs. 50.88 crore), with the remaining stakes to be acquired over three years. Employee cost is 7.6% of revenue and other operating expenses (largely the freight cost of services) run at 100.4% of revenue, leaving the consolidated entity with a Rs. 73.28 lakh loss in FY26 versus a Rs. 43.94 lakh profit the year before. Capex was 7.9% of revenue, and the company has raised Rs. 8.5 crore by allotting 2.83 crore convertible warrants at Rs. 12 each to non-promoter investors. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Freight contracting and shipping agency (subsidiary International Logistics Associates LLC), Logistics services via Anchorage Shipping, Standalone operations (parent entity). Small, recently renamed BSE-listed shell-style holding company rolling up freight, shipping agency and logistics subsidiaries; revenue scale has jumped but the consolidated entity is loss-making.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 21 |
| EBITDA (ex other income) | (2) |
| margin % | (8.0) |
| Owners' profit | (1) |
| EPS, as reported (₹) | (0.89) |
| ROE % · ROCE % | (8.0) · (3.4) |
| Debt / equity (x) | 0.97 |
| Cash from operations | (3) |
| Capex | (2) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 3 | 17 |
| Profit before tax | 1 | (2) |
| Net profit | 1 | (2) |
| EPS (₹) | 0.70 | (2.05) |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 2.2 | 0.9 | 108 of 150 | 28% |
| ROCE | (4.0) | 2.1 | 152 of 177 | 14% |
| ROE | (8.0) | 2.3 | 137 of 158 | 13% |
| Debt / Equity | 1.0 | 0.1 | 130 of 154 | 16% |
| EBITDA margin | (8.4) | 4.5 | 116 of 137 | 15% |
| Market cap | 20 | 21 | 94 of 179 | 48% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Appointment of Mr. Omkar Prakash Kulkarni as Company Secretary and Compliance Officer | management changes | medium | — | — |
| 15 Oct 2026 · Allots 56.31 lakh equity shares on warrant conversion; receives Rs 5.06 crore | fund raising | high | — | — |
| 15 Oct 2026 · Board allots 56.31 lakh shares on warrant conversion; appoints new CS | board shareholder meetings | low | — | — |
| 15 Oct 2026 · Compliance certificate for Q2 FY27 - no dematerialization requests | compliance | minimal | — | — |
| 1 Oct 2026 · Velox terminates proposed 98% acquisition of Dubai shipping entity | strategic transactions | high | — | — |
| 1 Oct 2026 · 43rd AGM voting results - all 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 1 Oct 2026 · 43rd AGM: All 4 resolutions passed unanimously | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · 43rd AGM held; 4 resolutions tabled on accounts, director re-appointment and Section 185/186 loans | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closed for Q2 FY27 results period | compliance | minimal | — | — |
| 8 Sept 2026 · AGM notice published; 43rd AGM on September 30, 2026 | 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.