💰 Financial Performance

Revenue Growth by Segment

The Household Transport segment grew 8.07% YoY to INR 164.55 Cr, while the Commercial Transport segment declined 40.12% YoY to INR 17.66 Cr. Overall revenue from operations grew 0.25% YoY to INR 182.20 Cr in FY 2024-25.

Geographic Revenue Split

The company derives a majority of its revenue from contracts with customers in India, though specific regional percentages are not disclosed.

Profitability Margins

Net Profit Margin improved significantly from 1.63% to 3.21% in FY 2024-25. Profit After Tax (PAT) grew 100.48% YoY to INR 6.01 Cr.

EBITDA Margin

Operating Profit Margin was reported at 0.04% for FY 2024-25, a decrease from 2.23% in the previous year, despite the increase in net profit and operational revenue.

Capital Expenditure

Historical depreciation for FY 2024-25 was INR 2.47 Cr. Specific planned capital expenditure for future periods is not disclosed in available documents.

Credit Rating & Borrowing

Finance costs decreased by 23.9% YoY to INR 0.38 Cr. The company maintains a low Debt-Equity ratio of 0.06, down from 0.23, following debt repayments.

⚙️ Operational Drivers

Raw Materials

Packaging Materials, Tyres, and Tubes are the primary materials maintained in inventory, which was valued at INR 0.18 Cr as of March 31, 2025.

Capacity Expansion

The company operates a large fleet of owned vehicles and a nationwide network of branch offices and warehouses, though specific expansion targets in units or INR are not disclosed.

Raw Material Costs

Operating expenses, which include fuel and materials, totaled INR 141.34 Cr in FY 2024-25, representing 77.5% of total revenue.

Manufacturing Efficiency

Not applicable as the company is a service provider; however, the Interest Coverage Ratio improved from 9.10 to 22.37, indicating high financial efficiency.

Logistics & Distribution

The company is a logistics provider; its nationwide presence includes branch offices, warehouses, and hubs across multiple cities to manage distribution.

📈 Strategic Growth

Expected Growth Rate

9.35%

Growth Strategy

The company aims to achieve growth by focusing on the high-margin household shifting segment (which grew 8.07% YoY), leveraging its 'Agarwal Packers and Movers' brand, and maintaining a large owned fleet to ensure service quality across its nationwide network.

Products & Services

Logistics services, packing and moving of goods (Packers and Movers), and commercial transportation.

Brand Portfolio

Agarwal Packers and Movers, DRS Group.

Market Expansion

The company maintains a nationwide presence with branch offices and warehouses, targeting growth in the Indian warehousing and logistics sector.

Strategic Alliances

Core Member of the International Association of Movers (IAM) and Indian Banks Association (IBA) approved transport operator.

🌍 External Factors

Industry Trends

The global logistics market is projected to grow at a 9.35% CAGR through 2033, driven by e-commerce, urbanization, and the adoption of outsourced logistics services.

Competitive Landscape

The company operates in a dynamic sector with significant growth in international trade flow and e-commerce logistics.

Competitive Moat

Durable advantages include the 'Agarwal Packers and Movers' brand recognition, IBA approval (essential for bank-related transport), and a World Book of Records entry for innovative van design.

Macro Economic Sensitivity

Highly sensitive to Indian macroeconomic conditions, GDP growth, and fuel price inflation, as a majority of revenue is derived from domestic contracts.

Consumer Behavior

Rising disposable incomes and rapid urbanization in India are driving demand for professional household shifting and packing services.

Geopolitical Risks

Increased tensions with neighboring countries and global trade ripple effects from reserve currency depreciation are cited as downside risks.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by ISO 9001:2015 Quality Management System standards and Indian Banks Association (IBA) operator requirements.

Environmental Compliance

The company identifies the disposal of packaging materials into landfills and waterways as an environmental concern requiring resource management.

Taxation Policy Impact

The company recorded a current tax expense of INR 2.29 Cr on a Profit Before Tax of INR 8.12 Cr for FY 2024-25, reflecting an effective tax rate of approximately 28%.

Legal Contingencies

The company received a notice from the National Stock Exchange (NSE) on October 30, 2025, levying a fine for a delay in compliance with Regulation 34 regarding the submission of the Annual Report.

⚠️ Risk Analysis

Key Uncertainties

Fuel price volatility and inflationary pressures on wages are the primary uncertainties that could impact the 3.21% net profit margin.

Geographic Concentration Risk

Revenue is heavily concentrated in the Indian market, making the company vulnerable to domestic political and macroeconomic changes.

Third Party Dependencies

The company has negligible dependence on external debt, though it relies on its nationwide network of branch offices for operational execution.

Technology Obsolescence Risk

The company has digitized and integrated its internal financial controls into business processes to mitigate reporting risks.

Credit & Counterparty Risk

Trade receivables stood at INR 20.20 Cr as of September 30, 2025; the Debtors Turnover ratio improved from 2.70 to 3.98, indicating better realization of receivables.