RITCO - Ritco Logistics

📊 NSE: RITCO 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 11:54

💰 Financial Performance

Revenue Growth by Segment

Not disclosed by segment; overall revenue grew 27% in FY25 and 40% YoY in Q1 FY26.

Geographic Revenue Split

Not disclosed by %; operates a Pan-India network across 300+ locations.

Profitability Margins

PBT margin grew as PBT increased 37.4% to INR 63.54 Cr in FY25; management targets sustaining an 8% margin.

EBITDA Margin

Not explicitly disclosed; however, PBT grew 37.4% YoY to INR 63.54 Cr in FY25, and depreciation increased 30.6% to INR 16.19 Cr.

Capital Expenditure

Not disclosed in absolute INR Cr; however, the company follows a non-asset based model for its core logistics operations.

Credit Rating & Borrowing

CARE Stable; gearing expected to remain below 1x; interest coverage ratio projected at 3-4x for FY26.

⚙️ Operational Drivers

Raw Materials

Fuel (Diesel) is the primary operational cost.

Import Sources

Sourced domestically within India.

Key Suppliers

Indian Oil Corporation (IOCL) and Hindustan Petroleum Corporation Limited (HPCL).

Capacity Expansion

Current warehousing capacity is 4.5 lakh sq. ft.; expansion plans include scaling the TrucksUp platform to 3,68,000+ registered trucks.

Raw Material Costs

Not disclosed as a specific % of revenue; however, fuel costs are managed through discount pass-throughs from HPCL/IOCL.

Manufacturing Efficiency

Not applicable as a service-based logistics provider.

Logistics & Distribution

Core business activity; distribution costs are the primary driver of the 8% margin target.

📈 Strategic Growth

Expected Growth Rate

25-28%

Growth Strategy

Transitioning from a logistics company to a complete supply chain company by 2026; scaling the TrucksUp digital platform with a revenue target of INR 15 Cr; expanding into high-growth sectors like Solar and increasing multimodal and 3PL service offerings.

Products & Services

Land-based logistics, 3PL (Third-Party Logistics), Warehousing, Multimodal Transport, In-Plant Operations, and Fleet Management.

Brand Portfolio

Ritco Logistics, TrucksUp.

New Products/Services

TrucksUp digital aggregation app; monetization has started with INR 1.75 Cr in Q1 FY26, targeting INR 15 Cr for the full year.

Market Expansion

Expansion into the Solar energy logistics sector and strengthening the Pan-India network of 300+ locations.

Market Share & Ranking

Not disclosed.

Strategic Alliances

Partnerships with Indian Oil and HPCL for fuel procurement and discount sharing with fleet operators.

🌍 External Factors

Industry Trends

The logistics industry is growing at 25-28% for organized players; shifting towards integrated supply chain solutions and digital fleet aggregation to counter fragmentation.

Competitive Landscape

Intense competition from numerous unorganized players and select organized segment specialists.

Competitive Moat

Durable advantage through a network of 3,68,000+ trucks on the TrucksUp platform and long-standing relationships with blue-chip clients, providing high barriers to entry for smaller competitors.