Ashwini Container Movers Ltd. (ASHWINI)
SME CapServices stocks · SME cap · NSE
Ashwini Container Movers Ltd. (ACML) is an asset-led 2PL operator focused on containerised cargo movement across India’s key EXIM corridors. The company leverages 100% owned fleet operations for consistent service delivery, margin control, and long-term customer relationships, positioning itself as a fleet-backed logistics platform.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Sept 2025
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹55 Cr | NDF | +19.6% |
| EBITDA | ₹19 Cr | NDF | NDF |
| Operating margin | 35.0% | NDF | NDF |
| PAT | ₹10 Cr | NDF | +100.0% |
| PAT margin | 18.2% | NDF | NDF |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Ashwini Container Movers reported robust H1FY26 results with Revenue of ₹54.90 Cr, EBITDA of ₹19.00 Cr (34.6% margin), and PAT of ₹9.91 Cr, demonstrating significant margin expansion and strong operational performance driven by its asset-led 2PL model.
ACML's asset-led 2PL model, focused on port-centric EXIM corridors, continues to deliver strong financial performance and margin expansion. Strategic entry into port terminal operations and disciplined capacity additions are expected to enhance revenue visibility and asset productivity, reinforcing the company's competitive positioning.
Targeted Capacity Expansion
Fleet growth is directly synchronized with visible demand from established port ecosystems and long-term B2B clients, ensuring high initial utilization.
Accelerated Vessel Velocity
Proactively driving higher container rotation frequencies and denser route clustering by optimizing dispatch planning to amplify earnings.
Entry into Port Terminal Operations
Secured a 4-year contracted order valued at ₹60 crore for intra-port logistics at JNPT, introducing stable revenue streams.
Structural Margin Expansion
Optimising cargo mix toward higher-margin specialised segments (e.g., reefer, hazardous) and improving return-trip planning.
Fleet Size Growth
Fleet size increased to 312 vehicles in H1FY26 from 266 in FY25, aligned with volume visibility.
JNPT Terminal Contract
Secured a 4-year contracted order valued at ₹60 crore for intra-port logistics operations at JNPT, deploying dedicated assets.
Structural Policy Support
Government programs like Sagarmala and Bharatmala are strengthening port and road connectivity, improving freight velocity.
Infrastructure Investment
₹50,000 crore investment in Multi-Modal Logistics Parks and ₹7.5 lakh crore infrastructure capex (PM GatiShakti FY23) reducing congestion.
Digitisation Initiatives
Digital initiatives (Parivahan Portal, E-Way Bill, Logistics Data Bank App) improving tracking visibility and reducing turnaround delays.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Full year financial trends (FY22-FY25) are best read YoY to understand long-term growth. H1FY26 results, while not directly comparable YoY without H1FY25 data, indicate strong sequential momentum and operational efficiency gains from the previous full year.
Fleet Size
Increased to 312 vehicles in H1FY26 from 266 in FY25.
Trip Days Per vehicle
Increased to 3.66 in H1FY26 from 3.46 in FY25.
No. Of containers Handled
Handled 13,681 containers in H1FY26, compared to 25,201 in FY25.
Avg Rate Per Container (₹)
Increased to 38.336 in H1FY26 from 37.348 in FY25.
Asset-led 2PL Model
ACML is positioned as a fleet-backed logistics platform rather than a traditional transport intermediary, delivering reliability through 100% fleet ownership.
Operational Leverage
Operating leverage improves margins as scale increases, with cash flows reinvested into fleet expansion and balance sheet strength.
Port-Centric Strategy
Operates through a structurally differentiated port-centric logistics model at JNPT and Hazira, India’s most important containerized trade hubs.
Technology as Enabler
Implemented a customized operational platform to enhance real-time fleet visibility, route planning discipline, and preventive maintenance scheduling.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Fleet Utilization | Trip Days Per vehicle at 3.66 in H1FY26. | Continued improvement in trips per vehicle and reduced idle time to drive operating leverage. |
| EBITDA Margin | 34.6% in H1FY26. | Sustained margin expansion through route density optimisation and higher-margin cargo mix. |
| Contracted Revenue | ₹60 crore 4-year contract at JNPT. | Execution and ramp-up of port terminal operations to secure stable revenue streams. |
| Debt-Equity Ratio | 2.51% in H1FY26. | Management's ability to manage borrowings effectively while funding fleet expansion. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
44NeutralSMA20 -4.0% / mo · MACD −
Technical chart
ASHWINIdaily · 1Y · AUTO+22.1%Daily history is available from 2025-12-19; the requested 1Y window is partially covered.
Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 39.
- SMA20 falling (~4.1% over last month) — short-term momentum negative.
- RSI(14) at 39 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 18% off 52W high · 50% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 61 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 61 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 40.1%.
- Quality contributes 20/20 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Balance sheet is weaker at 4/15; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -1 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 73rd percentile within Services. Main check: cash conversion is weak at 53/100.
Healthy Trust Lite: Promoter holding is 66.7%. Key concern: Debt/equity is 3.00.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Services: 73rd pctile, median 66 · SME: 81st pctile, median 64
1 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 66.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.7%.
- ▸ROCE is 24.1%.
Trust risks
- ▸Debt/equity is 3.00.
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 17.60
- P/B
- —
- EV/EBITDA
- 10.09
- Market Cap
- 270.00Cr
Profitability
- ROE
- 72.00%
- ROCE
- 24.10%
- ROA
- 10.89%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 17.46%
- EPS 5Y
- 122.40%
- Revenue 3Y
- 17.00%
- EPS 3Y
- 131.00%
Balance Sheet
- Debt/Equity
- 3.00
- Interest Coverage
- 5.00×
- Altman Z
- 4.00
- Book Value
- —
Cash Flow
- FCF Yield
- 0.74%
- FCF Positive Y
- 1/5
- OCF
- 20.00 Cr
- EPS TTM
- 11.45
Shareholding
- Promoter Hold
- 66.67%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 60%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Services, ranked by similarity
Peers
Business-comparable names in Services, ranked by similarity
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.