Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Exim Routes Ltd. (EXIMROUTES)
SME CapIndustrials stocks · SME cap · NSE
Exim Routes Ltd. (EXIMROUTES) is an Indian listed company. The provided document is a cover letter for an investor presentation and contains no further company description or operational details.
₹88
-2.00 · -2.22%
Market cap ₹165 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result01 Jun, 07:49 pm IST
Score20 Oct, 04:19 pm IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
46NeutralSMA20 -15.1% / mo · MACD + · near 52W low
Stock trend: 44
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
EXIMROUTESD candles · FIT view-33.2%Latest close ₹88.00 on 2026-10-19
Daily history is available from 2025-12-19; the requested 1Y window is partially covered.
Bar
-2.2%
RSI
41
MACD hist
0.47
52W pos
3%
2026-10-19O ₹90.00H ₹90.00L ₹88.00C ₹88.00Vol 1,600 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
EXIMROUTESNifty India ManufacturingNifty 500
- EXIMROUTES
- -20.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -14.4 pp
Chart stats
19 Oct 2026- From 52W high
- -68.8%
- 52W range position
- 3%
- ATR (14)
- 5.7%
- Volume vs 20D
- 0.07x
- Avg traded value
- ₹0.2 Cr
- 20D price channel
- ₹82 - ₹106.1
₹281.9
₹82 - ₹281.9
₹5
Latest completed session
20-session average
75.0% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE57
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral46
Price trend and sector-relative-strength timing.
Valuation
Legacy model+59.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence65
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹114 Cr | NDF | +22.6% |
| EBITDA | ₹10 Cr | NDF | +150.0% |
| Operating margin | 9.0% | NDF | +510 bps |
| PAT | ₹7 Cr | NDF | +133.3% |
| PAT margin | 6.1% | NDF | +291 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 16.10
- P/B
- 2.40
- EV/EBITDA
- 12.93
- Market Cap
- 165.00Cr
Profitability
- ROE
- 22.80%
- ROCE
- 26.20%
- ROA
- 9.26%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 125.00%
- EPS 5Y
- 190.00%
- Revenue 3Y
- 78.00%
- EPS 3Y
- 203.00%
Balance Sheet
- Debt/Equity
- 0.24
- Interest Coverage
- 7.00×
- Altman Z
- 5.81
- Book Value
- 36.70
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -19.00 Cr
- EPS TTM
- 5.48
Shareholding
- Promoter Hold
- 52.83%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 3%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 114+22.6% vs prev
Net Profit
₹ CrLatest: 7.0+133.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 41.
- SMA20 falling (~17.8% over last month) — short-term momentum negative.
- RSI(14) at 41 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 69% off 52W high · 7% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
12
RS percentile
Stage 4 Downtrend
1M return
-11.3%
3M return
-20.0%
6M return
-40.3%
1Y return
-
RS 1D
-4
RS 20D
+2
Sector rank
#2
Industry rank
-
Stage evidence
- Price is 25.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -8.5%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
unranked
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
193 observations
19 Oct 2026Value 81.85-1.21%
RS vs Nifty 50082
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation15/30
Growth25/25
Quality13/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
5/9 (+3)
Penalties
-7
Raw sum
57
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
57/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 59.1%.
- Growth contributes 25/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 15/30; verify the latest quarterly trend.
Sector valuation model
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.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
16.1
PB
2.4
EV/EBITDA
12.9
ROE
22.8%
ROCE
26.2%
FCF Yield
—
Debt/Equity
0.2
MoS
+59.1%
Score movement
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.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
57
Previous: 57
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+59.1%
Previous: +59.1%
Score history
12 stored score snapshots. Latest stored move: +1 points.
20 Oct 2026
v4.3-runtime-valuation
57
57
57
56
56
56
56
56
56
56
56
57
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹67.27
-30.8% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹215.36
+59.1% MoS
PEG
0.08
Comparable companies
Peers
Business-comparable peers in Industrials — 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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
JAYESH
SME
Jayesh Logistics Ltd.
Logistics
match 72
62
10.8
29.0%
+59%
UNDERVALUED
ZEAL
SME
Zeal Global Services Ltd.
Logistics
match 71
61
8.4
12.8%
+69%
UNDERVALUED
DRSDILIP
SME
DRS Dilip Roadlines Ltd.
Logistics
match 71
12
34.5
7.7%
-111%
OVERVALUED
PRLIND
SME
Premier Roadlines Ltd.
Logistics
match 71
46
6.8
14.4%
-104%
FAIR VALUE
ASHALOG
SME
Ashapura Logistics Ltd.
Logistics
match 71
52
9.1
6.7%
+66%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-07-06T07:29:55.908Z
Management commentary snapshot
Q4 FY26 results presentation submitted, but no financial or operational results are disclosed in the provided document.
The provided document is merely a cover letter for an investor presentation. It contains no financial results, operational KPIs, management commentary, or future outlook, making any assessment of the investment thesis impossible based on this document.
Management accountability
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.
Analyst reading lens
Compare YOY
The provided document is a cover letter and does not contain any financial or operational data to establish a relevant comparison basis (YoY, QoQ, or Both).
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
65Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 45th percentile of the scored universe and 44th percentile within Industrials. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
2 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
45th percentile
overall median 67 · Industrials: 44th pctile, median 68 · SME: 56th pctile, median 64
Evidence depth
Financial-only
2 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read 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.
Promoter
78
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
80
strong · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸ROCE is 25%.
Trust risks
- ▸Operating cash flow is negative at ₹-19 Cr.
- ▸Only 0 years of positive FCF.
- ▸ROCE trend is -28%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Exim Routes Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Credit ratingApr 2026
Apr 2026 · Credit Rating 13 April 2026 - CARE Ratings assigned Exim Routes issuer rating CARE BB+; Stable on 13 April 2026.
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.