Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Pranik Logistics Ltd. (PRANIK)
SME CapServices stocks · SME cap · NSE
Pranik Logistics is a B2B logistics company offering transportation and warehousing services. It operates with a mix of owned (150+ vehicles) and contractual (600+ vehicles) fleet, managing 17 lakh sq ft of leased warehousing space and 40+ hubs across multiple states including the Northeast.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result16 Aug, 12:47 am IST
Score20 Oct, 05:22 pm IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · MACD − · near 52W low
Stock trend: 31
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
PRANIKD candles · FIT view-34.7%Latest close ₹39.95 on 2026-10-19
Bar
-0.1%
RSI
45
MACD hist
-0.30
52W pos
6%
2026-10-19O ₹40.00H ₹40.00L ₹39.35C ₹39.95Vol 20,800 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
PRANIKNifty 500
- PRANIK
- -9.2%
- Nifty 500
- -5.6%
- Vs Nifty 500
- -3.6 pp
Chart stats
19 Oct 2026- From 52W high
- -57.0%
- 52W range position
- 5%
- ATR (14)
- 5.8%
- Volume vs 20D
- 2.18x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹37.2 - ₹49
₹92.9
₹37 - ₹92.9
₹2.3
Latest completed session
20-session average
113.3% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · UNDERVALUED73
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average42
Revenue +28.5% · PAT +5.7% YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model+76.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
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 30 Jun 2026
Average · 42/100margin compression · Rev +28% YoY · PAT +6% YoY · +10% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹50.3 Cr | +28.5% | +10.1% |
| EBITDA | ₹4.6 Cr | +27.1% | +1.3% |
| Operating margin | 9.2% | -10 bps | -80 bps |
| PAT | ₹2 Cr | +5.7% | +0.5% |
| PAT margin | 4.0% | -88 bps | -39 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 6.15
- P/B
- 0.98
- EV/EBITDA
- 4.14
- Market Cap
- 44.00Cr
Profitability
- ROE
- 17.00%
- ROCE
- 17.10%
- ROA
- 7.29%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 51.00%
- EPS 5Y
- 108.00%
- Revenue 3Y
- 38.00%
- EPS 3Y
- 96.00%
Balance Sheet
- Debt/Equity
- 0.96
- Interest Coverage
- 5.33×
- Altman Z
- 3.51
- Book Value
- 40.80
Cash Flow
- FCF Yield
- 2.27%
- FCF Positive Y
- 4/5
- OCF
- 17.00 Cr
- EPS TTM
- 6.49
Shareholding
- Promoter Hold
- 73.76%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 6%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 160+52.4% vs prev
Net Profit
₹ CrLatest: 7.0+16.7% vs prev
Return on Equity
%Latest: 15.6-1.5% vs prev
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
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 45. Wait for confirmation.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 45 — rising, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 53% off 52W high · 8% 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
16
RS percentile
Stage 4 Downtrend
1M return
+0.1%
3M return
-19.5%
6M return
-34.9%
1Y return
-
RS 1D
-10
RS 20D
+7
Sector rank
#12
Industry rank
#40
Stage evidence
- Price is 19.0% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -8.7%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
169 observations
19 Oct 2026Value 55.41-3.20%
RS vs Nifty 50055
Valuation & peers
U-Score 73 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 73 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation30/30
Growth21/25
Quality9/20
Balance Sheet9/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
-7
Raw sum
73
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
73/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 76.8%.
- Valuation contributes 30/30 to the score.
Main drags
- Penalty bucket subtracts 7 points.
- Quality is weaker at 9/20; verify the latest quarterly trend.
- Balance sheet is weaker at 9/15; 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
6.2
PB
1.0
EV/EBITDA
4.1
ROE
17.0%
ROCE
17.1%
FCF Yield
2.3%
Debt/Equity
1.0
MoS
+76.8%
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
73
Previous: 73
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+76.8%
Previous: +76.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
73
73
73
73
73
73
73
73
73
73
73
73
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
₹77.19
+48.2% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹172.31
+76.8% MoS
PEG
0.06
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TIMESCAN
SME
Timescan Logistics (India) Ltd.
Logistics
match 90
73
4.5
21.2%
+82%
UNDERVALUED
KLL
SME
Kaushalya Logistics Ltd.
Logistics
match 86
67
6.3
18.2%
+77%
UNDERVALUED
DECCANTRAN
SME
Deccan Transcon Leasing Ltd.
Logistics
match 85
15
29.7
1.7%
-613%
OVERVALUED
MARINETRAN
SME
Marinetrans India Ltd.
Logistics
match 83
12
117.0
1.5%
-292%
OVERVALUED
ZEAL
SME
Zeal Global Services Ltd.
Logistics
match 82
61
8.4
12.8%
+69%
UNDERVALUED
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 2026-08-21T08:14:14.747Z
Management commentary snapshot
FY26 revenue grew 51% YoY to 161 crores, but PAT increased minimally by 9% to 7.03 crores. This was attributed to a significant rise in depreciation (4.97 cr vs 2.80 cr) and increased expenses for capacity building. EPS grew from 5.85 to 6.39.
While revenue growth is strong, the disproportionately low PAT growth and declining EBITDA margins are concerning. Management's explanation for higher depreciation and B2B pricing pressure is noted. The significant increase in debtor days, despite management's claim of 90 days, suggests working capital strain. The 500 crore revenue target by 2030 requires sustained high growth.
Current business mix
Revenue by Vehicle Sourcing
Latest issuer-disclosed distribution across 2 reported categories.
Owned Vehicles25.0%
Market Hired Vehicles75.0%
Growth engines
Capacity Building & Expansion
Company is preparing for further expansions and capacity building for more growth in different states, enhancing ground team and manpower.
Warehousing & Hub Network Growth
Warehousing capacity increased to 17 lakh sq ft and operating 40 hubs, including new hubs with Flipkart and expansion into Northeast and Jharkhand.
Manpower Providing Services
Added manpower providing as an add-on service to existing logistics, targeting ~5% margin, not a new business line.
Capacity and execution
Vehicle Fleet Additions
Purchased few vehicles in H2 FY26, leading to higher depreciation. Planning more fleet additions if a long-term leasing deal is finalized.
Warehousing & Hub Expansion
Grew warehousing capacity to 17 lakh sq ft and operating 40 hubs. Started operations in Northeast (Guwahati, Itanagar) and parts of Jharkhand.
Tailwinds
Fuel Price Pass-Through
Contracts clearly mention compensation for fuel price increases (e.g., every 3 rupees increase), resulting in zero impact on the company.
Expected Economic Boost in West Bengal
Expect more industries to come into West Bengal, giving a kick start and more ahead to running in terms of logistics services.
Headwinds
B2B Pricing Pressure
In B2B, with increased volumetric business, there is negotiation on price, meaning a 50% rise in revenue does not mean a 50% rise in PAT.
Weather Disruptions
Weather disruptions and flooding in West Bengal impacted Q3 FY26 turnover.
Risk radar
Increasing Debtor Days
Analyst calculates debtor days at 125 for FY26 (up from 106 in FY25), despite management's claim of 90 days, indicating potential working capital strain.
Declining Profitability
EBITDA margins declined from 11% to 9% YoY, and PAT growth is minimal despite significant revenue growth, partly due to B2B pricing and capacity expenses.
High Depreciation Impact
Depreciation rose significantly due to WDV method and new vehicle purchases, directly impacting reported PAT. Company is considering changing accounting policies.
Increased Debt Levels
Debt levels have increased due to asset purchases (vehicles) and working capital requirements, though management states assets increased in greater proportion.
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 BOTH
YoY comparison is essential for assessing annual financial performance and growth trends. QoQ is relevant for understanding sequential momentum, especially regarding debtor days and the impact of seasonal factors like Q3 weather disruptions.
Sector KPIs management disclosed
Revenue (FY26)
Total revenue stood at 161 crores, compared to 106 crores in the previous financial year.
PAT (FY26)
PAT was 7.03 crores, compared to 6.44 crores in the previous financial year.
Depreciation (FY26)
Depreciation rose to 4.97 crores, compared to 2.80 crores in the previous financial year, impacting PAT.
Owned Vehicle Utilization
Overall utilization of the 150 owned vehicles is close to 98.7%.
Management forward view
No Equity Raise Planned
Not planning to raise any equity as of now. Debt increase is due to asset purchases and CC limit collateral.
Targeting 500 Crore Top Line by 2030
The 500 crore top line target for 2030 stands intact, with the company aggressively working towards it and growing roughly 50% annually.
Considering Depreciation Policy Change
Company is planning to look into changing accounting policies for depreciation to level up disparity and provide better clarity.
Positive Growth Outlook
With the start of the year, management sees a very positive further growth, expecting to grow in a similar manner as last year.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Debtor Days | Analyst calculated 125 days (FY26), management claims 90 days. | Stabilization or reduction towards management's stated 90-day mark. Any further increase would signal worsening working capital management. |
| EBITDA Margin | 9% (FY26) down from 11% (FY25). | Reversal of the declining trend and expansion as scale increases, or further compression due to B2B pricing pressures. |
| Depreciation Policy Change | Company is planning to look into changing accounting policies. | Announcement and implementation of a new depreciation policy and its impact on reported PAT and financial clarity. |
| Revenue Growth towards 2030 Target | FY26 revenue 161 crores, target 500 crores by 2030. | Sustained annual growth of ~50% to meet the stated 500 crore top line target by 2030. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
76Limited 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 81st percentile of the scored universe and 87th percentile within Services. Main check: financial discipline is weak at 58/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Services: 87th pctile, median 66 · SME: 96th pctile, median 64
Evidence depth
Financial-only
6 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
Can support position sizing if valuation and trend also agree.
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
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
58
watch · capital discipline
Results
80
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 73.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.2%.
- ▸4 years of positive FCF.
Trust risks
- ▸ROCE trend is -6.2%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Pranik Logistics Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2026
Jul 2026 · Shareholders meeting 15 July 2026 - Annual report and notice for 12th AGM on 6 August 2026 dispatched electronically.
Source: Nse
Annual reportMar 2026
Jul 2026 · Copy of Newspaper Publication 16 Jul - Newspaper publication confirms dispatch of 12th AGM notice and 2025-26 annual report on 16 July 2026.
Source: Nse
Annual reportMar 2026
Jul 2026 · General Updates 15 July 2026 - Pranik Logistics AGM scheduled for 6 August 2026; annual report and e-voting details shared.
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Concall transcriptAug 2025
Aug 2025 · Transcript
Source: Nse
Investor presentationAug 2025
Aug 2025 · PPT
Source: Nse
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.