Annual report
Annual Report 2026
Source: Nse
S J Logistics (India) Ltd. (SJLOGISTIC)
SME CapServices stocks · SME cap · NSE
S J Logistics (India) Ltd. is an end-to-end logistics and supply chain services provider, incorporated in 2003. It specializes in freight forwarding, custom clearance, multimodal transport, and project cargo, particularly oversized and high-value shipments, with global operations across 30+ countries and 6 continents.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result01 Jun, 08:55 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -3.5% / mo · MACD +
Stock trend: 41
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
SJLOGISTICD candles · FIT view+2.7%Latest close ₹316.90 on 2026-10-19
Bar
-1.0%
RSI
51
MACD hist
1.33
52W pos
39%
2026-10-19O ₹320.05H ₹325.00L ₹313.15C ₹316.90Vol 12,500 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
SJLOGISTICNifty 500
- SJLOGISTIC
- -0.9%
- Nifty 500
- -5.6%
- Vs Nifty 500
- +4.6 pp
Chart stats
19 Oct 2026- From 52W high
- -31.0%
- 52W range position
- 39%
- ATR (14)
- 3.4%
- Volume vs 20D
- 0.57x
- Avg traded value
- ₹0.7 Cr
- 20D price channel
- ₹295 - ₹326.5
₹459
₹225.4 - ₹459
₹10.7
Latest completed session
20-session average
29.1% 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
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE80
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +120.8% · PAT +230.8% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model+75.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
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
Excellent · 100/100Rev +121% YoY · PAT +231% YoY · margin expansion · +31% QoQ · operating leverage
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹371 Cr | +120.8% | +31.1% |
| EBITDA | ₹69 Cr | NDF | +35.3% |
| Operating margin | 19.0% | NDF | +100 bps |
| PAT | ₹43 Cr | +230.8% | +34.4% |
| PAT margin | 11.6% | NDF | +28 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 6.57
- P/B
- 1.59
- EV/EBITDA
- 4.84
- Market Cap
- 498.00Cr
Profitability
- ROE
- 29.10%
- ROCE
- 32.50%
- ROA
- 15.80%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 69.63%
- EPS 5Y
- 111.79%
- Revenue 3Y
- 69.00%
- EPS 3Y
- 115.00%
Balance Sheet
- Debt/Equity
- 0.39
- Interest Coverage
- 7.50×
- Altman Z
- 4.93
- Book Value
- 198.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 21.00 Cr
- EPS TTM
- 49.57
Shareholding
- Promoter Hold
- 50.81%
- Promoter Pledge
- 39.80%
- Momentum 52W
- 38%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 654+30.3% vs prev
Net Profit
₹ CrLatest: 76.0+46.2% vs prev
Return on Equity
%Latest: 25.1+4.7% 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 down. RSI 51. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~3.6% over last month) — short-term momentum negative.
- RSI(14) at 51 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 31% off 52W high · 41% 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
55
RS percentile
Stage 1 Base / Transition
1M return
+0.9%
3M return
-0.9%
6M return
-1.7%
1Y return
-9.7%
RS 1D
+1
RS 20D
+9
Sector rank
#12
Industry rank
#40
Stage evidence
- Price is within 0.4% of the 30-week proxy.
- The 30-week proxy changed +0.9% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 86.03-0.51%
RS vs Nifty 50086
Valuation & peers
U-Score 80 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 80 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation29/30
Growth24/25
Quality18/20
Balance Sheet6/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
-3
Raw sum
80
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
80/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 75.9%.
- Valuation contributes 29/30 to the score.
Main drags
- Promoter pledge is 39.8%.
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 1/10; 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
6.6
PB
1.6
EV/EBITDA
4.8
ROE
29.1%
ROCE
32.5%
FCF Yield
—
Debt/Equity
0.4
MoS
+75.9%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
80
Previous: 80
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+75.9%
Previous: +75.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
80
80
80
80
80
80
80
80
80
80
80
80
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
₹469.93
+32.6% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹1,316.08
+75.9% 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
BLUEWATER
SME
Blue Water Logistics Ltd.
Logistics
match 87
63
16.6
49.8%
+35%
UNDERVALUED
COMMITTED
SME
Committed Cargo Care Ltd.
Logistics
match 87
42
43.4
13.7%
+1%
WATCHLIST
OLIL
SME
Oneclick Logistics India Ltd.
Logistics
match 86
21
114.0
5.5%
-322%
OVERVALUED
KLL
SME
Kaushalya Logistics Ltd.
Logistics
match 84
67
6.3
18.2%
+77%
UNDERVALUED
ZEAL
SME
Zeal Global Services Ltd.
Logistics
match 84
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 intactReviewed 2026-10-01T00:50:34.842Z
Management commentary snapshot
Q2 FY26 consolidated revenue grew 26.5% YoY to INR 15,713.6 Lacs, with PAT up 42.5% YoY to INR 1,812.2 Lacs. H1 FY26 saw NVOCC revenue surge 1,427% YoY, driving overall H1 revenue up 25.8% and PAT up 38.1%.
The company demonstrates strong financial growth, particularly in its NVOCC division, which is a key strategic focus. Expansion into direct vessel operations and planned warehousing additions indicate continued investment in capabilities. While the asset-light model offers flexibility, the significant increase in borrowings warrants monitoring.
Current business mix
H1 FY26 Revenue by Service Offering
Latest issuer-disclosed distribution across 3 reported categories.
Ocean Cargo86.1%
NVOCC11.3%
Air Cargo2.6%
Growth engines
Direct Vessel Operations
Commenced own vessel operations under S J Logisol Shipping LLC (Dubai) with the Suez Express Service, connecting India with Gulf, Red Sea, and Mediterranean.
NVOCC Expansion
Expanded global liner network across Middle East, Red Sea, Mediterranean, and African regions, supported by strategic partnerships.
Warehousing & Infrastructure Footprint
Plans to acquire rights over large, multi-user warehouses in key logistics hubs across India to offer integrated warehousing and distribution.
Project Cargo Focus
Expanding project cargo vertical by leveraging operational expertise, technical know-how, and shipping line relationships for specialized, high-value logistics.
Capacity and execution
Direct Vessel Operations Commencement
Newly launched Vessel Operations vertical commenced between 2nd & 5th November (Q3 FY26) with twin 904 TEU Container Vessels.
Warehousing Expansion Plans
Company plans to acquire rights over large, multi-user warehouses in key logistics hubs across India.
Tailwinds
Global Logistics Market Growth
Projected to reach US $14.08 trillion by 2028 at a CAGR of 5.9%, driven by digitization, trade shifts, and e-commerce.
Indian Logistics Sector Growth
Market expected to reach ₹30+ lakh crore (US$380B) by 2025, supported by government initiatives like GatiShakti and National Logistics Policy.
Rising 3PL/4PL Penetration
3PL/4PL penetration is rising at an 8-10% CAGR, expected to reach US$ 90–100Bn by 2027, offering opportunities for end-to-end multimodal solutions.
Headwinds
Sector Fragmentation
80% of the Indian logistics sector is unorganized, with low digitization and transparency.
Inefficient Modal Mix
Excessive reliance on road transport leads to higher cost per ton-km compared to other modes.
High Dwell Time at Ports
Dwell time at Indian ports is 2–3x that of global benchmarks, impacting efficiency.
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 crucial for assessing overall business growth and accounting for potential seasonality in logistics. QoQ comparison is important for tracking sequential momentum, especially with new strategic initiatives like NVOCC expansion and direct vessel operations.
Sector KPIs management disclosed
Bills of Lading Processed
Company processed 5,000+ bills of lading in FY2025.
Global Agent Network
SJ Logistics has 2,000+ global agents across 30+ countries and 6 continents.
Warehousing Capacity
Company operates ~38,910 sq. ft. of warehousing space in Bhiwandi, Thane.
NVOCC Revenue Growth (H1 FY26)
NVOCC division recorded a growth of over 1,427%, rising from ₹209 lakhs in H1 FY25 to ₹3,193 lakhs in H1 FY26.
Management forward view
Forward Integration in Value Chain
Launch of direct vessel operations marks a forward integration, unlocking new trade opportunities across emerging global corridors.
Enhanced Pricing Power
NVOCC initiative allows direct booking, documentation, and route control, reducing dependency on liners and enhancing pricing power.
Integrated Warehousing and Distribution
Plans to acquire rights over large, multi-user warehouses to offer integrated warehousing and distribution services aligned with modern supply chain needs.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| NVOCC Revenue Growth | 1,427% YoY in H1 FY26 | Sustained high growth rates and contribution to overall revenue as direct vessel operations ramp up. |
| EBITDA Margin | 18.1% in Q2 FY26, 17.9% in H1 FY26 | Maintenance or improvement of margins, especially with new asset-light NVOCC and direct vessel operations. |
| Cash Flow from Operating Activities | INR 731.5 Lacs in H1 FY26 (Consolidated) | Consistent positive cash generation from operations to support expansion plans and reduce reliance on borrowings. |
| Warehousing Expansion | Plans to acquire rights over large, multi-user warehouses | Concrete announcements and timelines for new warehouse acquisitions and their operationalization. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited 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 52nd percentile of the scored universe and 58th percentile within Services. Main check: promoter alignment is weak at 39/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
6 docs text-extracted · 3 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Services: 58th pctile, median 66 · SME: 66th 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
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
39
weak · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding increased 1.7%.
- ▸ROCE is 32.4%.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Promoters have pledged 39.8% of holding.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching S J Logistics (India) Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportMar 2026
Aug 2026 · Copy of Newspaper Publication 26 Aug - Published notice for 23rd AGM notice dispatch, FY26 annual report and e-voting on August 26, 2026.
Source: Nse
Annual reportMar 2026
Sep 2026 · General Updates 31 Aug - 23rd AGM on 23 September 2026 via VC/OAVM; annual report sent to non-registered email shareholders.
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Investor presentationAug 2025
Aug 2025 · PPT
Source: Nse
Concall transcriptAug 2025
Aug 2025 · Transcript
Source: Nse
Concall transcriptJun 2025
Jun 2025 · Transcript
Source: Nse
Investor presentationJun 2025
Jun 2025 · PPT
Source: Nse
Annual report
Annual Report 2025
Source: Nse
Investor presentationFeb 2025
Feb 2025 · PPT
Source: Company Ir
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.