Overview

Detailed Summary

AVG Logistics Limited is an integrated third-party logistics operator offering multi-modal services across transportation, warehousing, rail, cold chain and value-added logistics, with pan-India distribution, technology-enabled fleet operations, and a mix of owned and market vehicles serving FMCG, consumer durables, chemicals, pharmaceuticals, QSR, automotive, heavy commodities and other sectors.
Financially, Q3 FY26 revenue from operations was INR 134.08 crores with EBITDA of INR 27.20 crores (20.29% margin) and PAT of INR 5.40 crores (4.03% margin). For 9M FY26, revenue was INR 402.13 crores, EBITDA INR 77.73 crores (19.33% margin) and PAT INR 15.46 crores (3.84% margin), reflecting stable operating margins amid consolidation.
Management is prioritising fleet modernisation and green logistics: the company introduced an LNG-powered fleet and commercially deployed 55-ton electric trucks from Tata Motors at Tata Steel, and reported ~INR65 crores capex in FY26 with expectations that FY27 will start to capture the benefit of this investment in improved asset turns and margins.
Operational expansion is tangible: AVG reported active warehousing of about nine lakh square feet today with plans to scale toward 15 lakh square feet, has secured land parcels (including Khurda, Odisha and Agartala, Mysore earlier), and won a six-year Parcel Cargo Express Train lease and long-term FMCG contracts, indicating multi-year revenue visibility and network density improvement.
Cold chain and liquid logistics are key growth engines: management states around 450 refrigerated vehicles in operation, reported approximately INR 80 crores invoiced from cold chain in a recent period, plans to add 100–150 reefer vehicles in the near term, and targets INR 110–150 crores revenue from cold chain as part of a deliberate premium-margin expansion.

Sector: Transport Services
Industry: Logistics Solution Provider
Market Cap: 333 Cr
Volatility: Moderate Risk
P/E Ratio: 16.1
Industry P/E: 21.9
PEG Ratio: 0.1
P/B Ratio: 1.1
52W High: 309.55
52W Low: 121.30

Sales CAGR

1Y: 14.93%
3Y: 8.47%
5Y: 11.31%
10Y: 12.41%

Profit CAGR

1Y: -33.88%
3Y: 184.56%
5Y: 36.56%
10Y: 20.91%

ROE

TTM: 8.10%
3Y: 11.54%
5Y: 8.77%
10Y: 10.08%

ROCE

TTM: 10.29%
3Y: 17.53%
5Y: 14.53%
10Y: 16.44%

Technicals

Oscillators

BearishNeutralBullish

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Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

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Neutral

Bullish

Moving Averages

BearishNeutralBullish

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Neutral

Bullish

Overall

BearishNeutralBullish

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Neutral

Bullish

Forecasts

Peers

Services Services Transport Services Logistics Solution Provider

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
DJML		113.95	393 Cr	34.53	4.36	0.00	12.10	14.27	8.14
TIGERLOGS		34.90	368 Cr	17.14	2.30	0.00	13.45	15.93	8.18
LANCER		10.14	357 Cr	63.49	0.51	0.00	0.80	1.72	0.67
AVG		177.75	333 Cr	16.08	1.07	0.54	8.10	10.29	3.60
OMFREIGHT		82.10	276 Cr	17.22	1.33	0.00	7.73	9.25	4.18
PPARIVAH		160.60	254 Cr	7.56	1.58	0.00	20.42	20.60	12.20
GLOBALLOG		150.00	217 Cr	21.16	4.53	0.00	19.57	26.34	15.23
Median: 7 Co.	—	113.95	333 Cr	17.22	1.58	0.00	12.10	14.27	8.14

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	117	125	137	123	138	142	148	125	143	134
Expenses	97	102	116	100	115	117	124	101	119	108
Operating Profit	21	23	21	23	23	26	24	24	24	26
OPM %	17.75	18.15	15.52	18.59	16.84	18.04	16.05	18.90	16.97	19.46
Other Income	0.54	0.50	24	0.78	1.10	0.76	0.20	0.65	1.99	1.11
Interest	7.01	7.06	6.80	6.63	6.76	6.41	6.04	6.16	7.95	8.16
Depreciation	9.71	9.57	10	10	11	12	10	11	12	12
Profit Before Tax	4.67	6.51	29	6.62	7.06	7.93	7.56	7.00	6.57	7.09
Tax %	37.47	33.03	19.73	21.30	23.80	30.52	30.95	28.86	22.68	23.84
Net Profit	2.92	4.36	23	5.21	5.38	5.51	5.23	4.97	5.08	5.40
EPS in Rs	1.14	3.19	17.32	3.46	3.65	3.76	3.68	3.29	3.37	3.59

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	227	313	322	333	432	427	480	552	554
Expenses	203	286	292	319	391	352	396	456	457
Operating Profit	24	28	30	14	41	75	84	96	96
OPM %	10.62	8.91	9.40	4.33	9.42	17.55	17.45	17.33	17.41
Other Income	0.44	2.21	1.46	1.19	0.69	2.79	25	2.84	2.71
Interest	6.78	8.37	9.68	12	22	31	28	26	25
Depreciation	5.70	7.56	9.31	6.78	18	36	38	43	44
Profit Before Tax	12	13	6.36	-2.36	0.86	11	42	29	30
Tax %	37.25	24.51	29.56	25.29	-7.61	29.64	23.86	26.90	28.63
Net Profit	7.55	10	4.48	-1.76	0.92	7.87	32	21	21
EPS in Rs	—	—	—	—	—	20.35	23.34	14.54	13.93
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	14.10	4.50	7.99	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	7.21	10	10	12	12	12	14	15
Reserves	22	58	64	69	70	78	186	232
Borrowings	46	60	65	119	287	266	220	219
Other Liabilities	25	46	71	41	55	52	28	34
Total Liabilities	100	175	209	241	424	408	449	499
Fixed Assets	22	37	39	68	238	216	198	186
CWIP	4.32	7.85	16	2.22	0.05	2.10	0.49	8.10
Investments	1.55	9.24	9.94	9.97	10	10	42	41
Other Assets	73	120	143	161	176	179	208	264
Total Assets	100	175	209	241	424	408	449	499

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	12	-5.84	21	-3.62	29	38	0.97	37
Cash from Investing Activity	-10	-38	-17	-16	-24	-16	-35	-35
Cash from Financing Activity	-1.15	45	-2.70	20	-5.88	-24	34	-1.69
Net Cash Flow	0.80	0.86	1.07	-0.06	-1.19	-1.29	0.37	0.06

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Feb 2024	Mar 2024	Jun 2024	Sep 2024	Nov 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	52.78%	52.76%	52.76%	51.54%	52.38%	51.88%	52.51%	52.51%	52.51%	51.20%	51.20%	41.23%
FIIs	6.52%	8.03%	8.60%	8.14%	7.70%	8.01%	8.36%	8.59%	8.56%	8.68%	8.54%	5.90%
DIIs	1.44%	1.44%	1.44%	1.41%	1.33%	1.61%	1.59%	1.59%	1.57%	1.40%	1.54%	16.43%
Public	39.26%	37.77%	37.20%	38.91%	38.59%	38.50%	37.55%	37.32%	37.36%	38.72%	38.72%	36.44%
Total Shareholders	6,408	7,519	8,959	8,971	8,977	10,664	10,615	10,313	10,078	10,114	9,798	9,927

Market Transactions

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

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