Shree Vasu Logis Q2 FY27 Results (NSE: SVLL)
Signal: Steady quarter
The read
The key inflection is a sharp 3PL-led earnings acceleration: revenue reached ₹8,023.18 lakh, +43.3% YoY, and standalone PAT ₹508.41 lakh, +318.2% YoY, while the balance sheet expanded with PPE and CWIP rising to ₹8,590.40 lakh and trade receivables increasing to ₹4,746.41 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹80.23 Cr | +43.3% | +23.9% |
| Net profit | ₹5.08 Cr | +318.1% | |
| EPS | ₹4.42 | +317.0% |
P&L walk
Consolidated revenue rose to ₹8,023.18 lakh, +43.3% YoY and +23.9% QoQ, while profit before tax was about ₹631.73 lakh versus ₹157.78 lakh a year earlier; the result is primarily an operating recovery, with the associate contribution immaterial.
Segments
The 3PL business drove the result: revenue rose to ₹7,546.50 lakh, +45.6% YoY, and segment result increased to ₹858.46 lakh, +195.0% YoY; retail revenue was ₹476.68 lakh, +14.7% YoY, with a smaller ₹22.26 lakh result.
Key positives
- 3PL revenue reached ₹7,546.50 lakh, +45.6% YoY, outpacing total revenue growth of +43.3% and accounting for nearly all of the quarter's revenue increase.
- 3PL segment result rose to ₹858.46 lakh, +195.0% YoY, versus total standalone PBT of ₹631.79 lakh before unallocable expenditure.
- Operating expenses rose +40.5% YoY to ₹4,192.42 lakh, below revenue growth of +43.3% YoY, indicating positive cost absorption in the reported quarter.
- Operating cash flow increased to ₹3,026.86 lakh in H1FY27 from ₹1,563.70 lakh in H1FY26.
Key concerns
- Trade receivables increased from ₹3,870.88 lakh at 31 March 2026 to ₹4,746.41 lakh at 30 September 2026, consuming ₹874.19 lakh of operating cash in H1FY27.
- Borrowings increased to ₹10,483.19 lakh and lease liabilities to ₹11,695.39 lakh by 30 September 2026, leaving a sizeable fixed financial-obligation base relative to quarterly PBT of ₹631.79 lakh.
- Depreciation rose +32.1% YoY to ₹1,121.28 lakh and CWIP increased to ₹760.28 lakh, raising execution and utilisation requirements for the expanded asset base.
- The consolidated prior-year comparison is not fully like-for-like because Nava Raipur Business Hub Private Limited changed from subsidiary to associate effective 21 February 2026.
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