Tiger Logistics Q4 FY26 Results (NSE: TIGERLOGS)
Signal: Margin pressure
The read
Q4FY26 shows a sharp margin contraction despite strong revenue growth, driven by operating expenses (likely freight costs) rising faster than revenue. Full-year profitability declined, with receivables ballooning to 105 days and operating cash flow negative for a second year. The company's standalone results indicate working capital strain and pricing pressure.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹162.55 Cr | 41.96% | 16.92% |
| EBIT | ₹4.32 Cr | -53.6% | |
| Net profit | ₹2.22 Cr | -65.53% | |
| EPS | ₹0.22 | -60% | |
| EBIT margin | 2.82% |
P&L walk
Revenue grew 42% YoY but operating expenses grew faster (line item discrepancy suggests misprint, but total expenses rose 68% YoY), compressing EBITDA margin from 8.3% to 2.8%. Net profit fell 65.5%.
Key positives
- Q4 revenue grew 42% YoY to ₹16,255 lakh, accelerating from 6.8% annual growth.
- Full-year revenue reached ₹57,282 lakh, up 6.8% YoY.
Key concerns
- EBITDA margin collapsed from 8.3% to 2.8% in Q4, a 551 bps decline.
- Net profit fell 65.5% YoY to ₹222 lakh in Q4.
- Receivable days surged to 104.7 days from 70.4 days, indicating cash flow strain.
- Cash flow from operations negative for the second consecutive year at -₹1,762 lakh.
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