Tejas Cargo India Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹946 Cr
- P/E
- 44.00
- ROE
- 11.74%
- PEG
- 1.42
- Price to sales
- 1.51
- Debt to equity
- 1.14
- EBITDA margin
- 17.48%
- Net profit margin
- 3.42%
- Promoter holding
- 74.71%
- Sales (last year)
- ₹628 Cr
Guidance scorecard · Q4 FY26 call
What Tejas Cargo's management guided
RevenueQ2 FY26 call
10–20%- Tejas Cargo expects volume growth in H2 FY26 to be higher than H1, building on a strong H1 with Rs.306 crore revenue.
- Revenue growth is directly proportional to fleet size; recent CAPEX expansion (from 110 trailers in FY24 to 320 now) has increased capacity and volume.
- Planned addition of 40-50 vehicles in the remainder of FY26 to support growth.
- The company aims to improve fleet utilization while maintaining a hybrid fleet model (60-70% owned vehicles, 30-40% hired) to manage seasonality and demand fluctuations.
2 more points from Tejas Cargo's call on revenue
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MarginsQ2 FY26 call
FlatSee what Tejas Cargo said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Tejas Cargo is actively expanding its fleet with plans to add around 40 to 50 more vehicles in the remaining part of FY26, partially funded by internal accruals and debt financing from existing bankers.
- The company invested over Rs.100 crores in CAPEX in FY25, funded through IPO proceeds (~Rs.48 crores), internal accruals (~Rs.20-22 crores), and debt.
- The replacement cycle for vehicles is influenced by maintenance costs and client environmental requirements, moving from a 5-year cycle (BS-IV) to an expected 7-10 year cycle for newer BS-VI vehicles. Vehicle replacements for BS-IV are completing this…
- Technology investment includes development of an in-house ERP platform upgrade (Python and React), focusing on route optimization, vehicle idleness, and preventive maintenance. Annual salary cost for ERP development team is about Rs.22 lakhs currently.
2 more points from Tejas Cargo's call on capex
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FundraisingQ2 FY26 call
PlannedSee what Tejas Cargo said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- The company actively bids for multiple work orders annually through lane-specific auctions, typical in the logistics industry.
- They maintain long-term relationships with large corporates, with 78% of revenue from top 10 clients.
- The company has multiple contracts, such as with Tata Steel and Jindal, especially in steel and cement since January 2024.
- For new verticals like car carriers, they have already deployed about 50 vehicles and expect to onboard more OEMs in the next 3-4 months.
2 more points from Tejas Cargo's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Financials of Tejas Cargo
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Tejas Cargo
Quarterly Results
Quarter-by-quarter operating performance
Financials of Tejas Cargo
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 209 | 384 | 419 | 501 | 628 |
| Expenses + | 201 | 354 | 353 | 404 | 519 |
| Operating Profit | 8 | 31 | 66 | 97 | 109 |
| OPM % | 4% | 8% | 16% | 19% | 17% |
| Other Income + | 0 | 2 | 3 | 7 | 8 |
| Interest | 1 | 5 | 11 | 17 | 17 |
| Depreciation | 3 | 14 | 41 | 61 | 72 |
| Profit before tax | 4 | 14 | 17 | 26 | 28 |
| Tax % | 25% | 27% | 24% | 26% | 26% |
| Net Profit + | 3 | 10 | 13 | 19 | 21 |
| EPS in Rs | 3,160.00 | 9,860.00 | 541.14 | 8.00 | 8.74 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Tejas Cargo
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.24 | 24 | 24 |
| Reserves | 3 | 13 | 55 | 149 | 169 |
| Borrowings + | 31 | 83 | 161 | 159 | 220 |
| Other Liabilities + | 29 | 20 | 19 | 28 | 34 |
| Total Liabilities | 64 | 116 | 236 | 360 | 447 |
| Fixed Assets + | 17 | 53 | 124 | 153 | 190 |
| CWIP | 0 | 0 | 0 | 20 | 19 |
| Investments | 0 | 0 | 19 | 18 | 30 |
| Other Assets + | 46 | 64 | 93 | 169 | 208 |
| Total Assets | 64 | 116 | 236 | 360 | 447 |
Financials of Tejas Cargo
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -5 | 17 | 48 | 63 | |
| Cash from Investing Activity + | -25 | -46 | -131 | -110 | |
| Cash from Financing Activity + | 30 | 32 | 87 | 80 | |
| Net Cash Flow | 0 | 3 | 5 | 34 | |
| Free Cash Flow | -25 | -32 | -63 | -47 | |
| CFO/OP | -52% | 68% | 80% | 72% |
Financials of Tejas Cargo
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 62 | 38 | 61 | 70 | 69 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 62 | 38 | 61 | 70 | 69 |
| Working Capital Days | -2 | 6 | -14 | 18 | 15 |
| ROCE % | 28% | 18% | 16% | 12% |
Momentum score · price trend
79 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +34.9% | 81% |
| Last 6 months | +16.8% | 74% |
| Last 3 months | +13.1% | 84% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Tejas Cargo: 0.4 × 81 + 0.4 × 74 + 0.2 × 84 = 79.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.