Logistics · Founded 1962 · www.patel-india.com · BSE 526381 · NSE PAT INT LOG · ISIN INE529D01014
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Business
Patel Integrated Logistics Ltd. is an Indian logistics company engaged in providing integrated logistics solutions. Its core business model revolves around offering a comprehensive suite of services including freight forwarding (surface transport across India), warehousing solutions, express cargo delivery, and potentially other supply chain management services. The company makes money by charging customers for the transportation of goods, storage in its warehouses, and specialized logistics services, leveraging its network and operational capabilities to serve various industries.
Revenue Mix
The company operates across various logistics verticals, primarily focusing on surface transport, express cargo, and warehousing. Specific revenue contribution percentages for each segment are not publicly available in the provided information. However, its 'integrated' nature suggests a mix of services tailored to client needs.
Industry
The Indian logistics industry is large and undergoing formalization and growth, driven by infrastructure development (roads, railways, ports), the Goods and Services Tax (GST) implementation, and the booming e-commerce sector. The industry is characterized by a mix of organized and unorganized players, with increasing consolidation towards integrated service providers. Patel Integrated Logistics Ltd. positions itself as an integrated logistics solutions provider, competing with both larger pan-India players and numerous regional logistics firms by offering a broad range of services designed for efficiency and reliability.
MOAT
Patel Integrated Logistics' competitive advantages may stem from:
Network Effect: A well-established and extensive surface transport network across India can create efficiencies and reach that are difficult for new entrants to replicate quickly.
Operational Scale & Efficiency: Building scale in warehousing and transportation can lead to cost advantages and better service delivery times.
Integrated Offerings: Providing multiple services (transport, warehousing, express) under one roof can lead to higher customer stickiness due to convenience and reduced complexity for clients.
However, these advantages need continuous investment and may not be as strong against dominant market leaders with significantly larger scale or more advanced technology.
Growth Drivers
Economic Growth & Industrial Production: A growing Indian economy and increasing manufacturing output directly translate to higher demand for logistics services.
E-commerce Boom: Continued growth in online retail necessitates robust last-mile delivery and warehousing solutions.
Government Infrastructure Push: Investments in roads, railways, and logistics parks improve efficiency and reduce transit times, benefiting logistics companies.
Formalization of Logistics Sector: Post-GST, the shift from unorganized to organized logistics players benefits companies like Patel Integrated Logistics that offer integrated and compliant services.
"Make in India" & Supply Chain Diversification: Increased domestic manufacturing and global supply chain re-alignment can boost demand for internal logistics.
Risks
Fuel Price Volatility: Logistics operations are highly sensitive to crude oil and diesel prices, which can impact profitability if not effectively passed on to customers.
Intense Competition: The Indian logistics market remains fragmented and highly competitive, putting pressure on pricing and margins.
Economic Slowdown: A downturn in economic activity or industrial production can lead to reduced freight volumes and lower demand for logistics services.
Infrastructure Bottlenecks: Despite government efforts, persistent infrastructure gaps can impact delivery times and operational efficiency.
Regulatory & Compliance Changes: Changes in transport, labor, or environmental regulations could increase operational costs or complexity.
Technological Disruption: Failure to adopt new logistics technologies (e.g., AI, IoT, automation) could lead to loss of competitive edge.
Management & Ownership
Patel Integrated Logistics Ltd. is a promoter-led company, as suggested by its name. Indian companies of this nature typically have promoters (in this case, the Patel family or group) as significant shareholders and often involved in the management. While specific details on individual management quality are not provided, an established listed company is generally managed by an experienced team with knowledge of the logistics sector, working under the strategic direction of its promoters.
Outlook
Patel Integrated Logistics is positioned in a growing sector with strong tailwinds from India's economic development, e-commerce, and infrastructure investment. The company's integrated approach could help it capture a share of the increasingly formalized logistics market. However, it operates in a highly competitive environment susceptible to fuel price fluctuations and economic cycles. Its future performance will depend on its ability to expand its network efficiently, leverage technology for operational improvements, maintain service quality, and navigate competitive pricing pressures while effectively managing costs.
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| #(Fig in Cr.) | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 61 | 64 | 61 | 67 | 77 | 86 | 82 | 84 | 78 | 94 |
| Other Income | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 |
| Total Income | 61 | 65 | 61 | 67 | 77 | 86 | 83 | 85 | 78 | 95 |
| Total Expenditure | 58 | 63 | 59 | 65 | 75 | 83 | 80 | 82 | 76 | 92 |
| Operating Profit | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 2 | 3 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Provision for Tax | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Adjusted Earnings Per Share | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.2 | 0.3 | 0.2 | 0.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 588 | 511 | 454 | 424 | 448 | 347 | 212 | 234 | 278 | 291 | 343 | 338 |
| Other Income | 3 | 4 | 6 | 7 | 6 | 18 | 17 | 13 | 5 | 6 | 15 | 2 |
| Total Income | 591 | 516 | 460 | 430 | 454 | 366 | 230 | 247 | 283 | 296 | 358 | 341 |
| Total Expenditure | 569 | 491 | 437 | 408 | 434 | 351 | 219 | 237 | 271 | 285 | 346 | 330 |
| Operating Profit | 22 | 24 | 23 | 23 | 20 | 15 | 10 | 10 | 12 | 11 | 11 | 11 |
| Interest | 9 | 9 | 8 | 7 | 8 | 7 | 8 | 5 | 5 | 3 | 1 | 0 |
| Depreciation | 5 | 4 | 4 | 5 | 5 | 4 | 2 | 3 | 3 | 3 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 10 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 8 | 11 | 10 | 11 | 7 | 13 | 0 | 2 | 5 | 6 | 8 | 8 |
| Provision for Tax | 2 | 3 | 3 | 2 | 1 | 2 | 0 | -0 | -0 | 0 | 0 | 0 |
| Profit After Tax | 6 | 8 | 8 | 8 | 6 | 11 | 0 | 2 | 5 | 6 | 8 | 8 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 6 | 8 | 8 | 8 | 6 | 11 | 0 | 2 | 5 | 6 | 8 | 8 |
| Adjusted Earnings Per Share | 1.8 | 2.4 | 2.2 | 2.3 | 1.7 | 2.9 | 0 | 0.6 | 0.7 | 0.8 | 1.1 | 1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 18% | 14% | -0% | -5% |
| Operating Profit CAGR | 0% | 3% | -6% | -7% |
| PAT CAGR | 33% | 59% | -6% | 3% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -12% | 4% | -0% | -11% |
| ROE Average | 6% | 5% | 3% | 5% |
| ROCE Average | 6% | 6% | 5% | 8% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 91 | 107 | 115 | 127 | 128 | 119 | 117 | 117 | 118 | 119 | 122 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 10 | 10 | 18 | 20 | 22 | 19 | 19 | 15 | 14 | 9 | 0 |
| Other Non-Current Liabilities | 8 | 5 | 5 | 6 | 6 | 5 | 5 | 6 | 5 | 5 | 5 |
| Total Current Liabilities | 77 | 80 | 61 | 74 | 71 | 62 | 50 | 41 | 35 | 59 | 40 |
| Total Liabilities | 187 | 202 | 199 | 228 | 227 | 205 | 190 | 179 | 172 | 192 | 168 |
| Fixed Assets | 42 | 40 | 48 | 52 | 54 | 46 | 48 | 52 | 50 | 35 | 34 |
| Other Non-Current Assets | 8 | 7 | 20 | 22 | 20 | 15 | 14 | 11 | 11 | 18 | 19 |
| Total Current Assets | 136 | 155 | 131 | 154 | 153 | 145 | 128 | 116 | 111 | 138 | 115 |
| Total Assets | 187 | 202 | 199 | 228 | 227 | 205 | 190 | 179 | 172 | 192 | 168 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 10 | 10 | 0 | -21 | -23 | -32 | -25 | -13 | -17 | 7 | 17 |
| Cash Flow from Operating Activities | 9 | -0 | 15 | 6 | -3 | -16 | 5 | 9 | -4 | 12 | 1 |
| Cash Flow from Investing Activities | -1 | -1 | -18 | -11 | 1 | 40 | 4 | -1 | 5 | 9 | 1 |
| Cash Flow from Financing Activities | -8 | 14 | -3 | 4 | -7 | -18 | 3 | -4 | 23 | -10 | -5 |
| Net Cash Inflow / Outflow | 0 | 13 | -6 | -2 | -9 | 7 | 12 | 4 | 24 | 11 | -3 |
| Closing Cash & Cash Equivalent | 10 | 24 | -21 | -23 | -33 | -25 | -13 | -9 | 7 | 17 | 14 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.79 | 2.39 | 2.24 | 2.25 | 1.73 | 2.94 | 0.01 | 0.62 | 0.74 | 0.84 | 1.09 |
| CEPS(Rs) | 3.13 | 3.61 | 3.44 | 3.55 | 3 | 4.01 | 0.56 | 1.34 | 1.18 | 1.27 | 1.47 |
| DPS(Rs) | 0.23 | 0.23 | 0.23 | 0.34 | 0.23 | 0.05 | 0.06 | 0.1 | 0.1 | 0.1 | 0.3 |
| Book NAV/Share(Rs) | 26.99 | 29.7 | 32.85 | 34.89 | 35.07 | 32.59 | 26.98 | 31.96 | 17.8 | 18.15 | 17.48 |
| Core EBITDA Margin(%) | 3.18 | 3.89 | 3.76 | 3.81 | 3.13 | -1.05 | -3.36 | -1.02 | 2.7 | 1.77 | -1.01 |
| EBIT Margin(%) | 2.89 | 3.93 | 4.1 | 4.23 | 3.52 | 5.82 | 3.7 | 3.23 | 3.38 | 2.84 | 2.58 |
| Pre Tax Margin(%) | 1.36 | 2.16 | 2.3 | 2.53 | 1.65 | 3.7 | 0.13 | 0.95 | 1.67 | 1.95 | 2.24 |
| PAT Margin (%) | 1.02 | 1.64 | 1.73 | 1.94 | 1.41 | 3.09 | 0.03 | 0.97 | 1.76 | 1.91 | 2.22 |
| Cash Profit Margin (%) | 1.79 | 2.47 | 2.66 | 3.06 | 2.45 | 4.22 | 1.14 | 2.09 | 2.81 | 2.87 | 2.98 |
| ROA(%) | 3.17 | 4.31 | 3.93 | 3.85 | 2.78 | 4.97 | 0.03 | 1.23 | 2.79 | 3.04 | 4.22 |
| ROE(%) | 6.64 | 8.6 | 7.17 | 6.78 | 4.95 | 8.69 | 0.05 | 1.94 | 4.17 | 4.67 | 6.31 |
| ROCE(%) | 12.43 | 13.13 | 10.81 | 9.62 | 7.88 | 10.53 | 4.39 | 4.41 | 5.99 | 5.65 | 6.36 |
| Receivable days | 54.62 | 65.56 | 73.09 | 82.05 | 82.45 | 98.82 | 138.15 | 106.12 | 90.63 | 103.4 | 84.28 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 30.53 | 17.39 | 17.56 | 11.15 | 12.06 | 1.59 | 770.14 | 20.69 | 14.6 | 23.35 | 12.22 |
| Price/Book(x) | 2.02 | 1.4 | 1.2 | 0.72 | 0.6 | 0.14 | 0.36 | 0.4 | 0.61 | 1.08 | 0.76 |
| Dividend Yield(%) | 0.42 | 0.55 | 0.57 | 1.35 | 1.08 | 0.97 | 0.62 | 0.77 | 0.91 | 0.5 | 2.25 |
| EV/Net Sales(x) | 0.37 | 0.34 | 0.4 | 0.34 | 0.31 | 0.19 | 0.38 | 0.31 | 0.28 | 0.42 | 0.23 |
| EV/Core EBITDA(x) | 9.98 | 7.24 | 7.96 | 6.32 | 6.86 | 4.46 | 7.92 | 7.18 | 6.37 | 10.94 | 6.76 |
| Net Sales Growth(%) | 8.25 | -13.03 | -11.23 | -6.67 | 5.68 | -22.41 | -38.91 | 10.4 | 18.76 | 4.41 | 17.95 |
| EBIT Growth(%) | 38.92 | 18.14 | -7.32 | -3.75 | -11.99 | 28.25 | -61.14 | -3.6 | 24.26 | -12.21 | 6.98 |
| PAT Growth(%) | 155 | 39.8 | -6 | 4.5 | -23.1 | 69.8 | -99.49 | 4039.71 | 115.46 | 13.1 | 37.22 |
| EPS Growth(%) | 155.01 | 33.64 | -6 | 0.39 | -23.1 | 69.8 | -99.57 | 4773.3 | 19.55 | 13.72 | 29.67 |
| Debt/Equity(x) | 0.53 | 0.58 | 0.53 | 0.54 | 0.6 | 0.51 | 0.53 | 0.41 | 0.27 | 0.2 | 0.11 |
| Current Ratio(x) | 1.76 | 1.94 | 2.16 | 2.07 | 2.17 | 2.34 | 2.59 | 2.8 | 3.13 | 2.35 | 2.85 |
| Quick Ratio(x) | 1.76 | 1.94 | 2.17 | 2.07 | 2.18 | 2.34 | 2.59 | 2.8 | 3.13 | 2.35 | 2.85 |
| Interest Cover(x) | 1.89 | 2.23 | 2.28 | 2.49 | 1.88 | 2.74 | 1.04 | 1.42 | 1.97 | 3.19 | 7.52 |
| Total Debt/Mcap(x) | 0.26 | 0.42 | 0.45 | 0.75 | 1 | 3.57 | 1.46 | 0.56 | 0.44 | 0.19 | 0.14 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.85 | 36.85 | 36.42 | 35.53 | 36.12 | 35.91 | 35.91 | 35.91 | 35.91 | 35.99 |
| FII | 0.03 | 0.02 | 0.17 | 0 | 0.17 | 0.15 | 0.13 | 0.17 | 0 | 0 |
| DII | 0.62 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 62.51 | 63.13 | 63.4 | 64.47 | 63.7 | 63.94 | 63.96 | 63.92 | 64.09 | 64.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.38 | 2.38 | 2.35 | 2.29 | 2.51 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| FII | 0 | 0 | 0.01 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| DII | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.04 | 4.08 | 4.09 | 4.16 | 4.43 | 4.45 | 4.45 | 4.45 | 4.46 | 4.45 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 6.46 | 6.46 | 6.46 | 6.46 | 6.96 | 6.96 | 6.96 | 6.96 | 6.96 | 6.96 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +18% | +14% | 0% | -5% |
| Operating Profit CAGR | 0% | +3% | -6% | -7% |
| PAT CAGR | +33% | +59% | -6% | +3% |
| Share Price CAGR | -12% | +4% | 0% | -11% |
| ROE Average | +6% | +5% | +3% | +5% |
| ROCE Average | +6% | +6% | +5% | +8% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.85 | 36.85 | 36.42 | 35.53 | 36.12 | 35.91 | 35.91 | 35.91 | 35.91 | 35.99 |
| FII | 0.03 | 0.02 | 0.17 | 0 | 0.17 | 0.15 | 0.13 | 0.17 | 0 | 0 |
| DII | 0.62 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 63.15 | 63.15 | 63.58 | 64.47 | 63.88 | 64.09 | 64.09 | 64.09 | 64.09 | 64.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.38 | 2.38 | 2.35 | 2.29 | 2.51 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| FII | 0 | 0 | 0.01 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| DII | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 4.08 | 4.08 | 4.11 | 4.16 | 4.44 | 4.46 | 4.46 | 4.46 | 4.46 | 4.45 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 6.46 | 6.46 | 6.46 | 6.46 | 6.96 | 6.96 | 6.96 | 6.96 | 6.96 | 6.96 |
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