Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹251Cr
Logistics - Warehousing/Supply Chain
Rev Gr TTM
Revenue Growth TTM
1.68%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

AVG
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -12.4 | 3.6 | 5.9 | 17.2 | 21.3 | 22.5 | 17.9 | 14.2 | 7.9 | 1.7 | 3.3 | -5.9 |
| 86 | 82 | 97 | 102 | 116 | 100 | 115 | 117 | 124 | 101 | 119 | 108 |
Operating Profit Operating ProfitCr |
| 23.4 | 18.5 | 17.8 | 18.1 | 15.5 | 18.6 | 16.8 | 18.0 | 16.1 | 18.9 | 17.0 | 19.5 |
Other Income Other IncomeCr | 2 | 0 | 1 | 1 | 24 | 1 | 1 | 1 | 0 | 1 | 2 | 1 |
Interest Expense Interest ExpenseCr | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | 8 | 8 |
Depreciation DepreciationCr | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 12 | 10 | 11 | 12 | 12 |
| 12 | 3 | 5 | 7 | 29 | 7 | 7 | 8 | 8 | 7 | 7 | 7 |
| 3 | 1 | 2 | 2 | 6 | 1 | 2 | 2 | 2 | 2 | 1 | 2 |
|
Growth YoY PAT Growth YoY% | -62.3 | 2,500.0 | 228.1 | 124.7 | 149.4 | 150.5 | 84.3 | 26.4 | -77.1 | -4.6 | -5.6 | -2.0 |
| 8.1 | 2.1 | 2.5 | 3.5 | 16.7 | 4.2 | 3.9 | 3.9 | 3.5 | 4.0 | 3.5 | 4.0 |
| 23.8 | 2.1 | 1.5 | 4.1 | 19.1 | 3.8 | 3.9 | 3.8 | 3.7 | 3.3 | 3.4 | 3.6 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 38.4 | 2.8 | 3.5 | 29.5 | -1.1 | 12.4 | 14.9 | -0.3 |
| 203 | 286 | 292 | 319 | 391 | 352 | 396 | 456 | 452 |
Operating Profit Operating ProfitCr |
| 10.6 | 8.9 | 9.4 | 4.3 | 9.4 | 17.6 | 17.4 | 17.3 | 17.8 |
Other Income Other IncomeCr | 0 | 2 | 1 | 1 | 1 | 3 | 25 | 3 | 4 |
Interest Expense Interest ExpenseCr | 7 | 8 | 10 | 12 | 22 | 31 | 28 | 26 | 28 |
Depreciation DepreciationCr | 6 | 8 | 9 | 7 | 18 | 36 | 38 | 43 | 45 |
| 12 | 13 | 6 | -2 | 1 | 11 | 42 | 29 | 28 |
| 4 | 3 | 2 | -1 | 0 | 3 | 10 | 8 | 8 |
|
| | 34.1 | -55.7 | -139.4 | 152.4 | 752.0 | 310.1 | -33.9 | -3.0 |
| 3.3 | 3.2 | 1.4 | -0.5 | 0.2 | 1.8 | 6.7 | 3.9 | 3.8 |
| 10.5 | 9.4 | 5.0 | -1.6 | 0.8 | 7.1 | 26.7 | 15.0 | 13.9 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 7 | 10 | 10 | 12 | 12 | 12 | 14 | 15 | 15 |
| 22 | 58 | 64 | 69 | 70 | 78 | 172 | 226 | 242 |
Current Liabilities Current LiabilitiesCr | 51 | 73 | 104 | 109 | 120 | 140 | 114 | 143 | 164 |
Non Current Liabilities Non Current LiabilitiesCr | 19 | 33 | 31 | 52 | 222 | 177 | 135 | 109 | 154 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 61 | 108 | 132 | 151 | 161 | 162 | 196 | 248 | 278 |
Non Current Assets Non Current AssetsCr | 40 | 67 | 77 | 90 | 262 | 245 | 252 | 251 | 296 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 12 | -6 | 21 | -4 | 29 | 38 | 28 | 37 |
Investing Cash Flow Investing Cash FlowCr | -10 | -38 | -17 | -16 | -24 | -16 | -35 | -35 |
Financing Cash Flow Financing Cash FlowCr | -1 | 45 | -3 | 20 | -6 | -24 | 8 | -2 |
|
Free Cash Flow Free Cash FlowCr | 4 | -35 | 2 | -21 | 6 | 21 | -23 | 1 |
| 160.3 | -57.8 | 458.6 | 205.3 | 3,128.9 | 488.0 | 85.4 | 174.2 |
CFO To EBITDA CFO To EBITDA% | 50.3 | -20.9 | 67.8 | -25.1 | 71.0 | 51.2 | 32.9 | 38.9 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 82 | 31 | 55 | 100 | 199 | 780 | 370 |
Price To Earnings Price To Earnings | 0.0 | 8.7 | 6.0 | 0.0 | 103.7 | 23.8 | 24.4 | 17.3 |
Price To Sales Price To Sales | 0.0 | 0.3 | 0.1 | 0.2 | 0.2 | 0.5 | 1.6 | 0.7 |
Price To Book Price To Book | 0.0 | 1.2 | 0.4 | 0.7 | 1.2 | 2.2 | 4.2 | 1.5 |
| 1.9 | 5.0 | 3.0 | 11.6 | 9.4 | 6.2 | 11.8 | 6.1 |
Profitability Ratios Profitability Ratios |
| 89.8 | 88.3 | 89.3 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| 10.6 | 8.9 | 9.4 | 4.3 | 9.4 | 17.6 | 17.4 | 17.3 |
| 3.3 | 3.2 | 1.4 | -0.5 | 0.2 | 1.8 | 6.7 | 3.9 |
| 24.9 | 16.9 | 11.6 | 5.0 | 6.3 | 11.8 | 17.3 | 12.0 |
| 25.5 | 14.7 | 6.1 | -2.2 | 1.1 | 8.8 | 17.3 | 8.8 |
| 7.5 | 5.8 | 2.1 | -0.7 | 0.2 | 1.9 | 7.2 | 4.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
AVG Logistics Ltd, founded in 2010 and headquartered in Delhi, is a leading integrated **multimodal third-party logistics (3PL)** provider in India. Listed on the NSE SME platform in 2018 and migrated to the NSE Mainboard in May 2023, the company specializes in **road and rail transportation, warehousing, cold chain logistics, liquid logistics, e-commerce fulfillment, and packers & movers services**. With a pan-India footprint and strategic international operations in Nepal, Bangladesh, and Bhutan, AVG Logistics supports over 300 prestigious clients across high-growth sectors.
---
### **Recent Key Developments (Nov 2025)**
- **Secured a major 3PL contract with PepsiCo India** for end-to-end warehousing and dispatch operations at its Kosi Kalan, Uttar Pradesh facility, handling over **1 million snack cases per month** with high-performance turnaround.
- Added new marquee clients in FMCG and other sectors during FY25 and FY26, reflecting strong business expansion and diversification.
- Expanded service offerings to include **cold chain, FTL/LTL, LNG transport, international exports, and packers & movers**, underpinned by strategic ventures such as **Galaxy Packers & Movers Pvt. Ltd.** and a joint venture with **Sunil Transport (AVG Sunil Liquid Logistics)**.
---
### **Core Operations & Capabilities**
#### **Fleet & Infrastructure**
- **Fleet Size:** Operates a mixed fleet of **over 3,000 vehicles**, including **700+ owned trucks and reefers**, with daily monitoring of **1,200+ vehicles** via a central command center.
- **Specialized Fleet Assets:**
- **45-foot reefer trucks** (22-tonne payload, -25°C to +25°C) for temperature-sensitive goods.
- **Zero-residue food-grade tankers** (32m³ capacity, 22-tonne payload) for FMCG liquids.
- **Multi-door curtain-sided trucks** with dual loading levels to reduce loading time by **80%**.
- Deployment of **LNG-powered and electric vehicles (EVs)** in partnership with **Blue Energy Motors (Essar)** to drive sustainability.
#### **Warehousing & Distribution**
- Manages approximately **856,369 sq. ft. (over 8.5 lakh sq. ft.)** of warehousing space across **India’s key industrial and consumption hubs**.
- Features **WMS-enabled, fully automated warehouses** offering dedicated/shared storage, co-packing, labeling, and inventory management.
- Developing a **new 4-acre logistics hub in Khurdha, Odisha**, expected to generate **₹6–7 crore in annual revenue** upon completion.
- Serves **19,000+ Indian pincodes** via partnership with **India Post**.
#### **Cold Chain & Temperature-Controlled Logistics**
- Operates a dedicated **fleet of 400+ reefer vehicles**, catering to pharmaceuticals, dairy, chocolates, ice cream, QSR, and FMCG.
- Ensures cold chain integrity with **IoT sensors, real-time temperature monitoring, and predictive alerts**.
- Key contracts with **Nestlé, HUL (Kwality Walls), PepsiCo, and pharmaceutical clients** like GlaxoSmithKline and Ranbaxy.
- Targets **₹150 crore in reefer revenue** (FY25: ~₹80 crore), with margins of **20–25%**, significantly higher than dry freight.
#### **Multimodal & Rail Logistics**
- Market leader in **rail-cum-road logistics**, operating **7+ active rail routes** in partnership with **Indian Railways**.
- Secured a **six-year PCET (Parcel Cargo Express Train) contract** (INR 150 crore) between Bangalore–Ludhiana and additional routes such as Mysore–Kolkata.
- One cargo train replaces **60–65 truckloads**, reducing costs and **cutting CO₂ emissions by up to 75%**.
- Signed **tenders worth ₹5,100 crore** with Indian Railways, positioning AVG as a pioneer in sustainable bulk freight.
#### **International & Express Services**
- Conducts **exports to Nepal and Bangladesh** via road and rail corridors.
- Partners with **UPSRTC** (Uttar Pradesh State Road Transport Corporation) to operate express parcel services in **9,000 buses**, expected to generate **₹60 crore over 5 years**.
- Offers **100% cashless packers & movers, reverse logistics, and tech-enabled last-mile delivery**.
---
### **Financial Performance**
- **H1 FY26 Revenue:** ₹268.05 crore, reflecting sustained momentum from digital integration and network optimization.
- **FY25 Revenue:** ₹551.5 crore (crossing the ₹500 crore milestone); FY24 revenue was ₹479.89 crore (+12.35% YoY).
- **EBITDA (FY25):** ₹95.57 crore at a margin of **17.33%**, driven by cost optimization and improved asset utilization.
- Revenue for **cement logistics contract** (3-year) expected to add **₹90 crore annually** starting Q3 FY25.
---
### **Strategic Initiatives & Growth Roadmap**
1. **Diversification & Client Expansion:**
- Reduced reliance on FMCG (top clients contribute ~45% of revenue) by expanding into **steel, cement, chemicals, e-commerce, pharma, and liquid logistics**.
- New contracts with **Dalmia Cement, Tata Steel, UltraTech, and Colgate**, improving payment cycle (7 days for cement vs. 92–100 days in FMCG).
2. **Sustainability & Green Logistics:**
- Transitioning to **low-emission transport** via LNG trucks, EVs, and rail.
- Invested over **55% of FY26 capex in cold chain infrastructure**.
- Leveraging **AI, IoT, and blockchain** for route optimization, real-time tracking, and tamper-proof documentation.
3. **Technology & Innovation:**
- Uses **ADAS, GPS tracking, in-cabin cameras, tyre monitoring, and digital dashboards** for driver safety and operational transparency.
- Central command center enables **24x7 monitoring, exception management, and rapid response**.
- AI-driven logistics planning to enhance **load and route optimization**.
4. **Mergers & Acquisitions:**
- Acquired **99% stake in Kaizen Logistics** (FY24 revenue: ₹45.65 crore) to strengthen **warehousing and express logistics capabilities**, especially in **Ludhiana and coastal India**.
- Expansion into **EXIM, containerized transport, and liquid logistics** through Kaizen integration.
5. **Joint Ventures & Subsidiaries:**
- **AVG Sunil Liquid Logistics (JV with Sunil Transport):** For safe, compliant transport of edible oils, chemicals, and industrial liquids via ISO tanks.
- **Galaxy Packers & Movers (wholly owned):** Entry into the fast-growing relocation and household logistics segment, projected to reach **$1.5 billion by 2025**.
---
### **Client Base & Industries Served**
AVG Logistics serves **six core segments** with tailored, technology-enabled solutions:
- **FMCG:** Nestlé, PepsiCo, HUL, ITC, Coca-Cola, Marico
- **Pharmaceuticals & Cold Chain:** GSK, Ranbaxy, QSR chains (KFC, Domino’s, McDonald’s)
- **Automotive:** MRF, Apollo Tyres, Airtel (equipment logistics)
- **Heavy Commodities:** UltraTech Cement, Dalmia Cement, Tata Steel
- **E-commerce & Retail:** BigBasket, Amazon (via 3PL fulfillment)
- **Liquid Logistics:** Aditya Birla Group, Vedanta, Reliance Industries (Edible oils, chemicals)
---
### **Leadership & Vision**
Led by **Sanjay Gupta** (Founder, MD & CEO), with over 35 years of logistics expertise, AVG Logistics combines operational excellence with a lean, sustainable, and client-centric business model. The company envisions becoming **India’s most trusted multimodal 3PL partner**, enabling **faster, greener, and more reliable** supply chains across sectors.