• Volume growth targets: Despite West Asia conflict disruptions affecting broader shipping cycles, the company is guiding for normalized double-digit volume growth in the rail business and 3% to 5% growth in the CFS segment.
• Cold chain recovery: Margins fell sharply to around 1% due to one-off wage code impacts and weaker consumption, but are expected to return to normal levels next quarter following pricing corrections.
• CAPEX and expansion: The company has planned a ₹250 to ₹300 crore CAPEX over the next two years to fund the Indore project scheduled for early 2028, Jaipur clearance, three new trains, and EV fleet acquisitions.
• Double-stacking and share: Double-stacking is targeted at 43% to 44% with upcoming Western DFC connectivity at Bombay, while regional market share stands at approximately 18% in NCR and 27% in Ludhiana.