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Trejhara Solutions Ltd

TREJHARA

NSE

₹119.62-4.94%19 Oct 2026

Reports

IT Services

Trejhara Solutions Ltd

TREJHARA

NSE

₹119.62

-4.94%

19 Oct 2026

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IT Services

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.

Trejhara Solutions began as a broad technology-products company but has, over a two-year transformation, shed every business that was not logistics to become a pure, end-to-end supply-chain partner - a software provider and a freight forwarder under one roof, with a fresh bet on trade fairs. The recurring approach is to buy or build a capability in one part of the logistics chain, then bolt on the next link so that customers never need to go elsewhere.

Business segments

Three engines at different stages - a proprietary software platform that digitises supply chains, a freight-forwarding arm that physically moves goods, and a newly acquired exhibitions venture - each extending the company’s reach across the same logistics landscape.

1. SCMProFit: the digital backbone that runs supply chains

A proprietary software suite that gives logistics-heavy companies a single screen to see, control and execute every movement of goods - from warehouse shelf to last-mile delivery.

One platform, many moving parts - SCMProFit bundles modules for freight forwarding, B2B warehousing, project logistics, transportation, e-commerce fulfilment, manufacturing visibility and even vaccine cold chains, so a customer can pick the pieces it needs without stitching together separate systems.
Paid as a service, not a one-off sale - revenue comes from Software-as-a-Service subscriptions (right-to-access over time), licence sales (right-to-use at a point in time), implementation fees and annual maintenance contracts, creating a recurring stream that grows with the client’s usage.
Built on its own intellectual property - the company has invested consistently in R&D to strengthen its own codebase across transport, warehousing and last-mile delivery, which means it can tailor the product to a customer’s exact workflow rather than reselling someone else’s generic tool.
Recognised by the industry it serves - SCMProFit won ‘SCM Solution Provider of the Year’ at the 2021 Warehouse & Logistics Excellence Awards and counts many logistics players among its customers, so the platform is tested in the same real-world operations it helps manage.

2. Freight forwarding and logistics services: the physical engine that moves the goods

A chemical-industry specialist that books, moves and delivers cargo across India and the Middle East, now fully owned and operated in-house.

Acquired, not built from scratch - the company absorbed LP Logistics, an operating freight forwarder with large India and Middle-East operations, through an amalgamation completed in October 2025, instantly adding physical logistics capabilities to its software DNA.
A Dubai foothold with a performance-linked deal - it then bought 100% of Dubai-based LP Logistics Plus LLC for up to US$ 12.5 million, with US$ 9.5 million paid upfront and the remaining balance paid in tranches, giving the seller a reason to keep the business growing after the sale.
Licensed to carry anything, anywhere - the company holds a Multimodal Transport Operator licence, which lets it move cargo across sea, road and rail under a single contract, so a customer gets one throat to choke instead of coordinating three carriers.
Chemicals are the sweet spot - while it handles freight across industries, the group explicitly specialises in the chemical sector, a niche where handling rules, safety and paperwork are complex enough that shippers pay for expertise rather than shopping on price alone.

3. Exhibitions and trade fairs: the new venture that fills the venue

A majority-owned bet on the business of putting on trade shows, bought by acquiring a 30-year veteran of the Indian exhibitions circuit.

Bought an entire business, not just a stake - Trejhara put ₹28.5 crore into a 60%-owned joint venture that then acquired the full business undertaking of GS Marketing Associates, a partnership that has run more than 185 exhibitions over three decades, so the venture started with a track record and a Rolodex, not a blank page.
A right to own it all - the structure gives Trejhara the option to buy the remaining 40% within three years, which means it can take full control once the business proves itself inside the group.
Logistics feeds the fairs - exhibitions need freight, warehousing and on-ground coordination, all of which sit inside the same company now, so the venture can serve its own events and keep margin that would otherwise go to an outside forwarder.

Group structure and partners

A tightly held logistics group assembled through a series of all-cash divestitures and share-based mergers, with the founding promoters still at the controls.

Shed the past to pay for the future - the company sold its interactive-communication unit to Aurionpro Solutions for ₹140 crore in cash and its material subsidiary, Aurionpro Solutions W.L.L, for US$ 6.5 million, exiting every non-logistics business to fund the pivot.
Merged the flagship logistics asset with shares, not cash - the amalgamation of LP Logistics Plus Chemical SCM was settled by issuing two Trejhara shares for every one share of the target, which conserved cash and gave the sellers a continuing stake in the combined entity.
Promoters doubled down alongside outside backers - a February 2026 preferential issue brought in both promoter capital (Paresh Zaveri took 25 lakh warrants) and new institutional money, including Ajay Sarupria and a Barclays Wealth trust, signalling that insiders and outsiders both bought into the logistics-only story.
Leadership spans software and physical logistics - Chairman Amit Sheth brings nearly three decades in technology and finance, while Non-Executive Director Snehal Pandit leads the supply-chain arm with 26 years in logistics product development and solution selling, so the boardroom covers both halves of the business.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Mkt Cap

Market Capitalization

₹288Cr

Close Price

₹119.62

Industry

IT Services

Price To Earnings

22.23

Price To Sales

1.63

Revenue

₹177Cr

Rev Gr TTM

Revenue Growth TTM

70.30%

PAT Gr TTM

PAT Growth TTM

267.53%

Upcoming Results on

6 Nov 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	6	6	6	6	26	6	39	33	34	34	42	68
Growth YoY Revenue Growth YoY%	-6.4	-63.2	12.0	50.1	327.5	0.9	510.3	439.5	31.6	426.6	6.7	107.2
Expenses ExpensesCr	3	4	7	5	24	5	37	31	32	32	40	61
Operating Profit Operating ProfitCr	3	3	0	1	1	2	2	2	2	2	1	7
OPM OPM%	42.8	42.9	-1.2	21.3	5.8	25.4	5.9	6.5	6.5	6.2	3.4	9.8
Other Income Other IncomeCr	-1	0	13	1	1	0	1	0	4	1	3	1
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	1
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	1	2	12	1	2	1	2	1	5	2	3	5
Tax TaxCr	0	0	1	0	0	0	1	0	1	0	0	1
PAT PATCr	4	2	10	1	1	1	1	1	4	1	3	5
Growth YoY PAT Growth YoY%	-0.8	-54.5	103.3	-76.9	-66.6	-58.0	-91.7	-26.4	176.7	83.3	274.4	614.9
NPM NPM%	64.0	24.7	161.0	15.0	5.0	10.3	2.2	2.0	10.5	3.6	7.7	7.1
EPS EPS₹	0.4	1.2	7.1	0.6	0.6	0.5	0.4	0.3	1.5	0.5	1.4	2.0

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	6	6	6	6	26	6	39	33	34	34	42	68
Growth YoY Revenue Growth YoY%	-6.4	-63.2	12.0	50.1	327.5	0.9	510.3	439.5	31.6	426.6	6.7	107.2
Expenses ExpensesCr	3	4	7	5	24	5	37	31	32	32	40	61
Operating Profit Operating ProfitCr	3	3	0	1	1	2	2	2	2	2	1	7
OPM OPM%	42.8	42.9	-1.2	21.3	5.8	25.4	5.9	6.5	6.5	6.2	3.4	9.8
Other Income Other IncomeCr	-1	0	13	1	1	0	1	0	4	1	3	1
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	1
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	1	2	12	1	2	1	2	1	5	2	3	5
Tax TaxCr	0	0	1	0	0	0	1	0	1	0	0	1
PAT PATCr	4	2	10	1	1	1	1	1	4	1	3	5
Growth YoY PAT Growth YoY%	-0.8	-54.5	103.3	-76.9	-66.6	-58.0	-91.7	-26.4	176.7	83.3	274.4	614.9
NPM NPM%	64.0	24.7	161.0	15.0	5.0	10.3	2.2	2.0	10.5	3.6	7.7	7.1
EPS EPS₹	0.4	1.2	7.1	0.6	0.6	0.5	0.4	0.3	1.5	0.5	1.4	2.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	88	77	58	54	58	22	23	116	142	177
Growth Revenue Growth%		-11.8	-24.3	-7.3	7.6	-61.6	1.8	406.6	22.9	70.3
Expenses ExpensesCr	73	61	48	40	44	20	17	109	134	165
Operating Profit Operating ProfitCr	14	16	10	14	14	3	6	7	8	12
OPM OPM%	16.5	20.9	17.3	26.5	24.8	12.6	26.5	6.2	5.5	7.0
Other Income Other IncomeCr	0	6	4	2	2	-225	14	4	8	9
Interest Expense Interest ExpenseCr	5	6	5	2	2	2	1	1	1	2
Depreciation DepreciationCr	2	1	1	1	1	2	4	4	4	4
PBT PBTCr	7	15	8	13	14	-227	15	7	11	15
Tax TaxCr	0	3	1	2	3	-4	1	2	2	2
PAT PATCr	7	12	7	11	11	-223	14	4	9	13
Growth PAT Growth%		71.1	-43.5	59.9	-1.2	-2,130.0	106.3	-69.8	104.5	267.5
NPM NPM%	8.2	15.9	11.9	20.5	18.8	-992.0	61.4	3.7	6.1	7.2
EPS EPS₹	6.0	11.2	5.9	9.4	9.5	-253.2	15.5	1.8	3.7	5.4

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	88	77	58	54	58	22	23	116	142	177
Growth Revenue Growth%		-11.8	-24.3	-7.3	7.6	-61.6	1.8	406.6	22.9	70.3
Expenses ExpensesCr	73	61	48	40	44	20	17	109	134	165
Operating Profit Operating ProfitCr	14	16	10	14	14	3	6	7	8	12
OPM OPM%	16.5	20.9	17.3	26.5	24.8	12.6	26.5	6.2	5.5	7.0
Other Income Other IncomeCr	0	6	4	2	2	-225	14	4	8	9
Interest Expense Interest ExpenseCr	5	6	5	2	2	2	1	1	1	2
Depreciation DepreciationCr	2	1	1	1	1	2	4	4	4	4
PBT PBTCr	7	15	8	13	14	-227	15	7	11	15
Tax TaxCr	0	3	1	2	3	-4	1	2	2	2
PAT PATCr	7	12	7	11	11	-223	14	4	9	13
Growth PAT Growth%		71.1	-43.5	59.9	-1.2	-2,130.0	106.3	-69.8	104.5	267.5
NPM NPM%	8.2	15.9	11.9	20.5	18.8	-992.0	61.4	3.7	6.1	7.2
EPS EPS₹	6.0	11.2	5.9	9.4	9.5	-253.2	15.5	1.8	3.7	5.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	0	12	12	12	12	12	15	24	24
Reserves ReservesCr	390	394	441	429	445	168	207	212	236
Current Liabilities Current LiabilitiesCr	108	107	111	91	112	127	18	25	96
Non Current Liabilities Non Current LiabilitiesCr	18	19	32	30	23	21	2	2	2
Total Liabilities Total LiabilitiesCr	516	532	596	580	610	346	241	264	396
Current Assets Current AssetsCr	299	316	343	332	358	178	123	141	146
Non Current Assets Non Current AssetsCr	217	216	254	248	253	168	118	123	250
Total Assets Total AssetsCr	516	532	596	580	610	346	241	264	396

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	0	12	12	12	12	12	15	24	24
Reserves ReservesCr	390	394	441	429	445	168	207	212	236
Current Liabilities Current LiabilitiesCr	108	107	111	91	112	127	18	25	96
Non Current Liabilities Non Current LiabilitiesCr	18	19	32	30	23	21	2	2	2
Total Liabilities Total LiabilitiesCr	516	532	596	580	610	346	241	264	396
Current Assets Current AssetsCr	299	316	343	332	358	178	123	141	146
Non Current Assets Non Current AssetsCr	217	216	254	248	253	168	118	123	250
Total Assets Total AssetsCr	516	532	596	580	610	346	241	264	396

Consolidated

Standalone

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-16	36	16	0	17	19	-123	5	-5
Investing Cash Flow Investing Cash FlowCr	-2	-7	-6	3	-6	-10	137	-6	-53
Financing Cash Flow Financing Cash FlowCr	17	-28	-9	-3	-11	-8	-14	3	65
Net Cash Flow Net Cash FlowCr	-1	0	1	-1	0	1	0	2	6
Free Cash Flow Free Cash FlowCr	-16	36	16	0	17	19	-123	5	-6
CFO To PAT CFO To PAT%	-218.8	289.1	224.9	-0.6	154.8	-8.3	-876.1	129.0	-62.6
CFO To EBITDA CFO To EBITDA%	-108.6	220.1	154.5	-0.5	117.2	652.9	-2,027.8	75.8	-69.4

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-16	36	16	0	17	19	-123	5	-5
Investing Cash Flow Investing Cash FlowCr	-2	-7	-6	3	-6	-10	137	-6	-53
Financing Cash Flow Financing Cash FlowCr	17	-28	-9	-3	-11	-8	-14	3	65
Net Cash Flow Net Cash FlowCr	-1	0	1	-1	0	1	0	2	6
Free Cash Flow Free Cash FlowCr	-16	36	16	0	17	19	-123	5	-6
CFO To PAT CFO To PAT%	-218.8	289.1	224.9	-0.6	154.8	-8.3	-876.1	129.0	-62.6
CFO To EBITDA CFO To EBITDA%	-108.6	220.1	154.5	-0.5	117.2	652.9	-2,027.8	75.8	-69.4

Consolidated

Standalone

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		30	7	35	81	64	219	267	344	288
Price To Earnings Price To Earnings		2.5	1.0	3.1	7.4		11.1	63.1	40.3	22.2
Price To Sales Price To Sales		0.4	0.1	0.6	1.4	2.9	9.6	2.3	2.4	1.6
Price To Book Price To Book		0.1	0.0	0.1	0.2	0.4	1.0	1.2	1.3	1.1
EV To EBITDA EV To EBITDA		5.0	3.3	4.7	7.2	29.3	36.1	35.8	44.3	24.7
Profitability Ratios Profitability Ratios
GPM GPM%	47.5	57.9	70.3	84.1	81.8	73.4	80.9	26.7	28.0	28.0
OPM OPM%	16.5	20.9	17.3	26.5	24.8	12.6	26.5	6.2	5.5	7.0
NPM NPM%	8.2	15.9	11.9	20.5	18.8	-992.0	61.4	3.7	6.1	7.2
ROCE ROCE%	2.7	4.7	2.7	3.1	3.2	-112.2	7.2	2.9	4.1	4.1
ROE ROE%	1.8	3.0	1.5	2.5	2.4	-123.9	6.3	1.8	3.3	3.3
ROA ROA%	1.4	2.3	1.2	1.9	1.8	-64.3	5.8	1.6	2.2	2.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		30	7	35	81	64	219	267	344	288
Price To Earnings Price To Earnings		2.5	1.0	3.1	7.4		11.1	63.1	40.3	22.2
Price To Sales Price To Sales		0.4	0.1	0.6	1.4	2.9	9.6	2.3	2.4	1.6
Price To Book Price To Book		0.1	0.0	0.1	0.2	0.4	1.0	1.2	1.3	1.1
EV To EBITDA EV To EBITDA		5.0	3.3	4.7	7.2	29.3	36.1	35.8	44.3	24.7
Profitability Ratios Profitability Ratios
GPM GPM%	47.5	57.9	70.3	84.1	81.8	73.4	80.9	26.7	28.0	28.0
OPM OPM%	16.5	20.9	17.3	26.5	24.8	12.6	26.5	6.2	5.5	7.0
NPM NPM%	8.2	15.9	11.9	20.5	18.8	-992.0	61.4	3.7	6.1	7.2
ROCE ROCE%	2.7	4.7	2.7	3.1	3.2	-112.2	7.2	2.9	4.1	4.1
ROE ROE%	1.8	3.0	1.5	2.5	2.4	-123.9	6.3	1.8	3.3	3.3
ROA ROA%	1.4	2.3	1.2	1.9	1.8	-64.3	5.8	1.6	2.2	2.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	ABMKNO	SYSTANGO	NOVUS	TREJHARA	VERTOZ	TERASOFT	ACEALPHA
Market CapitalizationMkt CapCr	314	311	299	288	279	272	271
Close PriceClose₹	156.99	212.10	192.00	119.62	32.79	217.50	154.60
IndustryIndustry	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services
Price To EarningsPE	35.52	9.76		22.23	10.38	10.97	16.91
Price To SalesPS	3.00	3.44	2.34	1.63	0.92	1.07	11.20
RevenueRevenueCr	105	90	127	177	303	255	24
Revenue Growth TTMRev Gr TTM%	4.4%	34.6%		70.3%	14.1%	120.9%	56.0%
PAT Growth TTMPAT Gr TTM%	-47.0%	34.3%		267.5%	2.3%	124.6%	35.8%

	ABMKNO	SYSTANGO	NOVUS	TREJHARA	VERTOZ	TERASOFT	ACEALPHA
Market CapitalizationMkt CapCr	314	311	299	288	279	272	271
Close PriceClose₹	156.99	212.10	192.00	119.62	32.79	217.50	154.60
IndustryIndustry	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services	IT Services
Price To EarningsPE	35.52	9.76		22.23	10.38	10.97	16.91
Price To SalesPS	3.00	3.44	2.34	1.63	0.92	1.07	11.20
RevenueRevenueCr	105	90	127	177	303	255	24
Revenue Growth TTMRev Gr TTM%	4.4%	34.6%		70.3%	14.1%	120.9%	56.0%
PAT Growth TTMPAT Gr TTM%	-47.0%	34.3%		267.5%	2.3%	124.6%	35.8%

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