Ritco Logistics reports strong Q1 FY27 performance despite Middle East conflict

Ritco Logistics reported a strong performance in Q1 FY27 despite the impact of the Middle East conflict on trade flows, the petrochemical industry and logistics operations in India. The company said its diversified customer base, disciplined operations and focus on digital transformation helped it maintain business momentum during the quarter.

Ritco’s standalone total income stood at ₹3.589 billion in Q1 FY27, up 1.31% year-on-year from ₹3.543 billion. However, it declined 7.25% quarter-on-quarter from ₹3.870 billion, primarily due to the impact of the ongoing Middle East conflict. EBITDA increased 6.22% YoY to ₹300.4 million and 14.45% QoQ.

Standalone net profit was ₹119.3 million, down 4.25% YoY from ₹124.6 million, while it increased 8.75% QoQ from ₹109.7 million. The company attributed the marginal decline in PAT primarily to a ₹36.7 million increase in depreciation expenses.

On a consolidated basis, total income increased 3.12% YoY to ₹3.668 billion, although it declined 6.89% QoQ. EBITDA rose 10.11% QoQ to ₹219 million but declined 12.99% YoY. Consolidated net profit stood at ₹34.7 million, down 61.23% YoY and 13.47% QoQ, mainly due to higher depreciation and employee benefit expenses.

During the quarter, Ritco secured business across Steel & Metals, Polymers, Energy, FMCG, Infrastructure, Pharmaceuticals, Allied Industries and Bulk Commodities. It also won a long-term transportation contract in the petrochemical sector covering multi-location movements across India.

The company expanded its presence in the Steel and Building Materials segments through new contracts covering pan-India operations and regional distribution corridors. It also secured a transportation mandate from an infrastructure player for fly ash logistics.

Ritco maintained its CRISIL A- credit rating during the quarter despite geopolitical uncertainty and operational challenges linked to the Middle East conflict. The company said the rating reflects its financial resilience, disciplined execution and business fundamentals. It also plans to raise funds in TrucksUp to accelerate its business without impacting Ritco’s cash flow.

In contract logistics, Ritco expanded its engagement across Polymers, Steel, Infrastructure, Renewable, Electrical, Tyres and Pharmaceuticals. It also added new customers in FMCG and allied industries and secured a long-term nationwide transportation mandate in the Steel & Metals segment.

The company also secured multiple warehousing contracts as part of its 3PL and warehousing expansion. It further strengthened its ability to manage large and complex supply chain requirements for a major public sector undertaking client.

Ritco continued its digital transformation during the quarter by strengthening cybersecurity awareness, application security, vulnerability management and IT security governance.

TrucksUp Solutions, Ritco’s digital logistics arm, also reported growth in Q1 FY27. Its total income increased 366.48% YoY to ₹82.1 million, compared with ₹17.6 million in Q1 FY26. Operating income rose 396.93% YoY to ₹81 million.

TrucksUp continued to expand its digital services, including FASTag, fuel cards, insurance, load matching and its load board. The platform issued 16,426 FASTags during the quarter, with FASTag GMV exceeding ₹686.4 million. It also issued 4,610 fuel cards and onboarded more than 12,000 customers onto digital fuel payment systems, with fuel card GMV reaching ₹120 million.

The TrucksUp Load Board recorded ₹13.3 million in transaction value during the quarter, while its Services vertical contributed an additional ₹0.441 million. The platform connects truck owners and brokers through its Add Load and Find Load services and now covers more than 17,000 PIN codes across metro cities, tier-2 and tier-3 markets and rural logistics clusters.

Man Mohan Pal Singh Chadha, Chairman, Ritco Logistics, said the company’s Q1 performance demonstrated the resilience and strength of its business model despite geopolitical tensions and their impact on trade flows, freight movement and operating conditions.

He said Ritco would continue to focus on customer partnerships, sectoral and geographic expansion, operational productivity and building a technology-enabled logistics platform.

Ritco Logistics is an integrated logistics and multimodal supply chain company with more than two decades of experience across contract logistics, multimodal transport, warehousing and 3PL, in-plant operations, consulting and fleet management. The company operates a national network with 4.5 lakh sq. ft. of warehousing space, a modern fleet and digital capabilities.