Paradeep Parivahan Reports 17.6% Revenue Growth and 27.6% EBITDA Growth in H1 FY27

VMPL
Paradeep/ Bhubaneswar (Odisha) [India], November 12: Paradeep Parivahan Limited (BSE SME: 544383), an integrated port logistics, cargo handling and infrastructure services provider, announced its unaudited financial results for the half year ended 30 September 2026 (H1 FY27), approved by its Board of Directors on 11 November 2026.
Consolidated revenue from operations grew 17.6% year-on-year (YoY) to ₹216.64 crore, while EBITDA increased 27.6% to ₹34.40 crore. EBITDA margin improved by 124 basis points to 15.88%, and profit after tax (PAT) rose 8.0% to ₹18.47 crore. Performance was supported by growth in equipment hiring, infrastructure construction, trading and the initial deployment of the Company’s Green Logistics EV fleet.
In the first half of FY27, the Company posted revenue of ₹216.6 crore, up 17.6% YoY. EBITDA was ₹34.4 crore, up 27.6%, and PAT was ₹18.5 crore, up 8.0%. The Company has an order pipeline of ₹1,050 crore and has ordered 150 electric vehicles.
KEY FINANCIAL HIGHLIGHTS
On a consolidated basis, revenue from operations for H1 FY27 rose 17.6% to ₹216.64 crore from ₹184.16 crore in H1 FY26. Other income increased 474.2% to ₹1.17 crore from ₹0.20 crore. Together, these took total income to ₹217.80 crore, 18.1% higher than ₹184.36 crore a year earlier.
EBITDA grew 27.6% to ₹34.40 crore from ₹26.95 crore, and the EBITDA margin expanded by 124 bps to 15.88% from 14.63%. Profit before tax rose 19.5% to ₹24.85 crore from ₹20.79 crore. Profit after tax increased 8.0% to ₹18.47 crore from ₹17.11 crore, while the PAT margin narrowed by 76 bps to 8.53% from 9.29%. Basic earnings per share rose 7.9% to ₹11.60 from ₹10.75.
Note: EBITDA = Profit before tax + finance costs + depreciation & amortisation (including other income), consistent with Company disclosures. Consolidated results include wholly owned subsidiaries acquired w.e.f. 20 August 2025. Standalone H1 FY27 revenue stood at ₹201.66 crore (+13.1% YoY) with PAT of ₹16.72 crore.
H1 FY27 revenue represented 51.7% of FY26 revenue of ₹418.92 crore. EBITDA margin also improved from 13.13% in H2 FY26, reflecting a stronger contribution from equipment hiring and construction. PAT growth absorbed higher depreciation of ₹5.56 crore (H1 FY26: ₹3.31 crore) and finance costs of ₹4.00 crore (H1 FY26: ₹2.85 crore), associated with fleet and asset expansion.
HALF-YEARLY & SEGMENT PERFORMANCE
Revenue from operations of ₹216.64 crore in H1 FY27 was 17.6% higher than ₹184.16 crore in H1 FY26. It was 7.7% lower than ₹234.76 crore in H2 FY26, half on half (HoH). For the full year FY26, revenue from operations stood at ₹418.92 crore.
EBITDA of ₹34.40 crore rose 27.6% YoY from ₹26.95 crore and 11.6% HoH from ₹30.83 crore, against ₹57.78 crore for full-year FY26. The EBITDA margin of 15.88% was 124 bps higher than 14.63% in H1 FY26 and 275 bps higher than 13.13% in H2 FY26. It also compares with 13.79% for FY26 as a whole.
Profit after tax of ₹18.47 crore was up 8.0% YoY from ₹17.11 crore and 12.2% HoH from ₹16.46 crore, compared with ₹33.57 crore for the full year FY26. The PAT margin of 8.53% was 76 bps below 9.29% in H1 FY26. It was 151 bps above 7.01% in H2 FY26 and ahead of the full-year FY26 margin of 8.01%.
Business Verticals: Gross consolidated segment revenue grew 25.2% YoY to ₹230.61 crore before inter-segment eliminations of ₹13.98 crore. Transportation and cargo/rake/vessel handling together contributed ₹146.17 crore, or 63.4% of gross segment revenue. Earth-moving equipment hiring grew 42.2% to ₹45.30 crore, while construction revenue increased nearly 8.7 times to ₹15.73 crore. Bulk trading contributed ₹23.29 crore.
Segment Profitability: Total segment profit before unallocable interest and tax increased 22.0% YoY to ₹28.84 crore. Transportation contributed ₹10.39 crore, cargo and rake handling ₹7.43 crore, earth-moving equipment hiring ₹6.70 crore, trading ₹2.66 crore and construction ₹1.61 crore.
BALANCE SHEET AND CASH FLOW
As of 30 September 2026, consolidated net worth, including share warrants, stood at ₹182.89 crore, compared with ₹164.42 crore on 31 March 2026. Total borrowings rose to ₹123.17 crore from ₹69.75 crore, taking the debt-to-equity ratio to 0.67x from 0.42x. Property, plant and equipment, including capital work-in-progress, nearly doubled to ₹78.22 crore from ₹40.31 crore.
Over the same period, trade receivables increased to ₹107.29 crore from ₹92.62 crore and inventories to ₹18.01 crore from ₹14.85 crore. Trade payables declined to ₹6.23 crore from ₹15.60 crore. Cash and bank balances stood at ₹23.40 crore, against ₹30.71 crore at the end of March 2026.
Net worth increased to ₹182.89 crore from ₹164.42 crore at FY26-end. The Company invested ₹43.21 crore in capital expenditure during H1 FY27 to support fleet expansion and contract execution. Operating cash flow was ₹(12.55) crore, reflecting higher working capital deployment, including a ₹14.67 crore increase in trade receivables and a ₹9.36 crore reduction in trade payables. Borrowings stood at ₹123.17 crore, with a debt-to-equity ratio of 0.67x and cash and bank balances of ₹23.40 crore. The Company also reported zero deviation in utilisation of its ₹44.86 crore IPO proceeds, of which ₹44.80 crore had been utilised towards working capital as of 30 September 2026.
OPERATIONAL HIGHLIGHTS
*         Green Logistics: Commenced its first electric freight deployment for UltraTech Cement and secured a new contract with the JSW Group, with 150 EV orders.
*         Order Pipeline: Built a strong long-term order pipeline of ₹1,050 crore, providing visibility for future business growth.
*         Established Client Relationships: The Company’s business relationships include leading names such as IFFCO, JM Baxi Group, JSW Group, UltraTech Cement, Godawari Power & Ispat, Ripley, L&T and KBR Logistics.
*         Fleet Expansion: Transportation fleet is expected to expand approximately threefold over March 2026 levels as long-term contracts ramp up.
*         Industry Recognition: Received the LEAP 2026 Award from the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India.
*         Business Expansion: Expanded its geographic footprint, customer relationships and business verticals while sustaining margin improvement despite import-related and crude oil price volatility.
OUTLOOK AND GROWTH DRIVERS
India’s maritime and industrial logistics sector is supported by port capacity additions, domestic manufacturing growth and policy support for clean freight. Paradip Port, the Company’s primary operating hub, handled a record 156.45 MMT of cargo in FY26 and is undergoing a 25 MTPA Western Dock expansion, with Phase I of 12.5 MTPA under commissioning. This is expected to create opportunities in cargo handling, rake movement and intra-port logistics.
The Company is focused on deepening its presence at Paradip Port and IFFCO’s Paradip facility, scaling Green Logistics under the Government of India’s PM E-DRIVE framework, and expanding its transportation fleet by approximately three times. These initiatives are expected to support growth and operating leverage through H2 FY27 and beyond.
MANAGEMENT PERSPECTIVE
Mr. Khalid Khan, Managing Director & Chief Executive Officer of Paradeep Parivahan Limited, said:
“We are pleased to report a resilient and profitable performance in H1 FY27, with consolidated revenue growing 17.6% YoY to ₹216.64 crore and EBITDA rising 27.6% YoY to ₹34.40 crore. Our EBITDA margin expanded by 124 basis points to 15.88%, reflecting disciplined execution and strong growth across our earth-moving equipment hiring and infrastructure construction verticals despite external macro and crude oil volatility.
A major milestone during the half year was commencing our first Green Logistics EV deployment for UltraTech Cement alongside securing a new mandate with the JSW Group. With orders for 150 electric vehicles already in place and a healthy long-term order book of ₹1,050 crore across blue-chip industrial customers, we have clear multi-year visibility. We are also proud to have been recognised with the LEAP 2026 Award by DPIIT, Ministry of Commerce & Industry.
As Paradip Port expands its cargo handling capacity and industrial customers accelerate their transition toward sustainable logistics, we are scaling our transportation fleet by nearly 3x over March 2026 levels. Our focus in H2 FY27 remains on timely contract execution, disciplined capital allocation, and delivering sustainable long-term value for all stakeholders.”
ABOUT PARADEEP PARIVAHAN LIMITED
Paradeep Parivahan Limited (BSE SME: 544383), headquartered in Paradeep, Odisha, is an integrated port logistics, cargo handling and infrastructure services company, listed on the BSE SME Platform in March 2025. Its business spans cargo handling and shore-based assets, equipment and infrastructure, bulk trading, and marine and defence infrastructure. Supported by an in-house fleet and four wholly owned subsidiaries, the Company serves customers across cement, steel, fertilisers, power and maritime sectors.
INVESTOR RELATIONS
Usha Rani Ray · Company Secretary & Compliance Officer | [email protected] 
·+91-6722-223416/+91-674-2590169 | www.paradeepparivahan.com 
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