# Logistics — company-by-company sector analysis

> Logistics: Container Corporation Of India Ltd owns the largest revenue base; Shadowfax Technologies Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-18. Not investment advice.

## Bottom line

Logistics has outperformed NIFTY 500 by 10.2% over 52 weeks and 8.8% over 13 weeks. 5 of 17 covered companies beat NIFTY on Mansfield relative strength, while 7 of 17 beat the sector itself. Container Corporation Of India Ltd leads with revenue of ₹9,086 crore, based on 17 of 18 comparable companies through Jun 2026.

## Sector relative strength

Logistics has outperformed NIFTY 500 by 10.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 8.8%. 5 of 17 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Aegis Logistics Ltd is the strongest against the sector itself at +41.4%. Readings are as of 2026-08-09.

13-week sector return versus NIFTY 500: 8.8%
52-week sector return versus NIFTY 500: 10%
Stocks leading NIFTY: 5/17
Stocks leading sector: 7/17

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 18
Combined market value: ₹1.4 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Aegis Logistics Ltd (AEGISLOG): 71/100 — Favorable setup; evidence 82%
   - Growth & earnings 26.8/35 | Capital efficiency 17.1/25 | Valuation 7.1/20 | Relative strength 20.0/20
   - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 26.8 + 17.1 + 7.1 + 20 = 71
   - Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2. Blackbuck Ltd (BLACKBUCK): 59/100 — Mixed-positive evidence; evidence 87%
   - Growth & earnings 24.9/35 | Capital efficiency 13.1/25 | Valuation 7.9/20 | Relative strength 13.1/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 9 weeks with a reading, within the last 12
   - Exact sum: 24.9 + 13.1 + 7.9 + 13.1 = 59
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Shadowfax Technologies Ltd (SHADOWFAX): 58/100 — Mixed-positive evidence; evidence 60%
   - Growth & earnings 31.4/35 | Capital efficiency 7.5/25 | Valuation 9.1/20 | Relative strength 10.0/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 31.4 + 7.5 + 9.1 + 10 = 58
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. S J Logistics (India) Ltd (SJLOGISTIC): 58/100 — Mixed-positive evidence; evidence 73%
   - Growth & earnings 21.6/35 | Capital efficiency 19.5/25 | Valuation 12.8/20 | Relative strength 3.6/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 6 of 10 weeks with a reading, within the last 12
   - Exact sum: 21.6 + 19.5 + 12.8 + 3.6 = 57.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. Sical Logistics Ltd (SICALLOG): 56/100 — Mixed-positive evidence; evidence 72%
   - Growth & earnings 20.0/35 | Capital efficiency 9.6/25 | Valuation 8.5/20 | Relative strength 18.1/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of 11 weeks with a reading, within the last 12
   - Exact sum: 20 + 9.6 + 8.5 + 18.1 = 56.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Gateway Distriparks Ltd (GATEWAY): 55/100 — Mixed-positive evidence; evidence 94%
   - Growth & earnings 15.6/35 | Capital efficiency 12.0/25 | Valuation 18.3/20 | Relative strength 9.3/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 10 weeks with a reading, within the last 12
   - Exact sum: 15.6 + 12 + 18.3 + 9.3 = 55.2
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
7. JITF Infra Logistics Ltd (JITFINFRA): 54/100 — Mixed-positive evidence; evidence 63%
   - Growth & earnings 17.2/35 | Capital efficiency 16.5/25 | Valuation 10.0/20 | Relative strength 10.4/20
   - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of 10 weeks with a reading, within the last 12
   - Exact sum: 17.2 + 16.5 + 10 + 10.4 = 54.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Allcargo Terminals Ltd (ATL): 53/100 — Mixed-positive evidence; evidence 87%
   - Growth & earnings 22.8/35 | Capital efficiency 14.3/25 | Valuation 14.1/20 | Relative strength 1.7/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 22.8 + 14.3 + 14.1 + 1.7 = 52.9
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.4% and the one-year return is -15.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
9. Tejas Cargo India Ltd (TEJASCARGO): 52/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 15.6/35 | Capital efficiency 13.9/25 | Valuation 9.4/20 | Relative strength 12.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of 11 weeks with a reading, within the last 12
   - Exact sum: 15.6 + 13.9 + 9.4 + 12.9 = 51.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10. Blue Dart Express Ltd (BLUEDART): 49/100 — Mixed-negative evidence; evidence 94%
   - Growth & earnings 19.2/35 | Capital efficiency 16.7/25 | Valuation 6.6/20 | Relative strength 6.8/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12
   - Exact sum: 19.2 + 16.7 + 6.6 + 6.8 = 49.3
   - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
11. Transport Corporation of India Ltd (TCI): 48/100 — Mixed-negative evidence; evidence 100%
   - Growth & earnings 15.7/35 | Capital efficiency 15.9/25 | Valuation 13.3/20 | Relative strength 2.6/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 15.7 + 15.9 + 13.3 + 2.6 = 47.5
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
12. Sindhu Trade Links Ltd (SINDHUTRAD): 43/100 — Mixed-negative evidence; evidence 69%
   - Growth & earnings 14.5/35 | Capital efficiency 7.4/25 | Valuation 9.6/20 | Relative strength 11.8/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 10 weeks with a reading, within the last 12
   - Exact sum: 14.5 + 7.4 + 9.6 + 11.8 = 43.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13. TransIndia Real Estate Ltd (TREL): 43/100 — Mixed-negative evidence; evidence 87%
   - Growth & earnings 11.3/35 | Capital efficiency 10.7/25 | Valuation 13.7/20 | Relative strength 7.2/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 11.3 + 10.7 + 13.7 + 7.2 = 42.9
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
14. Ritco Logistics Ltd (RITCO): 43/100 — Mixed-negative evidence; evidence 87%
   - Growth & earnings 11.4/35 | Capital efficiency 8.1/25 | Valuation 8.3/20 | Relative strength 14.9/20
   - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks
   - Exact sum: 11.4 + 8.1 + 8.3 + 14.9 = 42.7
   - Decision use: Price leads the evidence: RS versus the benchmark is 15.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
15. Container Corporation Of India Ltd (CONCOR): 41/100 — Mixed-negative evidence; evidence 100%
   - Growth & earnings 13.0/35 | Capital efficiency 14.8/25 | Valuation 5.8/20 | Relative strength 7.6/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 13 + 14.8 + 5.8 + 7.6 = 41.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16. Western Carriers (India) Ltd (WCIL): 32/100 — Adverse evidence; evidence 74%
   - Growth & earnings 9.5/35 | Capital efficiency 7.7/25 | Valuation 10.6/20 | Relative strength 4.1/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 10 weeks with a reading, within the last 12
   - Exact sum: 9.5 + 7.7 + 10.6 + 4.1 = 31.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17. Reliance Industrial Infrastructure Ltd (RIIL): 28/100 — Adverse evidence; evidence 81%
   - Growth & earnings 10.3/35 | Capital efficiency 4.4/25 | Valuation 7.5/20 | Relative strength 5.8/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of 10 weeks with a reading, within the last 12
   - Exact sum: 10.3 + 4.4 + 7.5 + 5.8 = 28
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18. Allcargo Gati Ltd(Merged) (ACLGATI): 38/100 — Thin evidence · provisional; evidence 41%
   - Growth & earnings 16.4/35 | Capital efficiency 5.6/25 | Valuation 8.7/20 | Relative strength 7.1/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks, ending 2025-11-12 (no longer priced)
   - Exact sum: 16.4 + 5.6 + 8.7 + 7.1 = 37.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Aegis Logistics Ltd has the strongest one-year price move in Logistics at +77.5%. It also leads on Mansfield relative strength against NIFTY at +52%. 5 of 17 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

### Strongest one-year price performers
1. Aegis Logistics Ltd (AEGISLOG): 78%
2. Tejas Cargo India Ltd (TEJASCARGO): 58%
3. Sical Logistics Ltd (SICALLOG): 31%
4. Blackbuck Ltd (BLACKBUCK): 9.5%
5. Allcargo Gati Ltd(Merged) (ACLGATI): 6.4%

### Strongest relative strength versus NIFTY 500
1. Aegis Logistics Ltd (AEGISLOG): 52%
2. Sical Logistics Ltd (SICALLOG): 45%
3. Tejas Cargo India Ltd (TEJASCARGO): 30%
4. Ritco Logistics Ltd (RITCO): 15%
5. Container Corporation Of India Ltd (CONCOR): 2.6%

## Logistics — the story behind the numbers

This is the written read behind the Logistics figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 29 Jul 2026. 5 themes are live here, 2 of them rated high severity.

The sector shows split performance between asset-heavy expansion and margin pressure. SJLOGISTIC leverages vessel operations for growth. RITCO faces margin compression despite revenue gains. Investors should monitor fuel costs and working capital cycles.

The logistics sector displays divergent performance trajectories in FY26. SJLOGISTIC reported FY26 revenue of ₹653.8 Cr, up 30.1% YoY, with PAT rising 44.4% YoY to ₹75.8 Cr. In contrast, RITCO posted Q4 FY26 revenue of ₹391.83 crore, up 13.44% YoY, but PAT declined 53.22% YoY to ₹5.60 crore.

How old this read is: This read comes from our Logistics sector brief dated 29 Jul 2026, so the words here and the numbers above them cover the same few weeks.

### Live themes, worst first
- HIGH | Fuel price volatility impacts profitability margins. RITCO cites 10% PAT impact. SJLOGISTIC cites 5-10% PAT impact. | RITCO uses escalation clauses in contracts based on diesel cost changes. | named for RITCO, SJLOGISTIC
- HIGH | RITCO cites margin collapse due to cost pressures. SJLOGISTIC cites negative operating cash flow due to working capital-intensive growth. | RITCO focuses on technology integration. SJLOGISTIC raises equity capital to support capital structure. | named for RITCO, SJLOGISTIC
- MEDIUM | Transition to BS-VI norms and emission restrictions could increase fleet costs. | RITCO opting for new fleet supporting better efficiency and lower emissions. | named for RITCO
- LOW | Government policies and regulations cited as potential risks to future business prospects. | named for SJLOGISTIC
- LOW | RITCO cites dependency on market fleet exposing driver shortages. SJLOGISTIC cites ability to attract skilled professionals. | RITCO onboarded over 1 lakh vehicles to improve fleet visibility. | named for RITCO, SJLOGISTIC

Sources: our Logistics sector brief, 29 Jul 2026.

## Revenue Scale & Growth Durability

What the numbers say: Container Corporation Of India Ltd is the scale leader at ₹9,086 crore, 1.3% ahead of Aegis Logistics Ltd. Shadowfax Technologies Ltd's growth is 70.8% from a ₹4,737 crore base, with 9 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Container Corporation Of India Ltd is the scale benchmark; Shadowfax Technologies Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Container Corporation Of India Ltd's growth falls below Shadowfax Technologies Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Container Corporation Of India Ltd · ₹9,086 crore | 1.3% versus #2 · Aegis Logistics Ltd | 5/8 recent comparable periods | 17/18 companies · 262 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Container Corporation Of India Ltd (CONCOR): ₹9.1K Cr
2. Aegis Logistics Ltd (AEGISLOG): ₹9.0K Cr
3. Blue Dart Express Ltd (BLUEDART): ₹6.4K Cr
4. Transport Corporation of India Ltd (TCI): ₹5.0K Cr
5. Shadowfax Technologies Ltd (SHADOWFAX): ₹4.7K Cr

### Revenue growth — fastest growers
1. Shadowfax Technologies Ltd (SHADOWFAX): 71%
2. S J Logistics (India) Ltd (SJLOGISTIC): 68%
3. Sical Logistics Ltd (SICALLOG): 51%
4. Blackbuck Ltd (BLACKBUCK): 49%
5. Aegis Logistics Ltd (AEGISLOG): 30%

### 20-quarter Revenue history
- AEGISLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2.1K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.1K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.8K Cr | Dec 2024 ₹1.7K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹2.6K Cr | Jun 2026 ₹2.4K Cr
- CONCOR: Sep 2021 ₹1.8K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹2.0K Cr | Sep 2022 ₹2.0K Cr | Dec 2022 ₹2.0K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹2.2K Cr | Mar 2024 ₹2.3K Cr | Jun 2024 ₹2.1K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.2K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.2K Cr | Sep 2025 ₹2.4K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 ₹2.2K Cr
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹536 Cr | Sep 2024 ₹536 Cr | Dec 2024 ₹701 Cr | Mar 2025 ₹712 Cr | Jun 2025 ₹824 Cr | Sep 2025 ₹982 Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.4K Cr
- BLUEDART: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.5K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 ₹1.7K Cr
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹59 Cr | Sep 2023 ₹63 Cr | Dec 2023 ₹81 Cr | Mar 2024 ₹93 Cr | Jun 2024 ₹92 Cr | Sep 2024 ₹99 Cr | Dec 2024 ₹114 Cr | Mar 2025 ₹122 Cr | Jun 2025 ₹144 Cr | Sep 2025 ₹151 Cr | Dec 2025 ₹172 Cr | Mar 2026 ₹185 Cr | Jun 2026 ₹204 Cr
- TCI: Sep 2021 ₹828 Cr | Dec 2021 ₹843 Cr | Mar 2022 ₹898 Cr | Jun 2022 ₹908 Cr | Sep 2022 ₹939 Cr | Dec 2022 ₹967 Cr | Mar 2023 ₹979 Cr | Jun 2023 ₹950 Cr | Sep 2023 ₹994 Cr | Dec 2023 ₹1.0K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 ₹1.2K Cr
- SINDHUTRAD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹308 Cr | Mar 2023 ₹381 Cr | Jun 2023 ₹427 Cr | Sep 2023 ₹397 Cr | Dec 2023 ₹416 Cr | Mar 2024 ₹446 Cr | Jun 2024 ₹554 Cr | Sep 2024 ₹370 Cr | Dec 2024 ₹511 Cr | Mar 2025 ₹297 Cr | Jun 2025 ₹165 Cr | Sep 2025 ₹124 Cr | Dec 2025 ₹119 Cr | Mar 2026 ₹115 Cr | Jun 2026 ₹129 Cr
- GATEWAY: Sep 2021 ₹341 Cr | Dec 2021 ₹356 Cr | Mar 2022 ₹344 Cr | Jun 2022 ₹347 Cr | Sep 2022 ₹362 Cr | Dec 2022 ₹341 Cr | Mar 2023 ₹377 Cr | Jun 2023 ₹370 Cr | Sep 2023 ₹399 Cr | Dec 2023 ₹393 Cr | Mar 2024 ₹375 Cr | Jun 2024 ₹353 Cr | Sep 2024 ₹390 Cr | Dec 2024 ₹403 Cr | Mar 2025 ₹535 Cr | Jun 2025 ₹550 Cr | Sep 2025 ₹567 Cr | Dec 2025 ₹560 Cr | Mar 2026 ₹534 Cr | Jun 2026 ₹549 Cr
- RIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹17 Cr | Mar 2023 ₹18 Cr | Jun 2023 ₹14 Cr | Sep 2023 ₹14 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹12 Cr | Mar 2026 ₹8 Cr | Jun 2026 ₹9 Cr
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹253 Cr | Dec 2024 — | Mar 2025 ₹249 Cr | Jun 2025 — | Sep 2025 ₹302 Cr | Dec 2025 — | Mar 2026 ₹327 Cr | Jun 2026 —
- ACLGATI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹431 Cr | Sep 2022 ₹435 Cr | Dec 2022 ₹441 Cr | Mar 2023 ₹416 Cr | Jun 2023 ₹426 Cr | Sep 2023 ₹442 Cr | Dec 2023 ₹424 Cr | Mar 2024 ₹355 Cr | Jun 2024 ₹358 Cr | Sep 2024 ₹426 Cr | Dec 2024 ₹392 Cr | Mar 2025 ₹385 Cr | Jun 2025 ₹357 Cr | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹106 Cr | Mar 2023 ₹95 Cr | Jun 2023 ₹70 Cr | Sep 2023 ₹62 Cr | Dec 2023 ₹45 Cr | Mar 2024 ₹44 Cr | Jun 2024 ₹42 Cr | Sep 2024 ₹49 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹81 Cr | Jun 2025 ₹98 Cr | Sep 2025 ₹90 Cr | Dec 2025 ₹93 Cr | Mar 2026 ₹105 Cr | Jun 2026 ₹133 Cr
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹402 Cr | Sep 2023 ₹426 Cr | Dec 2023 ₹457 Cr | Mar 2024 ₹402 Cr | Jun 2024 ₹423 Cr | Sep 2024 ₹431 Cr | Dec 2024 ₹443 Cr | Mar 2025 ₹429 Cr | Jun 2025 ₹416 Cr | Sep 2025 ₹440 Cr | Dec 2025 ₹478 Cr | Mar 2026 ₹496 Cr | Jun 2026 ₹465 Cr
- RITCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹195 Cr | Mar 2023 ₹197 Cr | Jun 2023 ₹208 Cr | Sep 2023 ₹235 Cr | Dec 2023 ₹239 Cr | Mar 2024 ₹252 Cr | Jun 2024 ₹252 Cr | Sep 2024 ₹279 Cr | Dec 2024 ₹313 Cr | Mar 2025 ₹345 Cr | Jun 2025 ₹354 Cr | Sep 2025 ₹360 Cr | Dec 2025 ₹393 Cr | Mar 2026 ₹392 Cr | Jun 2026 ₹365 Cr
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹435 Cr | Mar 2023 ₹635 Cr | Jun 2023 ₹668 Cr | Sep 2023 ₹720 Cr | Dec 2023 ₹619 Cr | Mar 2024 ₹653 Cr | Jun 2024 ₹465 Cr | Sep 2024 ₹481 Cr | Dec 2024 ₹532 Cr | Mar 2025 ₹788 Cr | Jun 2025 ₹550 Cr | Sep 2025 ₹538 Cr | Dec 2025 ₹822 Cr | Mar 2026 ₹898 Cr | Jun 2026 ₹664 Cr
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹36 Cr | Mar 2023 ₹29 Cr | Jun 2023 ₹26 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹26 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹20 Cr | Dec 2025 ₹21 Cr | Mar 2026 ₹22 Cr | Jun 2026 ₹22 Cr
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹175 Cr | Mar 2023 ₹184 Cr | Jun 2023 ₹181 Cr | Sep 2023 ₹185 Cr | Dec 2023 ₹185 Cr | Mar 2024 ₹182 Cr | Jun 2024 ₹190 Cr | Sep 2024 ₹195 Cr | Dec 2024 ₹187 Cr | Mar 2025 ₹186 Cr | Jun 2025 ₹187 Cr | Sep 2025 ₹207 Cr | Dec 2025 ₹218 Cr | Mar 2026 ₹208 Cr | Jun 2026 ₹214 Cr
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹103 Cr | Dec 2023 ₹79 Cr | Mar 2024 ₹168 Cr | Jun 2024 ₹101 Cr | Sep 2024 ₹225 Cr | Dec 2024 ₹136 Cr | Mar 2025 ₹278 Cr | Jun 2025 ₹126 Cr | Sep 2025 ₹283 Cr | Dec 2025 — | Mar 2026 ₹371 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- AEGISLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -10% | Mar 2024 -15% | Jun 2024 -24% | Sep 2024 42% | Dec 2024 -8.9% | Mar 2025 -7.2% | Jun 2025 7.4% | Sep 2025 31% | Dec 2025 1.1% | Mar 2026 52% | Jun 2026 37%
- CONCOR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 9.6% | Sep 2022 8.1% | Dec 2022 3.4% | Mar 2023 5.1% | Jun 2023 -3.6% | Sep 2023 11% | Dec 2023 10% | Mar 2024 6.5% | Jun 2024 9.4% | Sep 2024 4.2% | Dec 2024 -0.1% | Mar 2025 -1.6% | Jun 2025 2.4% | Sep 2025 2.9% | Dec 2025 4.5% | Mar 2026 -1.1% | Jun 2026 0.3%
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 54% | Sep 2025 83% | Dec 2025 65% | Mar 2026 74% | Jun 2026 65%
- BLUEDART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 49% | Sep 2022 18% | Dec 2022 6.5% | Mar 2023 4.2% | Jun 2023 -4.3% | Sep 2023 -0.1% | Dec 2023 3.4% | Mar 2024 8.7% | Jun 2024 8.5% | Sep 2024 9.4% | Dec 2024 9.3% | Mar 2025 7.1% | Jun 2025 7.4% | Sep 2025 7.0% | Dec 2025 6.9% | Mar 2026 8.2% | Jun 2026 15%
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 56% | Sep 2024 57% | Dec 2024 41% | Mar 2025 31% | Jun 2025 57% | Sep 2025 53% | Dec 2025 51% | Mar 2026 52% | Jun 2026 42%
- TCI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 30% | Sep 2022 13% | Dec 2022 15% | Mar 2023 9.0% | Jun 2023 4.6% | Sep 2023 5.9% | Dec 2023 3.6% | Mar 2024 10% | Jun 2024 10% | Sep 2024 13% | Dec 2024 14% | Mar 2025 9.3% | Jun 2025 9.0% | Sep 2025 7.5% | Dec 2025 8.9% | Mar 2026 12% | Jun 2026 9.6%
- SINDHUTRAD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 35% | Mar 2024 17% | Jun 2024 30% | Sep 2024 -6.8% | Dec 2024 23% | Mar 2025 -33% | Jun 2025 -70% | Sep 2025 -66% | Dec 2025 -77% | Mar 2026 -61% | Jun 2026 -22%
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 4.5% | Sep 2022 6.2% | Dec 2022 -4.2% | Mar 2023 9.6% | Jun 2023 6.6% | Sep 2023 10% | Dec 2023 15% | Mar 2024 -0.5% | Jun 2024 -4.6% | Sep 2024 -2.3% | Dec 2024 2.5% | Mar 2025 43% | Jun 2025 56% | Sep 2025 45% | Dec 2025 39% | Mar 2026 -0.2% | Jun 2026 -0.2%
- RIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -14% | Mar 2024 -18% | Jun 2024 -13% | Sep 2024 -15% | Dec 2024 -17% | Mar 2025 -14% | Jun 2025 0.4% | Sep 2025 -0.6% | Dec 2025 0.0% | Mar 2026 -33% | Jun 2026 -31%
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 19% | Dec 2025 — | Mar 2026 31% | Jun 2026 —
- ACLGATI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -1.1% | Sep 2023 1.5% | Dec 2023 -3.8% | Mar 2024 -15% | Jun 2024 -16% | Sep 2024 -3.4% | Dec 2024 -7.6% | Mar 2025 8.5% | Jun 2025 -0.3% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -58% | Mar 2024 -54% | Jun 2024 -40% | Sep 2024 -21% | Dec 2024 11% | Mar 2025 84% | Jun 2025 133% | Sep 2025 84% | Dec 2025 86% | Mar 2026 30% | Jun 2026 36%
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 5.3% | Sep 2024 1.3% | Dec 2024 -3.0% | Mar 2025 6.7% | Jun 2025 -1.6% | Sep 2025 1.9% | Dec 2025 7.9% | Mar 2026 16% | Jun 2026 12%
- RITCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 23% | Mar 2024 28% | Jun 2024 21% | Sep 2024 19% | Dec 2024 31% | Mar 2025 37% | Jun 2025 40% | Sep 2025 29% | Dec 2025 25% | Mar 2026 13% | Jun 2026 3.1%
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 42% | Mar 2024 2.9% | Jun 2024 -30% | Sep 2024 -33% | Dec 2024 -14% | Mar 2025 21% | Jun 2025 18% | Sep 2025 12% | Dec 2025 55% | Mar 2026 14% | Jun 2026 21%
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -28% | Mar 2024 -32% | Jun 2024 -27% | Sep 2024 -20% | Dec 2024 -12% | Mar 2025 0.0% | Jun 2025 11% | Sep 2025 0.0% | Dec 2025 -8.7% | Mar 2026 10% | Jun 2026 4.8%
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 5.8% | Mar 2024 -1.1% | Jun 2024 5.0% | Sep 2024 5.1% | Dec 2024 1.2% | Mar 2025 2.3% | Jun 2025 -1.3% | Sep 2025 6.3% | Dec 2025 17% | Mar 2026 12% | Jun 2026 15%
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 118% | Dec 2024 72% | Mar 2025 65% | Jun 2025 25% | Sep 2025 26% | Dec 2025 — | Mar 2026 33% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: TransIndia Real Estate Ltd leads opm at 55%; Aegis Logistics Ltd leads margin change at +16 percentage points.

Investor read: TransIndia Real Estate Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: TransIndia Real Estate Ltd · 55% | 83.3% versus #2 · Aegis Logistics Ltd | 3/8 recent comparable periods | 18/18 companies · 301 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. TransIndia Real Estate Ltd (TREL): 55%
2. Aegis Logistics Ltd (AEGISLOG): 30%
3. Blackbuck Ltd (BLACKBUCK): 24%
4. Allcargo Terminals Ltd (ATL): 22%
5. JITF Infra Logistics Ltd (JITFINFRA): 21%

### Margin change — fastest expanders
1. Aegis Logistics Ltd (AEGISLOG): +16.0 pp
2. Sindhu Trade Links Ltd (SINDHUTRAD): +8.0 pp
3. Shadowfax Technologies Ltd (SHADOWFAX): +3.9 pp
4. Allcargo Terminals Ltd (ATL): +3.7 pp
5. S J Logistics (India) Ltd (SJLOGISTIC): +3.0 pp

### 20-quarter OPM history
- AEGISLOG: Sep 2021 22% | Dec 2021 12% | Mar 2022 6.8% | Jun 2022 3.8% | Sep 2022 7.8% | Dec 2022 10% | Mar 2023 9.0% | Jun 2023 9.0% | Sep 2023 17% | Dec 2023 11% | Mar 2024 17% | Jun 2024 15% | Sep 2024 13% | Dec 2024 14% | Mar 2025 24% | Jun 2025 14% | Sep 2025 13% | Dec 2025 17% | Mar 2026 24% | Jun 2026 30%
- CONCOR: Sep 2021 24% | Dec 2021 24% | Mar 2022 20% | Jun 2022 24% | Sep 2022 25% | Dec 2022 22% | Mar 2023 21% | Jun 2023 21% | Sep 2023 25% | Dec 2023 23% | Mar 2024 21% | Jun 2024 21% | Sep 2024 25% | Dec 2024 21% | Mar 2025 19% | Jun 2025 20% | Sep 2025 24% | Dec 2025 22% | Mar 2026 19% | Jun 2026 21%
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -0.1% | Sep 2024 2.2% | Dec 2024 3.0% | Mar 2025 1.7% | Jun 2025 3.1% | Sep 2025 4.0% | Dec 2025 6.0% | Mar 2026 7.0% | Jun 2026 7.0%
- BLUEDART: Sep 2021 25% | Dec 2021 22% | Mar 2022 25% | Jun 2022 21% | Sep 2022 18% | Dec 2022 17% | Mar 2023 16% | Jun 2023 15% | Sep 2023 17% | Dec 2023 15% | Mar 2024 17% | Jun 2024 15% | Sep 2024 15% | Dec 2024 16% | Mar 2025 15% | Jun 2025 14% | Sep 2025 16% | Dec 2025 17% | Mar 2026 14% | Jun 2026 16%
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -52% | Sep 2023 -59% | Dec 2023 -13% | Mar 2024 -93% | Jun 2024 9.0% | Sep 2024 15% | Dec 2024 26% | Mar 2025 33% | Jun 2025 28% | Sep 2025 24% | Dec 2025 26% | Mar 2026 24% | Jun 2026 24%
- TCI: Sep 2021 13% | Dec 2021 13% | Mar 2022 13% | Jun 2022 12% | Sep 2022 10% | Dec 2022 12% | Mar 2023 11% | Jun 2023 11% | Sep 2023 10% | Dec 2023 10% | Mar 2024 10% | Jun 2024 10% | Sep 2024 10% | Dec 2024 10% | Mar 2025 10% | Jun 2025 11% | Sep 2025 11% | Dec 2025 10% | Mar 2026 11% | Jun 2026 11%
- SINDHUTRAD: Sep 2021 9.6% | Dec 2021 27% | Mar 2022 -1.0% | Jun 2022 11% | Sep 2022 2.1% | Dec 2022 -4.0% | Mar 2023 8.0% | Jun 2023 18% | Sep 2023 4.9% | Dec 2023 16% | Mar 2024 -6.0% | Jun 2024 25% | Sep 2024 -25% | Dec 2024 11% | Mar 2025 -111% | Jun 2025 8.0% | Sep 2025 -1.6% | Dec 2025 2.5% | Mar 2026 4.5% | Jun 2026 16%
- GATEWAY: Sep 2021 27% | Dec 2021 27% | Mar 2022 26% | Jun 2022 25% | Sep 2022 27% | Dec 2022 27% | Mar 2023 25% | Jun 2023 26% | Sep 2023 26% | Dec 2023 25% | Mar 2024 22% | Jun 2024 24% | Sep 2024 25% | Dec 2024 24% | Mar 2025 20% | Jun 2025 22% | Sep 2025 21% | Dec 2025 22% | Mar 2026 22% | Jun 2026 21%
- RIIL: Sep 2021 4.4% | Dec 2021 8.0% | Mar 2022 3.6% | Jun 2022 9.4% | Sep 2022 -1.8% | Dec 2022 4.7% | Mar 2023 4.4% | Jun 2023 -16% | Sep 2023 -9.2% | Dec 2023 -5.7% | Mar 2024 -12% | Jun 2024 -21% | Sep 2024 -23% | Dec 2024 -24% | Mar 2025 -28% | Jun 2025 -16% | Sep 2025 -17% | Dec 2025 -19% | Mar 2026 -15% | Jun 2026 -37%
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 17% | Jun 2024 17% | Sep 2024 17% | Dec 2024 — | Mar 2025 22% | Jun 2025 — | Sep 2025 14% | Dec 2025 — | Mar 2026 20% | Jun 2026 —
- ACLGATI: Sep 2021 4.0% | Dec 2021 3.4% | Mar 2022 0.9% | Jun 2022 4.4% | Sep 2022 4.6% | Dec 2022 4.4% | Mar 2023 2.8% | Jun 2023 3.9% | Sep 2023 3.4% | Dec 2023 1.6% | Mar 2024 3.8% | Jun 2024 5.2% | Sep 2024 4.2% | Dec 2024 5.3% | Mar 2025 2.5% | Jun 2025 3.7% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 5.4% | Dec 2021 12% | Mar 2022 -40% | Jun 2022 6.1% | Sep 2022 13% | Dec 2022 4.0% | Mar 2023 5.1% | Jun 2023 9.0% | Sep 2023 6.0% | Dec 2023 9.0% | Mar 2024 -1.9% | Jun 2024 3.6% | Sep 2024 9.0% | Dec 2024 15% | Mar 2025 11% | Jun 2025 24% | Sep 2025 20% | Dec 2025 19% | Mar 2026 18% | Jun 2026 19%
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 7.8% | Sep 2023 7.9% | Dec 2023 8.2% | Mar 2024 11% | Jun 2024 8.4% | Sep 2024 8.4% | Dec 2024 5.3% | Mar 2025 5.8% | Jun 2025 5.0% | Sep 2025 4.3% | Dec 2025 5.0% | Mar 2026 4.3% | Jun 2026 4.0%
- RITCO: Sep 2021 7.6% | Dec 2021 6.6% | Mar 2022 6.2% | Jun 2022 6.2% | Sep 2022 7.0% | Dec 2022 7.0% | Mar 2023 7.3% | Jun 2023 8.1% | Sep 2023 8.0% | Dec 2023 8.2% | Mar 2024 7.9% | Jun 2024 7.9% | Sep 2024 7.7% | Dec 2024 7.3% | Mar 2025 7.4% | Jun 2025 7.1% | Sep 2025 7.2% | Dec 2025 7.0% | Mar 2026 5.1% | Jun 2026 6.0%
- JITFINFRA: Sep 2021 10% | Dec 2021 12% | Mar 2022 12% | Jun 2022 19% | Sep 2022 20% | Dec 2022 15% | Mar 2023 15% | Jun 2023 15% | Sep 2023 16% | Dec 2023 18% | Mar 2024 12% | Jun 2024 22% | Sep 2024 15% | Dec 2024 19% | Mar 2025 16% | Jun 2025 24% | Sep 2025 22% | Dec 2025 19% | Mar 2026 18% | Jun 2026 21%
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 67% | Sep 2022 54% | Dec 2022 49% | Mar 2023 43% | Jun 2023 51% | Sep 2023 63% | Dec 2023 60% | Mar 2024 48% | Jun 2024 27% | Sep 2024 61% | Dec 2024 64% | Mar 2025 17% | Jun 2025 66% | Sep 2025 44% | Dec 2025 49% | Mar 2026 58% | Jun 2026 55%
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 25% | Sep 2022 22% | Dec 2022 20% | Mar 2023 14% | Jun 2023 16% | Sep 2023 17% | Dec 2023 16% | Mar 2024 15% | Jun 2024 16% | Sep 2024 17% | Dec 2024 17% | Mar 2025 18% | Jun 2025 18% | Sep 2025 19% | Dec 2025 20% | Mar 2026 21% | Jun 2026 22%
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 13% | Dec 2023 11% | Mar 2024 10% | Jun 2024 14% | Sep 2024 14% | Dec 2024 15% | Mar 2025 16% | Jun 2025 18% | Sep 2025 18% | Dec 2025 — | Mar 2026 19% | Jun 2026 —

### 20-quarter Margin change history
- AEGISLOG: Sep 2021 +5.9 pp | Dec 2021 +4.6 pp | Mar 2022 −3.1 pp | Jun 2022 −11.7 pp | Sep 2022 −13.8 pp | Dec 2022 −2.3 pp | Mar 2023 +2.2 pp | Jun 2023 +5.2 pp | Sep 2023 +9.2 pp | Dec 2023 +1.0 pp | Mar 2024 +8.0 pp | Jun 2024 +6.0 pp | Sep 2024 −4.0 pp | Dec 2024 +3.0 pp | Mar 2025 +7.0 pp | Jun 2025 −1.0 pp | Sep 2025 0.0 pp | Dec 2025 +3.0 pp | Mar 2026 0.0 pp | Jun 2026 +16.0 pp
- CONCOR: Sep 2021 +2.6 pp | Dec 2021 +2.5 pp | Mar 2022 +10.3 pp | Jun 2022 −0.1 pp | Sep 2022 +1.9 pp | Dec 2022 −1.8 pp | Mar 2023 +0.7 pp | Jun 2023 −3.0 pp | Sep 2023 −0.5 pp | Dec 2023 +1.0 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 0.0 pp | Dec 2024 −2.0 pp | Mar 2025 −2.0 pp | Jun 2025 −1.0 pp | Sep 2025 −1.0 pp | Dec 2025 +1.0 pp | Mar 2026 0.0 pp | Jun 2026 +1.0 pp
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 +3.2 pp | Sep 2025 +1.8 pp | Dec 2025 +3.0 pp | Mar 2026 +5.3 pp | Jun 2026 +3.9 pp
- BLUEDART: Sep 2021 −1.9 pp | Dec 2021 −2.5 pp | Mar 2022 −0.6 pp | Jun 2022 +2.3 pp | Sep 2022 −6.2 pp | Dec 2022 −4.8 pp | Mar 2023 −9.0 pp | Jun 2023 −5.7 pp | Sep 2023 −1.3 pp | Dec 2023 −2.0 pp | Mar 2024 +1.0 pp | Jun 2024 0.0 pp | Sep 2024 −2.0 pp | Dec 2024 +1.0 pp | Mar 2025 −2.0 pp | Jun 2025 −1.0 pp | Sep 2025 +1.0 pp | Dec 2025 +1.0 pp | Mar 2026 −1.0 pp | Jun 2026 +2.0 pp
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +61.0 pp | Sep 2024 +74.0 pp | Dec 2024 +39.0 pp | Mar 2025 +126.0 pp | Jun 2025 +19.0 pp | Sep 2025 +9.0 pp | Dec 2025 0.0 pp | Mar 2026 −9.0 pp | Jun 2026 −4.0 pp
- TCI: Sep 2021 +3.7 pp | Dec 2021 +3.2 pp | Mar 2022 +3.4 pp | Jun 2022 +0.7 pp | Sep 2022 −2.3 pp | Dec 2022 −1.0 pp | Mar 2023 −2.4 pp | Jun 2023 −0.6 pp | Sep 2023 −0.4 pp | Dec 2023 −2.0 pp | Mar 2024 −1.0 pp | Jun 2024 −1.0 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Mar 2025 0.0 pp | Jun 2025 +1.0 pp | Sep 2025 +1.0 pp | Dec 2025 0.0 pp | Mar 2026 +1.0 pp | Jun 2026 0.0 pp
- SINDHUTRAD: Sep 2021 +7.6 pp | Dec 2021 +12.9 pp | Mar 2022 +5.5 pp | Jun 2022 +1.3 pp | Sep 2022 −7.6 pp | Dec 2022 −31.2 pp | Mar 2023 +9.0 pp | Jun 2023 +7.4 pp | Sep 2023 +2.9 pp | Dec 2023 +20.0 pp | Mar 2024 −14.0 pp | Jun 2024 +7.0 pp | Sep 2024 −29.9 pp | Dec 2024 −5.0 pp | Mar 2025 −105.0 pp | Jun 2025 −17.0 pp | Sep 2025 +23.4 pp | Dec 2025 −8.5 pp | Mar 2026 +115.5 pp | Jun 2026 +8.0 pp
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 −0.7 pp | Jun 2022 −1.6 pp | Sep 2022 −0.4 pp | Dec 2022 +0.2 pp | Mar 2023 −1.4 pp | Jun 2023 +0.6 pp | Sep 2023 −0.7 pp | Dec 2023 −2.0 pp | Mar 2024 −3.0 pp | Jun 2024 −2.0 pp | Sep 2024 −1.0 pp | Dec 2024 −1.0 pp | Mar 2025 −2.0 pp | Jun 2025 −2.0 pp | Sep 2025 −4.0 pp | Dec 2025 −2.0 pp | Mar 2026 +2.0 pp | Jun 2026 −1.0 pp
- RIIL: Sep 2021 −4.4 pp | Dec 2021 −3.7 pp | Mar 2022 −5.4 pp | Jun 2022 +4.0 pp | Sep 2022 −6.2 pp | Dec 2022 −3.3 pp | Mar 2023 +0.8 pp | Jun 2023 −25.4 pp | Sep 2023 −7.4 pp | Dec 2023 −10.4 pp | Mar 2024 −16.2 pp | Jun 2024 −5.0 pp | Sep 2024 −14.0 pp | Dec 2024 −17.9 pp | Mar 2025 −16.6 pp | Jun 2025 +5.1 pp | Sep 2025 +5.9 pp | Dec 2025 +4.4 pp | Mar 2026 +13.5 pp | Jun 2026 −21.3 pp
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 +4.7 pp | Jun 2025 — | Sep 2025 −3.0 pp | Dec 2025 — | Mar 2026 −2.0 pp | Jun 2026 —
- ACLGATI: Sep 2021 −0.8 pp | Dec 2021 −1.6 pp | Mar 2022 −1.1 pp | Jun 2022 +5.7 pp | Sep 2022 +0.6 pp | Dec 2022 +1.0 pp | Mar 2023 +1.8 pp | Jun 2023 −0.5 pp | Sep 2023 −1.3 pp | Dec 2023 −2.8 pp | Mar 2024 +1.0 pp | Jun 2024 +1.3 pp | Sep 2024 +0.8 pp | Dec 2024 +3.7 pp | Mar 2025 −1.3 pp | Jun 2025 −1.5 pp | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 +1.2 pp | Dec 2021 +10.1 pp | Mar 2022 −14.0 pp | Jun 2022 +16.3 pp | Sep 2022 +7.2 pp | Dec 2022 −7.8 pp | Mar 2023 +45.1 pp | Jun 2023 +2.9 pp | Sep 2023 −6.6 pp | Dec 2023 +5.0 pp | Mar 2024 −7.0 pp | Jun 2024 −5.4 pp | Sep 2024 +3.0 pp | Dec 2024 +6.0 pp | Mar 2025 +12.9 pp | Jun 2025 +20.4 pp | Sep 2025 +11.0 pp | Dec 2025 +4.0 pp | Mar 2026 +7.0 pp | Jun 2026 −5.0 pp
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +0.6 pp | Sep 2024 +0.5 pp | Dec 2024 −2.9 pp | Mar 2025 −5.1 pp | Jun 2025 −3.4 pp | Sep 2025 −4.1 pp | Dec 2025 −0.3 pp | Mar 2026 −1.5 pp | Jun 2026 −1.0 pp
- RITCO: Sep 2021 +4.2 pp | Dec 2021 — | Mar 2022 +0.6 pp | Jun 2022 −0.9 pp | Sep 2022 −0.6 pp | Dec 2022 +0.4 pp | Mar 2023 +1.0 pp | Jun 2023 +2.0 pp | Sep 2023 +1.0 pp | Dec 2023 +1.2 pp | Mar 2024 +0.6 pp | Jun 2024 −0.2 pp | Sep 2024 −0.3 pp | Dec 2024 −0.9 pp | Mar 2025 −0.4 pp | Jun 2025 −0.8 pp | Sep 2025 −0.5 pp | Dec 2025 −0.3 pp | Mar 2026 −2.4 pp | Jun 2026 −1.1 pp
- JITFINFRA: Sep 2021 −1.6 pp | Dec 2021 −8.5 pp | Mar 2022 +8.7 pp | Jun 2022 +5.0 pp | Sep 2022 +10.1 pp | Dec 2022 +3.5 pp | Mar 2023 +2.1 pp | Jun 2023 −4.5 pp | Sep 2023 −4.5 pp | Dec 2023 +3.5 pp | Mar 2024 −3.0 pp | Jun 2024 +7.0 pp | Sep 2024 −0.8 pp | Dec 2024 +0.4 pp | Mar 2025 +4.8 pp | Jun 2025 +1.7 pp | Sep 2025 +6.4 pp | Dec 2025 −0.3 pp | Mar 2026 +1.4 pp | Jun 2026 −2.3 pp
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −16.3 pp | Sep 2023 +8.6 pp | Dec 2023 +11.0 pp | Mar 2024 +4.8 pp | Jun 2024 −24.0 pp | Sep 2024 −2.0 pp | Dec 2024 +4.0 pp | Mar 2025 −31.0 pp | Jun 2025 +39.0 pp | Sep 2025 −17.0 pp | Dec 2025 −15.0 pp | Mar 2026 +41.0 pp | Jun 2026 −11.0 pp
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −8.6 pp | Sep 2023 −4.8 pp | Dec 2023 −4.2 pp | Mar 2024 +0.3 pp | Jun 2024 −0.2 pp | Sep 2024 −0.8 pp | Dec 2024 +1.5 pp | Mar 2025 +3.4 pp | Jun 2025 +2.7 pp | Sep 2025 +2.8 pp | Dec 2025 +2.2 pp | Mar 2026 +3.1 pp | Jun 2026 +3.7 pp
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 +1.0 pp | Dec 2024 +4.0 pp | Mar 2025 +6.0 pp | Jun 2025 +4.0 pp | Sep 2025 +4.0 pp | Dec 2025 — | Mar 2026 +3.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Aegis Logistics Ltd leads with ₹1,477 crore of TTM profit, 18.3% above Container Corporation Of India Ltd. Shadowfax Technologies Ltd shows ≥100% on the scoring scale (1777.8% uncapped) growth from a ₹169 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Aegis Logistics Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Aegis Logistics Ltd · ₹1,477 crore | 18.3% versus #2 · Container Corporation Of India Ltd | 8/8 recent comparable periods | 17/18 companies · 262 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Aegis Logistics Ltd (AEGISLOG): ₹1.5K Cr
2. Container Corporation Of India Ltd (CONCOR): ₹1.2K Cr
3. Transport Corporation of India Ltd (TCI): ₹461 Cr
4. Blue Dart Express Ltd (BLUEDART): ₹286 Cr
5. Gateway Distriparks Ltd (GATEWAY): ₹248 Cr

### Profit growth — fastest growers
1. Shadowfax Technologies Ltd (SHADOWFAX): 1,778%
2. Blackbuck Ltd (BLACKBUCK): 100%
3. S J Logistics (India) Ltd (SJLOGISTIC): 93%
4. Aegis Logistics Ltd (AEGISLOG): 84%
5. Allcargo Terminals Ltd (ATL): 39%

### 20-quarter Net profit history
- AEGISLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹143 Cr | Mar 2023 ₹159 Cr | Jun 2023 ₹133 Cr | Sep 2023 ₹150 Cr | Dec 2023 ₹152 Cr | Mar 2024 ₹237 Cr | Jun 2024 ₹158 Cr | Sep 2024 ₹152 Cr | Dec 2024 ₹160 Cr | Mar 2025 ₹318 Cr | Jun 2025 ₹175 Cr | Sep 2025 ₹244 Cr | Dec 2025 ₹233 Cr | Mar 2026 ₹455 Cr | Jun 2026 ₹545 Cr
- CONCOR: Sep 2021 ₹254 Cr | Dec 2021 ₹285 Cr | Mar 2022 ₹259 Cr | Jun 2022 ₹297 Cr | Sep 2022 ₹303 Cr | Dec 2022 ₹293 Cr | Mar 2023 ₹279 Cr | Jun 2023 ₹245 Cr | Sep 2023 ₹368 Cr | Dec 2023 ₹331 Cr | Mar 2024 ₹318 Cr | Jun 2024 ₹259 Cr | Sep 2024 ₹366 Cr | Dec 2024 ₹367 Cr | Mar 2025 ₹300 Cr | Jun 2025 ₹267 Cr | Sep 2025 ₹380 Cr | Dec 2025 ₹335 Cr | Mar 2026 ₹264 Cr | Jun 2026 ₹269 Cr
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹5 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹-10 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹35 Cr | Mar 2026 ₹56 Cr | Jun 2026 ₹65 Cr
- BLUEDART: Sep 2021 ₹91 Cr | Dec 2021 ₹123 Cr | Mar 2022 ₹137 Cr | Jun 2022 ₹119 Cr | Sep 2022 ₹94 Cr | Dec 2022 ₹89 Cr | Mar 2023 ₹69 Cr | Jun 2023 ₹61 Cr | Sep 2023 ₹73 Cr | Dec 2023 ₹89 Cr | Mar 2024 ₹78 Cr | Jun 2024 ₹53 Cr | Sep 2024 ₹63 Cr | Dec 2024 ₹81 Cr | Mar 2025 ₹55 Cr | Jun 2025 ₹49 Cr | Sep 2025 ₹81 Cr | Dec 2025 ₹68 Cr | Mar 2026 ₹49 Cr | Jun 2026 ₹88 Cr
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹-36 Cr | Sep 2023 ₹-48 Cr | Dec 2023 ₹-20 Cr | Mar 2024 ₹-91 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹-269 Cr | Dec 2024 ₹-48 Cr | Mar 2025 ₹280 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹29 Cr | Dec 2025 ₹32 Cr | Mar 2026 ₹66 Cr | Jun 2026 ₹42 Cr
- TCI: Sep 2021 ₹75 Cr | Dec 2021 ₹82 Cr | Mar 2022 ₹85 Cr | Jun 2022 ₹78 Cr | Sep 2022 ₹72 Cr | Dec 2022 ₹86 Cr | Mar 2023 ₹82 Cr | Jun 2023 ₹83 Cr | Sep 2023 ₹88 Cr | Dec 2023 ₹80 Cr | Mar 2024 ₹103 Cr | Jun 2024 ₹92 Cr | Sep 2024 ₹107 Cr | Dec 2024 ₹102 Cr | Mar 2025 ₹115 Cr | Jun 2025 ₹107 Cr | Sep 2025 ₹114 Cr | Dec 2025 ₹116 Cr | Mar 2026 ₹124 Cr | Jun 2026 ₹107 Cr
- SINDHUTRAD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-9 Cr | Mar 2023 ₹31 Cr | Jun 2023 ₹29 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹93 Cr | Mar 2024 ₹-102 Cr | Jun 2024 ₹72 Cr | Sep 2024 ₹117 Cr | Dec 2024 ₹-7 Cr | Mar 2025 ₹-59 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹14 Cr | Jun 2026 ₹39 Cr
- GATEWAY: Sep 2021 ₹47 Cr | Dec 2021 ₹48 Cr | Mar 2022 ₹85 Cr | Jun 2022 ₹58 Cr | Sep 2022 ₹60 Cr | Dec 2022 ₹55 Cr | Mar 2023 ₹69 Cr | Jun 2023 ₹64 Cr | Sep 2023 ₹74 Cr | Dec 2023 ₹65 Cr | Mar 2024 ₹56 Cr | Jun 2024 ₹49 Cr | Sep 2024 ₹60 Cr | Dec 2024 ₹456 Cr | Mar 2025 ₹-191 Cr | Jun 2025 ₹62 Cr | Sep 2025 ₹66 Cr | Dec 2025 ₹67 Cr | Mar 2026 ₹64 Cr | Jun 2026 ₹51 Cr
- RIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹3 Cr | Jun 2026 ₹3 Cr
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹9 Cr | Dec 2024 — | Mar 2025 ₹10 Cr | Jun 2025 — | Sep 2025 ₹13 Cr | Dec 2025 — | Mar 2026 ₹8 Cr | Jun 2026 —
- ACLGATI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹7 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹-5 Cr | Mar 2023 ₹-20 Cr | Jun 2023 ₹-3 Cr | Sep 2023 ₹-4 Cr | Dec 2023 ₹19 Cr | Mar 2024 ₹-6 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹1 Cr | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-14 Cr | Mar 2023 ₹-818 Cr | Jun 2023 ₹-14 Cr | Sep 2023 ₹-10 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹-15 Cr | Jun 2024 ₹-18 Cr | Sep 2024 ₹-6 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹-3 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹48 Cr | Mar 2026 ₹-9 Cr | Jun 2026 ₹21 Cr
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹17 Cr | Sep 2023 ₹18 Cr | Dec 2023 ₹20 Cr | Mar 2024 ₹24 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹19 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹8 Cr | Jun 2026 ₹9 Cr
- RITCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹6 Cr | Mar 2023 ₹6 Cr | Jun 2023 ₹7 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹9 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹9 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹4 Cr | Jun 2026 ₹3 Cr
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-29 Cr | Mar 2023 ₹-9 Cr | Jun 2023 ₹-6 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹41 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹113 Cr | Dec 2024 ₹4 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹-5 Cr | Sep 2025 ₹-16 Cr | Dec 2025 ₹19 Cr | Mar 2026 ₹-8 Cr | Jun 2026 ₹-2 Cr
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹8 Cr | Mar 2023 ₹-13 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹79 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹159 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹7 Cr | Dec 2024 ₹9 Cr | Mar 2025 ₹33 Cr | Jun 2025 ₹7 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹10 Cr | Jun 2026 ₹11 Cr
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹13 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹12 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹9 Cr | Jun 2026 ₹6 Cr
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹9 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹23 Cr | Dec 2024 ₹14 Cr | Mar 2025 ₹29 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹32 Cr | Dec 2025 — | Mar 2026 ₹43 Cr | Jun 2026 —

### 20-quarter Profit growth history
- AEGISLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 6.3% | Mar 2024 49% | Jun 2024 19% | Sep 2024 1.3% | Dec 2024 5.3% | Mar 2025 34% | Jun 2025 11% | Sep 2025 61% | Dec 2025 46% | Mar 2026 43% | Jun 2026 211%
- CONCOR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 15% | Sep 2022 19% | Dec 2022 2.8% | Mar 2023 7.7% | Jun 2023 -18% | Sep 2023 21% | Dec 2023 13% | Mar 2024 14% | Jun 2024 5.7% | Sep 2024 -0.5% | Dec 2024 11% | Mar 2025 -5.7% | Jun 2025 3.1% | Sep 2025 3.8% | Dec 2025 -8.7% | Mar 2026 -12% | Jun 2026 0.8%
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 60% | Sep 2025 160% | Dec 2025 483% | Mar 2026 — | Jun 2026 713%
- BLUEDART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 284% | Sep 2022 3.3% | Dec 2022 -28% | Mar 2023 -50% | Jun 2023 -49% | Sep 2023 -22% | Dec 2023 0.0% | Mar 2024 13% | Jun 2024 -13% | Sep 2024 -14% | Dec 2024 -9.0% | Mar 2025 -29% | Jun 2025 -7.6% | Sep 2025 29% | Dec 2025 -16% | Mar 2026 -11% | Jun 2026 80%
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 17% | Sep 2025 — | Dec 2025 — | Mar 2026 -76% | Jun 2026 24%
- TCI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 66% | Sep 2022 -4.0% | Dec 2022 4.9% | Mar 2023 -3.5% | Jun 2023 6.4% | Sep 2023 22% | Dec 2023 -7.0% | Mar 2024 26% | Jun 2024 11% | Sep 2024 22% | Dec 2024 28% | Mar 2025 12% | Jun 2025 16% | Sep 2025 6.5% | Dec 2025 14% | Mar 2026 7.8% | Jun 2026 0.0%
- SINDHUTRAD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -429% | Jun 2024 148% | Sep 2024 134% | Dec 2024 -108% | Mar 2025 — | Jun 2025 -74% | Sep 2025 -91% | Dec 2025 — | Mar 2026 — | Jun 2026 105%
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 32% | Sep 2022 28% | Dec 2022 15% | Mar 2023 -19% | Jun 2023 10% | Sep 2023 23% | Dec 2023 18% | Mar 2024 -19% | Jun 2024 -23% | Sep 2024 -19% | Dec 2024 602% | Mar 2025 -441% | Jun 2025 27% | Sep 2025 10% | Dec 2025 -85% | Mar 2026 — | Jun 2026 -18%
- RIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 53% | Mar 2024 -68% | Jun 2024 2.8% | Sep 2024 -1.9% | Dec 2024 -24% | Mar 2025 -13% | Jun 2025 6.9% | Sep 2025 -1.9% | Dec 2025 9.9% | Mar 2026 0.6% | Jun 2026 -8.4%
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 44% | Dec 2025 — | Mar 2026 -20% | Jun 2026 —
- ACLGATI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -142% | Sep 2023 -150% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -97% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -145% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -550% | Jun 2026 —
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 8.3% | Sep 2024 3.6% | Dec 2024 -35% | Mar 2025 -42% | Jun 2025 -43% | Sep 2025 -53% | Dec 2025 -18% | Mar 2026 -41% | Jun 2026 -19%
- RITCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 34% | Mar 2024 47% | Jun 2024 21% | Sep 2024 26% | Dec 2024 18% | Mar 2025 33% | Jun 2025 3.6% | Sep 2025 -9.7% | Dec 2025 -5.2% | Mar 2026 -65% | Jun 2026 -61%
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 353% | Dec 2024 -86% | Mar 2025 -90% | Jun 2025 -120% | Sep 2025 -114% | Dec 2025 326% | Mar 2026 -296% | Jun 2026 —
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -13% | Mar 2024 — | Jun 2024 -17% | Sep 2024 -91% | Dec 2024 29% | Mar 2025 -79% | Jun 2025 40% | Sep 2025 29% | Dec 2025 22% | Mar 2026 -70% | Jun 2026 57%
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 12% | Mar 2024 -27% | Jun 2024 6.1% | Sep 2024 -5.0% | Dec 2024 -19% | Mar 2025 -126% | Jun 2025 -4.6% | Sep 2025 -0.2% | Dec 2025 28% | Mar 2026 — | Jun 2026 -30%
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 156% | Dec 2024 133% | Mar 2025 123% | Jun 2025 27% | Sep 2025 39% | Dec 2025 — | Mar 2026 48% | Jun 2026 —

## Return On Capital Employed

What the numbers say: S J Logistics (India) Ltd leads ROCE at 32.4%, 13 percentage points above Transport Corporation of India Ltd. Blackbuck Ltd has the strongest latest improvement at +8.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: S J Logistics (India) Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: S J Logistics (India) Ltd · 32.4% | 67% versus #2 · Transport Corporation of India Ltd | Not enough history | 18/18 companies · 146 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. S J Logistics (India) Ltd (SJLOGISTIC): 32%
2. Transport Corporation of India Ltd (TCI): 19%
3. Blue Dart Express Ltd (BLUEDART): 17%
4. JITF Infra Logistics Ltd (JITFINFRA): 15%
5. Aegis Logistics Ltd (AEGISLOG): 13%

### ROCE change — fastest improvers
1. Blackbuck Ltd (BLACKBUCK): +8.5 pp
2. Sical Logistics Ltd (SICALLOG): +7.6 pp
3. Shadowfax Technologies Ltd (SHADOWFAX): +6.1 pp
4. Allcargo Gati Ltd(Merged) (ACLGATI): +3.0 pp — older report
5. TransIndia Real Estate Ltd (TREL): +2.0 pp

### 20-quarter ROCE history
- CONCOR: Sep 2021 7.6% | Dec 2021 — | Mar 2022 11% | Jun 2022 — | Sep 2022 11% | Dec 2022 — | Mar 2023 11% | Jun 2023 — | Sep 2023 10% | Dec 2023 14% | Mar 2024 11% | Jun 2024 14% | Sep 2024 11% | Dec 2024 14% | Mar 2025 10% | Jun 2025 14% | Sep 2025 10% | Dec 2025 13% | Mar 2026 9.6% | Jun 2026 —
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -1.2% | Jun 2025 -0.2% | Sep 2025 0.8% | Dec 2025 8.0% | Mar 2026 4.9% | Jun 2026 —
- BLUEDART: Sep 2021 31% | Dec 2021 — | Mar 2022 39% | Jun 2022 — | Sep 2022 40% | Dec 2022 — | Mar 2023 27% | Jun 2023 — | Sep 2023 22% | Dec 2023 24% | Mar 2024 22% | Jun 2024 23% | Sep 2024 20% | Dec 2024 22% | Mar 2025 17% | Jun 2025 20% | Sep 2025 17% | Dec 2025 19% | Mar 2026 17% | Jun 2026 —
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -53% | Jun 2024 -38% | Sep 2024 -21% | Dec 2024 -87% | Mar 2025 -0.8% | Jun 2025 -28% | Sep 2025 2.7% | Dec 2025 19% | Mar 2026 7.7% | Jun 2026 —
- TCI: Sep 2021 19% | Dec 2021 — | Mar 2022 20% | Jun 2022 — | Sep 2022 19% | Dec 2022 — | Mar 2023 17% | Jun 2023 — | Sep 2023 15% | Dec 2023 21% | Mar 2024 14% | Jun 2024 20% | Sep 2024 15% | Dec 2024 21% | Mar 2025 15% | Jun 2025 21% | Sep 2025 15% | Dec 2025 21% | Mar 2026 14% | Jun 2026 —
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 12% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 12% | Jun 2023 — | Sep 2023 12% | Dec 2023 15% | Mar 2024 12% | Jun 2024 13% | Sep 2024 11% | Dec 2024 29% | Mar 2025 9.0% | Jun 2025 17% | Sep 2025 10% | Dec 2025 3.2% | Mar 2026 11% | Jun 2026 —
- RIIL: Sep 2021 -1.5% | Dec 2021 — | Mar 2022 -1.3% | Jun 2022 — | Sep 2022 -1.0% | Dec 2022 — | Mar 2023 -0.7% | Jun 2023 — | Sep 2023 -1.3% | Dec 2023 5.8% | Mar 2024 -1.8% | Jun 2024 4.0% | Sep 2024 -2.0% | Dec 2024 3.2% | Mar 2025 -2.8% | Jun 2025 2.9% | Sep 2025 -2.4% | Dec 2025 3.1% | Mar 2026 -1.8% | Jun 2026 3.1%
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 11% | Dec 2024 — | Mar 2025 15% | Jun 2025 — | Sep 2025 15% | Dec 2025 — | Mar 2026 13% | Jun 2026 —
- SICALLOG: Sep 2021 19% | Dec 2021 — | Mar 2022 17% | Jun 2022 — | Sep 2022 13% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -5.2% | Dec 2023 -146% | Mar 2024 3.2% | Jun 2024 2.6% | Sep 2024 -8.0% | Dec 2024 -0.5% | Mar 2025 -3.5% | Jun 2025 7.3% | Sep 2025 — | Dec 2025 35% | Mar 2026 4.1% | Jun 2026 —
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 7.1% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 29% | Jun 2024 34% | Sep 2024 15% | Dec 2024 21% | Mar 2025 11% | Jun 2025 15% | Sep 2025 7.2% | Dec 2025 8.9% | Mar 2026 6.4% | Jun 2026 —
- RITCO: Sep 2021 27% | Dec 2021 — | Mar 2022 24% | Jun 2022 — | Sep 2022 25% | Dec 2022 — | Mar 2023 28% | Jun 2023 — | Sep 2023 24% | Dec 2023 33% | Mar 2024 27% | Jun 2024 34% | Sep 2024 18% | Dec 2024 25% | Mar 2025 18% | Jun 2025 25% | Sep 2025 17% | Dec 2025 20% | Mar 2026 14% | Jun 2026 —
- JITFINFRA: Sep 2021 4.8% | Dec 2021 — | Mar 2022 5.8% | Jun 2022 — | Sep 2022 7.1% | Dec 2022 — | Mar 2023 8.4% | Jun 2023 — | Sep 2023 12% | Dec 2023 16% | Mar 2024 16% | Jun 2024 17% | Sep 2024 10% | Dec 2024 19% | Mar 2025 12% | Jun 2025 18% | Sep 2025 13% | Dec 2025 16% | Mar 2026 14% | Jun 2026 —

### 20-quarter ROCE change history
- CONCOR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.8 pp | Dec 2022 — | Mar 2023 +0.6 pp | Jun 2023 — | Sep 2023 −1.0 pp | Dec 2023 — | Mar 2024 −0.6 pp | Jun 2024 — | Sep 2024 +0.2 pp | Dec 2024 +0.1 pp | Mar 2025 −0.3 pp | Jun 2025 −0.5 pp | Sep 2025 −0.6 pp | Dec 2025 −0.9 pp | Mar 2026 −0.7 pp | Jun 2026 —
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 +6.1 pp | Jun 2026 —
- BLUEDART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +9.0 pp | Dec 2022 — | Mar 2023 −12.1 pp | Jun 2023 — | Sep 2023 −18.1 pp | Dec 2023 — | Mar 2024 −5.4 pp | Jun 2024 — | Sep 2024 −2.4 pp | Dec 2024 −2.3 pp | Mar 2025 −4.6 pp | Jun 2025 −3.1 pp | Sep 2025 −2.8 pp | Dec 2025 −3.2 pp | Mar 2026 −0.1 pp | Jun 2026 —
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 +52.3 pp | Jun 2025 +10.0 pp | Sep 2025 +23.9 pp | Dec 2025 +105.9 pp | Mar 2026 +8.5 pp | Jun 2026 —
- TCI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.9 pp | Dec 2022 — | Mar 2023 −2.9 pp | Jun 2023 — | Sep 2023 −4.6 pp | Dec 2023 — | Mar 2024 −3.9 pp | Jun 2024 — | Sep 2024 −0.3 pp | Dec 2024 +0.8 pp | Mar 2025 +1.4 pp | Jun 2025 +1.1 pp | Sep 2025 0.0 pp | Dec 2025 −0.2 pp | Mar 2026 −0.7 pp | Jun 2026 —
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.7 pp | Jun 2023 — | Sep 2023 +0.1 pp | Dec 2023 — | Mar 2024 −0.1 pp | Jun 2024 — | Sep 2024 −1.2 pp | Dec 2024 +14.3 pp | Mar 2025 −3.2 pp | Jun 2025 +3.8 pp | Sep 2025 −1.2 pp | Dec 2025 −25.9 pp | Mar 2026 +1.5 pp | Jun 2026 —
- RIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 — | Mar 2023 +0.6 pp | Jun 2023 — | Sep 2023 −0.3 pp | Dec 2023 — | Mar 2024 −1.1 pp | Jun 2024 — | Sep 2024 −0.7 pp | Dec 2024 −2.6 pp | Mar 2025 −1.0 pp | Jun 2025 −1.1 pp | Sep 2025 −0.4 pp | Dec 2025 −0.1 pp | Mar 2026 +1.0 pp | Jun 2026 +0.2 pp
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 +3.9 pp | Dec 2025 — | Mar 2026 −1.9 pp | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.6 pp | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −17.7 pp | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −2.8 pp | Dec 2024 +145.8 pp | Mar 2025 −6.7 pp | Jun 2025 +4.7 pp | Sep 2025 — | Dec 2025 +35.3 pp | Mar 2026 +7.6 pp | Jun 2026 —
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +21.9 pp | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 −17.8 pp | Jun 2025 −19.1 pp | Sep 2025 −7.7 pp | Dec 2025 −11.6 pp | Mar 2026 −4.8 pp | Jun 2026 —
- RITCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.4 pp | Dec 2022 — | Mar 2023 +3.9 pp | Jun 2023 — | Sep 2023 −0.7 pp | Dec 2023 — | Mar 2024 −0.9 pp | Jun 2024 — | Sep 2024 −6.5 pp | Dec 2024 −8.6 pp | Mar 2025 −8.8 pp | Jun 2025 −9.2 pp | Sep 2025 −0.8 pp | Dec 2025 −4.3 pp | Mar 2026 −3.5 pp | Jun 2026 —
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.3 pp | Dec 2022 — | Mar 2023 +2.6 pp | Jun 2023 — | Sep 2023 +4.8 pp | Dec 2023 — | Mar 2024 +7.5 pp | Jun 2024 — | Sep 2024 −1.7 pp | Dec 2024 +2.8 pp | Mar 2025 −3.6 pp | Jun 2025 +0.9 pp | Sep 2025 +2.4 pp | Dec 2025 −3.5 pp | Mar 2026 +1.4 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Gateway Distriparks Ltd has the lowest comparable PEG at 1.02×, 27.7% below Transport Corporation of India Ltd. Only 5 of 18 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Gateway Distriparks Ltd · 1.02× | 27.7% versus #2 · Transport Corporation of India Ltd | 0/8 recent comparable periods | 5/18 companies · 35 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Gateway Distriparks Ltd (GATEWAY): 1.0
2. Transport Corporation of India Ltd (TCI): 1.4
3. Blackbuck Ltd (BLACKBUCK): 2.2
4. Container Corporation Of India Ltd (CONCOR): 3.6
5. Blue Dart Express Ltd (BLUEDART): 3.8

### P/E — lowest P/E
1. S J Logistics (India) Ltd (SJLOGISTIC): 6.4
2. Gateway Distriparks Ltd (GATEWAY): 11.2
3. Allcargo Terminals Ltd (ATL): 15.0
4. Transport Corporation of India Ltd (TCI): 15.4
5. TransIndia Real Estate Ltd (TREL): 16.6

### 20-quarter PEG history
- CONCOR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 2.5 | Sep 2022 — | Dec 2022 0.7 | Mar 2023 0.7 | Jun 2023 3.1 | Sep 2023 — | Dec 2023 — | Mar 2024 7.3 | Jun 2024 6.8 | Sep 2024 3.3 | Dec 2024 4.0 | Mar 2025 3.6 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- BLUEDART: Sep 2021 — | Dec 2021 1.6 | Mar 2022 0.8 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 1.8 | Dec 2025 — | Mar 2026 6.9 | Jun 2026 3.8
- TCI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.3 | Dec 2022 0.5 | Mar 2023 0.8 | Jun 2023 1.7 | Sep 2023 — | Dec 2023 2.8 | Mar 2024 0.8 | Jun 2024 2.0 | Sep 2024 2.1 | Dec 2024 1.8 | Mar 2025 1.7 | Jun 2025 1.2 | Sep 2025 1.1 | Dec 2025 1.3 | Mar 2026 1.3 | Jun 2026 1.4
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.4 | Sep 2022 0.6 | Dec 2022 — | Mar 2023 — | Jun 2023 1.6 | Sep 2023 1.3 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.2 | Mar 2026 — | Jun 2026 1.0

### 20-quarter P/E history
- AEGISLOG: Sep 2021 32.7 | Dec 2021 26.0 | Mar 2022 21.6 | Jun 2022 20.6 | Sep 2022 24.1 | Dec 2022 31.0 | Mar 2023 31.9 | Jun 2023 24.3 | Sep 2023 24.3 | Dec 2023 24.3 | Mar 2024 30.5 | Jun 2024 53.8 | Sep 2024 44.4 | Dec 2024 48.9 | Mar 2025 48.9 | Jun 2025 41.3 | Sep 2025 39.6 | Dec 2025 35.3 | Mar 2026 27.9 | Jun 2026 44.6
- CONCOR: Sep 2021 63.2 | Dec 2021 50.4 | Mar 2022 53.0 | Jun 2022 35.9 | Sep 2022 39.6 | Dec 2022 39.4 | Mar 2023 30.6 | Jun 2023 34.4 | Sep 2023 38.9 | Dec 2023 44.1 | Mar 2024 43.9 | Jun 2024 50.4 | Sep 2024 43.6 | Dec 2024 36.9 | Mar 2025 31.6 | Jun 2025 35.0 | Sep 2025 30.2 | Dec 2025 30.2 | Mar 2026 26.1 | Jun 2026 28.8
- SHADOWFAX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 273.5 | Jun 2026 117.8
- BLUEDART: Sep 2021 55.1 | Dec 2021 46.0 | Mar 2022 42.3 | Jun 2022 42.5 | Sep 2022 42.4 | Dec 2022 38.7 | Mar 2023 33.6 | Jun 2023 46.4 | Sep 2023 50.7 | Dec 2023 59.7 | Mar 2024 50.1 | Jun 2024 65.3 | Sep 2024 65.6 | Dec 2024 58.9 | Mar 2025 52.9 | Jun 2025 59.8 | Sep 2025 54.3 | Dec 2025 48.5 | Mar 2026 39.5 | Jun 2026 42.1
- BLACKBUCK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -869.1 | Jun 2025 -2,151.2 | Sep 2025 29.7 | Dec 2025 32.1 | Mar 2026 28.5 | Jun 2026 27.3
- TCI: Sep 2021 16.1 | Dec 2021 24.1 | Mar 2022 16.4 | Jun 2022 17.8 | Sep 2022 18.5 | Dec 2022 15.1 | Mar 2023 15.1 | Jun 2023 17.3 | Sep 2023 18.8 | Dec 2023 18.8 | Mar 2024 18.8 | Jun 2024 19.9 | Sep 2024 23.4 | Dec 2024 23.0 | Mar 2025 20.9 | Jun 2025 21.1 | Sep 2025 21.4 | Dec 2025 18.9 | Mar 2026 16.1 | Jun 2026 15.6
- SINDHUTRAD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 207.9 | Dec 2023 40.9 | Mar 2024 21.6 | Jun 2024 46.4 | Sep 2024 33.2 | Dec 2024 18.9 | Mar 2025 31.5 | Jun 2025 33.0 | Sep 2025 676.5 | Dec 2025 489.2 | Mar 2026 527.5 | Jun 2026 623.2
- GATEWAY: Sep 2021 — | Dec 2021 — | Mar 2022 14.9 | Jun 2022 14.4 | Sep 2022 15.7 | Dec 2022 0.0 | Mar 2023 12.2 | Jun 2023 15.0 | Sep 2023 17.7 | Dec 2023 20.0 | Mar 2024 18.7 | Jun 2024 20.1 | Sep 2024 19.2 | Dec 2024 17.6 | Mar 2025 12.6 | Jun 2025 14.2 | Sep 2025 12.7 | Dec 2025 12.2 | Mar 2026 11.0 | Jun 2026 11.4
- RIIL: Sep 2021 104.7 | Dec 2021 125.3 | Mar 2022 112.9 | Jun 2022 142.8 | Sep 2022 221.1 | Dec 2022 201.8 | Mar 2023 166.3 | Jun 2023 130.8 | Sep 2023 124.6 | Dec 2023 162.0 | Mar 2024 139.2 | Jun 2024 153.5 | Sep 2024 143.4 | Dec 2024 119.0 | Mar 2025 97.9 | Jun 2025 122.0 | Sep 2025 107.4 | Dec 2025 102.0 | Mar 2026 79.7 | Jun 2026 101.5
- TEJASCARGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.3 | Jun 2025 — | Sep 2025 32.7 | Dec 2025 — | Mar 2026 29.7 | Jun 2026 —
- ACLGATI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 430.8 | Dec 2022 477.8 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 95.6 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SICALLOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -149.1 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -19.9 | Jun 2025 — | Sep 2025 — | Dec 2025 14.0 | Mar 2026 — | Jun 2026 —
- WCIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 15.7 | Dec 2024 11.8 | Mar 2025 8.9 | Jun 2025 17.5 | Sep 2025 23.4 | Dec 2025 26.2 | Mar 2026 18.7 | Jun 2026 26.5
- RITCO: Sep 2021 8.1 | Dec 2021 7.8 | Mar 2022 10.5 | Jun 2022 16.6 | Sep 2022 21.7 | Dec 2022 16.1 | Mar 2023 16.3 | Jun 2023 17.2 | Sep 2023 24.4 | Dec 2023 23.7 | Mar 2024 17.5 | Jun 2024 22.8 | Sep 2024 22.7 | Dec 2024 26.4 | Mar 2025 17.4 | Jun 2025 18.7 | Sep 2025 17.7 | Dec 2025 18.1 | Mar 2026 12.4 | Jun 2026 21.1
- JITFINFRA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -16.5 | Dec 2023 -82.7 | Mar 2024 — | Jun 2024 80.4 | Sep 2024 122.6 | Dec 2024 77.8 | Mar 2025 126.9 | Jun 2025 141.0 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- TREL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 26.9 | Sep 2024 27.1 | Dec 2024 25.6 | Mar 2025 29.4 | Jun 2025 32.7 | Sep 2025 24.8 | Dec 2025 21.2 | Mar 2026 18.0 | Jun 2026 17.7
- ATL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 30.4 | Sep 2024 26.7 | Dec 2024 22.6 | Mar 2025 13.7 | Jun 2025 24.0 | Sep 2025 31.0 | Dec 2025 24.9 | Mar 2026 17.4 | Jun 2026 15.8
- SJLOGISTIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 6.3 | Mar 2024 10.8 | Jun 2024 27.1 | Sep 2024 33.5 | Dec 2024 24.9 | Mar 2025 17.2 | Jun 2025 13.2 | Sep 2025 10.5 | Dec 2025 — | Mar 2026 6.0 | Jun 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 6 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.

## Every company
- Aegis Logistics Ltd (AEGISLOG) — market value ₹44.4K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD
- Container Corporation Of India Ltd (CONCOR) — market value ₹40.1K Cr; latest fundamentals Jun 2026
- Shadowfax Technologies Ltd (SHADOWFAX) — market value ₹14.7K Cr; latest fundamentals Jun 2026
- Blue Dart Express Ltd (BLUEDART) — market value ₹12.2K Cr; latest fundamentals Jun 2026
- Blackbuck Ltd (BLACKBUCK) — market value ₹10.4K Cr; latest fundamentals Jun 2026
- Transport Corporation of India Ltd (TCI) — market value ₹7.0K Cr; latest fundamentals Jun 2026
- Sindhu Trade Links Ltd (SINDHUTRAD) — market value ₹3.6K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD
- Gateway Distriparks Ltd (GATEWAY) — market value ₹2.7K Cr; latest fundamentals Jun 2026
- Reliance Industrial Infrastructure Ltd (RIIL) — market value ₹1.1K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- Tejas Cargo India Ltd (TEJASCARGO) — market value ₹1.0K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Allcargo Gati Ltd(Merged) (ACLGATI) — market value ₹971 Cr; latest fundamentals Jun 2025
- Sical Logistics Ltd (SICALLOG) — market value ₹923 Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- Western Carriers (India) Ltd (WCIL) — market value ₹882 Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- Ritco Logistics Ltd (RITCO) — market value ₹846 Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- JITF Infra Logistics Ltd (JITFINFRA) — market value ₹808 Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures
- TransIndia Real Estate Ltd (TREL) — market value ₹637 Cr; latest fundamentals Jun 2026
- Allcargo Terminals Ltd (ATL) — market value ₹632 Cr; latest fundamentals Jun 2026
- S J Logistics (India) Ltd (SJLOGISTIC) — market value ₹484 Cr; latest fundamentals Mar 2026

## Source standing of each company

Cross-checked: 6. Unverified: 10. Withheld: 2. Graded companies: 18.

6 of 18 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

2 of 18 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Aegis Logistics Ltd (AEGISLOG) — its two data sources disagree by up to 26% on reported income across 14 comparable periods, so its derived ratios are withheld; Sindhu Trade Links Ltd (SINDHUTRAD) — its two data sources disagree by up to 162% on reported income across 14 comparable periods, so its derived ratios are withheld.

- WITHHELD | AEGISLOG | Aegis Logistics Ltd | diff_gt_2pct | disagreement up to 26.18% over 14 comparable periods
- WITHHELD | SINDHUTRAD | Sindhu Trade Links Ltd | diff_gt_2pct | disagreement up to 161.72% over 14 comparable periods

- UNVERIFIED | RIIL | Reliance Industrial Infrastructure Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | TEJASCARGO | Tejas Cargo India Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | SICALLOG | Sical Logistics Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | WCIL | Western Carriers (India) Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | RITCO | Ritco Logistics Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | JITFINFRA | JITF Infra Logistics Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-14.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Logistics sector outperforming NIFTY 500?

Logistics has outperformed NIFTY 500 by 10.2% over 52 weeks and 8.8% over 13 weeks. 5 of 17 covered companies beat NIFTY on Mansfield relative strength, while 7 of 17 beat the sector itself.

### Which Logistics company is largest by revenue?

Container Corporation Of India Ltd leads with revenue of ₹9,086 crore, based on 17 of 18 comparable companies through Jun 2026.

### Which Logistics company is growing fastest?

Shadowfax Technologies Ltd has the fastest current revenue growth at 70.8%, across 17 of 18 comparable companies.

### Which Logistics company has the strongest 4-Factor Sector Score?

Aegis Logistics Ltd ranks first at 71/100 with 82.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Logistics company has the lowest comparable PEG?

Gateway Distriparks Ltd has the lowest comparable PEG at 1.02, among 5 of 18 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Logistics comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Is there a Nifty Logistics index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Logistics, this page builds its own equal-weight basket of 18 listed Logistics companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

### Which are the best Logistics stocks in India?

Ranked by this page's four-factor score, Aegis Logistics Ltd places first among 18 listed Logistics companies, followed by Blackbuck Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Logistics stocks are listed in India?

This comparison covers 18 listed Logistics companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Logistics company is the biggest?

Container Corporation Of India Ltd is the largest, with trailing-twelve-month revenue of ₹9,086 crore, ahead of Aegis Logistics Ltd at ₹8,970 crore. That covers 17 of 18 companies with comparable reporting through Jun 2026.

### Which Logistics company has the best profit margins?

TransIndia Real Estate Ltd has the highest operating margin at 55%, from 18 of 18 comparable companies. Aegis Logistics Ltd shows the biggest recent improvement, at +16 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Logistics company makes the most profit?

Aegis Logistics Ltd earns the most, at ₹1,477 crore of trailing-twelve-month net profit, from 17 of 18 comparable companies. Shadowfax Technologies Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Logistics company earns the highest return on capital?

S J Logistics (India) Ltd leads on return on capital employed at 32.4%, across 18 of 18 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Logistics stock is the cheapest?

On PEG — where a LOWER number is cheaper — Gateway Distriparks Ltd screens cheapest at 1.02×. Only 5 of 18 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Logistics sector beating the market?

Logistics has outperformed NIFTY 500 by 10.2% over the last 52 weeks and 8.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 5 of 17 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Logistics stock has the strongest price momentum?

Aegis Logistics Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Logistics company scores highest for research priority?

Aegis Logistics Ltd scores 71 out of 100 with 82.3% evidence confidence, from 26.8 points on growth and earnings, 17.1 on capital efficiency, 7.1 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Logistics companies does this comparison cover, and over what period?

It compares 18 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Logistics sector?

The 18 Logistics companies on this page carry ₹1,43,627 crore of combined market value. Aegis Logistics Ltd is the largest at ₹44,416 crore, about 31% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-18.

### What is the Logistics sector's P/E ratio?

The median price-to-earnings ratio across the 18 Logistics companies on this page is 35.5×, measured on the 17 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-18.

### How is the Logistics sector performing?

5 of the 17 covered Logistics companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 10.2% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-18.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.