Tejas Cargo India Ltd(TEJASCARGO)

NSE: TEJASCARGO

₹ 396+0.00%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 946 crUpdated: 24 Oct 2026

About

Tejas Cargo India Ltd moves goods by road for its clients using a mostly self-owned fleet. That fleet reached 1,338 vehicles in FY26. The company reported FY26 revenue of Rs 628.72 cr and completed 1,20,530 trips in the year. It is adding coal, fly ash, mining, car carrier and freight forwarding logistics, and listed on NSE Emerge on 24 Feb 2025.^[1][2][3]

Services and verticals

In FY26 the company added coal (CCL-linked), fly ash (BSRTC-linked), mining, freight forwarding and car carrier logistics. It was also awarded a bauxite mining contract by CMDC Ltd.^[1]
Steel and cement made up about 20% of revenue in H1 FY26. Revenue per truck in these sectors was Rs 5.5 lakh a month, against Rs 3.5 lakh for FMCG.^[4]
About 50 car carrier vehicles were deployed within two months as of H1 FY26. TVS, Hyundai and Toyota were onboarded, with Tata and MG in the pipeline.^[4]
Cross-border import work, which does not use the company's own assets, brings in 200-300 containers a month from China and Vietnam (H1 FY26).^[4]

Fleet and network

The owned fleet was 1,338 vehicles in FY26, up from 1,199 in FY25. That FY25 fleet was 899 container trucks and 300 trailers.^[1][5]
205 vehicles were added in FY26, including 40 car carrier trailers. 108 of them came in H2: 35 container trucks (9-18T) and 73 trailers (40T).^[1]
The fleet had 320 trailers in H1 FY26, against 110 in FY24.^[4]
The company had 22 branch offices, as stated in the Q3 FY25 call.^[6]
Its own PESO-licensed diesel pump at Rewari serves 30%+ of trips. Diesel savings against retail prices were ~7% in FY26, down from ~14.6% in FY25.^[5][1]

Key operating numbers

Trips completed: 1,20,530 in FY26, about 13% more than the 1,06,889 in FY25. FY24 trips were 98,913.^[1][5][6]
Revenue per trip rose 9.3% YoY in FY26.^[1]
Fleet utilisation was 82% in FY26, the same as ~82% in FY25.^[1][5]
86% of deliveries were on schedule in FY26, the same as 86% in FY25.^[1][5]

Customers

Clients added in FY26 include ArcelorMittal Nippon Steel, ACC, ITC, Nayara Energy and CMDC Ltd.^[1]
The top-10 clients' share of revenue was 78% in H1 FY26, against 84% in FY25.^[4][5]
The company had 85+ active clients in H1 FY26.^[4]
The company signed a five-year agreement to deploy electric vehicles for Amazon's last-mile e-commerce deliveries.^[4]

Expansion plans

Management targets about 40% of revenue from aggregated (non-owned, hired) vehicles by FY27.^[1]
Planned capex is about 100 vehicles a year for replacements and additions.^[1]
The company plans two new fuel facilities, one in the West and one in the North.^[1]
It is in talks with Hyundai, Kia and Mahindra about car carrier partnerships, and is exploring rail logistics and cross-border freight.^[1]
It is in talks with several clients about deploying electric vehicles at a significant scale.^[1]

Listing and IPO proceeds

The SME IPO raised Rs 10,584.00 lakh gross, and shares listed on NSE Emerge on 24 Feb 2025.^[3]
As of FY25, unused IPO funds included 1,540.29 lakh held for buying trailers in FY 2025-26 and 1,500.00 lakh held for repaying borrowings.^[3]

Market Cap

₹946 Cr

High / Low

₹436 / 251

Stock P/E

46.8

Price / Book

5.3

Book Value

₹81

EPS

₹8.8

No. of Shares

2.39 Cr

ROCE

12.1%

ROE

11.4%

OPM

7.1%

Debt / Equity

1.14

Sales

₹629 Cr

Net Profit

₹21 Cr

Promoter holding

74.7%

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