Tiger Logistics (India) Ltd

Tiger Logistics Sees 52% YoY Volume Growth 📈

- Q3 volume increased 9% quarter-on-quarter and 52% year-on-year.

- Top line declined due to the lowest freight levels in years.

- TiGreen vertical (renewable/solar logistics) contributes over 40% of total revenue.

- New pharma sector expansion in Punjab, Haryana, and Himachal is showing positive results.

- CUBOX (LCL model) is breaking even but growing slower than expected.

- Hydrogen logistics MOU with Russia is exploratory, with no major investment planned.

- Air freight revenue declined due to geopolitical issues and reduced demand for high-fashion goods.

- Company is open to inorganic acquisitions in international logistics but has not found suitable targets.

- Financial hygiene is maintained with focus on receivables and timely payments.

- Bullish outlook on upcoming quarters, especially in solar logistics due to expected CAPEX increases in the sector.