Shreeji Shipping Global is a prominent player in India’s dry-bulk shipping logistics space. Shreeji Shipping H1 FY26 performance highlights operational resilience and margin expansion, even as a one-time gain in the previous fiscal period tempered net profit growth.
Shreeji Shipping H1 FY26: Solid Revenue & Margin Growth
For the first half of FY26, revenue from operations rose 17.26% YoY to INR 323.39 crore, compared to INR 275.80 crore in H1 FY25. The company’s EBITDA surged 34.14% to INR 118.63 crore, with margins expanding sharply by 461 basis points to 36.68%.
Net profit before exceptional items and tax grew 29.64% YoY to INR 97.35 crore, while net profit after tax stood at INR 79.91 crore versus INR 80.95 crore in the same period last year. The marginal decline in PAT and EPS (INR 5.32 vs. INR 5.74) is attributed to the absence of exceptional income of INR 31.78 crore booked in H1 FY25.
Despite this base effect, operational metrics indicate a healthy core business expansion and cost efficiency.
Shreeji Shipping Q2 FY26 vs Q1 FY26
Shreeji Shipping Q2 FY26 results reflected sequential improvement, underscoring steady growth momentum post its IPO listing in August 2025.
- Total Income: INR 166.06 crore, up 1.89% QoQ (INR 162.97 crore in Q1 FY26).
- Net Profit: INR 42.70 crore, up 14.77% QoQ (INR 37.21 crore in Q1).
- EPS: INR 2.78 (vs INR 2.54 in Q1, +9.45%).
Year-on-year, the company’s total income was up 13.58%, though net profit declined 23.9% due to the exceptional item in the base period. Excluding this effect, operational profit improved by over 10%, reflecting robust cargo volumes and cost optimisation.
According to regulatory filings, revenue for Q2 FY26 increased 11.3% YoY to INR 162.19 crore from INR 145.72 crore in Q2 FY25.
Management Commentary: Focus on Efficiency and Expansion
Commenting on the results, Mr. Ashokkumar Haridas Lal, Chairman & Managing Director, highlighted that the company’s first-half performance “demonstrates the strength and adaptability of our integrated shipping and logistics business.”
He emphasised that Q2 net profit rose 14.75% sequentially, driven by efficient cargo handling and disciplined cost control. Despite seasonal constraints in the monsoon months, the company managed to sustain revenue growth through its diversified service offerings and long-term contracts.
Shreeji Shipping also received a LOI to establish Floating Crane Facilities at Diamond Harbour under Syama Prasad Mukherjee Port Trust, Kolkata — a strategic project expected to contribute to revenue within FY26. Mr. Lal noted that the company’s IPO proceeds will aid in expanding its service portfolio and strengthening its port-led operations.
Operational Strength and Market Position
As of 31 March 2025, Shreeji Shipping operated a fleet of over 80 vessels (barges, mini bulk carriers, tugboats, and floating cranes) and more than 370 earthmoving machines across ports in India and Sri Lanka. The company’s business model focuses on non-major ports along India’s West Coast — including Navlakhi, Bedi, Magdalla, Bhavnagar, and Dharamtar — and international operations at Puttalam Port in Sri Lanka.
Its service portfolio includes ship-to-ship lighterage, stevedoring, port management, and equipment rentals, positioning it as a key logistics partner for bulk cargo movement.
Stock Market Performance
Following the results, Shreeji Shipping’s shares traded at INR 242.05 on the BSE, marginally higher than the previous close of INR 238.40. The stock hit an intraday high of INR 243.00, with a trading volume of over 17,000 shares.
While the share saw mild volatility after listing — reportedly falling around 5% post-IPO before stabilising — the market’s reaction to the Q2 performance remained steady, reflecting investor confidence in the company’s fundamentals.
Verdict
Analysts view Shreeji Shipping H1 FY26 and Q2 results as operationally strong. The company’s revenue and EBITDA growth exceeded expectations, while the marginal decline in reported PAT was a base-effect distortion.
With EBITDA margins up 461 bps and sustained volume growth, the company is well-positioned to benefit from port infrastructure expansion, diversified cargo handling, and fleet utilisation efficiency.
As noted in the TipRanks India update, the company’s “notable increase in profit margins” and “robust operational performance” enhance its market positioning. Continued capacity expansion and the new floating crane project are expected to drive H2 FY26 growth, typically the stronger half for shipping logistics.
Outlook
With India’s coastal and dry-bulk logistics sector expected to grow amid rising industrial and port activity, Shreeji Shipping appears set for sustained growth. The company’s focus on non-major ports, diversified fleet, and disciplined financial management provides a solid foundation for scalability.
Barring external headwinds in freight rates or port disruptions, FY26 could see record full-year revenues and improved profitability, supported by the company’s ongoing infrastructure expansion and efficient cost management.
In summary: Shreeji Shipping Global delivered a strong H1 FY26 with 17% revenue growth, 34% EBITDA growth, and a 461 bps margin improvement, underscoring operational excellence. While headline profits were muted by a one-off base, the company’s core financials remain robust, signaliing a confident outlook for FY26.
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