1. EXECUTIVE SUMMARY
Indias logistics market is projected at USD 259 289 billion in 2025, growing at 8.78 11.4% CAGR toward USD
466 528 billion by the early 2030s. E-commerce is valued at USD 125 159 billion, while real estate reaches USD 585 596 billion. Cement production hit 491.4 million MT in FY26 (up 8.6% YoY), driven by a Rs 12.2 lakh crore infrastructure outlay and aggressive capacity expansion by leading manufacturers. Kaushalya Logistics continues to expand its integrated logistics, e-commerce, and commercial real estate footprint across states. The Company is leveraging PM Gati Shakti corridors, digitization, and client capacity expansions to drive sustainable growth and margin improvement.
2. COMPANY PERFORMANCE
Kaushalya Logistics operates across 125+ locations, serving Dalmia Cement Bharat Limited, Adani Group (ACC
Cement Ltd & Ambuja Cement Ltd), and Shree Cement Ltd. As a diamond-category e-commerce seller, the Company offers Clearing & Forwarding (CFA), and Clearing Consignment & Forwarding Agent (CCFA) services and Multi-modal Logistics, alongside commercial real estate rentals.
During FY 2025-26, the Logistics business continued to show revenue growth driven by expanded client relationships and geographic coverage. The E-Commerce division improved margins by focusing on niche products, despite market-wide disruption from quick-commerce models. The Real Estate portfolio contributed stable rental income, benefitingfrom the broader uptrend in commercial property demand and rising GCC-driven office absorption.
Our Revenues stood at 2,52,137.67 Lakhs with EBITDA reaching 2,547.77 Lakhs and Net profit of 1,222.30 lakhs in this financial year.
3. OUTLOOK & STRATEGY
The Company remains focused on achieving a robust, pan-India supply chain presence with a target of 200+ locations. The cement logistics vertical is expected to benefit directly from client capacity expansions,warehousing, and CFA services.
Strategic priorities for FY 2026-27 include:
Technology Integration: Deploy Tech/ Analytics to reduce costs by 15 20% through digitized logistics operations.
E-Commerce Growth: Leverage diamond-category status for quick-commerce, D2C, and Tier-II/III city penetration.
Real Estate Expansion: Add commercial shop portfolio in emerging logistics/industrial hubs.
New Verticals: Evaluate temperature-controlled and multimodal freight partnerships to diversify revenue streams.
4. RISKS & CONCERNS
5. FACTORS AFFECTING OPERATIONS
| Factor | Impact & Mitigation |
| Working Capital | Logistics and e-commerce are working-capital intensive, requiring continuous investment in fleet, inventory, and technology. |
| Competition | Fragmented industry (top 5 = 28% share). Pricing pressure from organized and unorganized players. |
| Labour Intensiveness | Last-mile and warehousing remain labour-heavy. Wage inflation and shortage are persistent challenges. |
| Internal Controls | Multi-state GST compliance, TDS on contractor payments, and financial reporting need continuous strengthening. |
| Technology Adoption | The 15 20% cost gap between digitized and manual operations is widening; accelerated investment is critical. |
6. ACKNOWLEDGEMENT
Your Directors express their deep gratitude to vendors, business associates, employees, investors, and banks for their continued support and co-operation during the year under review. With stakeholder trust, a disciplined capital allocation framework, and a clear strategic roadmap, the Company is well-positioned to navigate the evolving market landscape and achieve its objectives for FY 2026-27.
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