Tiger Logistics (India) reported a strong Q2 FY2026-27 with revenue reaching ₹225.14 crore, marking a 47.6% QoQ growth. EBITDA and PAT both saw significant jumps, rising 2.3x and 2.7x respectively. Simultaneously, Infomerics Valuation and Rating reaffirmed the company's long-term rating at IVR A-/Negative and short-term rating at IVR A2+.
Tiger Logistics Reports Strong Q2 Growth and Credit Rating Reaffirmation
Revenue grew by 47.6% QoQ to ₹225.14 crore; PAT increased 2.7x over the same period.
Reader Takeaway: Robust operational volume growth and improved realizations drive performance despite the negative outlook on long-term ratings.
What just happened
Tiger Logistics (India) Limited has received a credit rating reaffirmation from Infomerics Valuation and Rating Limited. The rating agency maintained the company's long-term bank facilities at IVR A-/Negative and short-term facilities at IVR A2+. Alongside this, the company released its Q2 FY2026-27 financial results, demonstrating significant expansion in its bottom-line metrics.
Why this matters
The reaffirmation serves as a validation of the company's asset-light business model and its established position within the international freight forwarding and customs clearance sectors. The sharp increase in profitability, with PAT and EBITDA both more than doubling sequentially, suggests a successful execution of the company's growth strategy during the quarter.
Operational Performance
The company demonstrated operational efficiency during the first half of the fiscal year. Total revenue for H1 stood at ₹377.66 crore. Container volumes grew by 12.7%, totaling 46,880 TEUs, while the average realization per unit saw a marked improvement of 48% compared to the same period in the previous fiscal year.
Management Commentary
Harpreet Singh Malhotra, CMD of Tiger Logistics, noted that the rating stability reflects the company's underlying business resilience. He emphasized that the company’s focus on diversification and execution has created a solid foundation for the upcoming growth phase.
Risks to watch
Investors should note the 'Negative' outlook attached to the long-term credit rating (IVR A-). While the operational numbers are robust, the outlook suggests that the rating agency remains cautious regarding specific credit-related variables that may impact the company's long-term financial stability.