Blue Water Logistics FY26: Near Doubling of Revenue and a Sharper Multi-Modal Mix

FY26 revenue from operations was ₹386.021 crore, EBITDA was ₹43.973 crore, and PAT was ₹25.207 crore, as per the investor presentation financials.

In Q4 FY26, revenue from operations was ₹135.384 crore, EBITDA was ₹15.401 crore, and PAT was ₹9.191 crore (all figures in ₹ crore after converting from ₹ lacs).

FY26 revenue split in the presentation shows Ocean Freight ₹270.214 crore (70%), NVOCC ₹30.882 crore (8%), Surface and Railway ₹23.161 crore (6%), Air Freight ₹50.183 crore (13%), and Custom House Clearance ₹11.581 crore (3%).

FY26 net cash from operating activities was -₹53.426 crore, primarily due to a large working-capital outflow (change in working capital of -₹91.278 crore) alongside growth in receivables.

Management stated the receivables increase was driven by strong last-quarter billing and onboarding of new customers, and the CFO said around ₹100 crore had been recovered, with a credit cycle of 60 to 90 days.

Management discussed scaling air freight via additional airline partnerships, expanding into dry containers and project cargo, and international expansion into Indonesia, Vietnam, Malaysia, Thailand and China; it also mentioned a plan to reach 5,000 plus ISO tanks within three years.