Logistics stocks: India movers and FY26 earnings in 2026

Logistics index beats the market, but stock moves split

India’s logistics sector is showing a clear split between index-level momentum and stock-specific outcomes. The logistics sector index has climbed 8% year-to-date, ahead of the broader market’s 5% rise. But that headline performance hides sharp differences driven by company structure changes, profit volatility, and operating leverage.

Large-cap and mid-cap names are reacting more to earnings quality and business clarity than to the sector tailwind. Some companies are seeing steady trading and stable drawdowns, while others are still digesting demergers or struggling to return to consistent profitability.

A quick map of the big logistics names

As of 7 October 2025, a market-cap based list of leading logistics shares in India included Container Corporation of India, Delhivery, Blue Dart Express, Blackbuck, Shipping Corporation of India, Transport Corporation of India (TCI), TVS Supply Chain Solutions, VRL Logistics, NDR InvIT Trust, and Sindhu Trade Links.

This mix spans rail logistics, express parcels, port and infrastructure-linked services, road freight, and integrated 3PL and warehousing models. That business diversity explains why the sector can rise as a group even when individual stocks move in very different directions.

Divergent one-year returns: Allcargo vs TCI vs JSW Infrastructure

Recent trading snapshots underline how dispersed returns have been.

Allcargo Logistics, trading at ₹78.50 with 1.5 million shares traded daily, is down 76.1% over the past year. The period included business demergers, which can complicate comparisons and often increases uncertainty until the post-demerger earnings profile stabilises.

Transport Corporation of India (TCI), trading at ₹755.00 with 200,000 shares traded daily, has been relatively steady, down 2.8%. JSW Infrastructure, a port services operator trading at ₹298.00 with 5 million shares traded daily, has seen only a 0.4% dip, indicating a more stable market view around its infrastructure-focused growth.

What recent profit numbers say about execution

Profit trends are equally uneven.

Allcargo reported only ₹10 crore in Q4 FY26 profit. The update pointed to a difficult path to consistent profitability, despite technology investments and a recent partnership aimed at improving operations.

TCI, in contrast, reported Q4 FY26 net profit of ₹130 crore and ended the year with 15% full-year profit growth. On capital efficiency, the company reported ROCE of 20.5% and ROE of 19.8%, levels that stand out within listed logistics peers.

A separate earnings datapoint in the same set of updates showed one logistics operator’s Q4 FY26 net profit jumping to ₹420 crore on ₹1,500 crore revenue, pointing to the kind of operating leverage the sector can generate when capacity utilisation improves.

VRL and Blue Dart: different models, similar focus on returns

A Hindi-language market commentary also highlighted two widely tracked names. VRL Logistics was described as an asset-heavy but stable road transport business, with the stock price noted at ₹256 and return ratios listed as ROC 15% and ROE 17%.

Blue Dart Express, associated with the DHL brand, was referenced with a market price of ₹5,476 and return ratios of ROCE 16% and ROE 16%.

In a separate results-driven move, Blue Dart Express shares hit a 20% upper circuit, closing at ₹6,645 versus the prior close of ₹5,537.50. The company reported Q2 FY26 revenue of ₹1,549.33 crore, EBITDA of ₹251.96 crore, and consolidated net profit of ₹81.38 crore. EPS for the quarter was reported at about ₹34.30.

Tiger Logistics: price momentum despite a weaker quarter snapshot

Tiger Logistics (India) saw a sharp single-day move with the share price rising 11.83% to ₹37.07 from ₹33.15. Its 52-week high was reported at ₹64.51 and 52-week low at ₹28.52, and the stock saw an 11.7x jump in volume on the BSE.

But the company also reported softer operating performance for FY26’s third quarter. Revenue from operations declined to ₹139.0245 crore in Q3 FY26 from ₹160.4664 crore in the same quarter last year. Net profit fell to ₹5.9377 crore from ₹8.4235 crore. Over the nine-month period, total income was ₹415.7237 crore versus ₹428.2904 crore a year earlier, while basic EPS dipped to ₹1.88 from ₹2.00.

The same disclosure set noted quarterly expenses reduced to ₹133.166 crore, while employee benefit costs increased to ₹5.7376 crore and finance costs rose to ₹1.4716 crore from ₹0.9527 crore.

A separate trading update also showed Tiger Logistics shares gaining over 5% on another day following positive quarterly results, with net profit reported at ₹11.97 crore for the September quarter of FY26 and revenue at ₹1,687 crore.

Mahindra Logistics and S J Logistics: profitability turns and micro-cap reactions

Mahindra Logistics reported its first profitable quarter since the third quarter of the 2023 fiscal year. For the quarter ended December 31, it posted consolidated net profit of ₹3.2 crore, recovering from a loss of ₹90.3 crore in the same period last year. The company attributed the turnaround to higher festive-season shipping demand and a profitable performance in its supply chain management division.

S J Logistics (India) shares surged up to 15% after results. Q2 revenue rose 27% year-on-year to ₹157 crore, while net profit increased 43% year-on-year to ₹18.1 crore. The update also cited ROCE of 36.6% and ROE of 31.9%, alongside quarterly EPS of ₹11.85.

Key datapoints at a glance

Market impact: what investors are reacting to

The data points show investors separating companies with steady returns on capital and visible profit delivery from those in transition. Demerger-related periods, as seen in Allcargo’s one-year performance, can coincide with large drawdowns and lower confidence until the new structure is understood.

Meanwhile, consistent return ratios and profit growth, as seen in TCI’s reported ROCE and ROE and its FY26 profit growth, tend to support more stable trading. In express and time-sensitive logistics, Blue Dart’s results and price reaction show how operating leverage can quickly change market sentiment when EBITDA and net profit move up meaningfully.

Why this matters for the logistics sector

Logistics sits at the intersection of consumption, manufacturing, trade, and infrastructure. That creates multiple drivers, but it also means margins and earnings can shift quickly with utilisation, cost control, and route or network efficiency.

The latest set of updates reinforces a practical takeaway for investors tracking the sector: index performance alone is not a sufficient signal. Stock outcomes are being shaped by company-specific execution, profit quality, and structural events such as demergers.

Conclusion

India’s logistics index is outperforming the broader market in 2026, but individual stocks are moving on fundamentals rather than the sector narrative. Recent disclosures show steady performance at TCI, a sharp earnings-led move in Blue Dart, and mixed signals from Tiger Logistics and Allcargo. Investors will be watching upcoming quarterly updates for clearer evidence of sustained profitability, cost discipline, and improved capacity utilisation across the sector.