BlackBuck Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Truck Operator Services: 98.3% • Lending Business: 1.7%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Operating margins have improved to 26.3% from -124.5%
- Working capital cycle has improved - days down from 598 to 278
- Institutional investors have been accumulating - FII+DII up 11.7pp
CONS
- Promoter holding has decreased over last 2 years: -68.9pp
- Recent results are weak - TTM profit is down 73.2% versus prior year
- Company has a low return on equity of -36.5% over last 3 years
- Company has a low return on capital employed of -17.5%
- A large part of profit comes from other income (35.8% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -7.88x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 509.50 | 31.24 | 38804.43 | 1.69 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 450.60 | 360.91 | 33757.46 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 251.35 | 132.02 | 14747.47 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 581.20 | 62.72 | 10587.56 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 868.00 | 14.61 | 6668.94 | 1.15 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 124.75 | 84.99 | 5504.27 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.90 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 402.05 | 103.73 | 3991.45 | 0.62 | 278.30 | 3048.09 | 20028.80 | 1132.85 | 10.40 | 5.76 |
| SINDHUTRAD | 24.89 | 49.59 | 3837.86 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.43 | 10.93 | 2669.60 | 6.08 | 51.27 | -17.56 | 549.30 | -0.21 | 17.99 | 21.31 |
| TCIEXP | 539.65 | 25.16 | 2074.64 | 1.30 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| ALLCARGO | 12.76 | 63.71 | 1911.17 | 0.00 | 140.00 | 241.47 | 5460.00 | 43.06 | 8.70 | 13.00 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 63 | 80 | 93 | 91 | 98 | 113 | 120 | 141 | 149 | 169 | 183 | 201 | |
| 101 | 91 | 180 | 84 | 83 | 83 | 81 | 100 | 112 | 124 | 137 | 175 | |
| Operating Profit | -37 | -11 | -86 | 8 | 14 | 29 | 40 | 41 | 37 | 45 | 46 | 27 |
| OPM % | -58.67% | -13.52% | -92.62% | 8.67% | 14.73% | 25.83% | 32.86% | 29.01% | 24.97% | 26.60% | 25.00% | 13.28% |
| 4 | 11 | 6 | 32 | -315 | -69 | 14 | 16 | 16 | 13 | 12 | 15 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 6 | 6 | 6 | 7 | 7 | 8 | 12 | 9 | 12 | 14 | 17 | 22 |
| Profit before Tax | -40 | -7 | -88 | 32 | -309 | -48 | 42 | 47 | 40 | 43 | 40 | 42 |
| Tax % | -0.00% | -0.00% | -0.00% | 0.00% | -0.00% | -0.00% | -589.73% | 25.85% | 24.38% | 25.14% | -64.86% | -0.81% |
| Net Profit | -40 | -7 | -88 | 32 | -309 | -48 | 286 | 35 | 31 | 32 | 66 | 42 |
| -2.16 | -1.07 | -4.75 | 1.76 | -19.68 | -2.81 | 15.69 | 1.92 | 1.68 | 1.78 | 3.60 | 2.29 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 564 | 889 | 1,791 | 2,230 | 853 | 767 | 176 | 296 | 422 | 641 | 701 | |
| 645 | 997 | 2,097 | 2,644 | 1,046 | 1,050 | 414 | 463 | 331 | 472 | 547 | |
| Operating Profit | -81 | -109 | -306 | -414 | -192 | -283 | -239 | -166 | 91 | 169 | 154 |
| OPM % | -14.45% | -12.22% | -17.10% | -18.58% | -22.53% | -36.90% | -135.84% | -56.11% | 21.61% | 26.32% | 22.02% |
| 3 | 13 | 12 | 54 | 27 | 36 | 20 | 27 | -338 | 57 | 56 | |
| Interest | 8 | 20 | 48 | 76 | 57 | 31 | 4 | 3 | 3 | 3 | 3 |
| Depreciation | 1 | 1 | 3 | 9 | 11 | 15 | 20 | 25 | 34 | 52 | 66 |
| Profit before Tax | -87 | -117 | -345 | -446 | -234 | -293 | -243 | -168 | -283 | 171 | 165 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 86.36% | 4.15% | -3.28% |
| Net Profit | -87 | -117 | -345 | -446 | -234 | -293 | -243 | -168 | -39 | 164 | 171 |
| EPS | -8411.00 | -11328.00 | -33485.00 | -22759.45 | -22759.00 | -8345.00 | -16.23 | -16753.40 | -2.18 | 9.01 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 23%
- 5 Years:
- -6%
- 3 Years:
- 54%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -6%
RETURN ON EQUITY
- 10 Years:
- -65%
- 5 Years:
- -57%
- 3 Years:
- -36%
- Last Year:
- 13%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18 | 18 |
| 303 | 187 | 431 | 457 | 217 | 432 | 135 | 153 | 1,074 | 1,358 | |
| 87 | 263 | 528 | 551 | 399 | 190 | 176 | 180 | 11 | 39 | |
| Trade Payables | 7 | 17 | 39 | 21 | 16 | 18 | 16 | 15 | 17 | 37 |
| 9 | 22 | 330 | 114 | 144 | 245 | 327 | 301 | 34 | 15 | |
| Total Liabilities | 407 | 489 | 1,328 | 1,143 | 776 | 884 | 654 | 648 | 1,155 | 1,468 |
| 2 | 4 | 8 | 23 | 15 | 21 | 31 | 39 | 45 | 116 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| 0 | 9 | 261 | 305 | 56 | 243 | 222 | 75 | 109 | 197 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 28 | 26 | |
| Cash & Bank | 227 | 159 | 474 | 192 | 226 | 180 | 160 | 328 | 662 | 526 |
| 178 | 317 | 586 | 622 | 479 | 440 | 241 | 185 | 311 | 600 | |
| Total Assets | 407 | 489 | 1,328 | 1,143 | 776 | 884 | 654 | 648 | 1,155 | 1,468 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -173 | -215 | -476 | -420 | -50 | -80 | -128 | 58 | 85 | 192 | |
| Cash from Investing | -146 | 105 | -274 | -22 | 182 | -216 | 169 | 11 | -476 | -210 |
| Cash from Financing | 302 | 115 | 1,060 | 173 | -213 | 272 | -27 | -18 | 361 | -5 |
| -23 | -6 | 294 | -287 | 27 | -19 | 17 | 51 | -31 | -22 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - BLACKBUCK LIMITED has informed the Exchange about Schedule of meet
2026-08-27 - BLACKBUCK LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-08-26 - BLACKBUCK LIMITED has informed the Exchange about Letter to shareholders who have not registered email address
2026-08-25 - BLACKBUCK LIMITED has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the financial year ended March 31, 2026'.
2026-08-25 - BLACKBUCK LIMITED has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026
2026-08-25 - BLACKBUCK LIMITED has informed the Exchange regarding Allotment of 17143 Shares.
2026-08-22 - BLACKBUCK LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - BLACKBUCK LIMITED has informed the Exchange about Schedule of meet
2026-08-03 - BLACKBUCK LIMITED has informed the Exchange about Transcript
News
Recent coverage and analyst commentary for BLACKBUCK
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