BlackBuck Limited has scheduled its 11th Annual General Meeting for Friday, September 18, 2026 at 11:30 a.m. (IST) via Video Conferencing, alongside releasing its Annual Report for FY 2025-26 showing consolidated total income of ₹714.60 Cr — up 55% YoY.

AGM Details and E-Voting Schedule

The AGM will be conducted through Video Conference / Other Audio Visual Means in compliance with the Companies Act, 2013 and MCA General Circular No. 03/2025 dated September 22, 2025. KFin Technologies Limited has been appointed as the e-voting agency. The cut-off date for determining eligible voters is Friday, September 11, 2026.

The Notice and Annual Report for FY 2025-26 have been sent electronically to members whose names appeared in the register of beneficial owners as on Friday, August 21, 2026.

FY26 Financial Snapshot

BlackBuck reported its first full year of PAT-level profitability in FY 2025-26. The consolidated financial highlights are summarised below.

EBITDA of ₹166.76 Cr represents a 79% YoY increase. The company also reported 818,259 average monthly transacting truck operators, up 13% YoY, and 411,765 users engaging with two or more services, up 21% YoY.

Standalone and Consolidated Financial Performance

The Board Report highlights the following key standalone performance metrics for FY 2025-26 versus FY 2024-25 (all figures in ₹ Million).

Standalone revenue from operations grew 51.91% YoY to ₹6,409.77 million in FY26 from ₹4,219.39 million in FY25. Total standalone income grew 53.45% YoY.

AGM Agenda

The 11th AGM will transact the following business:

Ordinary Business:

• Adoption of Audited Standalone and Consolidated Financial Statements for FY 2025-26
• Re-appointment of Mr. Anand Daniel (DIN: 03441515), Non-Executive Nominee Director, who retires by rotation

Special Business:

• Approval of charges for service of documents under Section 20 of the Companies Act, 2013
• Re-classification of authorised share capital and consequent alteration to the Memorandum of Association — cancelling unissued preference share capital and reallocating to equity share capital, resulting in revised authorised capital of ₹39,50,00,000 divided into 39,50,00,000 equity shares of ₹1/- each
• Approval to implement ESOP 2016 and ESOP 2019 through an irrevocable employee welfare trust, 'BlackBuck Limited ESOP Trust'
• Approval to provide a loan not exceeding ₹1,00,00,000 (or 5% of aggregate paid-up capital and free reserves as per latest audited financials, whichever is lower) to the ESOP Trust for acquisition of shares

Capital Structure and IPO Proceeds

The paid-up share capital as at March 31, 2026 stood at ₹18,17,96,612, divided into 18,17,96,612 fully paid-up equity shares of ₹1/- each. Funds unutilised from the IPO proceeds as on March 31, 2026 amounted to ₹1,056.39 million, with no deviation reported in utilisation.

Key Milestones

The company changed its legal name from Zinka Logistics Solutions Limited to BlackBuck Limited with effect from August 20, 2025. The registered office was also changed to Koramangala, Bengaluru with effect from May 19, 2026.

BlackBuck has filed its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, with the National Stock Exchange and BSE Limited. The report, signed by Company Secretary Barun Pandey on August 25, 2026, discloses a total turnover of ₹6,409.77 crore for the standalone entity.

The logistics technology platform reported operating from six offices across India, serving customers in 28 states. Land transport via road accounted for 91.29% of the company's turnover. The report highlights the company's focus on digitising payments, telematics, load discovery, and vehicle financing for truck operators.

Workforce and Human Capital

As of March 31, 2026, BlackBuck employed a total of 3,652 individuals. This includes 1,613 permanent employees and 2,039 non-permanent employees. The workforce is predominantly male, constituting 91% of the total headcount, while female employees make up 9%.

The company reported a permanent employee turnover rate of 48.40% for FY26, an increase from 40% in the previous financial year. Female representation on the Board of Directors stands at 12.50% (one out of eight directors), with no female representation among Key Management Personnel.

Environmental Disclosures

BlackBuck disclosed total energy consumption from non-renewable sources at 3,524.22 GJ for FY26, up from 1,821.98 GJ in FY25. The company attributes this increase primarily to the opening of new offices. Scope 2 greenhouse gas emissions rose to 695.05 metric tonnes of CO2 equivalent, compared to 359.335 metric tonnes in the prior year. Scope 1 emissions remained nil.

Water withdrawal increased significantly to 6,385.68 kilolitres from 17.862 kilolitres in FY25. The report notes that current year data includes consumption of groundwater and sewage water, whereas the previous year's data pertained only to third-party drinking water. Total waste generated was 37.58 metric tonnes, including 1.08 metric tonnes of e-waste.

Governance and Risk Management

The report identifies several material risks, including economic cycles impacting freight demand, competition from technology platforms, and cybersecurity threats. BlackBuck stated it maintains strict adherence to RBI regulations applicable to its financial services business.

Customer complaints totaled 1,040 during the year, with 131 pending resolution at year-end. No complaints were recorded regarding sexual harassment, discrimination, or child labour. The company confirmed it is not obligated to incur CSR expenditure under Section 135 of the Companies Act, 2013, as its average net profit over the preceding three years was negative.

What the Numbers Show

The divergence between revenue growth and energy intensity warrants attention. While revenue grew from ₹4,219.39 crore in FY25 to ₹6,409.77 crore in FY26, energy intensity per rupee of turnover adjusted for Purchasing Power Parity (PPP) increased from 0.00000890 to 0.0000112. This suggests that the expansion into new office locations has outpaced operational efficiency gains in energy usage relative to top-line growth. Additionally, the high employee turnover rate of 48.40% indicates significant churn within the permanent workforce compared to the previous year's 40%.