East West Freight Carriers Ltd conducted its 45th Annual General Meeting on September 30, 2026, via video conferencing. The meeting commenced at 11:23 am after a brief delay to ensure quorum. Key agenda items included the approval of FY26 financial statements and the reappointment of statutory auditors.

The Board reported a return to profitability in Q1FY27, contrasting with the geopolitical challenges faced during FY26. Management outlined a strategic focus on technology integration, digital automation, and expansion into high-margin international business segments.

Resolutions Passed

Shareholders passed all resolutions proposed in the notice convening the meeting. The following ordinary and special resolutions were approved:

Governance and Attendance

Mr. Ajaz Shafi Mohammed, Managing Director & CEO, chaired the meeting. Due to his interest in Item No. 5 regarding his own remuneration, he stepped down from the chair for that specific agenda item. Mr. Suresh Menon, Executive Director, presided over the discussion for that resolution before Mr. Mohammed resumed the chair.

A total of 34 shareholders attended the virtual meeting. The remote e-voting facility provided by NSDL was active from September 27, 2026, to September 29, 2026. CS Nuren Lodaya served as the scrutinizer for the voting process.

East West Freight Carriers Limited reported a consolidated net loss of ₹3.75 crore for the financial year ended March 31, 2026, compared to a profit of ₹1.52 crore in the previous year. The shift to losses was driven by a significant contraction in revenue and rising finance costs amidst global logistical challenges.

Consolidated revenue from operations declined 29% YoY to ₹201.63 crore, down from ₹285.35 crore in FY25. The company attributed this top-line pressure to external macro factors, including new US tariff policies that delayed overseas shipments and supply chain disruptions stemming from conflicts in the Middle East, which inflated global shipping times and costs.

Financial Performance Overview

The standalone performance mirrored the consolidated trend, with the company recording a net loss of ₹4.62 crore against a profit of ₹0.63 crore in FY25. Standalone revenue stood at ₹181.73 crore, reflecting a similar downward trajectory due to reduced volumes in air and ocean freight segments.

Operational Headwinds and Cost Pressures

Management highlighted that while operating profit remained positive before interest, the final bottom line was impacted by fixed debt-servicing costs and temporary geopolitical freight cost escalations. Finance costs remained elevated at ₹7.96 crore, closely tracking the previous year's ₹8.03 crore, indicating persistent leverage despite lower revenue generation.

The company noted that core domestic demand foundations remained intact, but international trade frictions and route realignments created a transient volume decline. The board views these impacts as non-structural, expecting stabilization as trade routes normalize.

What the Numbers Show

A critical divergence is visible between the sharp 29% decline in revenue and the relatively flat finance costs. While revenue contracted significantly, the company's debt burden did not decrease proportionally, leading to a higher effective cost of debt relative to earnings. This imbalance exacerbated the swing from profit to loss, as fixed financial obligations consumed a larger share of the shrinking operating surplus.

Strategic Outlook and Recovery Signals

Despite the FY26 setback, management pointed to early signs of recovery in the first quarter of FY27. For the quarter ended June 30, 2026, consolidated revenue stood at approximately ₹45.56 crore. More notably, the company returned to a positive consolidated bottom line in Q1FY27, driven by improved operating profitability and margin discipline.

Key strategic priorities for the coming period include:

• Restoring sustainable profitability through operational discipline.
• Strengthening cash flows and reducing financing costs.
• Accelerating technology adoption and AI integration for efficiency.
• Exploring high-margin merchant trading opportunities alongside core logistics services.

The company has also secured admission for dealing its securities on the National Stock Exchange (NSE) under the 'Permitted to Trade' category, aiming to broaden its investor base and enhance liquidity.