Jayesh Logistics has secured a confirmed work order valued at Rs 26.88 crore from Steel Authority of India Limited (Central Marketing Organisation, Eastern Region) for the transportation of steel by road.

Order Details and Contract Terms

The order was disclosed to the exchange on September 30, 2026, with an order date of September 29, 2026. It is classified as significant under SEBI LODR norms. The contract is for a duration of 2 years and covers the transportation of steel under Long-Term Transportation Contract (LTC-26).

The specific terms include:

• Schedule 8: Transportation from IISCO Steel Plant to Delhi for 2,000 MT at Rs. 3,320/MT.
• Schedule 10: Transportation from IISCO Steel Plant to Visakhapatnam for 2,000 MT at Rs. 2,280/MT.

Freight is calculated on a per-ton basis. The quantities are indicative, with an option clause allowing for ±50% variation in quantity or duration. A security deposit of Rs. 15,00,000 is required, and payment terms stipulate settlement within 30 days. The transaction is not a related party transaction, and there is no promoter interest involved.

Company Order Track Record

The company has disclosed two significant orders in the last three fiscal quarters. The table below summarizes the order inflow for Q2FY27 (Jul-Sep 2026), incorporating the latest SAIL order alongside the previously reported Dalmia Cement order.

The Rs 26.88 crore SAIL order constitutes approximately 70% of the total disclosed order book for the last three quarters. This indicates a concentration of revenue potential from a single large client within the recent period.

Financial Context and Valuation

As of September 30, 2026, the company had a market capitalization of ₹107.73 Cr. The trailing twelve-month consolidated revenue is reported as 0.0 Cr in the provided context, preventing the calculation of standard book-to-bill ratios using TTM metrics. However, the absolute value of the new order is substantial relative to the company's SME classification.

Standalone revenue growth for FY26 was recorded at +15.7%, while profit growth stood at +39.6%. Return on Capital Employed (ROCE) for FY26 was 20.06%, and Return on Equity (ROE) was 19.33%. The Price-to-Book ratio was 2.08x as of the same date.

Execution Considerations

Working capital management will be critical given the security deposit requirement of Rs. 15,00,000 and the 30-day payment cycle. Balance sheet and cashflow data required to assess liquidity ratios and operating cashflow trends are not provided in the current input. Consequently, trends in backlog conversion rates and margin quality cannot be fully assessed from quarterly P&L statements at this time.

Key Observations

• Client Concentration: The Steel Authority of India Limited order accounts for a majority of the recent order inflow, indicating high dependence on this entity for near-term revenue visibility.
• Contract Structure: Revenue recognition for the SAIL order will occur over the 2-year term as transportation services are executed.
• Valuation Metrics: The P/E ratio is listed as 0.0x against an ROCE of 20.06%, reflecting the current market pricing relative to audited return ratios.

Jayesh Logistics has secured a work order worth ₹11.20 crore from Dalmia Cement (North East) Limited to transport cement, clinker, fly ash, coal, and other raw materials. The contract, valid from July 15, 2026, to October 31, 2027, covers logistics operations from the client's manufacturing facility in Lanka, Nagaon, Assam, to various designated locations.

Contract Scope and Terms

The agreement entrusts Jayesh Logistics with end-to-end logistics services, including fleet deployment, manpower management, and adherence to safety standards. Payments will be based on actual tonnage transported in accordance with the customer's billing cycles. The contract includes standard performance requirements and penalties for delays or non-compliance, along with provisions for the customer to modify or terminate the agreement based on operational needs.

Key Contract Details

The disclosure was made to the National Stock Exchange of India Limited on July 16, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.