Neptune Logitek Ltd has acquired a 100% stake in Neptune Cargo Services Private Limited to expand its logistics operations. The transaction was completed on September 16, 2026.

Neptune Logitek acquired the target entity at face value. The company disclosed the acquisition under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Details

The listed entity acquired 1,00,000 equity shares of Rs. 10 each. This represents the entire paid-up equity share capital of the target company. The consideration was paid in cash or bank transfer.

Strategic Rationale

The acquisition aligns with the company's strategy to invest in the logistics business. Neptune Cargo Services is a newly incorporated entity. It will provide freight forwarding services through sea, rail, and road networks.

Corporate Governance

The transaction is classified as a related-party transaction. Neptune Cargo Services becomes a wholly owned subsidiary of the listed entity. The following directors of Neptune Logitek also serve as directors in the acquired company:

• Mr. Ankit Devidas Shah
• Mrs. Reema Ankit Shah
• Mr. Nikunj Dhansukhbhai Damani

The company stated that the transaction was conducted on an arm's length basis. No governmental or regulatory approvals were required for this acquisition.

Neptune Logitek Limited reported a net profit decline of 5.7% in FY26. The company has scheduled its 14th Annual General Meeting for September 21, 2026, to approve an expansion into information technology solutions.

The Board approved the Director's Report on August 20, 2026. The AGM notice was issued on August 26 and published in English and Gujarati newspapers on August 27, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Revenue from operations fell 9.1% to ₹23,371.10 lakh, driven by lower domestic forwarding income. However, export revenue grew 29.5% to ₹5,544.72 lakh. Total expenses decreased 8.97% to ₹22,539.40 lakh, aiding margin stability despite revenue contraction.

Export income rose significantly to ₹5,544.72 lakh from ₹4,282.39 lakh, while domestic revenue dropped to ₹17,826.38 lakh from ₹21,443.00 lakh. Profit before tax increased marginally by 1.17% to ₹995.27 lakh, supported by cost controls and lower depreciation charges following a change in accounting policy.

Meeting Details and Voting

The 14th AGM will be held at 3:30 pm at the registered office in Gandhidham, Gujarat. The cut-off date for shareholder entitlements is September 11, 2026. Remote e-voting will run from September 17 to September 20, 2026. Members can opt for only one mode of voting, i.e., e-voting or poll paper. In case members cast their votes through both modes, voting done by e-voting shall prevail.

Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, the Company has sent a letter providing a web-link of the Annual Report 2025-26 to those Members who have not registered their e-mail addresses with the Company /RTA/Depositories. The Annual Report is also available on the Company's website.

Key Agenda Items

Shareholders will vote on ordinary and special business items:

• Adoption of Financials: Approval of audited financial statements for FY26.
• Director Reappointment: Reappointment of Mr. Ankit Devidas Shah, who retires by rotation.
• Independent Director Appointment: Appointment of Mr. Rushabh Anilkumar Shah as Non-Executive Independent Director for five years.
• MoA Amendment: Expansion of the object clause to include software, mobile applications, cloud-based solutions, and IT-enabled services for logistics industries.

What the Numbers Show

The divergence between declining domestic revenue and growing export income highlights a shift in Neptune Logitek's operational focus. While domestic forwarding income fell to ₹16,654.24 lakh from ₹21,382.50 lakh, export services nearly grew by 30%. This suggests the company is gaining traction in international logistics despite broader domestic slowdowns. Additionally, the drop in EPS to ₹4.59 was partly dilutive due to the increase in equity shares from 1 crore to 1.37 crore following the IPO.

Capital Expenditure and Investments

The company utilized IPO proceeds primarily for capital expenditure, acquiring machinery worth ₹3,387.30 lakh against an allocation of ₹3,394.15 lakh. It also made non-current investments of ₹600 lakh in optionally convertible debentures of Blithwill Global Warehousing and Blithwill Global Infraventures.