Rapid Multimodal Logistics Limited shareholders approved the reappointment of Manoj Goel as Executive Director at the company's 6th Annual General Meeting held on September 29, 2026. The meeting also adopted audited financial statements for the fiscal year ended March 31, 2026.

The meeting commenced at 11:00 am with the requisite quorum present under the Companies Act, 2013. A total of 10 members attended the session in person. Summit Agarwal was elected as the Chairperson of the meeting following a proposal by Executive Director Manoj Goel.

The Chairperson confirmed that the notice convening the meeting, along with the Statutory Auditor's Report and Secretarial Audit Report, had been circulated to all members and were taken as read during the proceedings.

Resolutions passed

Members voted on three primary agenda items, utilizing both remote e-voting facilities and physical ballot voting at the venue. The resolutions addressed the following matters:

• Adoption of Financial Statements: Approval of the audited annual financial statements, statement of assets and liabilities, and auditor's report for FY26.
• Directors' Report: Adoption of the Directors' Report and Management Discussion and Analysis Report for FY26.
• Director Re-appointment: Appointment of a director in place of Manoj Goel (DIN: 06944326), who retired by rotation and offered himself for re-appointment.

Director appointment details

The reappointment of Manoj Goel was formalized pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details disclosed regarding this event are outlined below:

Voting mechanism and conclusion

The company provided remote e-voting facilities to ensure broad shareholder participation. Members who had not exercised their rights electronically were permitted to vote via the facility provided at the meeting. An appointed scrutinizer was tasked with verifying the votes and submitting a report in accordance with regulatory requirements.

The meeting concluded at 11:38 am after all business items set out in the notice were transacted. The Board expressed appreciation to shareholders for their continued confidence in the company.

Rapid Multimodal Logistics Limited reported a 39% year-on-year increase in revenue for FY26, reaching ₹1,301.9 crore. Despite the strong top-line growth, net profit for the period declined by 17% to ₹18.86 crore, reflecting higher operational costs and working capital pressures.

The company submitted its sixth annual report for the financial year ended March 31, 2026, on September 5, 2026. The filing highlights continued expansion in its integrated logistics solutions across road, rail, and coastal shipments.

Financial Performance

Revenue from operations grew significantly from ₹1,029.9 crore in FY25 to ₹1,301.9 crore in FY26. This growth was accompanied by a rise in total expenses, which increased from ₹1,000.5 crore to ₹1,407.2 crore. The cost of services provided rose by 41% to ₹1,366.4 crore, slightly outpacing revenue growth and compressing margins.

Other income increased to ₹22.9 crore from ₹8.3 crore in the previous year, primarily driven by interest income. However, this was insufficient to offset the decline in operating profitability. Profit before tax fell to ₹25.27 crore from ₹30.26 crore.

What the Numbers Show

A key divergence in the financials is the expansion of trade receivables relative to revenue. Trade receivables grew by 25% to ₹150.9 crore, while revenue grew by 39%. This suggests that while sales volumes increased, collection efficiency may have lagged, tying up more cash in outstanding invoices. Additionally, unbilled revenue stood at ₹23.5 crore, up from ₹13.7 crore in FY25, indicating a larger portion of services rendered but not yet invoiced at year-end.

Balance Sheet and Cash Flow

The company maintained a debt-free balance sheet with no short-term or long-term borrowings. Shareholders' funds increased to ₹161.1 crore from ₹142.3 crore. Current assets stood at ₹218.0 crore, against current liabilities of ₹59.7 crore, resulting in a current ratio of 3.65, down from 4.31 in FY25.

Cash flows from operating activities turned positive, generating ₹25.7 crore compared to an outflow of ₹90.1 crore in FY25. This improvement was driven by better management of trade payables, which increased by ₹19.0 crore. However, investing activities consumed ₹248.1 crore, largely due to fixed deposits and other investments.

Corporate Governance

The Board of Directors remains unchanged, with Narayan Agarwal serving as Managing Director. The company held four board meetings during the year, with full attendance from all directors. The Audit Committee also met four times. No dividends were declared or proposed for FY26.

The company continues to operate as a single business segment focused on multimodal logistics. It reported no related-party transactions on a non-arm's length basis. Statutory auditors Jay Gupta & Associates issued an unqualified opinion on the financial statements.