Tiger Logistics (India) Limited has successfully completed its postal ballot process for the re-appointment of Mr. Harpreet Singh Malhotra (DIN: 00147977) as Chairman & Managing Director and fulfilled its regulatory compliance obligations by submitting newspaper clippings to stock exchanges.

Postal Ballot Results and Shareholder Participation

The postal ballot witnessed significant shareholder participation, with detailed voting results across different categories. The company had 25757 total shareholders on the record date of 20th February, 2026. The voting process concluded on 25th March, 2026 at 5:00 p.m., with shareholders demonstrating overwhelming support for the special resolution.

Category-wise Voting Breakdown

The voting pattern across different shareholder categories revealed strong support from all segments. Promoter and promoter group participation was particularly notable, with 57.87% of their holdings being voted.

Scrutinizer's Report and Process

The postal ballot process was conducted under the supervision of Manoj Kumar Jain, a practicing Company Secretary from AMJ & Associates, who was appointed as scrutinizer by the Board of Directors. The scrutinizer was appointed on 12th February, 2026, and issued his report on 26th March, 2026.

Regulatory Compliance and Stock Exchange Submissions

Following the successful completion of the postal ballot, Tiger Logistics fulfilled its regulatory obligations by submitting newspaper clippings to both BSE Limited and National Stock Exchange of India Limited on 27th March 2026. The submission was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The postal ballot was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014, Regulation 30 and 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI (Depositories and Participants) Regulations, 2018, and Secretarial Standard on General Meetings (SS-2) issued by ICSI. The successful completion ensures continuity in the company's leadership structure with the re-appointment of Mr. Harpreet Singh Malhotra as Chairman & Managing Director.

Tiger logistics delivered strong operational performance in Q3 FY26, showcasing remarkable resilience amid challenging market conditions. The company's earnings conference call, held on February 20, 2026, revealed significant volume growth despite geopolitical headwinds affecting international trade.

Strong Volume Performance Drives Growth

The company achieved impressive volume metrics during the quarter, demonstrating the effectiveness of its diversification strategy across multiple business verticals.

Chairman and Managing Director Harpreet Singh Malhotra highlighted that the volume growth occurred despite turbulent conditions in export businesses due to US tariffs and overall geopolitical situations, particularly affecting the Gulf region and EXIM business operations.

TiGreen Vertical Emerges as Key Growth Engine

The company's renewable energy logistics vertical, TiGreen, has established itself as a dominant revenue contributor. The division focuses primarily on solar sector logistics and has positioned Tiger Logistics among the top five to seven service providers in solar sector logistics.

Solar Sector Expansion

• Strong performance in renewable and solar panel logistics
• Significant market penetration with specialized handling capabilities
• Increased hiring to build specialized bench strength
• Anticipated growth from upcoming solar company CAPEX investments

Malhotra expressed optimism about the coming quarters, noting that solar companies are planning substantial capital expenditure over the next two quarters, involving significant imports of plants and machinery.

Revenue Impact from Market Conditions

While volume growth remained strong, the company experienced a slight decline in top-line revenue. This decrease was attributed to historically low freight rates during the quarter, which directly impacts revenue in Tiger Logistics' cost-plus business model.

Freight Rate Challenges

• Lowest freight levels experienced in recent years
• Direct correlation between freight rates and revenue in cost-plus model
• Revenue fluctuations expected due to market freight variations
• Volume growth remains the key business penetration indicator

Business Diversification Strategy

The company has successfully reduced dependence on particular sectors through strategic diversification across multiple verticals.

Key Business Segments

Regional Expansion and Sector Penetration

Tiger Logistics expanded its pharmaceutical sector presence through a strategic office opening in the upper north region six months prior to the quarter. This expansion covers the pharmaceutical corridor of Punjab, Haryana, and Himachal Pradesh, generating substantial container exports to various global destinations in pharmaceutical and chemical sectors.

CUBOX LCL Business Development

The company's Less than Container Load (LCL) business, CUBOX, completed its first year of operations. While achieving break-even status, the vertical has not yet reached initial expectations.

CUBOX Performance Highlights

• Break-even achieved within first operational year
• B2B model serving small and medium freight forwarding companies
• Longer development timeline expected for LCL model maturation
• Potential for better margins as business scales

Future Growth Outlook

Management expressed confidence about upcoming quarters, citing several positive factors including potential resolution of US trade issues and tariff matters. The company maintains a focused approach on strengthening existing successful verticals before expanding into new business areas.

Strategic Priorities

• Continued focus on solar and renewable energy logistics
• Deep market penetration in established verticals
• Selective approach to new business development
• Maintenance of strong financial hygiene and receivables management

The company remains open to inorganic growth opportunities through acquisitions of international logistics companies, though suitable acquisition targets have not yet been identified. Tiger Logistics maintains its focus exclusively on international freight forwarding and logistics, avoiding domestic logistics operations.