Black Buck , a leading logistics technology platform, has reported a significant financial turnaround in its Q2 FY2026 results, marking a substantial improvement from the previous year. The company's performance highlights its growing strength in the logistics technology sector.

Key Financial Highlights

• Net Profit: BlackBuck posted a net profit of 305.00 million rupees for Q2 FY2026, a remarkable turnaround from a loss of 2,690.00 million rupees in the same quarter last year.
• Revenue: The company's revenue grew to 1,490.00 million rupees, up from 976.00 million rupees year-over-year, representing a 52.66% increase.
• EBITDA: There was a substantial increase in EBITDA to 371.20 million rupees from 143.70 million rupees in the previous year.
• EBITDA Margin: The EBITDA margin improved significantly to 24.91% from 14.72% in the same period last year.

Operational Performance

BlackBuck's strong financial results are underpinned by robust operational metrics:

• Transacting Customers: The company reported 791,670 transacting customers, a 13.22% increase year-over-year.
• Multi-Service Users: Users utilizing two or more services grew by 21.17% to 399,051.
• Daily App Usage: The average time spent on the BlackBuck app by transacting customers increased to 43.19 minutes daily.
• Payments GTV: The Gross Transaction Value (GTV) of payments reached 677,832.00 million rupees, up 28.65% year-over-year.

Business Segment Performance

Core Businesses (Payments & Telematics)

• Grew by 36.68% year-over-year
• Showed approximately 3% growth quarter-on-quarter, despite being a traditionally low-season quarter
• Tolling and Telematics businesses continued their growth trajectory

Growth Businesses

• Experienced strong growth of 226.13% year-over-year and 19.01% quarter-on-quarter
• Led by significant progress in 'Superloads' and 'Vehicle Finance' businesses
• Plans to expand Superloads to 10 new cities in the next 6 months

Strategic Focus

BlackBuck is balancing growth and profitability by:

1. Focusing on continuous market share expansion in core businesses
2. Leveraging industry tailwinds for consistent growth
3. Maintaining strong profitability through operating leverage
4. Aggressively scaling up new ventures like Superloads
5. Expanding sales teams and investing in high-growth sub-segments

Management Commentary

Rajesh Kumar Naidu Yabaji, Chairman, Managing Director, and CEO of BlackBuck, stated, "Our Q2 results demonstrate BlackBuck's ability to deliver consistent profitability while achieving strong scale-up in new business areas. We're particularly pleased with the performance of our core businesses, which continue to compound on profitability, allowing us to invest strategically in promising new ventures."

Future Outlook

BlackBuck plans to continue its growth trajectory by:

• Doubling down on the Superloads business
• Expanding sales teams
• Investing in high-growth sub-segments of core businesses (Fuel Sensor, AIS-GPS)
• Pursuing a partner-led calibrated scale-up of Vehicle Finance

The company's strong Q2 performance and strategic initiatives position it well for sustained growth and profitability in the logistics technology sector.

Black Buck , formerly known as Zinka Logistics Solutions Limited, has reported no deviation from the stated objectives of its Initial Public Offering (IPO) for the second quarter of fiscal year 2026. The company's monitoring agency report, prepared by ICRA Limited, confirms that the utilization of IPO proceeds remains in line with the disclosed objectives.

IPO Proceeds Allocation

BlackBuck raised Rs. 550.00 crore through its IPO in November 2024. The proceeds were allocated as follows:

Utilization of Funds

As of September 30, 2025, the company has utilized Rs. 121.19 crore for general corporate purposes. This includes:

• Loan repayments
• Salary payments
• Issue-related expenses

Monitoring and Approval

The monitoring report was reviewed by the Audit Committee and approved by the Board on November 5, 2025. ICRA Limited, appointed as the monitoring agency, has confirmed that the utilization of issuance proceeds aligns with the objectives stated in the IPO prospectus.

Company Performance

In addition to the IPO proceeds report, BlackBuck Limited has released its financial results for Q2 FY2026:

• Total Income: Rs. 167.20 crore (60.35% YoY growth)
• EBITDA: Rs. 36.52 crore (142.84% YoY growth)
• PAT: Rs. 29.20 crore

The company has shown growth in its core businesses and new ventures:

• Core businesses grew by 36.68% YoY
• Growth businesses expanded by 226.13% YoY and 19.01% QoQ

BlackBuck's performance demonstrates profitability and scale-up of new business areas, particularly in the 'Superloads' and 'Vehicle Finance' segments.

The company continues to focus on market share expansion, leveraging industry tailwinds, and maintaining profitability through operating leverage in its core businesses while investing in growth areas.