Jet Freight Logistics Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, pursuant to Regulation 33 of SEBI Listing Regulations. The freight forwarding company's Board of Directors approved the results at their meeting held on February 2, 2026, demonstrating mixed performance with revenue growth offset by declining quarterly profitability.

Quarterly Financial Performance

The company's Q3FY26 performance showed contrasting trends in revenue and profitability metrics. While the top line demonstrated robust growth, bottom line results reflected operational challenges.

Other income for the quarter increased to ₹77.12 lakhs from ₹55.30 lakhs in the corresponding period of the previous year. Total comprehensive income for Q3FY26 stood at ₹108.65 lakhs compared to ₹158.93 lakhs in Q3FY25.

Nine-Month Performance Analysis

The nine-month results presented a more balanced picture, with the company maintaining steady performance across key financial parameters.

For the nine-month period, other income significantly increased to ₹281.05 lakhs from ₹94.31 lakhs in the previous year, contributing to overall income stability despite lower operational revenue.

Expense Structure and Operational Metrics

The company's expense management reflected the challenges faced during the quarter. Operational expenses increased to ₹10,219.75 lakhs in Q3FY26 from ₹8,324.51 lakhs in Q3FY25. Employee benefits expense rose to ₹499.68 lakhs compared to ₹483.88 lakhs in the previous year quarter.

The company's profit before tax for the quarter stood at ₹230.39 lakhs compared to ₹248.56 lakhs in Q3FY25.

Consolidated Results and Tax Position

The consolidated financial results showed similar trends, with revenue from operations at ₹11,319.88 lakhs for Q3FY26 versus ₹9,447.17 lakhs in Q3FY25. Consolidated net profit after tax reached ₹108.09 lakhs compared to ₹175.22 lakhs in the corresponding quarter of the previous year.

The company's current tax expense for Q3FY26 was ₹67.21 lakhs, while deferred tax stood at ₹55.38 lakhs. The paid-up equity share capital remained unchanged at ₹2,320.19 lakhs with a face value of ₹5.00 per share.

Corporate Governance and Regulatory Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors on February 2, 2026. The company operates in a single line of business - freight forwarding - and has adopted the new tax regime under the Income-tax Act, 1961. The results were prepared in accordance with Indian Accounting Standards and SEBI listing regulations, with limited review reports issued by statutory auditors Ajay Shobha & Co. The meeting commenced at 1:30 p.m. and concluded at 2:35 p.m., with all regulatory requirements fulfilled under Regulation 33 of SEBI Listing Regulations.

Jet Freight Logistics Limited has announced an Extra-Ordinary General Meeting (EGM) scheduled for February 20, 2026, seeking shareholder approval for a significant warrant issuance under Regulation 30 of SEBI Listing Regulations. The meeting will be conducted through video conference at 11:30 AM (IST) to discuss the preferential allotment of convertible warrants.

Warrant Issuance Details

The company proposes to issue up to 4,26,32,750 convertible warrants at ₹18 per warrant, aggregating to ₹76,73,89,500. These warrants will be convertible into equity shares with a face value of ₹5.00 each at a premium of ₹13 per share within 18 months from the date of allotment.

Allottee Distribution

The warrant issuance includes both promoter group and non-promoter category investors. The promoter group allocation comprises three members from the Theknath family, while the remaining warrants will be distributed among 81 non-promoter investors including individuals and corporate entities.

Key Promoter Group Allottees:

• Tyra Richard Theknath: 74,13,333 warrants
• Tyrus Richard Theknath: 74,13,333 warrants
• Thea Richard Theknath: 74,13,334 warrants

Major Non-Promoter Allottees:

• Alphacap Advisors Private Limited: 33,00,000 warrants
• Alphacap Corporate Services Private Limited: 17,50,000 warrants
• Pankaj Lachhman Khatwani: 10,00,000 warrants
• Shrawan Kumar Babulal Jajodia: 10,00,000 warrants

Pricing and Valuation

The warrant pricing has been determined in accordance with SEBI (ICDR) Regulations. The relevant date for price calculation is January 21, 2026, being 30 days prior to the EGM date. The floor price based on volume weighted average price calculations is ₹17.62 per equity share, making the proposed issue price of ₹18 per warrant compliant with regulatory requirements.

Use of Proceeds

The company intends to utilize the proceeds from the warrant issuance for:

• Working capital requirements
• Repayment and/or prepayment of existing borrowings
• General corporate purposes

Shareholding Impact

Post-conversion of all warrants, the company's shareholding pattern will see the promoter group holding increase to 51.51% from the current 50.92%. The total number of equity shares will expand to 8,90,36,534 from the existing 4,64,03,784 shares.

Meeting and Voting Details

The EGM notice has been dispatched to shareholders and is available on the company's website. Shareholders can participate through video conference and cast their votes electronically. The remote e-voting period will commence on February 17, 2026 at 9:00 AM and conclude on February 19, 2026 at 5:00 PM. The cut-off date for determining eligible shareholders is February 13, 2026.

The warrant allotment, subject to shareholder approval, must be completed within 15 days of passing the special resolution. The warrants will be subject to lock-in provisions as per SEBI regulations, and the conversion into equity shares can be exercised at any time within the 18-month period from allotment.