Transworld Shipping Lines Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing significant challenges in operational performance. The shipping company, formerly known as Shreyas Shipping & Logistics Limited, reported substantial losses across both standalone and consolidated financials.

Standalone Financial Performance

The company's standalone operations showed a marked deterioration in Q3 FY26. Key financial metrics demonstrate the extent of the decline:

For the nine-month period ended December 31, 2025, the standalone performance remained challenging with revenue declining to ₹27,538 lakhs from ₹33,565 lakhs in the corresponding period of FY25. The company reported a net loss of ₹3,999 lakhs compared to a profit of ₹3,859 lakhs in the previous year.

Consolidated Results

The consolidated financial results reflected similar trends with broader operational challenges. The consolidated net loss for Q3 FY26 stood at ₹2,530 lakhs against a profit of ₹1,476 lakhs in Q3 FY25.

Strategic Acquisitions

During the quarter, Transworld Shipping Lines completed significant acquisitions to expand its operational capabilities. The company acquired 100% equity ownership in two entities:

• Transworld Integrated Logistek Private Limited (TILPL): Acquired for ₹2,441 lakhs
• Transworld Logistics Private Limited (TLPL): Acquired for ₹225 lakhs

Both entities became wholly owned subsidiaries effective December 11, 2025. The acquisitions were structured as transactions between companies under common control, resulting in a negative capital reserve of ₹2,512 lakhs on consolidation.

Operational Challenges

The company faced multiple operational headwinds during the quarter. Total expenses on a standalone basis increased to ₹10,773 lakhs in Q3 FY26 from ₹10,269 lakhs in Q3 FY25. Key expense categories showed varying trends:

• Employee benefits expense decreased to ₹2,639 lakhs from ₹3,249 lakhs
• Fuel, lube oil and fresh water costs increased to ₹836 lakhs from ₹805 lakhs
• Other operation costs rose significantly to ₹2,770 lakhs from ₹1,725 lakhs
• Depreciation and amortisation expense increased to ₹2,511 lakhs from ₹2,123 lakhs

Regulatory Compliance

The Board of Directors, in their meeting held on February 13, 2026, approved the unaudited financial results and adopted an amended Code for Practices and Procedures for Fair disclosure of Unpublished Price Sensitive Information. The financial results were prepared in accordance with Indian Accounting Standard 34 and reviewed by statutory auditors PKF Sridhar & Santhanam LLP.

Transworld Shipping Lines Limited has successfully completed its acquisition of Transworld Integrated Logistik Private Limited (TILPL), marking a significant expansion in the logistics sector. The company announced the completion of this strategic acquisition on January 30, 2026, following regulatory disclosures made under SEBI regulations.

Transaction Overview

The acquisition involves the purchase of 100% paid-up share capital of TILPL, making it a wholly owned material subsidiary of Transworld Shipping Lines. The transaction structure and key financial details are outlined below:

Target Company Profile

Transworld Integrated Logistik Private Limited is a leading Indian freight forwarder and logistics company incorporated on October 24, 2015. The company operates from its registered office in Navi Mumbai and has established itself as a significant player in the logistics sector.

Financial Performance

TILPL's financial metrics demonstrate its market position in the logistics industry:

Three-Year Revenue Performance

Strategic Rationale

The acquisition aligns with Transworld Shipping Lines' expansion strategy in the logistics sector. The company expects several strategic benefits from this transaction:

• Acceleration of revenue growth through diversified service offerings
• Expansion into emerging markets and new trade corridors
• Enhanced global outreach capabilities across various service segments
• Improved customer acquisition and retention strategies

Related Party Considerations

The transaction qualifies as a related party transaction, as key promoters of Transworld Shipping Lines also hold positions in TILPL. Mr. Sivaswamy Ramakrishnan Iyer, Executive Chairman, and Mr. Ritesh Sivaswamy Ramakrishnan, Non-Executive Director, serve as promoters in both companies. The company has confirmed that the transaction was conducted at arm's length pricing.

Regulatory Compliance

The acquisition was completed following proper regulatory procedures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No additional governmental or regulatory approvals were required for this transaction. The company had previously disclosed its intention to acquire TILPL in communications dated August 12, 2025, and December 31, 2025.