In a significant market transaction, GSAM Holdings LLC, an affiliate of Goldman Sachs Asset Management, has divested a 2.74% stake in Zinka Logistics Solutions , the parent company of BlackBuck, for ₹294.75 crore. The sale was executed through an open market transaction on the Bombay Stock Exchange (BSE).

Transaction Details

The sale involved 49.09 lakh equity shares of Zinka Logistics Solutions, which were offloaded at an average price of ₹600.32 per share. This move by the Goldman Sachs affiliate has attracted attention in the logistics sector, highlighting potential shifts in investor sentiment or strategy.

Nomura Increases Stake

Coinciding with GSAM Holdings' divestment, Nomura India Investment Fund Mother Fund seized the opportunity to increase its position in Zinka Logistics Solutions. The fund acquired 41.16 lakh shares, equivalent to a 2.3% stake, for ₹246.90 crore. The purchase was made at an average price of ₹599.77 per share.

Nomura's Enhanced Position

Following this acquisition, Nomura's total holding in Zinka Logistics Solutions has seen a substantial increase:

This strategic move by Nomura has more than doubled its stake in the company, signaling confidence in Zinka Logistics Solutions' future prospects.

Market Response

The market's immediate reaction to these transactions was relatively muted. Zinka Logistics Solutions' shares closed at ₹635.05 on the BSE, marking a marginal decline of 0.23% following the news of these significant stake changes.

These transactions underscore the dynamic nature of institutional investments in the logistics sector, with major players adjusting their positions in response to market conditions and strategic considerations.

Zinka Logistics Solutions Limited , operating under the brand name BlackBuck, has reported robust financial results for the first quarter of fiscal year 2026, demonstrating strong growth across key metrics.

Financial Highlights

• Total revenue reached INR 160.00 crores, marking a 63% year-on-year growth
• EBITDA surged to INR 40.00 crores, a 4x increase from the same quarter last year
• Profit After Tax (PAT) stood at INR 34.00 crores
• Operating cash flow of INR 63.00 crores, driven by upfront subscription revenue collection

Business Performance

• Core business (payments and telematics) grew 41% to INR 120.00 crores
• Growth businesses, including SuperLoads, expanded 4x to INR 23.00 crores
• Monthly transacting customers increased 14% to 783,000
• Payment Gross Transaction Value (GTV) grew 28% to INR 6,800.00 crores

Operational Metrics

• The company demonstrated 88% operating leverage year-on-year
• Continued investment in new business verticals while maintaining profitability growth

SuperLoads Business Update

The company's SuperLoads business, which transitions from a classified to a transaction marketplace, is currently live in four hubs with plans for expansion. This new vertical is showing promising growth and is expected to contribute significantly to the company's future revenue streams.

Management Commentary

Rajesh Kumar Naidu Yabaji, Chairman, Managing Director, and CEO of Zinka Logistics Solutions Limited, commented on the results during the earnings call: "We had a very good end to the last financial year and a very good beginning as well to the next financial year. Our ability to stick to the hardcore metrics, which I think are the holy grail, is starting to happen from this quarter."

He further added, "Most of our revenues are platform-led like subscription revenues, commission-led revenues. So hence, if you see on the right-hand side, the revenues are largely recurring in nature. So we don't have to really go every quarter and win these revenues, like 90% of these revenues probably would be coming in from what we've already done in the past quarters."

Future Outlook

The company remains optimistic about its growth trajectory, focusing on expanding its core business while scaling up new ventures like SuperLoads. With a strong cash position and recurring revenue model, Zinka Logistics Solutions is well-positioned to capitalize on the growing digitization of the logistics sector in India.

The management has indicated that Q3 and Q4 typically see stronger growth due to seasonality in the logistics industry, suggesting potential for even stronger performance in the latter half of the fiscal year.

As Zinka Logistics Solutions continues to innovate and expand its service offerings, it aims to further solidify its position as a leading player in the Indian logistics technology space.