Hold

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Last Updated: 14 Feb 2026, 08:34 pm IST | Report Date: Feb 14, 2026

AVG Logistics Limited Stock Analysis

Name: AVG Logistics Limited (AVG) Stock Analysis
Brand: NSE India
Rating: 5.4 (3 reviews)

AVG NSE India

4.0

Gemini

Sell

6.5

Claude

Hold

5.8

ChatGPT

Hold

AVG Logistics Limited (AVG) is a India-based company listed on NSE. This AI-powered analysis provides investment insights based on quarterly earnings reports and financial performance metrics.

Share Share Share

AVG Logistics demonstrates stable but unexciting performance with Q3 FY2026 consolidated revenue declining marginally to INR 13,407.69 lakhs from INR 14,301.28 lakhs in Q2 (down 6.2% QoQ), though nine-month revenue of INR 40,211.12 lakhs remains flat versus INR 40,380.60 lakhs last year. Profitability improved with Q3 PAT of INR 540.50 lakhs (up 7% QoQ) and nine-month PAT of INR 1,546.08 lakhs (down 4% YoY), reflecting better cost control despite revenue headwinds. Operating expenses declined to INR 9,498.60 lakhs in Q3 from INR 10,171.03 lakhs in Q2, improving operating leverage, but YTD operating margin compression and elevated finance costs of INR 2,227.76 lakhs (up 12.4% YoY) indicate pressure from debt servicing. The company operates in a single-segment logistics business with limited diversification, and the recent appointment of a new CFO (Rajesh Rohilla effective January 23, 2026) following the November resignation of Himanshu Sharma introduces management continuity risk.

Based on: AVG Logistics Limited - Financial Results (14/2/2026) (Feb 14, 2026)

AI Investment Score & Analysis

+ Key Strengths

Q3 FY2026 standalone PAT of INR 535.79 lakhs improved 6.7% QoQ from INR 502.27 lakhs, showing better profitability despite revenue decline

Operating expenses reduced to INR 9,498.60 lakhs in Q3 from INR 10,171.03 lakhs in Q2 (down 6.6% QoQ), demonstrating effective cost management

Nine-month FY2026 consolidated total comprehensive income of INR 1,551.70 lakhs remains resilient versus INR 1,610.21 lakhs in the prior year period

Other income surged to INR 374.70 lakhs for nine months FY2026 from INR 264.17 lakhs last year (up 41.8% YoY), providing non-operating cushion

Employee benefit expenses remained controlled at INR 1,804.96 lakhs for nine months versus INR 1,660.68 lakhs last year (8.7% increase), below revenue base growth

- Key Risks

Q3 FY2026 consolidated revenue declined 6.2% QoQ to INR 13,407.69 lakhs from INR 14,301.28 lakhs, indicating volume or pricing pressure

Finance costs rose sharply to INR 2,227.76 lakhs for nine months FY2026 from INR 1,981.13 lakhs last year (up 12.4% YoY), reflecting higher debt servicing burden

Nine-month revenue growth is effectively flat at INR 40,211.12 lakhs versus INR 40,380.60 lakhs last year, showing no top-line expansion momentum

Single-segment logistics business with no reportable diversification increases concentration risk and limits growth optionality

CFO transition with Rajesh Rohilla appointed January 23, 2026 after Himanshu Sharma's November 21, 2025 resignation raises management continuity concerns

Subsidiary AVG Sunil Liquid Logistics Private Limited was struck off during the quarter ended September 30, 2025, indicating portfolio rationalization or underperformance

Forward Outlook

The report does not disclose any new strategic initiatives, expansion plans, capacity additions, partnerships, or forward guidance for upcoming quarters. The company continues to operate in the single-segment logistics space with no mentioned catalysts such as new contracts, geographic expansion, or technology investments. The recent implementation of India's New Labour Codes (effective November 21, 2025) may introduce compliance adjustments, though management assesses the impact as unlikely to be material for own employees; contract workforce impact is still under evaluation. Near-term performance will likely hinge on volume recovery to reverse the QoQ revenue decline seen in Q3, and the new CFO's ability to stabilize financial operations and potentially optimize the elevated finance cost structure.

Detailed AI Analysis by Provider

4.0

Google Gemini Sell

gemini-cli (Gemini CLI)

AVG Logistics Limited reported a challenging quarter with a decline in revenue from operations, both sequentially by 6.25% to INR 13,407.69 lakhs and year-over-year by 5.87% from INR 14,243.58 lakhs. Despite a modest year-over-year increase in profit for the quarter, the nine-month profit also saw a dip of 3.97% to INR 1,546.08 lakhs. The company faces headwinds with rising finance costs and a lack of explicit forward-looking growth catalysts in the provided report, suggesting potential fundamental weaknesses.

Forward Outlook

The report provides limited forward-looking details. Strategically, the company saw a change in its Chief Financial Officer, with Mr. Himanshu Sharma resigning and Mr. Rajesh Rohila being appointed effective January 23, 2026. Management is also evaluating the New Labour Codes, with an initial view that the impact on the Group is unlikely to be material, and will provide appropriate accounting effects once Central/State Rules are fully notified. No explicit new projects, capacity expansions, or other significant catalysts for the next 2-4 quarters were mentioned in the earnings statement. Current momentum suggests a decelerating revenue trend.

Strengths

Profit for the quarter ended December 31, 2025, increased by 4.95% to INR 540.50 lakhs from INR 515.01 lakhs in the same quarter last year (Dec 31, 2024).

Profit Before Tax (PBT) showed a sequential improvement, rising to INR 709.08 lakhs in Q3 FY26 from INR 657.14 lakhs in Q2 FY26.

The company is already in compliance with basic wages criteria of the New Labour Codes, and management anticipates no material impact on the Group from these changes.

Statutory auditors issued an unmodified report on the unaudited consolidated financial results, indicating no material misstatements found during their limited review.

Total comprehensive income attributable to shareholders for the quarter ended December 31, 2025, was INR 545.98 lakhs, an increase from INR 509.63 lakhs in the previous quarter (Sept 30, 2025).

Risks

Revenue from operations declined both sequentially (QoQ) by 6.25% to INR 13,407.69 lakhs from INR 14,301.28 lakhs, and year-over-year (YoY) by 5.87% from INR 14,243.58 lakhs for the quarter ended December 31, 2025.

Nine-month consolidated profit for the period ended December 31, 2025, decreased by 3.97% to INR 1,546.08 lakhs from INR 1,610.04 lakhs in the prior year period.

Consolidated Basic and Diluted EPS for the nine months ended December 31, 2025, declined to INR 10.27 from INR 10.83 in the corresponding prior year period.

Finance costs increased significantly by 27.28% year-over-year, rising to INR 816.30 lakhs in Q3 FY26 from INR 641.38 lakhs in Q3 FY25.

"Other income" saw a sharp sequential decline to INR 10.61 lakhs in Q3 FY26 from INR 199.03 lakhs in Q2 FY26, indicating potential non-recurring nature of past income.

The auditors noted that interim financial information for two subsidiaries (total revenue of Rs. 61.41 lakhs for the quarter) and an associate (net loss of Rs. 0.01 lakhs for the quarter) were not reviewed by their respective auditors and were furnished by management.

6.5

Anthropic Claude Hold

claude-cli (Claude Code)

Forward Outlook

Strengths

Q3 FY2026 standalone PAT of INR 535.79 lakhs improved 6.7% QoQ from INR 502.27 lakhs, showing better profitability despite revenue decline

Operating expenses reduced to INR 9,498.60 lakhs in Q3 from INR 10,171.03 lakhs in Q2 (down 6.6% QoQ), demonstrating effective cost management

Nine-month FY2026 consolidated total comprehensive income of INR 1,551.70 lakhs remains resilient versus INR 1,610.21 lakhs in the prior year period

Other income surged to INR 374.70 lakhs for nine months FY2026 from INR 264.17 lakhs last year (up 41.8% YoY), providing non-operating cushion

Employee benefit expenses remained controlled at INR 1,804.96 lakhs for nine months versus INR 1,660.68 lakhs last year (8.7% increase), below revenue base growth

Risks

Q3 FY2026 consolidated revenue declined 6.2% QoQ to INR 13,407.69 lakhs from INR 14,301.28 lakhs, indicating volume or pricing pressure

Finance costs rose sharply to INR 2,227.76 lakhs for nine months FY2026 from INR 1,981.13 lakhs last year (up 12.4% YoY), reflecting higher debt servicing burden

Nine-month revenue growth is effectively flat at INR 40,211.12 lakhs versus INR 40,380.60 lakhs last year, showing no top-line expansion momentum

Single-segment logistics business with no reportable diversification increases concentration risk and limits growth optionality

CFO transition with Rajesh Rohilla appointed January 23, 2026 after Himanshu Sharma's November 21, 2025 resignation raises management continuity concerns

Subsidiary AVG Sunil Liquid Logistics Private Limited was struck off during the quarter ended September 30, 2025, indicating portfolio rationalization or underperformance

5.8

OpenAI ChatGPT Hold

codex-cli (OpenAI Codex)

Verdict: AVG Logistics looks fundamentally stable but with soft growth, so the risk-reward appears neutral over a 6-12 month view. In Q3 FY26 (quarter ended December 31, 2025), consolidated revenue from operations was INR 13,407.69 lakhs, down 6.3% QoQ (vs INR 14,301.28 lakhs) and about 5.9% YoY (vs INR 14,243.58 lakhs), while PAT was broadly flat at INR 540.50 lakhs (vs INR 551.20 lakhs QoQ and INR 546.08 lakhs YoY). Profitability held up because total expenses declined to INR 12,805.27 lakhs from INR 13,845.17 lakhs QoQ, and implied EBITDA margin improved to about 20.3% from about 19.3% in the prior quarter. However, 9M FY26 revenue and PAT are both below 9M FY25 (INR 40,211.2 vs INR 40,380.6 lakhs; INR 1,546.08 vs INR 1,610.04 lakhs), indicating only modest earnings quality momentum.

Forward Outlook

Strategically, the period reflects portfolio and management changes rather than major growth announcements: AVG Sunil Liquid Logistics was struck off (approval received by September 30, 2025), and a new CFO (Mr. Rajesh Rohilla) was appointed effective January 23, 2026 after the prior CFO resigned on November 21, 2025. No explicit capex plan, order pipeline, project launch, or forward guidance is disclosed in this filing, so near-term catalysts are limited in the report itself. Over the next 2-4 quarters, momentum appears stable-to-decelerating: profitability has been defended through lower costs, but revenue and 9M earnings trends remain soft. Management also states New Labour Codes are not currently materially impacting own-employee costs, with contract-workforce impact still under evaluation, so regulatory cost risk remains a watch item rather than a confirmed drag.

Strengths

Auditor review is unmodified for both standalone and consolidated results, reducing accounting reliability concerns in the reported numbers.

Cost discipline improved in Q3 FY26: total expenses fell to INR 12,805.27 lakhs from INR 13,845.17 lakhs in Q2 FY26, supporting profitability despite weaker revenue.

Quarterly PAT remained resilient at INR 540.50 lakhs with only a ~1.9% QoQ decline (INR 551.20 lakhs in Q2 FY26) and near-flat YoY performance (INR 546.08 lakhs in Q3 FY25).

Operating profitability improved sequentially: implied EBITDA (PBT + finance cost + depreciation) rose to about INR 2,719.63 lakhs, taking margin to ~20.3% vs ~19.3% in Q2 FY26.

Balance-sheet base expanded through higher paid-up equity capital (INR 1,505.77 lakhs vs INR 1,486.27 lakhs YoY), indicating additional capital support.

Risks

Topline momentum is weak: Q3 FY26 revenue from operations declined 6.3% QoQ and ~5.9% YoY, and 9M FY26 revenue is marginally below 9M FY25 (INR 40,211.2 vs INR 40,380.6 lakhs).

9M earnings are lower YoY, with PAT at INR 1,546.08 lakhs vs INR 1,610.04 lakhs in 9M FY25 (about 4.0% decline), suggesting limited growth conversion.

Financing burden is rising: Q3 finance costs increased to INR 816.30 lakhs from INR 641.38 lakhs YoY (about 27% increase), which can constrain future net margin expansion.

Other income fell sharply to INR 10.61 lakhs in Q3 FY26 from INR 199.03 lakhs in Q2 FY26, reducing non-operating earnings cushion.

A portion of consolidation relies on management-certified numbers: two subsidiaries and one associate were not auditor-reviewed (though stated as not material), which is a governance/visibility risk at the margin.

Score History

Score Timeline

Quarterly Report News Event

All Scores

Date	Report	Score	Sentiment	AI
Feb 14, 2026	AVG Logistics Limited - Financial Results (14/2/2026)	4.0	Sell	Gemini
AVG Logistics Limited reported a challenging quarter with a decline in revenue from operations, both sequentially by 6.25% to INR 13,407.69 lakhs and year-over-year by 5.87% from INR 14,243.58 lakhs. Despite a modest year-over-year increase in profit for the quarter, the nine-month profit also saw a dip of 3.97% to INR 1,546.08 lakhs. The company faces headwinds with rising finance costs and a lack of explicit forward-looking growth catalysts in the provided report, suggesting potential fundamental weaknesses. STRENGTHS: Profit for the quarter ended December 31, 2025, increased by 4.95% to INR 540.50 lakhs from INR 515.01 lakhs in the same quarter last year (Dec 31, 2024). / Profit Before Tax (PBT) showed a sequential improvement, rising to INR 709.08 lakhs in Q3 FY26 from INR 657.14 lakhs in Q2 FY26. / The company is already in compliance with basic wages criteria of the New Labour Codes, and management anticipates no material impact on the Group from these changes. / Statutory auditors issued an unmodified report on the unaudited consolidated financial results, indicating no material misstatements found during their limited review. / Total comprehensive income attributable to shareholders for the quarter ended December 31, 2025, was INR 545.98 lakhs, an increase from INR 509.63 lakhs in the previous quarter (Sept 30, 2025). RISKS: Revenue from operations declined both sequentially (QoQ) by 6.25% to INR 13,407.69 lakhs from INR 14,301.28 lakhs, and year-over-year (YoY) by 5.87% from INR 14,243.58 lakhs for the quarter ended December 31, 2025. / Nine-month consolidated profit for the period ended December 31, 2025, decreased by 3.97% to INR 1,546.08 lakhs from INR 1,610.04 lakhs in the prior year period. / Consolidated Basic and Diluted EPS for the nine months ended December 31, 2025, declined to INR 10.27 from INR 10.83 in the corresponding prior year period. / Finance costs increased significantly by 27.28% year-over-year, rising to INR 816.30 lakhs in Q3 FY26 from INR 641.38 lakhs in Q3 FY25. / "Other income" saw a sharp sequential decline to INR 10.61 lakhs in Q3 FY26 from INR 199.03 lakhs in Q2 FY26, indicating potential non-recurring nature of past income. / The auditors noted that interim financial information for two subsidiaries (total revenue of Rs. 61.41 lakhs for the quarter) and an associate (net loss of Rs. 0.01 lakhs for the quarter) were not reviewed by their respective auditors and were furnished by management.
Feb 14, 2026	AVG Logistics Limited - Financial Results (14/2/2026)	6.5	Hold	Claude
AVG Logistics demonstrates stable but unexciting performance with Q3 FY2026 consolidated revenue declining marginally to INR 13,407.69 lakhs from INR 14,301.28 lakhs in Q2 (down 6.2% QoQ), though nine-month revenue of INR 40,211.12 lakhs remains flat versus INR 40,380.60 lakhs last year. Profitability improved with Q3 PAT of INR 540.50 lakhs (up 7% QoQ) and nine-month PAT of INR 1,546.08 lakhs (down 4% YoY), reflecting better cost control despite revenue headwinds. Operating expenses declined to INR 9,498.60 lakhs in Q3 from INR 10,171.03 lakhs in Q2, improving operating leverage, but YTD operating margin compression and elevated finance costs of INR 2,227.76 lakhs (up 12.4% YoY) indicate pressure from debt servicing. The company operates in a single-segment logistics business with limited diversification, and the recent appointment of a new CFO (Rajesh Rohilla effective January 23, 2026) following the November resignation of Himanshu Sharma introduces management continuity risk. STRENGTHS: Q3 FY2026 standalone PAT of INR 535.79 lakhs improved 6.7% QoQ from INR 502.27 lakhs, showing better profitability despite revenue decline / Operating expenses reduced to INR 9,498.60 lakhs in Q3 from INR 10,171.03 lakhs in Q2 (down 6.6% QoQ), demonstrating effective cost management / Nine-month FY2026 consolidated total comprehensive income of INR 1,551.70 lakhs remains resilient versus INR 1,610.21 lakhs in the prior year period / Other income surged to INR 374.70 lakhs for nine months FY2026 from INR 264.17 lakhs last year (up 41.8% YoY), providing non-operating cushion / Employee benefit expenses remained controlled at INR 1,804.96 lakhs for nine months versus INR 1,660.68 lakhs last year (8.7% increase), below revenue base growth RISKS: Q3 FY2026 consolidated revenue declined 6.2% QoQ to INR 13,407.69 lakhs from INR 14,301.28 lakhs, indicating volume or pricing pressure / Finance costs rose sharply to INR 2,227.76 lakhs for nine months FY2026 from INR 1,981.13 lakhs last year (up 12.4% YoY), reflecting higher debt servicing burden / Nine-month revenue growth is effectively flat at INR 40,211.12 lakhs versus INR 40,380.60 lakhs last year, showing no top-line expansion momentum / Single-segment logistics business with no reportable diversification increases concentration risk and limits growth optionality / CFO transition with Rajesh Rohilla appointed January 23, 2026 after Himanshu Sharma's November 21, 2025 resignation raises management continuity concerns / Subsidiary AVG Sunil Liquid Logistics Private Limited was struck off during the quarter ended September 30, 2025, indicating portfolio rationalization or underperformance
Feb 14, 2026	AVG Logistics Limited - Financial Results (14/2/2026)	5.8	Hold	ChatGPT
Verdict: AVG Logistics looks fundamentally stable but with soft growth, so the risk-reward appears neutral over a 6-12 month view. In Q3 FY26 (quarter ended December 31, 2025), consolidated revenue from operations was INR 13,407.69 lakhs, down 6.3% QoQ (vs INR 14,301.28 lakhs) and about 5.9% YoY (vs INR 14,243.58 lakhs), while PAT was broadly flat at INR 540.50 lakhs (vs INR 551.20 lakhs QoQ and INR 546.08 lakhs YoY). Profitability held up because total expenses declined to INR 12,805.27 lakhs from INR 13,845.17 lakhs QoQ, and implied EBITDA margin improved to about 20.3% from about 19.3% in the prior quarter. However, 9M FY26 revenue and PAT are both below 9M FY25 (INR 40,211.2 vs INR 40,380.6 lakhs; INR 1,546.08 vs INR 1,610.04 lakhs), indicating only modest earnings quality momentum. STRENGTHS: Auditor review is unmodified for both standalone and consolidated results, reducing accounting reliability concerns in the reported numbers. / Cost discipline improved in Q3 FY26: total expenses fell to INR 12,805.27 lakhs from INR 13,845.17 lakhs in Q2 FY26, supporting profitability despite weaker revenue. / Quarterly PAT remained resilient at INR 540.50 lakhs with only a ~1.9% QoQ decline (INR 551.20 lakhs in Q2 FY26) and near-flat YoY performance (INR 546.08 lakhs in Q3 FY25). / Operating profitability improved sequentially: implied EBITDA (PBT + finance cost + depreciation) rose to about INR 2,719.63 lakhs, taking margin to ~20.3% vs ~19.3% in Q2 FY26. / Balance-sheet base expanded through higher paid-up equity capital (INR 1,505.77 lakhs vs INR 1,486.27 lakhs YoY), indicating additional capital support. RISKS: Topline momentum is weak: Q3 FY26 revenue from operations declined 6.3% QoQ and ~5.9% YoY, and 9M FY26 revenue is marginally below 9M FY25 (INR 40,211.2 vs INR 40,380.6 lakhs). / 9M earnings are lower YoY, with PAT at INR 1,546.08 lakhs vs INR 1,610.04 lakhs in 9M FY25 (about 4.0% decline), suggesting limited growth conversion. / Financing burden is rising: Q3 finance costs increased to INR 816.30 lakhs from INR 641.38 lakhs YoY (about 27% increase), which can constrain future net margin expansion. / Other income fell sharply to INR 10.61 lakhs in Q3 FY26 from INR 199.03 lakhs in Q2 FY26, reducing non-operating earnings cushion. / A portion of consolidation relies on management-certified numbers: two subsidiaries and one associate were not auditor-reviewed (though stated as not material), which is a governance/visibility risk at the margin.

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Frequently Asked Questions

What is the AI Stock Score?

The AI Stock Score is a composite rating from 0-10 generated by analyzing quarterly earnings reports using three leading AI models (Google Gemini, Anthropic Claude, and OpenAI ChatGPT). Each AI independently evaluates financial performance, growth prospects, risks, and market positioning to provide an objective investment perspective.

How should I interpret Buy/Hold/Sell ratings?

Buy (7.0-10.0): Strong fundamentals and positive outlook. Hold (4.0-6.9): Mixed signals, suitable for existing positions. Sell (0-3.9): Deteriorating fundamentals or significant risks. These are AI-generated opinions for informational purposes only, not investment advice.

How is the composite score calculated?

The composite score is the mathematical average of the latest scores from each AI provider. For example, if Gemini rates 7.5, Claude rates 4.5, and ChatGPT rates 6.0, the composite score would be (7.5+4.5+6.0)/3 = 6.0. This multi-AI approach reduces bias from any single model.

How often are scores updated?

Scores are automatically generated within hours of quarterly earnings results being published on NSE. The system monitors earnings announcements 4 times daily and processes new reports immediately. Check the "Last Updated" date at the top of this page for the most recent analysis timestamp.

Is this financial advice?

No. This is AI-generated analysis for informational and educational purposes only. MarketsHost is not a SEBI-registered Research Analyst or Investment Adviser. AI models can produce inaccurate results. Always consult a qualified financial advisor and conduct your own due diligence before making investment decisions.