BlackBuck (BLACKBUCK) Q3 25/26 earnings summary

Executive summary

• Total income for Q3 FY26 reached INR 189 crore (₹188.27 Cr), up 53% YoY, with EBITDA at INR 45 crore (₹44.77 Cr, up 49.36% YoY), and PAT at INR 32 crore (₹31.72 Cr), reflecting consistent profitability and business scale-up.

• Core businesses grew 31.5% YoY, while growth businesses (Superloads, Vehicle Finance) surged 271% YoY, with strong operating leverage and profitability.

• The company’s strategy emphasizes innovation for truck operators, omni-channel distribution, and high customer engagement.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, with review by statutory auditors and audit committee.

• Company name changed from Zinka Logistics Solutions Limited to BlackBuck Limited effective August 20, 2025.

Financial highlights

• Revenue from operations grew 51% YoY to ₹171.78 Cr; net revenues increased 34% YoY with a 94% contribution margin.

• Adjusted EBITDA for Q3 was INR 50 crore, up 51% YoY; nine-month adjusted EBITDA was INR 140 crore, more than double the previous year.

• Consolidated revenue from operations for Q3 FY26 was Rs. 1,717.84 million, up from Rs. 1,139.80 million in Q3 FY25.

• PAT for the quarter was INR 32 crore (₹31.72 Cr), including an exceptional wage-related hit of INR 3.5–4 crore.

• Gross transaction value of payments increased 23.31% YoY to ₹7,500.49 Cr; total payment transactions rose 19.95% YoY.

Outlook and guidance

• Management expects continued compounding in core businesses and ongoing investment in new verticals, with profitability anchored by operating leverage.

• Superloads is targeted to expand to 14 cities by June 2026, with further growth dependent on business performance and economics.

• No specific forward guidance on GTV or EBITDA margins, but management anticipates continued market share gains and high incremental margins in core businesses.

• The company continues to focus on its core logistics technology platform and lending business, with segment information regularly reviewed by the CEO.