Apana Logistics IPO

Apana Logistics is a logistics service provider that provides services related to container handling and container transportation. Its service offering includes container handling at Container Freight Stations (CFS), Inland Container Depots (ICDs) and ports, road transportation, cargo handling at warehouses of third parties and operation, repair and maintenance of trucks and trailers. As of March 31, 2026, it had 33 truck-trailers, 5 reach stackers and 2 cranes.

The company operates under a diversified logistics business model covering multiple aspects of cargo handling and movement. It participates in tenders which are mostly based on technical, financial and price-related considerations and generally enters into contracts that range from 2 to 5 years. As of March 31, 2026, it had six orders worth approximately ₹80.35 crore in hand.

Handling of containers at CFSs, ICDs, and ports has become the main business vertical of the company. In FY26, this business vertical contributed revenues worth ₹13.37 crore, which constituted 43.34% of the company’s total operating revenue, as against ₹9.03 crore of FY24. Road transportation contributed revenues worth ₹15.10 crore, constituting 48.94% of the total operating revenue, whereas the maintenance of trucks and trailers generated revenues of ₹1.73 crore, which amounted to 5.59%. Handling of cargo at warehouses of third parties contributed revenues worth ₹0.65 crore, which constituted 2.13% of the total operating revenue. In terms of geography, Karnataka accounted for 33.25% of the revenues from operations, and Maharashtra and West Bengal each contributed 17.36%. Gujarat and Goa accounted for 14.94% and 12.96%, respectively, in FY26.