Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₹75.95, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 19x in the Shipping industry in India. Total loss to shareholders of 8.0% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹110, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 20x in the Shipping industry in India. Total returns to shareholders of 37% over the past three years. Reported Earnings • May 29
Full year 2026 earnings released: EPS: ₹11.00 (vs ₹8.13 in FY 2025) Full year 2026 results: EPS: ₹11.00 (up from ₹8.13 in FY 2025). Revenue: ₹1.12b (up 28% from FY 2025). Net income: ₹53.5m (up 56% from FY 2025). Profit margin: 4.8% (up from 3.9% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annonce • May 29
Cargotrans Maritime Limited Recommends Dividend for the Year Ended March 31, 2026 Cargotrans Maritime Limited at its board meeting held on May 28, 2026 recommended dividend of INR 0.70 per share (7%) per fully paid-up equity share of INR 10 each for the year ended March 31, 2026. The dividend, if approved by the members at ensuing Annual General Meeting, will be dispatched /remitted within 30 days from the date of declaration. Annonce • May 25
Cargotrans Maritime Limited to Report Q4, 2026 Results on May 28, 2026 Cargotrans Maritime Limited announced that they will report Q4, 2026 results on May 28, 2026 New Risk • May 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (52% accrual ratio). Market cap is less than US$10m (₹697.3m market cap, or US$7.21m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₹119, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 16x in the Shipping industry in India. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹170, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 17x in the Shipping industry in India. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹165, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 13x in the Shipping industry in India. Total returns to shareholders of 41% over the past three years. Annonce • Nov 27
Cargotrans Maritime Limited Appoints Nilesh Gopal Rabadia as an Independent Director Cargotrans Maritime Limited at its EGM held on 26 November, 2025, approved appointment of Mr. Nilesh Gopal Rabadia as an Independent Director of the Company. New Risk • Nov 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (52% accrual ratio). Market cap is less than US$10m (₹634.8m market cap, or US$7.16m). Minor Risk Paying a dividend despite having no free cash flows. Annonce • Nov 11
Cargotrans Maritime Limited to Report Q2, 2026 Results on Nov 14, 2025 Cargotrans Maritime Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹162, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 18x in the Shipping industry in India. Total returns to shareholders of 33% over the past three years. Annonce • Oct 30
Cargotrans Maritime Limited announced that it expects to receive funding from S V Enterprises, Padigree Advisory Private Limited, Parasrampuria Infrastructure Llp and other investors. Cargotrans Maritime Limited announced a private placement to issue 1,546,500 equity shares and 1,650,000 warrants convertible on Ocotber 29, 2025. Transaction involves participation of Payal Sanghavi for 100,500 shares, Bhavika Dhirajlal Chavada for 193,500 shares, Padigree Advisory Private Limited for 100,500 shares, Jacob Tharakan for 201,000 warrant, G R T Ventures LLP for 498,000 warrant and other investors. Transaction is approved by board of directors. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹104, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 15x in the Shipping industry in India. Total returns to shareholders of 36% over the past three years. Annonce • Oct 03
Cargotrans Maritime Limited Approves to Declare Dividend on Equity Shares for the Financial Year Ended March 31, 2025 Cargotrans Maritime Limited at its Annual General Meeting, held on September 30, 2025, approved to declare dividend on equity shares at the rate of INR 0.50/- per share (5%) per fully paid-up equity share of INR 10/- (Rupees Ten only) each of the Company for the financial year ended March 31, 2025. New Risk • Sep 13
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (52% accrual ratio). Market cap is less than US$10m (₹331.5m market cap, or US$3.76m). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Sep 12
Full year 2025 earnings released: EPS: ₹8.13 (vs ₹5.11 in FY 2024) Full year 2025 results: EPS: ₹8.13 (up from ₹5.11 in FY 2024). Revenue: ₹874.7m (up 29% from FY 2024). Net income: ₹34.3m (up 65% from FY 2024). Profit margin: 3.9% (up from 3.1% in FY 2024). The increase in margin was driven by higher revenue. Annonce • Sep 01
Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2025 Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2025. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹101, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 15x in the Shipping industry in India. Total returns to shareholders of 58% over the past year. Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹8.13 (vs ₹5.11 in FY 2024) Full year 2025 results: EPS: ₹8.13 (up from ₹5.11 in FY 2024). Revenue: ₹879.8m (up 30% from FY 2024). Net income: ₹34.3m (up 65% from FY 2024). Profit margin: 3.9% (up from 3.1% in FY 2024). The increase in margin was driven by higher revenue. Annonce • May 28
Cargotrans Maritime Limited Recommends Dividend for the Year Ended March 31, 2025 Cargotrans Maritime Limited announced that at its board meeting held on May 28, 2025, recommended dividend of INR 0.50 per share (5%) per fully paid up equity share of INR 10 each for the year ended March 31, 2025. The dividend, if approved by the members at upcoming Annual General Meeting, will be dispatched /remitted within 30 days from the date of declaration. Annonce • May 24
Cargotrans Maritime Limited to Report Second Half, 2025 Results on May 28, 2025 Cargotrans Maritime Limited announced that they will report second half, 2025 results on May 28, 2025 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹86.30, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 14x in the Shipping industry in India. Total returns to shareholders of 37% over the past year. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹80.00, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 14x in the Shipping industry in India. Total returns to shareholders of 27% over the past year. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹78.00, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 15x in the Shipping industry in India. Total returns to shareholders of 11% over the past year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹95.00, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 19x in the Shipping industry in India. Total returns to shareholders of 16% over the past year. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹84.65, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 21x in the Shipping industry in India. Total returns to shareholders of 12% over the past year. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹97.90, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 20x in the Shipping industry in India. Total returns to shareholders of 31% over the past year. Annonce • Nov 12
Cargotrans Maritime Limited to Report Q2, 2025 Results on Nov 14, 2024 Cargotrans Maritime Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹81.60, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 20x in the Shipping industry in India. Total returns to shareholders of 2.4% over the past year. Annonce • Sep 13
Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2024 Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2024, at 17:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹71.00, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 18x in the Shipping industry in India. Total loss to shareholders of 12% over the past year. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹80.00, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 21x in the Shipping industry in India. Total returns to shareholders of 3.9% over the past year. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹5.11 (vs ₹5.74 in FY 2023) Full year 2024 results: EPS: ₹5.11 (down from ₹5.74 in FY 2023). Revenue: ₹680.8m (down 8.3% from FY 2023). Net income: ₹20.8m (down 11% from FY 2023). Profit margin: 3.1% (down from 3.2% in FY 2023). The decrease in margin was driven by lower revenue. New Risk • May 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (105% accrual ratio). Market cap is less than US$10m (₹263.1m market cap, or US$3.16m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Annonce • May 25
Cargotrans Maritime Limited to Report Q4, 2024 Results on May 29, 2024 Cargotrans Maritime Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹51.00, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 15x in the Shipping industry in India. Total loss to shareholders of 29% over the past year. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹58.20, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 15x in the Shipping industry in India. Total loss to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹83.00, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 20x in the Shipping industry in India. Total loss to shareholders of 24% over the past year. Reported Earnings • Nov 16
First half 2024 earnings released: EPS: ₹3.32 (vs ₹5.31 in 1H 2023) First half 2024 results: EPS: ₹3.32 (down from ₹5.31 in 1H 2023). Revenue: ₹446.2m (up 4.5% from 1H 2023). Net income: ₹13.6m (down 15% from 1H 2023). Profit margin: 3.0% (down from 3.7% in 1H 2023). The decrease in margin was driven by higher expenses. Annonce • Nov 05
Cargotrans Maritime Limited to Report First Half, 2024 Results on Nov 10, 2023 Cargotrans Maritime Limited announced that they will report first half, 2024 results on Nov 10, 2023 Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹92.00, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 12x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹96.17, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 14x in the Shipping industry in India. Annonce • Sep 09
Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2023 Cargotrans Maritime Limited, Annual General Meeting, Sep 30, 2023, at 16:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone and consolidated financial statement of the Company for the Financial Year ended March 31, 2023 and the reports of the Board of Directors and Auditors thereon; to consider and appoint a director in place of Mr. Edwin Alexander, who retire by rotation and being eligible, offer himself for re-appointment; to consider Approval of Related Party Transactions. New Risk • Jun 15
New major risk - Revenue and earnings growth Revenue has declined by 17% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue has declined by 17% over the past year. High level of non-cash earnings (75% accrual ratio). Market cap is less than US$10m (₹318.3m market cap, or US$3.88m). Valuation Update With 7 Day Price Move • May 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹84.40, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 16x in the Shipping industry in India. Annonce • May 23
Cargotrans Maritime Limited to Report Second Half, 2023 Results on May 29, 2023 Cargotrans Maritime Limited announced that they will report second half, 2023 results on May 29, 2023 Board Change • May 08
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Non-Executive Chairman Edwin Alexander is the most experienced director on the board, commencing their role in 2012. Independent Director Praveen Agarwal was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹97.00, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 14x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹86.20, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 15x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹76.55, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 14x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹96.55, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 14x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹112, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 16x in the Shipping industry in India. Reported Earnings • Nov 27
First half 2023 earnings released First half 2023 results: EPS: ₹5.31. Net income: ₹15.9m (up ₹15.9m from 1H 2022). Annonce • Nov 19
Cargotrans Maritime Limited to Report First Half, 2023 Results on Nov 24, 2022 Cargotrans Maritime Limited announced that they will report first half, 2023 results on Nov 24, 2022 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Non-Executive Chairman Edwin Alexander is the most experienced director on the board, commencing their role in 2012. Independent Director Praveen Agarwal was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 22% share price gain to ₹127, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 15x in the Shipping industry in India. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 20% share price gain to ₹95.45, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 13x in the Shipping industry in India. Board Change • Oct 10
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Non-Executive Chairman Edwin Alexander is the most experienced director on the board, commencing their role in 2012. Independent Director Praveen Agarwal was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 
