BlackBuck
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BlackBuck (BLACKBUCK) investor relations material

BlackBuck Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary5 Feb, 2026

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), and PAT at INR 32 crore (₹31.72 Cr), reflecting consistent profitability and business scale-up, though last year had exceptional items affecting comparability.

  • Core businesses grew 31.5% YoY, while growth businesses (Superloads, Vehicle Finance) surged 271% YoY, led by expansion in new verticals.

  • The company’s strategy remains focused on platform innovation, omni-channel distribution, and deepening 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 for Q3 FY26 was INR 1,717.84 million (₹171.78 Cr), up 51% YoY; 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, up 118% YoY.

  • PAT for the quarter was INR 32 crore, with an exceptional wage-related hit of INR 3.5-4 crore due to labor code changes.

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

  • Basic EPS from continuing operations for Q3 FY26 was Rs. 1.74, compared to a loss per share of Rs. 2.80 in Q3 FY25.

Outlook and guidance

  • Core businesses are expected to continue compounding, with ongoing investments in distribution and new business verticals.

  • No specific forward guidance on payment GTV growth, but market share gains are expected to continue, potentially reaching 65% over 2-3 years.

  • Superloads expansion to 14 cities by June 2026 remains the target, contingent on business performance and economics.

  • Focus remains on expanding market share in core businesses and aggressive scaling of Superloads and vehicle finance.

New labor codes: future financial impact?
Truck operator services vs Lending business growth?
Discontinued operations: what was their impact?
Superloads: path to 50-60% EBITDA
Payments GTV: sustaining growth beyond 50% share
Other expenses: breakdown of manpower costs
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Frequently asked questions

Zinka Logistics Solutions Limited, operating under the brand BlackBuck, is a technology-driven logistics company specializing in freight transportation services. It provides a digital platform that connects truck owners with businesses, enabling efficient cargo movement across India. The company offers services such as freight matching, fleet management, and digital payment solutions to streamline logistics operations. BlackBuck serves industries including manufacturing, retail, and e-commerce, leveraging data analytics and automation to optimize supply chain efficiency. Zinka Logistics Solutions Limited is headquartered in Bengaluru, India, and its shares are listed on the NSE.

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