Ritco Logistics Ltd. (RITCO) AI Stock Analysis

• Market Cap: ₹6.89B
• Dividend Yield: N/A
• Average Volume (3M): 897.00
• Price to Earnings (P/E): 15.1
• Beta (1Y): 1.17
• Revenue Growth: 34.34%
• EPS Growth: 2.00%
• Country: IN
• Employees: 987
• Sector: Services
• Sector Strength: N/A
• Industry: Integrated Freight & Logistics
• EPS (TTM): 3.58
• Shares Outstanding: 28,622,757
• 10 Day Avg. Volume: 1,196
• 30 Day Avg. Volume: 897
• PEG Ratio: 1.14
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -6.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹270.00 ▼(-1.12% Downside)

Ritco Logistics Ltd. has a strong financial performance with significant revenue growth and profitability, though cash flow management needs improvement. Technical indicators show positive momentum, supporting a favorable outlook. The valuation is reasonable, making the stock attractive for growth-oriented investors. The absence of earnings call data and corporate events does not impact the overall score.

Positive Factors

Strong revenue growth

Sustained multi-year revenue expansion more than doubles scale, supporting lasting competitive advantages in logistics: better route density, higher fleet utilization, stronger pricing leverage and bargaining power with customers and suppliers, which underpin multi-quarter growth sustainability.

Improving profitability margins

Rising gross and net margins indicate improving cost controls and pricing discipline. For a fleet-and-operations logistics model, margin expansion reflects operational efficiencies and scale economics that persistently enhance cash generation potential and resilience against cyclical freight rate swings.

Stronger return on equity and equity growth

Improving ROE and growing equity signal that management is deploying capital effectively and building a thicker capital base. This durability supports future investments in fleet and logistics capabilities without immediate dilutive financing, strengthening long-term growth capacity.

Negative Factors

Consistent negative free cash flow

Persistent negative FCF is a structural concern in logistics where capital intensity is high. It constrains fleet renewal and margin-sustaining investments, forces external financing, and raises refinancing and liquidity risks that could impair strategic flexibility over multiple quarters.

Operating cash flow conversion issues

Earnings that do not convert into cash suggest chronic working capital stress—likely from receivables, fuel advances or capex timing—which undermines the firm's ability to self-fund operations and increases reliance on credit lines, a lasting operational vulnerability.

Rising reliance on debt financing

A near 1.0 debt-to-equity and falling equity ratio indicate higher leverage. In a capital-intensive logistics business, elevated debt raises fixed interest costs and refinancing exposure, reducing financial flexibility to invest or weather demand downturns over the medium term.

Ritco Logistics Ltd. Business Overview & Revenue Model

Company Description

Ritco Logistics Limited provides logistics and supply chain management services in India. The company offers contract logistics, LTL and liquid transportation, warehouse and distribution, and fleet management services. It serves the textile, automobile, FMCG, pharmaceutical, electronic, petroleum, metal, mineral, and petrochemical industries through a fleet of 1,200 vehicles. The company was incorporated in 2001 and is based in Gurugram, India.

How the Company Makes Money

Ritco Logistics generates revenue through a diversified model that includes multiple key streams. Primarily, the company earns money by charging clients for transportation services, which encompasses freight forwarding and last-mile delivery fees. Additionally, RITCO provides warehousing solutions where clients pay for storage space and inventory management services. The company may also engage in logistics consulting, providing expertise to clients on optimizing their supply chain processes for a fee. Significant partnerships with major retailers and manufacturers further enhance its revenue, as RITCO often acts as the preferred logistics provider for these businesses, leading to long-term contracts that provide consistent income. Furthermore, technological advancements and efficient route planning contribute to lower operational costs, improving profit margins on logistics services.

Ritco Logistics Ltd. Financial Statement Overview

Summary

Ritco Logistics Ltd. shows strong revenue growth and improved profitability, with a solid income statement score of 85. However, the balance sheet score of 75 reflects rising debt levels, and the cash flow score of 60 highlights liquidity concerns due to negative free cash flow. Overall, the financial performance is robust but requires attention to cash flow management.

Income Statement

Ritco Logistics Ltd. has demonstrated strong revenue growth, increasing from 4,738 million in 2021 to 11,897 million in 2025. The gross profit margin has improved significantly over the years, reaching 9.25% in 2025. Net profit margin also shows a positive trend, rising to 3.55% in 2025, indicating enhanced profitability. However, the EBIT margin decreased slightly from 2024 to 2025, suggesting a need to manage operating expenses better. Overall, the income statement reflects a solid growth trajectory and improved profitability metrics.

Balance Sheet

The company has maintained a stable debt-to-equity ratio, which was 0.98 in 2025, reflecting a balanced approach to leveraging. Stockholders' equity has grown significantly, indicating financial stability. However, the equity ratio decreased slightly to 49.48% in 2025, suggesting increased reliance on debt financing. Return on equity improved to 13.08% in 2025, showing effective use of equity capital. Despite the growth in equity, the company's increasing debt levels could pose a risk if not managed carefully.

Cash Flow

Ritco Logistics Ltd. faced challenges in cash flow management, with the operating cash flow turning negative in 2025. The free cash flow has been consistently negative, reaching -1,154 million in 2025, indicating potential liquidity issues. The operating cash flow to net income ratio was negative, suggesting inefficiencies in converting income into cash. Despite strong revenue growth, the company needs to improve its cash flow management to support ongoing operations sustainably.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.92B	11.90B	9.33B	7.51B	5.93B	4.74B
Gross Profit	1.13B	1.09B	899.65M	613.72M	482.90M	285.71M
EBITDA	836.22M	897.87M	789.32M	551.69M	439.82M	335.40M
Net Income	431.28M	422.07M	329.93M	244.13M	162.78M	60.49M
Balance Sheet
Total Assets	0.00	6.52B	4.53B	3.65B	3.03B	2.50B
Cash, Cash Equivalents and Short-Term Investments	200.19M	200.19M	58.23M	28.18M	250.93M	130.24M
Total Debt	0.00	3.16B	2.60B	2.07B	1.73B	1.37B
Total Liabilities	-3.21B	3.31B	2.70B	2.16B	1.79B	1.42B
Stockholders Equity	3.21B	3.23B	1.83B	1.49B	1.24B	1.08B
Cash Flow
Free Cash Flow	0.00	-1.15B	-238.91M	-104.63M	-296.91M	31.37M
Operating Cash Flow	0.00	-160.41M	147.86M	102.35M	-290.99M	92.86M
Investing Cash Flow	0.00	-933.28M	-355.89M	-185.94M	63.38M	-17.14M
Financing Cash Flow	0.00	1.29B	329.46M	167.47M	222.44M	-114.24M

Ritco Logistics Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 273.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RITCO, the sentiment is Negative. The current price of 273.05 is above the 20-day moving average (MA) of 247.97, above the 50-day MA of 264.17, and below the 200-day MA of 273.24, indicating a bearish trend. The MACD of -9.52 indicates Positive momentum. The RSI at 32.79 is Neutral, neither overbought nor oversold. The STOCH value of 29.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RITCO.

Ritco Logistics Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RITCO	74 Outperform	₹6.89B	15.14	―	―	34.34%	2.00%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
PVSL	45 Neutral	₹7.71B	-23.83	―	0.42%	-0.11%	-159.33%
PAKKA	44 Neutral	₹4.19B	24.90	―	―	-11.28%	-62.38%
JITFINFRA	41 Neutral	₹7.44B	-10.52	―	―	-15.85%	-148.91%
SICALLOG	39 Underperform	₹5.91B	-400.61	―	―	76.34%	94.50%