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BlackBuck Ltd (BLACKBUCK)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544288 NSE: BLACKBUCK Logistics | Small Cap | BlackBuck Share Price

₹593.60 5.60 (0.95%)

As on 31-Aug'26 16:59

BlackBuck Ltd (BLACKBUCK)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544288 NSE: BLACKBUCK Logistics | Small Cap | BlackBuck Share Price

₹593.60 5.60 (0.95%)

As on 31-Aug'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹10,711 Cr.
Current Price
₹593.6
52-Week Low / High
₹495 / 747
TTM EPS
₹9.4
TTM Sales
₹701 Cr.
Book Value per Share
₹77.9
P/E Ratio
62.77
Industry PE
39.2
Price to Book (P/B)
7.55
Higher than its 5-year historical median
Price to Sales (P/S)
15.28
Lower than its 5-year historical median
EV/EBITDA
42.87
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
13.27%
Outperforms industry median
Return on Capital Employed (ROCE)
13.05%
In line with industry median
Return on Assets (ROA)
12.49%
Operating Profit Margin
26.3%
Net Profit Margin
25.54%
Gross Profit Margin
35.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
51.91%
Operating Profit Growth (1 Year)
-
84.96%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
25.00%
Pledged shares (%) of Promoter's holding (%)
1.38%
Reserves
₹1,400 Cr.
Equity
₹18.2 Cr.
Face Value
₹1
All Time Low / High
₹248.25 / 747.35

BlackBuck stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is BlackBuck Ltd a good quality company?
BlackBuck Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does BlackBuck Ltd performance compare with that of its Peers?
Q.1 Revenue growth of BlackBuck Ltd vs industry peers?
BlackBuck Ltd revenue CAGR is -5.56%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of BlackBuck Ltd?
Promoters hold 25.00% of the BlackBuck Ltd, with 1.38% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of BlackBuck Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -7.15% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
BlackBuck Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % -28%-22.6%-35%-32.3%-20.4%-36%-36.8%-33%-32.7%13.1%-
Value Creation
Index
-3.1-2.7-3.6-3.4-2.5-3.7-3.7-3.4-3.40.0-

Growth Parameters

Sales 5648891,7912,230853767176296422641701
Sales YoY Gr.-57.7%101.5%24.5%-61.7%-10.1%-77.1%68.7%42.4%51.9%-
Adj EPS -15.2-20.7-60.8-80.5-41.3-52.2-41.2-28.212.69.29.4
YoY Gr.-NANANANANANANANA-27.2%-
BVPS (₹) 55.13478.382.938.276.124.527.861.675.777.9
Adj Net
Profit
-86.5-117-345-457-234-295-233-160223166171
Cash Flow from Ops. -179-225-492-43859.2-74.8-12557.784.9192-
Debt/CF from Ops. -0.5-1.2-1.1-1.26.7-2.5-1.32.900-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 1.4%-5.6%54%51.9%
Adj EPS NANANA-27.2%
BVPS3.6%14.6%45.8%23%
Share Price - - - -6.5%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-36.3-46.1-76.2-75.2-58.8-67.3-49.5-48.228.812.512.2
Op. Profit
Mgn %
-14.5-12.2-17.1-18.6-22.5-36.9-127.8-52.321.626.325.3
Net Profit
Mgn %
-15.4-13.2-19.3-20.5-27.4-38.5-132.8-53.952.82624.4
Debt to
Equity
0.31.41.21.21.80.41.21.100-
Working Cap
Days
821029299235218708232205275223
Cash Conv.
Cycle
65786567146107321772-7164

Valuation of BlackBuck - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.001.38
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales5648891,7912,230853767176296422641
Operating Expenses + 6459972,0972,6441,0461,050414463331472
Manufacturing Costs17162943071310998119228
Material Costs0000000000
Employee Cost 395986171116224216287146155
Other Costs 5909221,9822,47090011490786589
Operating Profit -81-109-306-414-192-283-239-16691169
Operating Profit Margin (%) -14.5%-12.2%-17.1%-18.6%-22.5%-36.9%-135.0%-56.1%21.6%26.3%
Other Income + 3131254273620273661
Exceptional Items 00000000-374-4
Interest 820487657314333
Depreciation 1139111520253452
Profit Before Tax -87-117-345-446-234-293-243-168-283171
Tax 00000000-2457
Profit After Tax -87-117-345-446-234-293-243-168-39164
PAT Margin (%) -15.4%-13.1%-19.3%-20.0%-27.4%-38.3%-138.0%-56.5%-9.2%25.5%
Adjusted EPS (₹)-15.7-21.2-62.6-80.9-41.2-51.7-44.1-30.4-2.29.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 3041874314572174321351531,0921,376
Share Capital 000000001818
Reserves 3031874314572174321351531,0741,358
Debt +8725248748033218516616900
Long Term Debt039718564120000
Short Term Debt8721341639626817316616900
Minority Interest0000000000
Trade Payables7173921161816151737
Others Liabilities 9333711852112503373114554
Total Liabilities 4074891,3281,1437768846546481,1551,468

Fixed Assets

Net Fixed Assets +248231521313945116
Gross Block36133739608298131251
Accumulated Depreciation125142439515887135
CWIP 0000000002
Investments 092613055624322275109197
Inventories0000000000
Trade Receivables147256436438280198127212826
Cash Equivalents flag 227159474192226180160328662526
Others Assets 3161150184199242115185311600
Total Assets 4074891,3281,1437768846546481,1551,468
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -179-225-492-43859-75-1255885192
PBT -87-117-345-446-234-293-297-194-254171
Adjustment 18301281673914613419834920
Changes in Working Capital -104-129-259-142145683647-2317
Tax Paid -6-10-16-182363712-16
Cash Flow From Investing Activity + -146105-274-22182-21616911-476-210
Capex -2-3-7-9-415-25-24-43-112
Net Investments -14795-265-34250-1815444-508-49
Others 212-221-64-50141-975-49
Cash Flow From Financing Activity + 3021151,060173-213272-27-18361-5
Net Proceeds from Shares 221083900508005500
Net Proceeds from Borrowing 000041-205-12000
Interest Paid -7-17-44-66-53-29-11-10-5-3
Dividend Paid 0000000000
Others 87132265239-202-2-5-8-184-2
Net Cash Flow -23-6294-28727-191751-31-22
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)-36.64-47.59-111.55-100.33-69.38-90.48-85.82-116.43-6.2113.27
ROCE (%)-27.96-22.55-35-32.3-20.39-35.97-36.83-32.95-32.7413.05
Asset Turnover Ratio1.921.981.971.80.890.920.230.460.470.49
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/AN/AN/A1.17
Working Capital Days
Receivable Days68.5082.7070.5071.50153.50113.70337.5090.9021.2015.40
Inventory Days0000000000
Payable Days0000000000

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BlackBuck Ltd FAQs

The current trading price of BlackBuck on 31-Aug-2026 16:59 is ₹593.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Aug-2026 the market cap of BlackBuck stood at ₹10,711.4 Cr

The latest P/E ratio of BlackBuck as of 30-Aug-2026 is 62.77.

The latest P/B ratio of BlackBuck as of 30-Aug-2026 is 7.55.

The 52-week high of BlackBuck is ₹747.4 and the 52-week low is ₹495.3.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of BlackBuck is ₹701 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that BlackBuck Ltd is a below average quality company.

The key valuation ratios of BlackBuck Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of BlackBuck Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About BlackBuck Ltd

Zinka Logistics Solutions Limited was incorporated as ‘Zinka Logistics Solutions Private Limited’ at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated April 20, 2015, issued by the Registrar of Companies. Subsequently, the company was converted to a public limited company and the name of the company changed to ‘Zinka Logistics Solutions Limited’ pursuant to a Shareholders’ resolution dated June 11, 2024 and a fresh certificate of incorporation dated June 19, 2024 was issued by the Registrar of Companies.

Zinka Logistics Solution is India’s largest digital platform for truck operators. India’s growing economy needs the support of robust logistical capabilities and small and medium size truck operators are the backbone of logistics in the country. These truck operators are served through value chains which are unorganized and fragmented, making their operations inefficient. It is on a mission to digitally empower India’s truck operators, helping them manage their business and grow their income. Using its platform, its customers (primarily comprising truck operators) digitally manage payments for tolling and fueling, monitor drivers and fleets using telematics, find loads on its marketplace and get access to financing for the purchase of used vehicles.

Truck operators use the BlackBuck mobile application (the BlackBuck App) for their diverse business needs. Its offerings solve critical problems for its customers and form an integral part of their daily lives. The needs of the trucking industry are very specific and the truck operator's demography in India is unique. It has built its offerings and distribution strategy specifically for these users and the industry, and this is the key underlying reason for the strong truck operator engagement on the BlackBuck App and the market share it possess. The company follows an omnichannel customer onboarding and servicing strategy, which is made specifically for the demography of its customer base. It has a digital-led marketing strategy which provides awareness of its solutions and brand to customers. Using a combination of an on-ground sales force, channel partners and tele sales it supports customers through their entire onboarding process. 

Business area of the company 

The company is India’s largest digital platform for truck operators. Using its platform, its customers (primarily comprising truck operators) digitally manage payments for tolling and fueling, monitor drivers and fleets using telematics (i.e., vehicle tracking and fuel monitoring solutions), find loads on its marketplace and get access to financing for the purchase of used vehicles.

Awards, accreditations and recognitions

  • 2018: Zee Business Company of the Year (Logistics).
  • 2018: CNBC TV18 Young Turk Start-up of the year.
  • 2019: Frost and Sullivan Indian Long-Haul Freight Brokerage Industry Entrepreneurial Company of the Year.
  • 2020: Venture Capital Deal of the year awarded by Mint.
  • 2022: Tech Circle / Mint Digital business Transformation Award in the category of Good Business for Social Impact.
  • 2022: Certified as a ‘Great Place to Work’ by ET.
  • 2023: ET Top 50 Companies with Great Managers.

History and milestones

  • 2015: Incorporation of the company.
  • 2015: First Institutional fund raise led by Accel India IV (Mauritius) Limited.
  • 2023: Received NBFC license for subsidiary BlackBuck Finserve Private Limited.
  • 2024: Crossed Rs 200 crore in revenue.

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