EXIMROUTES
Exim Routes financials
- Market cap
- ₹200 Cr
- Sector
- Forest Materials
- Calls analysed
- 1
EXIMROUTES Q4 FY26
What went well
- Revenue for FY26 grew 72% YoY to ₹207 crores, up from ₹121 crores in FY25.
- Profit after tax for FY26 grew 35% YoY to ₹10.2 crores.
- Core trading margin (gross profit from operations) improved by 3 percentage points, from 19.4% to 22.4%.
What to watch
- EBITDA margin compressed from 8.5% to 6.8% in FY26, primarily due to higher logistics costs and a new low-commission working capital model.
- Operating cash flow was negative ₹19 crores in FY26, widening from negative ₹5 crores in FY25, driven by growth and expanded supply advances.
What Exim Routes Limited does
EXIM Routes acts as an intermediary connecting global recyclable-paper sources with the fragmented Indian paper recycling industry, sourcing material across more than 25 countries. It earns trading margins on imported recyclable paper handled through its own logistics and supply chain. Its proprietary ERIS (EXIM Routes Intelligence System) platform gives real-time visibility into inventory and streamlines the sales process from days to minutes. The company operates through subsidiaries in Singapore, UK, US and Germany to source material and serve mills across regions, including Europe and Africa.
Segments
- Recyclable paper import trading
- ERIS platform inventory visibility
- ~1 million tons/yr (~$300 million annually)
- Share of Indian import market visible via ERIS
- 20%
- Countries integrated into ERIS sourcing data
- 25+
- Annual container handling
- ~6,000 containers
- International subsidiaries
- 4 (Singapore, UK, US, Germany)
Guidance record · Q4 FY26
what the last two calls moved 7 tracked 0 delivered 0 missed 7 open- Revenue Growth open said Q4 FY26 Promised: 30% to 50% for FY27 Q4 FY26: For the full-year FY27, our business target is 30% to 50% of revenue growth, top line and bottom line, aiming to hit 300 crores of revenue at the upper end.
All 7 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
| Line item | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 47 | 74 | 93 | 114 |
| EBITDA | 4 | 6 | 4 | 10 |
| Net profit | 2 | 5 | 3 | 7 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −30.0% YTD
YTD: ₹152.75 on 1 Jan 2026 → ₹106.9. High ₹270.05 (9 Jan 2026), low ₹100.45 (11 Jun 2026).
How the price took the results
close before → close after
- Q4 FY26
- +3.5%
- 8 Jun
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹9 Cr |
| Reserves | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹4 Cr | ₹18 Cr | ₹59 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr | ₹9 Cr | ₹16 Cr |
| Other liabilities | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹12 Cr | ₹21 Cr | ₹23 Cr |
| Total liabilities | ₹2 Cr | ₹3 Cr | ₹7 Cr | ₹21 Cr | ₹54 Cr | ₹108 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹7 Cr | ₹10 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹7 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹2 Cr | ₹2 Cr | ₹6 Cr | ₹19 Cr | ₹47 Cr | ₹92 Cr |
| Total assets | ₹2 Cr | ₹3 Cr | ₹7 Cr | ₹21 Cr | ₹54 Cr | ₹108 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Dec 2025, DIIs trimmed −6.05 pp while the public added +5.66 pp. The shareholder count shrank 50% to 397.
- Promoters
- 52.6%
- FIIs
- 7.7%
- DIIs
- 0.3%
- Public
- 39.4%
Since Dec 2025
- DIIs −6.05 pp
- Public +5.66 pp
- Promoters +0.20 pp
Who bought this quarter
since Dec 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Moneyplant Gold & Jewellery Trading L.L.C Corporate newly disclosed 1.89% held
- Manish Goyal +0.20 pp 46.76% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Exim Routes Limited above SEBI's 1% disclosure line, and what changed since Dec 2025.
| Holder | Stake | Change |
|---|---|---|
| Manish Goyal | 46.76% | +0.20 pp |
| Pine Oak Global Fund FPI fund | 4.05% | unchanged |
| Yogesh Goyal | 2.56% | unchanged |
| Sushila Jora | 2.04% | unchanged |
| Moneyplant Gold & Jewellery Trading L.L.C Corporate | 1.89% | newly disclosed |
| Prem Lata Goyal | 1.28% | unchanged |
| Eminence Global Fund Pcc- Eubilia Capital Partners FPI fund | 1.22% | unchanged |
| Manju | 0.00% | unchanged |
| Krishan Kumar Jora | 0.00% | unchanged |
| Dev Trading Company | 0.00% | unchanged |
| Ache Log Baniye CommunitynManagement Private Limited | 0.00% | unchanged |
| C A G R & Co LLP | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Exim Routes Limited
Guides on how to read this kind of business and the numbers that matter.