BlackBuck Reports 38% YoY Growth in Q1 FY27 Total Income; EBITDA Rises 23% to Nearly Rs. 50 Crore, Monthly average transacting customers increased 13% to nearly 900,000

Published at : Sep 13, 2026 11:42 AM (IST)

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BlackBuck Reports 38% YoY Growth in Q1 FY27 Total Income; EBITDA Rises 23% to Nearly Rs. 50 Crore, Monthly average transacting customers increased 13% to nearly 900,000

BlackBuck reported strong Q1 FY27 performance, with total income growing 38% year-on-year and EBITDA increasing 23%, reaching close to Rs. 50 crore. PAT rose 25% to Rs. 42 crore. Monthly average transacting customers increased 13% to nearly 900,000, while customers using two or more services grew about 20%. Tolling GTV increased 16% YoY despite macro headwinds affecting logistics movement. The company also reported strong momentum in telematics, Super Loads and vehicle finance, with management maintaining its strategy of building an integrated digital platform for truck operators.

BlackBuck  is a platform providing payments, telematics, loads marketplace and vehicle financing services. These solutions aim to digitally empower truck operators and help them operate their business effectively and efficiently.

The Print Times

BlackBuck reported a strong operating and financial performance for the first quarter of FY27, with the company continuing to scale its digital platform for truck operators despite macroeconomic headwinds affecting logistics movement.

Speaking during the Q1 FY27 earnings conference call, Rajesh Kumar Naidu Yabaji, Chairman, Managing Director and CEO, BlackBuck, said the company recorded 38% year-on-year growth in total income, while EBITDA increased 23% year-on-year, reaching close to Rs. 50 crore during the quarter. Profit After Tax (PAT) grew 25% year-on-year to Rs. 42 crore.

The company also recorded continued improvement across key platform health indicators. BlackBuck had close to 900,000 monthly average transacting customers during the quarter, representing 13% YoY growth. Customers using two or more services on the platform increased by nearly 20% YoY, indicating deeper engagement with the company's offerings.

Tolling GTV increased 16% YoY, while the number of tolling transactions grew 12% YoY, although transactions declined 3% sequentially due largely to macro headwinds.

Yabaji said the logistics sector faced a difficult April, particularly in terms of movement, but witnessed a decent recovery towards the end of May and through June. This recovery helped the company return to business-as-usual operations and deliver strong results during the quarter.

He said BlackBuck's strategy continues to focus on disrupting and organising the trucking space by developing offerings around the complete lifecycle of a truck operator. The platform currently provides services including tolling, vehicle tracking and fuel payments, while the company continues to develop and introduce new offerings.

The BlackBuck app continued to scale in both engagement and user breadth, reaching close to 900,000 transacting customers. User engagement remained strong, with usage hovering around 45 minutes daily. The company also continues to maintain a broad distribution presence across relevant trucking villages in the country, enabling it to onboard and service customers directly in the market.

Tolling and core business maintain growth

BlackBuck's revenue from operations at the gross level increased 42% YoY, while sequential growth was close to 10%. Net revenue grew 25% YoY, with the contribution margin remaining at around 93%, reflecting the quality of the business model.

Adjusted EBITDA increased from Rs. 47 crore to Rs. 55 crore, representing 16% YoY growth.

Within the core businesses, revenue increased around 21% YoY, despite negative industry trends. Tolling continued to grow at 16% YoY.

Yabaji highlighted that BlackBuck's tolling GTV growth has remained stronger than broader industry trends, supported by the platform's value proposition and widespread distribution. He said the company expects secular trends in tolling to return as India continues to grow and invest in infrastructure.

Telematics business records highest device sales

The company reported strong momentum in its telematics business, with the highest quarterly sales of new devices recorded during the quarter.

The record sales included AI-based devices, non-AI devices and other specialised tracking and telematics products.

Yabaji said the company onboards customers with an annual subscription revenue model, meaning most of the revenue from newly sold devices is spread over 12 months rather than being recognised immediately. As a result, the strength of the current device sales is expected to become more visible in revenues over the coming quarters.

He also highlighted the potential profitability of future renewals, which carry a very high contribution margin and are expected to have a strong flow-through to EBITDA.

The company expects the payments business to continue compounding strongly, while the increasing sales of telematics devices are expected to support revenue growth and profitability in the coming quarters.

Growth businesses accelerate sharply

BlackBuck's growth businesses recorded approximately 2.5x growth year-on-year at the gross level, along with an acceleration in sequential growth.

The company said its growth businesses, comprising Super Loads and vehicle finance, grew 20% sequentially in the previous quarter. During Q1 FY27, sequential growth accelerated to 44%.

Super Loads benefited from strong growth in both existing and newer cities. According to Yabaji, the business is evolving as an AI-led business, with productivity gains delivered during the quarter supporting the acceleration.

The newer cities have also started gaining momentum, providing further support to the Super Loads business.

Core business continues to generate profitability

BlackBuck said its core businesses delivered another record quarter from a profitability and cash-flow perspective despite the macroeconomic headwinds.

The company continues to see an operating leverage trend in its core businesses, with 60%-85% of revenue growth converting into EBITDA.

At the same time, the company continues to invest in Super Loads, with investments being calibrated and increased progressively as the business expands.

Yabaji also reiterated that vehicle finance is expected to converge into profitability by the end of FY27, with the conversion continuing to flow through.

He said the company's performance during the quarter remained broadly consistent with the strategy outlined over the previous four to six quarters, with stronger signs of growth compounding and increasing validation of the strategy.

Q1 FY27 financial performance

The company's Q1 FY27 performance was summarised as follows:
• Total income: Up 38% YoY 
• Revenue from operations: Up 42% YoY 
• Core business growth: 21% YoY 
• Growth businesses: 153% YoY 
• Net revenue: Up 25% YoY 
• Contribution margin: Around 93% 
• Adjusted EBITDA: Rs. 55 crore, up 16% YoY 
• PAT: Rs. 42 crore, up 25% YoY 
• Monthly average transacting customers: Nearly 900,000, up 13% YoY 
• Customers using two or more services: Up nearly 20% YoY 
• Tolling GTV: Up 16% YoY 
• Tolling transactions: Up 12% YoY 

Yabaji clarified that the sequential decline in reported PAT from Rs. 66 crore in Q4 FY26 to Rs. 42 crore in Q1 FY27 was largely attributable to the deferred tax line item recognised in the previous quarter. On an adjusted basis, after excluding the deferred tax impact, the company's PAT remains broadly in line with EBITDA and PBT performance.

BlackBuck said it remains focused on scaling its core payments and telematics businesses while investing in Super Loads and working towards profitability in vehicle finance. The company believes the continued expansion of its platform, deeper customer engagement and increasing adoption of multiple services will support its next phase of growth.
 

Published at : Sep 13, 2026 11:42 AM (IST)

Total Views : 13