BlackBuck Allots Another 1.9 Lakh Shares Under ESOP Schemes

SUMMARY

Shares of BlackBuck ended Thursday's (March 13) trading session 1.26% lower at INR 405.05 apiece on the BSE

As per the stock’s closing price today, the newly allotted equity shares translated are worth nearly 8 Cr

BlackBuck posted a consolidated net profit of INR 29.9 Cr in Q3 FY25 on operating revenuee of INR 113.98 Cr

Zinka Logistics Solutions, the parent of logistics major BlackBuck, has allotted 1.91 Lakh equity shares under the employee stock option plan (ESOP).

In an exchange filing today, the company informed that its nomination and remuneration committee has approved the allotment of 1,91,833 equity shares having a face value of INR 1 each, as fully paid-up to identified employees.

Of these 1.91 Lakh equity shares, 1.41 Lakh shares were issued under ESOP 2016 while the remaining 77.82K shares were offered under ESOP 2019.

Shares of BlackBuck ended Thursday’s (March 13) trading session 1.26% lower at INR 405.05 apiece on the BSE.

As per the stock’s closing price, the newly allotted equity shares are worth nearly INR 8 Cr.

Following the allotment, the total paid-up equity share capital of the company has increased to INR 17.74 Cr from INR 17.72 Cr earlier.

Today’s allotment is the second ESOP allotment made by the company this month. Just over a week back, BlackBuck allotted 5.25 Lakh equity shares under ESOP 2016 and 2.10 Lakh under ESOP 2019, aggregating to 7.36 Lakh equity shares.

Last month, it received two tax notices totalling INR 14.2 Cr from tax authorities in Bengaluru.

Founded in 2015 by IIT Kharagpur alumni Rajesh Yabaji and Chanakya Hridaya, along with Rama Subramaniam, BlackBuck is a B2B marketplace connecting truck operators and businesses with shipping requirements in real time through its tech-enabled platform.

While BlackBuck started its journey as a truck aggregator, it has since shifted its focus to selling value-added services such as FASTag, fuel cards, vehicle tracking software, subscriptions and loans.

On the financial front, the logistics major its consolidated net loss jump 145% to INR 48.03 Cr in Q3 FY25 from INR 19.57 Cr in the year-ago quarter, led by an IPO expense of INR 8.45 Cr and a share-based payment expense of INR 69.44 Cr in Q3.

If not for these exceptions, the company would have posted a profit of INR 29.86 Cr from its continuing operations. Meanwhile, its revenue from operations surged 41% to INR 113.98 Cr in Q3 FY25 from INR 80.86 Cr in previous year.

On the stock market front, the company debuted on Dalal Street in November last year, listing at a premium of 2.89% at INR 279.05 on the BSE. The stock has given a negative return of 13.6% in the last month and 11% YTD at the current market price, while it is 45% above its listing price on BSE.