About KSH Group
KSH Group is a publicly listed company based in Pune (India) founded in 2016, and was acquired by Morgan Stanley in February 2019. Third-party logistics services are provided by KSH Group in India. Its Indian entity Coral Logistics Assets (India) Private Limited reported revenue of ₹27.87 Cr.
Company details
KSH Group was established in 2016 in Pune, India, within the logistics sector. Third-party logistics services are delivered, encompassing supply chain coordination, transportation, and warehousing support. Operations are conducted primarily in India, serving diverse industries through established networks. The companys domain, kshgroup.in, facilitates client interactions and service inquiries. Focus remains on reliable logistics execution across regional markets.
- Headquarters Pune, India
- Stage Acquired
- Website kshgroup.in
- Social LinkedIn X
- Acquired by Morgan Stanley (Feb 2019)
- Legal Name Coral Logistics Assets (India) Private Limited
- Date of Incorporation 16 May, 2018
- Jurisdiction Khed, Maharashtra, India
- Market Cap₹6,956 Cr
KSHINTL · NSE
- Share Price₹1,029.20
+0.31% today
- Revenue₹3,107 Cr
FY 2025-26 · +61.1% YoY
- EBITDA₹191 Cr
Margin 6.2%
- Net Profit₹111 Cr
FY 2025-26 · +63.8% YoY
- P/E (TTM)47.0x
P/B 7.8x
- ROE19.9%
ROCE 21.2%
- Debt / Equity0.62
Interest cover 26.5x
- Investors
- Acquired byMorgan Stanley
(Feb 2019)
Associated legal entities of KSH Group
KSH Group operates through Coral Logistics Assets (India) Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Coral Logistics Assets (India) Private Limited CIN U45209PN2018PTC176650 | Active | 16 May 2018 | Khed, Maharashtra | ₹27.9 Cr | 4 | View details |
Investors in KSH Group
KSH Group has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Morgan Stanley.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Wealth management, investment advisory, and financial services are provided. | 1935 | morganstanley.com | New York, United States |
Investor details for KSH Group
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Board of directors of Coral Logistics Assets (India) Private Limited (KSH Group)
Coral Logistics Assets (India) Private Limited is the primary company behind KSH Group. The board of Coral Logistics Assets (India) Private Limited currently have 4 directors; the longest-serving is Souvik Mukherjee, appointed in 2022. 8 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Souvik Mukherjee DIN 02516840 | Director | 23 Dec 2022 | 3 yrs 10 mo | Coral Logistics Assets (India) Private Limited |
| Vipul DIN 09850001 | Director | 13 Jan 2023 | 3 yrs 10 mo | Coral Logistics Assets (India) Private Limited |
| Raghavendra Gajanan Bhat DIN 10418497 | Director | 19 Jan 2024 | 2 yrs 9 mo | Coral Logistics Assets (India) Private Limited |
| Rahul Ramesh DIN 10639400 | Additional Director | 21 Nov 2025 | 11 mo | Coral Logistics Assets (India) Private Limited |
People of KSH Group
3 people are tracked at KSH Group (2 in leadership, 1 in team).
| Name | Role | Group |
|---|---|---|
Khanak Jha | Assistant Vice President Human Resources | Leadership |
Sergio De | Chief Executive Officer | Leadership |
Venkatesh Mulay | Assistant Manager HR | Team |
Complete people profiles for KSH Group
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IPO & Listings of KSH Group
KSH Group is a publicly listed company on the NSE with ticker symbol KSHINTL in India. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- Listed onNSE: KSHINTL
- Listed entityKsh International Limited
Financials of KSH Group
Exchange-reported figures of Ksh International Limited, the listed company behind KSH Group (NSE: KSHINTL).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 3,107 | 1,928 | 1,383 | 1,049 | 871 | 470 |
| Revenue growth | +61.1% | +39.5% | +31.8% | +20.6% | +85.3% | - |
| EBITDA | 191 | 123 | 71.99 | 51.17 | 50.77 | 24.77 |
| EBITDA margin | +6.2% | +6.4% | +5.2% | +4.9% | +5.8% | +5.3% |
| Profit before tax | 146 | 90.42 | 50.63 | 35.47 | 39.93 | 18.15 |
| Net profit | 111 | 67.98 | 36.44 | 26.57 | 29.43 | 14.55 |
| Net profit margin | +3.6% | +3.5% | +2.6% | +2.5% | +3.4% | +3.1% |
| EPS (₹) | 16.25 | 11.97 | 657.34 | 468.37 | 514.85 | 255.42 |
| Balance sheet | ||||||
| Total assets | 1,130 | 666 | 446 | 323 | 317 | 227 |
| Net worth | 808 | 299 | 231 | 194 | 170 | 141 |
| Total debt | 321 | 366 | 214 | 129 | 146 | 85.84 |
| Cash & bank | 84.48 | 11.01 | 17.76 | 6.82 | 7.04 | 12.99 |
| Net working capital | 705 | 402 | 298 | 208 | 211 | 138 |
| Cash flow | ||||||
| Cash from operations | (64.97) | (9.46) | (17.23) | 62.09 | (44.43) | 4.69 |
| Cash from investing | (179) | (118) | (38.81) | (19.97) | (12.52) | (1.21) |
| Cash from financing | 306 | 123 | 67.43 | (40.61) | 51.00 | 6.43 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,320 | 1,164 | 1,018 | 818 | 712 | 559 | 508 | 516 |
| Revenue growth (YoY) | +85.3% | +108.4% | +100.5% | +58.5% | +50.7% | +29.3% | - | - |
| Other income | 5.55 | 8.19 | 9.27 | 4.69 | 3.56 | 3.89 | 1.98 | 4.40 |
| Total expenses | 1,230 | 1,090 | 962 | 770 | 666 | 518 | 473 | 476 |
| EBITDA | 89.70 | 74.38 | 56.34 | 47.75 | 46.11 | 40.28 | 35.18 | 40.22 |
| EBITDA margin | +6.8% | +6.4% | +5.5% | +5.8% | +6.5% | +7.2% | +6.9% | +7.8% |
| Depreciation | 9.15 | 8.38 | 7.71 | 7.03 | 3.87 | 3.33 | 3.47 | 4.65 |
| Interest | 22.25 | 17.28 | 13.23 | 14.23 | 9.26 | 7.31 | 7.85 | 7.18 |
| Profit before tax | 63.85 | 56.91 | 44.67 | 31.18 | 36.54 | 33.53 | 25.84 | 32.79 |
| Tax | 15.90 | 14.68 | 10.14 | 7.85 | 6.94 | 10.85 | 7.38 | 7.05 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,320 | 1,164 | 1,018 | 818 | 712 | 559 | 508 | 516 |
| Revenue growth (YoY) | +85.3% | +108.4% | +100.5% | +58.5% | +50.7% | +29.3% | - | - |
| Other income | 5.55 | 8.19 | 9.27 | 4.69 | 3.56 | 3.89 | 1.98 | 4.40 |
| Total expenses | 1,230 | 1,090 | 962 | 770 | 666 | 518 | 473 | 476 |
| EBITDA | 89.70 | 74.38 | 56.34 | 47.75 | 46.11 | 40.28 | 35.18 | 40.22 |
| EBITDA margin | +6.8% | +6.4% | +5.5% | +5.8% | +6.5% | +7.2% | +6.9% | +7.8% |
| Depreciation | 9.15 | 8.38 | 7.71 | 7.03 | 3.87 | 3.33 | 3.47 | 4.65 |
| Interest | 22.25 | 17.28 | 13.23 | 14.23 | 9.26 | 7.31 | 7.85 | 7.18 |
| Profit before tax | 63.85 | 56.91 | 44.67 | 31.18 | 36.54 | 33.53 | 25.84 | 32.79 |
| Tax | 15.90 | 14.68 | 10.14 | 7.85 | 6.94 | 10.85 | 7.38 | 7.05 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 3,107 | 1,928 | 1,383 | 1,049 | 871 | 470 |
| Revenue growth | +61.1% | +39.5% | +31.8% | +20.6% | +85.3% | - |
| Other income | 21.41 | 9.90 | 7.68 | 7.14 | 5.07 | 6.03 |
| Total expenses | 2,916 | 1,805 | 1,311 | 998 | 820 | 445 |
| Employee cost | 52.89 | 39.71 | 33.73 | 23.83 | 19.05 | 13.89 |
| EBITDA | 191 | 123 | 71.99 | 51.17 | 50.77 | 24.77 |
| EBITDA margin | +6.2% | +6.4% | +5.2% | +4.9% | +5.8% | +5.3% |
| Depreciation | 21.94 | 14.00 | 10.95 | 8.19 | 6.02 | 5.88 |
| Interest | 44.95 | 28.61 | 18.09 | 14.65 | 9.89 | 6.77 |
| Profit before tax | 146 | 90.42 | 50.63 | 35.47 | 39.93 | 18.15 |
| Tax | 35.79 | 22.44 | 13.27 | 8.86 | 10.67 | 3.62 |
| Net profit | 111 | 67.98 | 36.44 | 26.57 | 29.43 | 14.55 |
| Net profit margin | +3.6% | +3.5% | +2.6% | +2.5% | +3.4% | +3.1% |
| EPS (₹) | 16.25 | 11.97 | 657.34 | 468.37 | 514.85 | 255.42 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 33.88 | 28.41 | 5.68 | 5.68 | 5.68 | 5.68 |
| Reserves & surplus | 774 | 270 | 225 | 188 | 165 | 136 |
| Shareholders' funds (net worth) | 808 | 299 | 231 | 194 | 170 | 141 |
| Secured loans | 311 | 359 | 185 | 120 | 146 | 85.84 |
| Unsecured loans | 10.02 | 7.17 | 29.57 | 8.88 | 0.00 | 0.00 |
| Total debt | 321 | 366 | 214 | 129 | 146 | 85.84 |
| Total liabilities | 1,130 | 666 | 446 | 323 | 317 | 227 |
| Assets | ||||||
| Gross block | 424 | 223 | 215 | 173 | 145 | 138 |
| Net block | 313 | 133 | 140 | 107 | 87.79 | 86.85 |
| Capital work in progress | 52.08 | 108 | 7.42 | 9.42 | 10.56 | 1.11 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 425 | 211 | 133 | 109 | 101 | 40.06 |
| Sundry debtors | 333 | 224 | 159 | 109 | 130 | 112 |
| Cash & bank balances | 84.48 | 11.01 | 17.76 | 6.82 | 7.04 | 12.99 |
| Loans & advances | 47.15 | 29.00 | 17.65 | 10.71 | 19.53 | 14.46 |
| Total current assets | 889 | 475 | 327 | 236 | 258 | 180 |
| Total current liabilities | 184 | 72.68 | 29.42 | 28.08 | 46.90 | 42.07 |
| Net working capital | 705 | 402 | 298 | 208 | 211 | 138 |
| Total assets | 1,130 | 666 | 446 | 323 | 317 | 227 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 10.37 | 15.62 | 4.23 | 2.72 | 12.99 | 3.08 |
| Net cash from operating activities | (64.97) | (9.46) | (17.23) | 62.09 | (44.43) | 4.69 |
| Net cash from investing activities | (179) | (118) | (38.81) | (19.97) | (12.52) | (1.21) |
| Net cash from financing activities | 306 | 123 | 67.43 | (40.61) | 51.00 | 6.43 |
| Net change in cash | 61.75 | (5.25) | 11.39 | 1.51 | (5.95) | 9.91 |
| Closing cash | 84.48 | 11.01 | 17.76 | 6.82 | 7.04 | 12.99 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +61.1% | +39.5% | +31.8% | +20.6% | +85.3% | - |
| EBITDA growth | +55.4% | +71.0% | +40.7% | +0.8% | +105.0% | - |
| PBT growth | +61.4% | +78.6% | +42.7% | -11.2% | +120.0% | +9997.0% |
| Net income growth | +63.8% | +86.6% | +37.2% | -9.7% | +102.3% | - |
| Revenue CAGR (3Y) | +43.6% | +30.4% | +43.3% | - | - | - |
| EBITDA CAGR (3Y) | +55.2% | +34.4% | +42.7% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +3.5% | +3.5% | +2.7% | +2.5% | +3.4% | +3.1% |
| Return on capital employed | +21.3% | +21.4% | +17.9% | +15.7% | +18.3% | +11.0% |
| Return on net worth | +19.9% | +25.7% | +17.6% | +14.6% | +18.8% | +10.3% |
| Debt / equity | 0.62 | 1.10 | 0.81 | 0.76 | 0.74 | 0.61 |
| Long-term debt / equity | 0.13 | 0.30 | 0.13 | 0.06 | 0.04 | 0.05 |
| Interest cover | 26.53 | 26.22 | 29.64 | 34.09 | 22.10 | 35.84 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 9.61 | 8.80 | 7.13 | 6.61 | 6.15 | 3.40 |
| Inventory turnover | 9.77 | 11.21 | 11.41 | 9.95 | 12.30 | 11.73 |
| Debtors turnover | 11.16 | 10.07 | 10.30 | 8.77 | 7.19 | 4.18 |
| EPS (₹) | 16.25 | 11.97 | 657.34 | 468.37 | 514.85 | 255.42 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 119.27 | 52.54 | 4,064.52 | 3,408.22 | 2,999.63 | 2,484.77 |
Timeline of KSH Group
2 dated milestones of KSH Group across 3 years, from founding to its latest funding, stage changes and deals.
- Founded KSH Group is founded.
- Exit Acquired by Morgan Stanley.
Web traffic of KSH Group
The website of KSH Group (kshgroup.in) receives about 7.3K visits a month.
- Monthly visits7.3K
▲ 283.5% vs previous month
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Frequently Asked Questions about KSH Group
KSH Group was founded in 2016.
KSH Group is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
The primary company behind KSH Group, Coral Logistics Assets (India) Private Limited, reported revenue of ₹27.87 Cr for FY 2024, up 4% year on year.
KSH Group was established in 2016 in Pune, India, within the logistics sector. Third-party logistics services are delivered, encompassing supply chain coordination, transportation, and warehousing support. Operations are conducted primarily in India, serving diverse industries through established networks. The companys domain, kshgroup.in, facilitates client interactions and service inquiries. Focus remains on reliable logistics execution across regional markets.
Yes, KSH Group is publicly traded on NSE under the ticker symbol KSHINTL.
KSH Group has 1 investor. Key investors include Morgan Stanley.
KSH Group operates through Coral Logistics Assets (India) Private Limited.
Yes. KSH Group was acquired by Morgan Stanley in February 2019.
The legal entities of KSH Group currently have 4 directors, including Souvik Mukherjee, Raghavendra Gajanan Bhat, Rahul Ramesh and others.