Why Isn’t This Logistics Player Turning Volume Growth Into Bigger Gains?

Posted by: Aamir Hayat Like: 0 Post Date: April 27, 2026

Why Isn’t This Logistics Player Turning Volume Growth Into Bigger Gains?

Ticker: Service Long March Growth Limited SLGL
Analyst Briefing Date: February 17, 2026

This article reviews the latest corporate briefing of SLGL, focusing on earnings performance, rapid logistics expansion, delivery volume growth, and management’s scaling targets through 2026.

📢 Announcement: You can now access our services and similar analyses by opening an account with us via JS Global

Don't miss:

What did the management say?

Management highlighted strong momentum in its Trax logistics platform, where daily deliveries have expanded sharply from 20,000 in mid-2025 to around 42,000–45,000 currently. The company said this growth is being supported by a nationwide network spanning more than 300 cities and over 100 last-mile hubs, strengthening its reach across key markets. The company also emphasized capacity building and innovation. Its active commercial fleet currently stands at 170–180 vehicles, while a pilot electric vehicle program has been launched in Karachi to test last-mile efficiency and environmental benefits. Management indicated that the outcome of this pilot will guide any broader national EV rollout.

What did the numbers say?

Financial performance showed gradual improvement, with CY24 EPS rising to PKR 2.43 from PKR 2.13 in CY23. Quarterly earnings also improved, with 3QCY25 EPS reaching PKR 0.65 versus PKR 0.59 in 3QCY24, indicating steady underlying momentum alongside business expansion. Market indicators show the stock trading at PKR 19.58, with a market capitalization of PKR 8.25 billion. The company has a total share base of 421.79 million shares and a free float of 104.39 million. Over the last year, the stock traded between PKR 26.50 and PKR 12.70, reflecting a broad valuation range during its scaling phase.

What should investors expect going forward?

Management has set an aggressive target of reaching 100,000 daily deliveries by the end of calendar year 2026, implying substantial further growth from current levels. To support this expansion, the commercial vehicle fleet is expected to rise to more than 284 units over the same period. Going forward, the company’s focus remains on using its larger fleet, hub network, and expanding geographic presence to capture additional market share in transport and last-mile delivery. The EV pilot may also become an important strategic lever if operating results support wider adoption.

📢 Announcement: We're on WhatsApp – Join Us There!

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →