Top 20 Logistics Companies in India by Revenue (FY2026)

Key Highlights

• Adani Ports and SEZ led FY2026 with approx. ₹38,736 crore in revenue from operations.
• Shadowfax grew fastest among the 20, up 69.1% year on year.
• India's logistics cost stood at 7.97% of GDP in 2023-24.
• Every company figure comes from audited FY2026 results, with a source for each row.

Which Are the Top Logistics Companies in India by Revenue in FY2026?

Adani Ports and SEZ is the clear leader, earning more than three times the revenue of the No. 2 company. TVS Supply Chain Solutions, Delhivery, and CONCOR round out the top four, each approximately above ₹9,000 crore.

"Revenue from operations" is what a company earns from its core business. It leaves out other income like interest, which makes it the fairest basis for comparison.

How Did We Rank These Logistics Companies? 

We used one number for every company: consolidated revenue from operations for FY2026, taken from audited results published between April and July 2026. Growth figures are calculated from each company's reported FY2026 and FY2025 numbers. Every number is rounded to the nearest crore.

Only listed companies made the cut because their audited results are public. Unlisted players aren't ranked, since we couldn't check their FY2026 accounts. We left out Aegis Logistics because most of its revenue comes from its LPG business, which includes product sales, so its top line isn't comparable with pure logistics revenue.

 Allcargo Global, which houses the ECU Worldwide business, was listed only in July 2026, and we couldn't verify an audited full-year FY2026 figure for it. Snowman Logistics doesn't appear separately because Gateway Distriparks consolidates it. Allcargo Logistics' FY2025 base is the restated, post-demerger number.

For manufacturers, however, revenue size is only part of the picture. Companies often work with several logistics partners across road freight, 3PL, express, and multimodal operations. RoaDo helps bring these different carriers together in one place, with truck tracking, document checks, freight billing, and shipment visibility across the network. 

Top Logistics Companies in India by Segment

Revenue rankings hide how different these businesses are. Here's the same list, filtered by segment.

Ports and Terminals

Adani Ports and SEZ handled 500.8 million tonnes of cargo in FY2026, and its logistics arm alone grew 55% to ₹4,478 crore. JSW Infrastructure, Gujarat Pipavav Port, and Allcargo Terminals fill out this group. JSW handled 122 million tonnes during the year.

Rail and Multimodal

CONCOR is the largest rail-focused company here, though its revenue barely moved. Gateway Distriparks grew 31.6%, helped by a full year of Snowman Logistics in its accounts, which contributed ₹604.4 crore. Western Carriers runs a rail-focused, asset-light model.

Shipping

SCI and Great Eastern Shipping run tanker, bulk, and offshore fleets. Both posted low single-digit revenue growth in FY2026.

Express and E-commerce

Delhivery crossed ₹10,500 crore, and Shadowfax added more than ₹1,700 crore in a single year. Blue Dart and TCI Express grew more slowly, at 7.4% and 2.4%.

Road Freight, 3PL, and Contract Logistics

These are the supply chain companies most manufacturers deal with directly. TVS Supply Chain Solutions, Mahindra Logistics, TCI, VRL, Allcargo Logistics, and Ritco all sit here. Contract logistics is doing the heavy lifting: Mahindra Logistics' contract logistics revenue rose 16% to ₹5,490 crore, and TCI's supply chain division grew to ₹2,199 crore from ₹1,777 crore.

What Do the FY2026 Numbers Say About Supply Chain Companies in India?

CONCOR, at No. 4, grew just 2.2%, and both shipping companies grew less than 4%, while younger, tech-led players like Shadowfax and BlackBuck grew by more than half. A DPIIT and NCAER study (Logistics Cost in India Assessment Report) put India's logistics cost at 7.97% of GDP and 9.09% of non-services output for 2023-24.

The National Logistics Policy (NLP 2022, Government of India) aims to bring logistics costs in line with global benchmarks by 2030. A 3PL, or third-party logistics provider, runs transport and warehousing for another company under contract.

How Can Manufacturers Manage Multiple Logistics Partners? 

For a manufacturer, this list is less about who's biggest and more about who you'll actually work with. A single plant might use a 3PL for warehousing, an express carrier for urgent parts, and a handful of regional transporters for FTL (full truckload) freight. That's the gap a freight operating system like RoaDo is built for. 

It tracks trucks through SIM and browser links, so transporters don't need to fit devices; it checks vehicle documents against VAHAN, pulls e-way bill data from GSTN, and audits freight invoices before payment, speeding up billing cycles by 65% and reducing DSO by 7–10 days.

 Having tracked over 1.2 million trips and avoided more than 1 lakh delays via AI alerts, it leaves your existing carrier contracts intact while giving you single-pane visibility across all of them. 

Conclusion

India's largest logistics companies grew at very different speeds in FY2026, and revenue size alone doesn't explain where the sector is heading. 

Ports and the newer express players pulled ahead, while CONCOR and the two shipping companies grew slowly. For shippers, the real takeaway is how many different partners a single supply chain now depends on. 

Platforms like RoaDo are built for exactly that complexity. As these companies keep growing, the shippers who coordinate them well will gain the most.

Frequently Asked Questions

1. Which is the largest logistics company in India by revenue?
Adani Ports and SEZ leads the list based on FY2026 revenue. It is well ahead of the other companies included in the ranking.

2. What are the top 10 logistics companies in India?
The top 10 are APSEZ, TVS Supply Chain Solutions, Delhivery, CONCOR, Mahindra Logistics, Blue Dart, SCI, Great Eastern Shipping, JSW Infrastructure, and TCI.

3. Which logistics company grew fastest in FY2026?
Shadowfax recorded the fastest growth in FY2026. BlackBuck ranked second in terms of growth.

4. Is Delhivery bigger than Blue Dart?
Yes. Delhivery reported higher FY2026 revenue than Blue Dart. It ranks higher in the revenue-based list.

5. What is India's logistics cost as a share of GDP?
India’s logistics cost was 7.97% of GDP in 2023-24, according to the DPIIT and NCAER study cited by PIB in 2025.

6. Which is the largest rail logistics company in India?
CONCOR is the largest rail logistics company in this ranking. Its FY2026 revenue was higher than that of the other rail-focused companies listed.

7. Does this list include private, unlisted logistics companies?
No. The list covers listed logistics companies with publicly available FY2026 results. Private and unlisted companies are not included.

8. What period does FY2026 cover?
FY2026 runs from 1 April 2025 to 31 March 2026. The revenue and growth figures in the list relate to this financial year.

“Working with a 3PL, an express carrier, and a dozen transporters at once? RoaDo puts every truck, document, and freight bill in one place.”