Allcargo Terminals shares surge 8% as freight volumes rise 20% YoY in June

Shares of smallcap firm Allcargo Terminals surged up to 7.83 per cent at Rs 54.80 per share on the BSE in Friday’s intraday trade. This came after Allcargo Terminals reported that its container freight station (CFS) volumes for the month of June 2024 were recorded at 55.9 ‘000 TEUs, an increase of 20 per cent over June 2023 and 6 per cent over May 2024. 

A TEU (twenty-foot equivalent unit) is a measure of volume in units of twenty-foot long containers. 

The company on Thursday in an exchange filing said that the increase in volume can be attributed to increase in port volumes and Allcargo’s strong presence and client relationship. 

Allcargo Terminals operates Container Freight Stations (CFS) and Inland Container Depots (ICD) throughout India, maintaining one of the country's most extensive CFS networks. The company manages 10 facilities in total, with ownership of 4 CFS and ICD sites, while 3 others are operated through subsidiaries and joint ventures.

Allcargo Terminals reported a 31.06 per cent decline in net profit to Rs 8.81 crore for the quarter ended March 2024, compared to Rs 12.78 crore in the same quarter last year. Sales also decreased by 1.08 per cent to Rs 181.76 crore during this period.

For the full fiscal year ending March 2024, the company's net profit fell by 22.86 per cent to Rs 44.40 crore, down from Rs 57.56 crore in the previous fiscal year. However, sales for the fiscal year increased by 3.86 per cent to Rs 732.98 crore, up from Rs 705.71 crore in the previous fiscal year.

The company has a total market capitalisation of Rs 1,297.52 crore. The company shares are trading at a price to earnings multiple of 32.98 with an earning per share of Rs 1.54. 

At 11:56 AM; the stock of the company pared some of its gains and was trading 3.92 per cent higher at Rs 52.81 per share on the BSE. In comparison the BSE Sensex rose 0.73 per cent to 80,482 levels.