Page 2 - Allcargo Logistics

Allcargo Logistics net profit declines 78% to Rs 51.90 cr in March quarter

Allcargo Logistics' consolidated net profit declined 78 per cent to Rs 51.90 crore in the March 2023 quarter, according to a late-night regulatory filing on Tuesday. The company had posted a consolidated profit of Rs 240.55 crore in Q4 FY22, the filing said. Allcargo, in a statement, announced the appointment of logistics industry veteran Adarsh Hegde as its Managing Director. The consolidated net profit in the January-March quarter of the previous fiscal stands at Rs 51.90 crore, taking into consideration profit from continuing and discontinuing operations, as per the filing. The total income from continued operations slipped 37.49 per cent to Rs 3,415.40 crore in the quarter under review against Rs 5,464.23 crore clocked in the March 2022 quarter, it added. For the full fiscal 2022-23, its consolidated profit (from continuing and discontinuing operations) fell 48 per cent to Rs 653.21 crore from Rs 964.59 crore in FY22. The total income (consolidated) from continuing operations

Selectively ride logistics stocks as tech wave disrupts market: Analysts

With the Covid-19 pandemic crippling the supply-chain management across borders, investors and venture capital firms started to place their bets on logistics, seeing manifold growth in e-Commerce

Allcargo buys partner's 39% stake in contract logistics arm for Rs 145 cr

Allcargo Logistics on Monday acquired the remaining 38.87 per cent stake of its partner ACCI in the contract logistics arm for Rs 145 crore, valuing the company at Rs 373 crore at an enterprise level. Allcargo has also decided to sell its non-core customs clearance business by divesting its 61.13 per cent stake for an enterprise value of Rs 42 crore. With the acquisition, Allcargo will take its stake to 100 per cent in the contract logistics business and create an effective synergy between contract logistics and express distribution. The acquisition price is based on the agreement that was signed with ACCI in 2016 and with growth in this business over the years, the company said in a statement. The acquisition offers management control and facilitates strategic decision-making for the business. This will also help us enhance service delivery capabilities to drive growth. The business has witnessed robust growth over the years diversifying into several new industry segments. With f

Allcargo Logistics Sept-quarter consolidated PAT falls 13% to Rs 230 crore

Allcargo Logistics has reported a 13 per cent fall in consolidated Profit After Tax (PAT) at Rs 230 crore for the quarter ended September 30, 2022. The company's consolidated PAT in the year-ago period was Rs 263 crore, as per a regulatory filing. The income from operations rose 6.5 per cent to Rs 5,300 crore in the reporting quarter as against Rs 4,978 crore in the second quarter of FY22, as per the filing. Earnings before income, taxes, depreciation and amortisation (EBITDA) during the quarter stood at Rs 450 crore. "We have posted the highest-ever Q2 revenue and EBITDA and also the highest margin ever for any quarter, this time, said Shashi Kiran Shetty, Chairman, Allcargo Logistics, ECU Worldwide and Gati Ltd. On the board's approval to the company's plans to buyout the remaining stake in GKEPL, Shetty said. "We share an extremely close relationship with KWE group built on mutual respect and that will continue across businesses. With this acquisition, we will be able to exped

Allcargo expects to be among top 10 logistics firms globally in 3-4 yrs

Logistics firm Allcargo Group is bullish on its business prospects and expects to grow at an average 15 per cent annually, mainly driven by organic growth, its Chairman Shashi Kiran Shetty has said. The company is also looking to be among the top 10 players in the global logistics space in the next 3-4 years. According to a recent investors' presentation, the group is aspiring to achieve Rs 25,000-30,000 crore topline by 2026 with as much as Rs 20,000-25,000-crore revenue from its international supply-chain business, and Rs 2,700-3,500 crore from its express and contract logistics segment. "We are pretty bullish (on our business prospects) in the years to come. Fundamentally, we are focussed and these businesses have infinite growth opportunities. We are among the top 20 logistics companies in the world today and we can get into the top 10 in the next 3-4 years," Shetty told PTI. The company's strategy will always be long-term, sustainable and growth-minded to consolidate the indus

Logistics stks price in most positives; no near-term upside seen: Analysts

The new logistics policy aims to trim the costs to single digits, from 13-14 per cent of the GDP at present, by 2030

Allcargo Logistics Q1 PAT rises over two-fold to Rs 280 cr; revenue up 65%

The company had posted a PAT of Rs 106 crore in the first quarter of the previous fiscal, Allcargo said in a release on Thursday.

Allcargo Logistics Q4 consolidated net profit jumps to Rs 247 crore

The company had posted a net profit of Rs 53.71 crore for the year-ago period, Allcargo Logistics said in a filing to BSE

Allcargo Logistics net profit soars multi-fold to Rs 354 crore in Q3

Allcargo Logistics reported a multi-fold jump in consolidated net profit to Rs 354.16 in the October-December quarter compared to Rs 22 crore in the same quarter last year.

Allcargo Logistics appoints V S Parthasarathy as vice-chairman

His role as the company's non-executive non-independent vice-chairman will be to guide, mentor and help drive its transformation along with subsidiaries ECU Worldwide and Gati Limited

Stocks to Watch: Data Patterns, Tega, LTFH, GMR Infr, Allcargo, Ajanta Phar

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

Allcargo Logistics freezes at 20% upper limit, at new high on robust Q2 nos

The company said the industry went through pain with low rates over several years and has now turned around post consolidation and do not see freight rates going back to earlier levels in near future.

India's Allcargo Logistics eyes potential stake sale in ECU Worldwide

The firm is looking to raise funds and has appointed Jefferies Financial to evaluate options

Allcargo picks up 65% stake in Swedish logistics major Nordicon for $29 mn

The promoters of the Nordicon Group will own the balance 35 per cent and will continue to lead the company as a joint venture

Allcargo Logistics arm forms JV with Swedish firm to expand in Europe

Acquires 65% stake in JV to become market leader in Nordic region, continue its focus on offering multi-modal digital logistics services

Allcargo brings in Parthasarathy, Martin Mueller as independent directors

Allcargo Logistics on Wednesday announced appointment of V S Parthasarathy and a Swiss national, Martin Mueller as independent directors on its board. Parthasarathy was till recently Group CFO and CIO of Mahindra & Mahindra while Mueller is a former partner at global consulting giant McKinsey. Mueller and Parthasarathy have also joined the board of Allcargo's wholly-owned subsidiary ECU Worldwide, the company said in a statement. ECU Worldwide is a Belgian multinational, operating Allcargo Group's global operations with presence in over 160 markets and is the world's largest less-than-cargo load (LCL) consolidator. "With Partha and Martin joining our Board... I expect this intellectual and diversified combination of cross-functional leadership and professional expertise will help us immensely as Allcargo prepares to move forward in its journey of excellence leading to meet our vision for the future, said Shashi Kiran Shetty, Founder and Chairman, Allcargo Logistics. Parthasarathy

Gati-KWE to set up 150,000 sq ft surface transhipment centre in Delhi

The facility has been conceptualised to achieve economy of scale and provide unparalleled customer service

Allcargo Logistics moves 76-mtr long super-sized cargo for L&T Hydrocarbon

Firm says this is one of the largest over-dimensional cargo movements in India

Allcargo Logistics profit after tax dips 13% to Rs 58 cr in Sept quarter

The logistics firm had clocked a PAT of Rs 66.84 crore for the corresponding quarter of the previous financial year, it said in a BSE filing

Ministry of education appoints Shashi Kiran Shetty as chairman of NITIE

Shetty's tenure with NITIE will start from 7th November 2020 for a period of four years