Allcargo Gati Limited has informed the Exchange regarding Appointment of Mr Ketan Nishikant Kulkarni as Managing Director & CEO of the Company w.e.f. August 05, 2025.
Awaiting price reaction for this filing.
Allcargo Gati's board approved Q1 FY26 (quarter ended June 30, 2025) standalone and consolidated financial results along with several leadership changes. Mr. Ketan Nishikant Kulkarni, previously Chief Growth Officer at parent Allcargo Group and a 17-year veteran of Blue Dart Express (DHL Group), was appointed as Managing Director & CEO for a 2-year term effective August 5, 2025, subject to shareholder approval. In parallel, Mr. Shashi Kiran Shetty was re-designated from Chairman & MD to Chairman & Director, indicating a planned leadership transition. On a consolidated basis, revenue from operations stood at ₹357.23 crore (vs ₹358.12 crore in Q1 FY25), and the company swung to a profit of ₹1.22 crore from a loss of ₹2.17 crore a year ago, aided by a ₹5.69 crore exceptional gain from disposal of non-core assets. Standalone profit after tax jumped to ₹9.61 crore (vs ₹2.57 crore) with EPS of ₹0.66. The company also appointed a new Company Secretary and a Secretarial Auditor for 5 years.
The new CEO brings strong logistics industry experience and group-level familiarity, which should support continuity as the company awaits NCLT approval for its merger with parent Allcargo Logistics. Q1 profitability improved year-on-year despite flat revenues, though it was largely propped up by one-time asset sale gains rather than core operating strength. The discontinued fuel station business continues to be wound down, leaving express logistics as the main growth driver going forward.