Allcargo FY26 investor presentation: revenue down 9%, gross margin up 200 bps

FY26 results show 9 percent revenue decline to Rs 12,758 Cr due to geopolitical issues in H2 (US tariffs, West Asia war). Gross profit rose 1 percent to Rs 2,766 Cr with margins expanding 200 bps to 22 percent. PBT swung to a loss of Rs 283 Cr from a Rs 74 Cr profit, hit by Rs 236 Cr in one-off costs. Adjusted PBT was still negative at Rs 47 Cr. Higher-cost borrowings fell to Rs 314 Cr from Rs 350 Cr. Management expects yield recovery to sustain, SG and A to normalize at a lower run-rate, and margins to improve going forward.