Allcargo Logistics Limited has informed the Exchange about Transcript
ALLCARGO · price
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Allcargo Logistics reported Q4 FY24 consolidated revenue of INR 3,398 crores, up 6% quarter-on-quarter, but EBITDA fell to INR 99 crores from INR 111 crores, and the company slipped into a loss with a PAT of INR (-12) crores versus INR 17 crores in Q3. Net debt rose by INR 193 crores to INR 407 crores. The Express business (Gati) saw strong margin gains with EBITDA more than doubling to INR 14 crores on cost optimization, while the international supply chain business (ECU Worldwide) posted flat-to-marginally-lower performance with revenue of INR 2,570 crores. Management highlighted 'green shoots' in global freight demand, with rates on Asia-to-Latin America lanes rising from $2,000 to $6,000-$7,000, and expects volume growth in H2 2024. The demerger/restructuring into separate domestic and international entities is on track for completion by January-March 2025.
The margin improvement at Gati Express and early signs of freight rate recovery in international logistics are positives, but the quarterly loss and rising net debt may concern short-term investors. The impending demerger (expected by early 2025) could unlock value by giving clarity on the standalone businesses.