As per letter attached i.e. Re-designation of Mr. Shashi Kiran Janardhan Shetty and Appointment of Mr. Ketan Nishikant Kulkarni as Managing Director & CEO
Awaiting price reaction for this filing.
Allcargo Gati announced its Q1 FY26 results alongside significant leadership changes. Consolidated revenue from operations stood at ₹357 crore with a profit after tax of ₹122 lakhs, though operating performance was weak (loss before exceptional items of ₹5 crore), boosted by a ₹569 lakh exceptional gain from disposal of non-core assets. Standalone profit after tax was ₹961 lakhs, largely driven by other income (₹612 lakhs) and exceptional items. Mr. Shashi Kiran Shetty was re-designated from Chairman & Managing Director to Chairman & Director. Mr. Ketan Nishikant Kulkarni, previously Chief Growth Officer at parent Allcargo Group and ex-CCO at Blue Dart (DHL Group), was appointed as the new Managing Director & CEO for a 2-year term. The company also appointed a new Company Secretary and a new Secretarial Auditor (5-year term).
The CEO transition places the parent Allcargo Group's executive at the helm of the listed subsidiary, which may accelerate the pending merger with Allcargo Logistics Limited. For shareholders, the core logistics business continues to struggle operationally with profits largely propped up by one-off gains, while an ongoing Income Tax search at the company remains an unresolved overhang.