Allcargo Terminals Q2 FY27 results: net profit up 84.9% to ₹20.89 crore, revenue up 21.5%

How did Allcargo Terminals perform in Q2 FY27?

Allcargo Terminals reported consolidated revenue of ₹251.63 crore for Q2 FY27, up ₹44.47 crore or 21.5% from ₹207.16 crore in Q2 FY26 and ₹37.22 crore or 17.4% from ₹214.41 crore in Q1 FY27. Total income was ₹254.55 crore, against ₹209.63 crore a year earlier and ₹216.49 crore in the previous quarter.

EBITDA for the quarter was ₹58.85 crore, up ₹18.52 crore or 45.9% from ₹40.33 crore a year earlier and ₹11.38 crore or 24.0% from ₹47.47 crore in Q1 FY27. The EBITDA margin widened to 23.4% from 19.5% a year earlier and 22.1% in the previous quarter.

Profit before tax rose to ₹25 crore from ₹12.46 crore in Q2 FY26 and ₹12.84 crore in Q1 FY27. After tax of ₹6.38 crore, net profit was ₹20.89 crore against ₹11.30 crore a year earlier and ₹6.37 crore in the previous quarter, while basic EPS was ₹0.80 against ₹0.45 and ₹0.24 respectively. On the standalone basis, revenue was ₹164.07 crore and profit after tax was ₹7.77 crore.

What changed in Allcargo Terminals' costs and profit?

Total expenses rose to ₹229.55 crore in Q2 FY27, up ₹32.38 crore or 16.4% from ₹197.17 crore in Q2 FY26 and ₹25.90 crore or 12.7% from ₹203.65 crore in Q1 FY27. Revenue rose faster than expenses over both comparisons, which is what the reported EBITDA and margin show.

Against the year-ago quarter, other expenses were ₹170.52 crore against ₹148.24 crore, up ₹22.28 crore or 15.0%; depreciation was ₹20.88 crore against ₹15.82 crore, up ₹5.06 crore or 32.0%; employee cost was ₹22.26 crore against ₹18.59 crore, up ₹3.67 crore or 19.7%; and finance costs were ₹15.89 crore against ₹14.52 crore, up ₹1.37 crore or 9.4%. Other income was ₹2.92 crore against ₹2.47 crore, up ₹0.45 crore or 18.2%.

There was no exceptional item in either the year-ago quarter or the current quarter. Tax expense was ₹6.38 crore, up ₹3.22 crore or 101.9% from ₹3.16 crore a year earlier, and down ₹0.82 crore or 11.4% from ₹7.20 crore in Q1 FY27. Against the previous quarter, other expenses rose ₹24.33 crore, employee cost rose ₹1.51 crore and depreciation rose ₹0.10 crore, while finance costs fell ₹0.04 crore. The company's investor presentation said profitability improved with an improved realisation and a higher share of transshipment container volumes at JNPA.

How did the first half of FY27 go?

For the first half of FY27, Allcargo Terminals reported consolidated revenue of ₹466.04 crore, up ₹71.63 crore or 18.2% from ₹394.41 crore in H1 FY26. Total income was ₹471.04 crore, up ₹67.45 crore or 16.7% from ₹403.59 crore, and the company reported 366,599 TEUs of volumes in the half against 333,361 TEUs.

Profit before tax for H1 FY27 was ₹37.84 crore, up ₹13.58 crore or 56.0% from ₹24.26 crore, and net profit was ₹27.26 crore, up ₹6.85 crore or 33.6% from ₹20.41 crore. Basic EPS for the half was ₹1.04 against ₹0.81, a rise of ₹0.23 or 28.4%. The investor presentation showed H1 EBITDA of ₹106 crore against ₹75 crore and PBT of ₹41 crore against ₹28 crore.

What do the balance sheet and cash flow show?

Total assets stood at ₹1,303.46 crore as on 30 September 2026 against ₹1,248.14 crore as on 31 March 2026, and total equity was ₹384.47 crore against ₹352.53 crore. Borrowings were ₹5.0 crore against no borrowings at the previous balance sheet date, and cash was ₹17.21 crore against ₹9.64 crore.

Trade receivables were ₹77.24 crore at the end of September 2026 against ₹50.64 crore in March 2026, while trade payables were ₹120.56 crore against ₹93.52 crore. There was no inventory reported at either date.

For the half, operating cash flow was ₹111.51 crore against ₹59.48 crore in H1 FY26. Investing cash flow was an outflow of ₹61.44 crore against an inflow of ₹18.26 crore, financing cash flow was an outflow of ₹42.5 crore against an outflow of ₹74.9 crore, and capital expenditure was ₹7.93 crore against ₹4.43 crore.

How has Allcargo Terminals done over the last 8 quarters?

Revenue rose year on year in each of the last five quarters. It reached ₹251.63 crore in Q2 FY27, the highest of the eight quarters shown, against a low of ₹185.93 crore in Q4 FY25, and rose ₹37.22 crore or 17.4% from Q1 FY27.

Net profit moved unevenly over the same period. It was ₹20.89 crore in Q2 FY27 against a low of ₹6.37 crore in Q1 FY27, and Q4 FY25 recorded a loss of ₹2.42 crore, the only negative figure in the series.

The EBITDA margin has moved upward across the period, from 17.3% in Q3 FY25 to 19.5% in Q2 FY26, 22.1% in Q1 FY27 and 23.4% in Q2 FY27, which is the highest in the series. The investor presentation showed EBITDA per TEU above ₹2,000 across the last eight quarters, at ₹2,898 in Q2 FY27.

What else did the company announce?

At its meeting on 4 November 2026, the board approved the standalone and consolidated unaudited financial results, with a limited review report, for the quarter and half year ended 30 September 2026. S.R. Batliboi & Associates LLP conducted the limited review of the standalone results, and nothing came to its attention that indicated the statement had not disclosed the required information.

The board also approved that the company would make a subsequent call on partly paid-up rights equity shares at an appropriate time. The company had issued 3,97,98,999 partly paid-up equity shares of face value ₹2 each on a rights basis at an issue price of ₹20 per share, with ₹5 per share paid at application and CRISIL Ratings Limited appointed as monitoring agency.

Two other filings accompanied the result. A monthly operational update filed on 3 November 2026 said total volumes in October 2026 were 68.2 '000 TEUs, a 4% growth over the previous year and 10% growth over the previous month. An investor presentation filed on 4 November 2026 said Farukhnagar PFT construction remained on track for completion by March 2027, tendering for the Speedy JNPT expansion had been completed adding 60,000 TEUs of annual handling capacity, and the company was on track for its FY30 aspiration of managing one million TEUs.

What did Allcargo Terminals' management say?

Management expects rate impacts to remain largely in place for coming quarters, while transshipment volume and revenue decline as Gulf-related conditions normalise. CFO Pritam Vartak said: "The rate impacts are there to stay for coming quarters largely as we go along, and as the the Gulf related situation normalizes, the transshipment volume and the revenue would basically take a dip." MD Pranav Chaudhary said: "While global trade patterns may remain dynamic in the near term, India's expanding trade base, improving port and logistics infrastructure, and increasing integration with global supply chain provides a supportive backdrop for container terminal demand."

How did Allcargo Terminals shares react?

The filing was in the market when it appeared, and the stock moved up from its pre-results close of ₹24.16. It was up 4.0% after five minutes, 5.6% after 15 minutes and 4.8% after 30 minutes, then closed the reaction day up 9.6%. By the next day's close, the stock was up 12.4% from its pre-results close.

Earlier results-day moves were mixed. The stock was up 0.3% on 11 August 2026, up 4.3% on 21 May 2026 and up 7.2% on 10 February 2026, while it fell 1.5% on 4 November 2025, fell 0.7% on 11 August 2025 and fell 5.5% on 10 February 2025. It had risen 6.5% on 29 October 2024 and 0.4% on 1 August 2024.