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Logistics

Allcargo Logistics quarterly revenue grows 115% to ₹5869 crore

Allcargo Logistics reported revenue of ₹5,869 crore for the quarter and EBITDA stood at ₹505 crore for the third quarter ended December 31, 2021.

Allcargo Logistics quarterly revenue grows 115% to %u20B95869 crore
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February 14, 2022: Allcargo Logistics reported revenue of ₹5,869 crore for the quarter and EBITDA stood at ₹505 crore for the third quarter ended December 31, 2021.

(₹ in Crs)

Particulars

Quarter ended

December 30, 2021

Quarter ended

December 30, 2020

% Increase / (Decrease)

Revenue from operations

5869

2735

115%

EBITDA

505

148

242%

Reported Net profit

355

22 (after adding back exceptional losses)

16 times


Profit before tax stood at ₹439 crore, including ₹30 crore share of profit from associates and JVs. The record performance has been delivered by success of transformational approach led by exceptional leadership of the management team across businesses. The company has put strong focus on attracting and retaining top talent across the world. Further, the company has demonstrated strong performance on acquisitions. There has been a strong contribution from surge in digital revenue and cost optimisation through automation across end to end processes.

The international supply chain business (MTO segment) witnessed sustained growth on the back of volume growth and expansion in market share in favourable market conditions. Transformation continues to drive sales acceleration and value addition across trade lanes has witnessed increases share of door to door component in business. Digital initiatives with industry leading platform ECU360 continue to provide superior service experience to customers.

The CFS-ICD business continues to deliver good performance and the acquisition of Speedy Multimodes has further added strength to the business. Volume handled for the quarter stood at 147,433 TEUs as against 81,666 TEUs for the same quarter last year. The express logistics business under Gati’s subsidiary GKEPL reported its highest ever volume and revenue at ₹ 353 Crores for the quarter. It continues to witness growth momentum. The contract logistics business continues to demonstrate resilience with revenue and profit showing significant growth in the quarter. The business is under ACCI, where Allcargo owns near 61 percent shareholding. ACCI also has customs clearance business. ACCI witnessed a growth of 26 percent in revenue, and EBITDA increased 25 percent from ₹28.4 crore in Q3FY21 to ₹35.4 crore in Q3FY22. The company manages nearly 5 million sq ft warehousing area under its operations.

Shashi Kiran Shetty, chairman, Allcargo Logistics, ECU Worldwide and Gati, said, “The Company has managed to deliver strong performance in this quarter driven by digitally-advanced integrated logistics framework. The business has demonstrated strong resilience and growth on the back of value addition across the service offerings. The transformation-led initiatives have strengthened our capabilities. While adopting the asset-light model, we’ll continue to deliver sustainable value to our clients and all stakeholders. Further, the recently announced demerger will help businesses boost growth in the long term”

“We are proud of our continued success with acquisitions across businesses. Our proactive approach has allowed us to target strategic highly value accretive acquisitions and recent acquisitions in Nordics and India and our JV in Korea have outperformed strongly.” He further added.

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