Allcargo Logistics reports Q2 net loss; appoints Ketan Kulkarni as MD

Allcargo Logistics has reported a decline in its quarterly results, posting a net loss of 76% to ₹4 crore for the quarter ended September 2025 as compared against a net profit of ₹17 crore recorded in the previous quarter ended September 2024.

Despite the loss, the company saw an 11% rise in revenue from operations, which climbed to ₹537 crore in the quarter ended September 2025 from ₹483 crore in the quarter ended September 2024. Furthermore, the company reported a consolidated EBITDA of ₹62 crore.

As per the press release, management attributed the revenue increase to enhanced service quality, new customer additions in both the express logistics and contract logistics segments, and continued improvements in technology and digitalisation.

On a sequential basis (quarter-on-quarter), the company's performance showed recovery, with revenue growing 9%, pushing the H1 FY26 revenue past the ₹1,000 crore mark. EBITDA rose 23%, and Profit Before Tax (PBT) grew sharply by 88% quarter-on-quarter.

Segment performance highlights
The Express Distribution segment registered a 6% year-on-year growth, driven by enhanced service quality, customer stickiness, and new client acquisitions. This business also saw a substantial 32% year-on-year growth in EBITDA due to a focus on profitable lanes and network optimisation.

Contract Logistics (CL) delivered strong performance with 25% year-on-year revenue growth and 22% year-on-year EBITDA growth, backed by new contracts in the e-commerce and chemicals sectors and deeper engagement with existing large clients.

The company expects the strong Q2 Express performance to continue through Q3 and Q4, with further ramp-up in CL as ongoing contracts scale up.

Leadership change
These results follow the company's major strategic restructuring. Allcargo Logistics received approval from the National Company Law Tribunal (NCLT), Mumbai Bench, on October 10, 2025, for the Composite Scheme of Arrangement involving the demerger of its International Supply Chain (ISC) business and the merger of its Domestic Supply Chain business.

The scheme became effective November 1, 2025, consolidating the domestic express distribution (formerly under Allcargo Gati and GESCPL) and contract logistics businesses (formerly under ASCPL) into the resulting Allcargo Logistics.

Following this restructuring, the Board announced key leadership changes, appointing Ketan Kulkarni as the new Managing Director and Chief Executive Officer, and Deepak Pareek as the new Chief Financial Officer of Allcargo Logistics.

Ketan Kulkarni, the newly appointed MD and CEO said, "This restructuring has set the stage to bring both express distribution and contract Logistics under one coherent engine of growth. Our unified domestic business under Allcargo Logistics is now better aligned to pursue scale, efficiency, and customer-centric innovation. With stronger fundamentals and sharper focus, we look forward to a robust growth trajectory in the upcoming quarters.”

Following the recent results and a new appointment, Allcargo Logistics' share price on the National Stock Exchange reached ₹13.74 as of 12:58 on November 17, a 4.97% increase.