Allcargo Logistics (ALLCARGO) Q1 25/26 earnings summary

Executive summary

• Domestic business achieved strong growth, with revenue up 50% and EBITDA up 30% year-over-year, while international operations faced subdued trade due to macroeconomic and geopolitical volatility, resulting in flat volumes and lower EBITDA.

• Q1FY26 consolidated revenue grew 1% year-over-year to INR 3,817 crore, but EBITDA dropped 24% year-over-year to INR 103 crore, mainly due to significant notional forex losses, leading to a consolidated net loss of INR 9,896 lakhs.

• PAT turned negative at -INR 99 crore, impacted by INR 8,278 lakhs notional FX loss from USD loans in Belgian subsidiaries.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, with auditor review reports containing no qualifications.

• Appointment of MSKC & Associates LLP as new statutory auditors for a five-year term, subject to shareholder approval.

Financial highlights

• Consolidated revenue for Q1 FY26 was INR 3,817 crore, up 1% year-over-year and down 3% sequentially.

• Gross profit increased 8% year-over-year to INR 856 crore, with gross margin improving to 22.43%.

• EBITDA (excluding other income/items) was INR 103 crore, down from INR 136 crore year-over-year and INR 128 crore sequentially.

• Consolidated net loss after tax for Q1 FY26 was INR 9,896 lakhs, compared to a profit of INR 428 lakhs in Q1 FY25.

• Gross debt reduced by INR 107 crore sequentially to INR 1,060 crore; net debt at INR 467 crore.

Outlook and guidance

• Near-term outlook is positive with expected seasonal volume rebound, especially during the festive season, but long-term visibility remains uncertain due to macroeconomic and geopolitical factors.

• Company is taking steps to eliminate FX-related earnings volatility and expects further margin improvement from cost optimization and operational efficiency initiatives.

• Management expects no material impact from the Competition Commission of India show cause notice regarding a past acquisition.