Allcargo Logistics (ALLCARGO) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 was marked by stable profitability, improved yields, and cost control, supported by a robust macroeconomic environment and ongoing digital transformation initiatives.

• Management transition and group restructuring followed mergers and demergers, with new leadership and strategic priorities unchanged, emphasizing service quality and profitability.

• Express business profitability improved year-over-year due to yield enhancement and cost control, despite a post-festive demand dip.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, reflecting significant restructuring.

• Continued investments in digital capabilities, automation, and cybersecurity to enhance efficiency and service quality.

Financial highlights

• Q3 FY26 consolidated revenue was INR 516 crore, flat year-over-year and sequentially; nine-month FY26 revenue reached INR 1,544 crore, up 7% YoY.

• Q3 EBITDA stood at INR 61 crore, stable YoY and QoQ; gross profit was INR 153 crore.

• Net cash position at INR 88 crore at the end of Q3 FY26.

• Profit after tax for Q3 FY26 was break-even at INR 0 crore, compared to a loss of INR 6–8 crore in Q3 FY25.

• Exceptional gain of INR 24 crore from sale of stake in Haryana Orbital Rail Corporation Limited, offset by impairment and write-offs.

Outlook and guidance

• Management expects Q4 to be seasonally stronger, with both express and contract logistics segments anticipated to improve.

• Vision 2030 targets 20% EBITDA CAGR from FY25 base and 12% revenue CAGR over FY25-30, with growth expected to accelerate in FY27 and FY28.

• Focus remains on efficiency-led profitable growth, digital transformation, and leveraging technology for operational excellence.

• Impact of new Labour Codes recognized, with estimated incremental employee benefit cost of INR 1 crore for the quarter and nine months ended December 31, 2025.

• No forward-looking volume or revenue numbers disclosed, but confidence expressed in achieving guidance.