For the financial year ending 31 March, 2025, Mumbai-based Allcargo Logistics Ltd reported impressive Q3 2024 results. Total external revenue (before inter-segment deductions) surged by 27.5%, rising from INR 32,241.1m in Q3 2023 to INR 41,115.9m in Q3 2024. EBITDA also increased from INR 1,110m in Q3 2023 to INR 1,380m in Q3 2024.
Similarly, total revenue (or total consolidated income) grew by 20.5%, reaching INR 41,144.7m in Q3 2024 compared to INR 32,240.3m in Q3 2023.
LCL volumes for Q3 2024 showed a 2% growth over the same period last year, while FCL volumes rose by 11%. Air freight volumes for the quarter ending December 2024 stood at 8,410 tonnes, reflecting a 5% increase over the same period last year.
In terms of external revenue breakdown, the International Supply Chain segment revenue grew by 30.2%, rising from INR 27,213.7m to INR 35,443.4m. The Contract Logistics business reported a 62% quarter-on-quarter external revenue growth, driven by new client acquisitions and increased wallet share from existing customers.
The Express Business continued to improve, supported by cost optimization initiatives. In Q3 FY25, external revenue increased by 3.8% compared to Q3 2023. Notably, Q3 2024 was a landmark quarter for the express segment, recording its highest-ever quarterly volume.
Over the past few years, Allcargo Logistics Limited has undertaken significant acquisitions and a major demerger to streamline operations and enhance business focus. In May 2023, the company acquired the remaining 30% stake in Gati-KWE for INR 4,065m, making it a wholly-owned subsidiary. This move strengthened Allcargo’s position in the express logistics sector.
In March 2023, Allcargo purchased the remaining 38.87% stake in ASCPL from its joint venture partner, CCI Logistics, for an enterprise value of INR 1,450m, consolidating its position in contract logistics.
On 21 December, 2023, Allcargo’s board approved the demerger of its international supply chain business, ECU Worldwide, into a separate listed entity, Allcargo ECU Ltd.
Allcargo Logistics’ Founder and Executive Chairman, Shashi Kiran Shetty, highlighted the company’s strategic initiatives, stating: “With the merger of Allcargo Supply Chain and Gati Express Business, the scheme will create a strong P&L, balance sheet, and cash flows to drive synergistic growth and expansion in the fast-growing domestic logistics market, creating an unmatched powerhouse in the domestic supply chain business.”
He emphasized that the restructuring would simplify the corporate structure and enhance business focus, enabling the Allcargo Group to sustain its growth trajectory, which has demonstrated a compound annual growth rate (CAGR) of approximately 18% over the past two decades.
Author: Shruti Sasidharan
Source: Ti Insight
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