Allcargo Logistics Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Allcargo Logistics Ltd filed with BSE on 20 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Allcargo Logistics reported Q4 FY26 consolidated revenue of INR514 crores, roughly flat year-on-year, with EBITDA up 41% to INR60 crores. For the full year, revenue grew 5% to INR2,058 crores while EBITDA grew 16% to INR233 crores, driven by growth in the Consultative Logistics business and cost rationalization. Management also discussed pricing actions in the Express division, the pending listing of Allcargo Global, and a pass-through mechanism for fuel cost increases.
Numbers mentioned
Revenue: INR514 crores (Q4 FY26)
p. 4
“Revenue for the quarter stood at INR514 crores as compared to INR513 crores in the corresponding period last year, and INR516 crores in the previous quarter.”
Deepak Pareek, page 4 of the filed PDF · View the filing
Gross profit: INR154 crores (Q4 FY26)
p. 5
“Gross profit for the quarter stood at INR154 crores compared to INR149 crores in the corresponding period last year, which is broadly in line on a sequential basis.”
Deepak Pareek, page 5 of the filed PDF · View the filing
EBITDA: INR60 crores (Q4 FY26)
p. 5
“EBITDA for the quarter was reported at INR60 crores, a strong 41% growth from last year and broadly in line sequentially.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Revenue: INR2,058 crores (FY26)
p. 5
“On a full year basis, revenue stood at INR2,058 crores, registering a growth of 5% over the previous year.”
Deepak Pareek, page 5 of the filed PDF · View the filing
EBITDA: INR233 crores (FY26)
p. 5
“EBITDA for the year came in at INR233 crores, reflecting a healthy growth of 16% year-on-year.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Express division revenue: INR362 crores (Q4 FY26)
p. 5
“Turning to the Express division. Revenue for the quarter stood at INR362 crores as compared to INR343 crores in the same period last year and INR364 crores in the previous quarter.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Express division revenue: INR1,442 crores (FY26)
p. 5
“For the full year, Express business revenue stood at INR1,442 crores as against INR1,416 crores in the previous year.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Warehouse space under management: 8 million square feet (as on March 2026)
p. 5
“Moving on to the Consultative Logistics business, the total warehouse space under management stood at 8 million square feet as on March 2026.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Consultative Logistics revenue: INR151 crores (Q4 FY26)
p. 5
“Revenue for Q4 FY '26 was INR151 crores, reflecting a growth of 3% year-on-year.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Consultative Logistics revenue: INR615 crores (FY26)
p. 5
“On a full year basis, revenue for the Consultative Logistics business stood at INR615 crores, registering a healthy growth of 17% year-on-year.”
Deepak Pareek, page 5 of the filed PDF · View the filing
Express volume: 3 lakh metric tons (Q4 FY26)
p. 4
“During Q4 FY '26, Allcargo Logistics handled a total volume of 3 lakh metric tons under the Express business unit.”
Deepak Pareek, page 4 of the filed PDF · View the filing
Realization per metric ton: INR12,037 (Q4 FY26)
p. 4
“Realization per metric ton stood at INR12,037, reflecting an increase of 3% on year-on-year and 4% sequentially.”
Deepak Pareek, page 4 of the filed PDF · View the filing
EBITDA margin: 11% (FY26)
p. 9
“Our EBITDA has shown an improvement from 10% to 11% we have achieved in this year and progressively, we are committed towards that value creation and enhancement of shareholders' value.”
Deepak Pareek, page 9 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
EBITDA and PBT growth relative to revenue — coming quarters
stated as an aspiration by Ketan Kulkarni
p. 4
“With integration now largely behind us, we expect our EBITDA and PBT to grow ahead of revenue in the coming quarters.”
Ketan Kulkarni, page 4 of the filed PDF · View the filing
Allcargo Global listing — listing completion · about a month's time
stated conditionally by Sanjay Punjabi
p. 8
“And all we need to do now is file the revised information memorandum with authorities with the audited annual financials and we can expect the listing to happen in about a month's time from now on.”
Sanjay Punjabi, page 8 of the filed PDF · View the filing
Warehouse space addition — 0.5 million square feet additional · next year
stated firmly by Deepak Pareek
p. 7
“But in the next year, if you see on the expansion bit, we have a plan to add 0.5 million square feet additional on the warehouse space and that would be done largely on an asset-light approach.”
Deepak Pareek, page 7 of the filed PDF · View the filing
Margins
stated as an aspiration by Ketan Kulkarni
p. 10
“So you'll only see improvement in margins going ahead.”
Ketan Kulkarni, page 10 of the filed PDF · View the filing
Consultative Logistics growth — FY27
stated as an aspiration by Ketan Kulkarni
p. 10
“By similar, I don't want to qualify the word, but we will definitely see much better growth than you are seeing in the year gone by and in the quarter-on-quarter of last year to this year on the Express side of the business.”
Ketan Kulkarni, page 10 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said approvals have been received and the listing is expected in about a month after filing the revised information memorandum.
Answered by Sanjay Punjabi
Asked by Adwait Javkar: What is the expected listing date of Allcargo Global given the delay from the previously stated Q4 FY26 target?
p. 8
“So, we've received the necessary approvals from both exchanges and SEBI as well day before yesterday.”
Sanjay Punjabi, page 8 of the filed PDF · View the filing
Management described pricing measures like metro congestion charge, next round 0, and AER charges that improved yield and RPKG over the last six months.
Answered by Ketan Kulkarni
Asked by Vikram Suryavanshi: What is the opportunity to increase wallet share and what are the margin expansion levers for the B2B Express business?
p. 6
“We introduced the metro congestion charge, which is a charge for value when we do urban logistics.”
Ketan Kulkarni, page 6 of the filed PDF · View the filing
Management said the segment has moved to an asset operating lease strategy and growth has come from a mix of asset-light approaches including full truckload business.
Answered by Deepak Pareek
Asked by Vikram Suryavanshi: How will capex look for the Consultative Logistics business and is it moving to an asset-light model?
p. 7
“On the warehouse piece, pure play, 3PL, we have moved to an asset operating lease strategy from April 25, and that has been helpful in terms of capex outlay.”
Deepak Pareek, page 7 of the filed PDF · View the filing
Management said fuel cost is a pass-through built into customer contracts and does not pose a challenge.
Answered by Deepak Pareek
Asked by Adwait Javkar: How will the recent fuel price hike impact Allcargo's business and margins in H1 FY27?
p. 8
“Look, this is an element of cost, which is already built in, in our contracts with the customers.”
Deepak Pareek, page 8 of the filed PDF · View the filing
Management pointed to a 96% improvement in PBT pre-exceptional items as evidence growth is building.
Answered by Deepak Pareek
Asked by Anil Raju: When can investors expect meaningful bottom-line improvement given EBITDA growth but flat PAT?
p. 8
“Yes. Anil, if you see the improvement at the PBT level pre exceptional items, you can very well see, there is a 96% improvement, which has already happened in this year.”
Deepak Pareek, page 8 of the filed PDF · View the filing
Management attributed the improvement to gross profit growth, operating efficiency from Express-CL integration, and rationalization of employee and other expenses.
Answered by Deepak Pareek
Asked by Chinmay Parab: What drove the sharp EBITDA margin improvement to 11% despite flat quarterly revenue, and how sustainable is it?
p. 9
“Also, if you can see the employee expense and other expenses, there has been a significant rationalization, which has really helped the company to get into the EBITDA trajectory, which we were aspiring that has given the 16% growth.”
Deepak Pareek, page 9 of the filed PDF · View the filing
Management said they deliberately deprioritized non-profitable customers, causing revenue growth to outpace tonnage growth.
Answered by Ketan Kulkarni
Asked by Chinmay Parab: What were the key demand challenges behind flat Express volumes in FY26, and what is the outlook for volume acceleration?
p. 10
“We even weeded out a few non-profitable customers, so we did that calibration.”
Ketan Kulkarni, page 10 of the filed PDF · View the filing
Management named auto and engineering, pharma, and diversified industries as the key growth sectors, with surface as the growth driver.
Answered by Ketan Kulkarni
Asked by Chinmay Parab: Which sectors are driving momentum in the Express business?
p. 11
“And the sectors that are essentially driving this is auto and engineering, pharma and also diversified industries.”
Ketan Kulkarni, page 11 of the filed PDF · View the filing
Risks flagged
Cautious near-term outlook due to geopolitical scenario
p. 4
“Looking ahead, while we are cautious on the near-term outlook due to the current geopolitical scenario, we remain focused on efficiency-led profitable growth with continued emphasis on strengthening our core network and expanding transportation and also full truckload capabilities.”
Ketan Kulkarni, page 4 of the filed PDF · View the filing
Cost pressures from West Asia crisis and fuel price hikes
p. 7
“Due to the West Asia crisis and also the morning announcement today. We are fairly well covered on that.”
Ketan Kulkarni, page 7 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.