Conference Call with Allcargo Logistics Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Allcargo Logistics announced Q2FY23 results: Allcargo Logistics Q2 revenue at Rs 5,300 crore; Q2 EBITDA up 24% YoY to Rs 450 crore Consolidated Business PBT grows to Rs 352 crore for Q2FY23, up 27% YoY Allcargo Board approves acquisition of 30% stake in GKEPL from KWE Group The company will acquire 1,50,000 shares for a consideration of Rs 406.5 crore Strong Cashflows to bring down Net Debt to near-zero by December 31 September 30 consol net debt at Rs 535 crore (cash and bank balances), Rs 400 crore further reduction from SPA for logistics parks in the next four weeks Shashi Kiran Shetty, Chairman, Allcargo Logistics, ECU Worldwide and Gati Ltd, said, “Our commitment to values puts customers first and entrepreneurship as a way of life at Allcargo. In a true showcase of our capabilities and transformational growth, we have posted highest ever Q2 revenue and EBITDA and also the highest margin ever for any quarter, this time.” Further commenting on the additional investments in Gati, he remarked, “I am extremely delighted to see the final steps in our journey of Gati acquisition. This is our vote of confidence on the management team as we make significant additional investments. This is also based on our belief in India’s rapid growth and emergence as major manufacturing hub for the world. This will lead to consistent economic progress, keeping in mind our young aspiring fellow Indians”. “We share an extremely close relationship with KWE group built on mutual respect and that shall continue acroreoss businesses. With this acquisition, we shall be able to expedite our restructuring plans to take Gati forward,” he further added. Result PDF