ACLGATI

Allcargo Gati financials

Market cap
₹971 Cr
Sector
Services
Calls analysed
3
Latest concall · Q1 FY26 · call held 06 Aug 2025

Allcargo Gati Q1 FY26

Gross Margin 25%

What went well

  • Gross margin improved by 170 basis points to 25% in Q1 FY26 compared to 23% in Q4 FY25.
  • Express business EBITDA margin improved by 100 basis points to 4% in Q1 FY26 compared to 3% in Q4 FY25.
  • New business addition grew 120% YoY, including top 500 businesses, indicating successful client acquisition.

What to watch

  • Express logistics volume declined by 6,000 metric tonnes YoY in Q1 FY26, though attributed to shedding unprofitable customers.
  • Express business revenue slightly declined to INR357 crores in Q1 FY26 from INR358 crores in Q1 FY25.
Read the full call →

What Allcargo Gati does

AllcargoGATI, formerly Gati Limited (established 1989), runs an end-to-end logistics network across India built on three service lines: Ground Express (multimodal road delivery to every government-approved PIN code), Air Express (air freight via alliances with leading Indian airlines, connecting Tier 1 and Tier 2 cities), and Supply Chain (grade-A warehousing, inventory and distribution management for business customers). It also offers retail parcel products for individual shipments. Revenue is earned from freight/logistics fees across these segments, supported by a nationwide network of hubs, logistics parks and customer convenience centres, part of it operated directly and part through franchisees.

Segments

  • Ground Express
  • Air Express
  • Supply Chain
  • Retail Services
Customer Convenience Centres
599 (159 company-owned + 440 franchisee-operated)
Offices across India
700+
Distribution / Air Transit Hubs
92 (84 Distribution Hubs + 8 Air Transit Hubs)
Logistics Parks
22
Distribution & warehousing space
3.85 million sq. ft.
PIN-code coverage
100% of Government-approved PIN codes
Founded 1989Headquarters Mumbai, Maharashtra, IndiaEmployees 2,800 Company website

Guidance record · Q1 FY26

what the last two calls moved 7 tracked 0 delivered 2 missed 5 open
  • Express Business EBITDA Margin missed said Q3 FY25 Promised: >6% ending in the year (FY25) Q1 FY26: Confirmed Q4 FY25 was 3%
  • Express Business EBITDA Margin diluted said Q3 FY25 Promised: 7-8% realistic estimate for next year (FY26) Q1 FY26: Reiterated 6.5% to 7% target, but Q1 actual is only 4%
  • Express Business Gross Margin on track said Q3 FY25 Promised: 29% by FY27 Q1 FY26: Q1 actual improved to 25%, keeping interim targets in sight

All 7 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY26: revenue down 0.2%, net profit up 156.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY24Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26
Revenue442 424 355 358 426 −3%392 −8%385 +9%357 −0%
EBITDA15 7 13 19 18 +20%21 +211%10 −28%13 −30%
Net profit-4 19 -6 -2 -1 +66%1 −97%15 +340%1 +156%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −32.5% 1Y

₹50₹60₹70₹80₹90₹100Nov 24Dec 24Feb 25Mar 25May 25Jun 25Aug 25Sept 25Nov 25Q3 FY25 — 10 Feb 2025Q4 FY25 — 16 May 2025Q1 FY26 — 6 Aug 2025

1Y: ₹97.84 on 8 Nov 2024 → ₹66.05. High ₹98.12 (11 Dec 2024), low ₹53.15 (28 Mar 2025).

How the price took the results

close before → close after

Q1 FY26
−3.7%
6 Aug
Q4 FY25
+4.3%
16 May
Q3 FY25
−3.4%
10 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 4.8% a year over 2 years, FY23 to FY25. Operating margin held at 4.3%.

Year endingFY23FY24FY25
Revenue₹1.7k Cr₹1.6k Cr₹1.6k Cr
Operating profit₹70 Cr₹51 Cr₹67 Cr
Operating margin4.1%3.1%4.3%
Interest₹29 Cr₹30 Cr₹23 Cr
Depreciation₹59 Cr₹69 Cr₹73 Cr
Net profit₹-11 Cr₹6 Cr₹12 Cr
Net margin-0.6%0.4%0.8%
Cash from operations₹58 Cr₹73 Cr₹79 Cr
Free cash flow₹26 Cr₹50 Cr₹72 Cr
ROCE3.0%-1.0%2.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY20FY21FY22FY23FY24FY25
Equity capital₹24 Cr₹24 Cr₹25 Cr₹26 Cr₹26 Cr₹29 Cr
Reserves₹719 Cr₹501 Cr₹535 Cr₹589 Cr₹609 Cr₹784 Cr
Borrowings₹476 Cr₹348 Cr₹324 Cr₹321 Cr₹386 Cr₹236 Cr
Other liabilities₹375 Cr₹364 Cr₹347 Cr₹349 Cr₹302 Cr₹324 Cr
Total liabilities₹1.6k Cr₹1.2k Cr₹1.2k Cr₹1.3k Cr₹1.3k Cr₹1.4k Cr
Fixed assets₹1.0k Cr₹648 Cr₹673 Cr₹685 Cr₹714 Cr₹674 Cr
Capital work in progress₹2 Cr₹0 Cr₹1 Cr₹1 Cr₹4 Cr₹3 Cr
Investments₹78 Cr₹0 Cr₹10 Cr₹0 Cr₹0 Cr₹3 Cr
Other assets₹477 Cr₹590 Cr₹547 Cr₹600 Cr₹606 Cr₹694 Cr
Total assets₹1.6k Cr₹1.2k Cr₹1.2k Cr₹1.3k Cr₹1.3k Cr₹1.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Sep 2025

Since Sep 2024, the public added +0.42 pp while DIIs trimmed −0.40 pp. The shareholder count shrank 5% to 1,03,532.

Promoters
46.1%
FIIs
2.0%
DIIs
3.0%
Public
48.9%

Since Sep 2024

  • Public +0.42 pp
  • DIIs −0.40 pp
  • Promoters −0.02 pp

How it drifted, 12 quarters

Over this window promoters fell from 53.1% to 46.1% — −7.0 pp.

Dec '22Mar '24Sep '25

Ownership split by quarter, oldest first. Dec '22: Promoters 53.1%, FIIs 2.1%, DIIs 1.3%, Public 43.5%.Mar '23: Promoters 53.1%, FIIs 2.2%, DIIs 1.4%, Public 43.3%.Jun '23: Promoters 53.0%, FIIs 1.6%, DIIs 1.4%, Public 43.9%.Sep '23: Promoters 53.0%, FIIs 0.8%, DIIs 1.5%, Public 44.7%.Dec '23: Promoters 52.9%, FIIs 0.8%, DIIs 1.7%, Public 44.6%.Mar '24: Promoters 52.9%, FIIs 1.0%, DIIs 1.7%, Public 44.4%.Jun '24: Promoters 46.9%, FIIs 6.9%, DIIs 4.6%, Public 41.6%.Sep '24: Promoters 46.1%, FIIs 2.0%, DIIs 3.4%, Public 48.5%.Dec '24: Promoters 46.1%, FIIs 2.1%, DIIs 3.5%, Public 48.3%.Mar '25: Promoters 46.1%, FIIs 2.4%, DIIs 3.0%, Public 48.5%.Jun '25: Promoters 46.1%, FIIs 2.1%, DIIs 3.0%, Public 48.8%.Sep '25: Promoters 46.1%, FIIs 2.0%, DIIs 3.0%, Public 48.9%.

Who was buying across the market this quarter →

Who is on the register

Named in the Sep 2025 filing

Every holder of Allcargo Gati above SEBI's 1% disclosure line, and what changed since Jun 2025.

HolderStakeChange
Allcargo Logistics Limited 44.42%unchanged
Mukul Mahavir Agrawal 4.76%unchanged
Kintetsu World Express Inc 2.94%unchanged
Bavaria Industries Group Ag Corporate1.62%unchanged
Neera And Children Trust 1.57%unchanged
Mauryan First AIF1.19%unchanged
Manish Agarwal Benefit Trust 0.08%unchanged
Dhruv Agarwal Benefit Trust 0.01%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (3)

Read the Q1 FY26 call →

Learn to analyse Allcargo Gati

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