Page 2 - Allcargo Logistics

Allcargo Logistics arm partners with ShipBob for freight services

ECU Worldwide, a wholly-owned global subsidiary of Allcargo Logistics, on Thursday said it has partnered with ShipBob to offer its ocean and air freight services to the latter's receiving hubs and fulfilment centres in the US, Europe, Canada and Australia. Under the collaboration, ECU Worldwide will become an integral part of FreightBob, an end-to-end managed freight and inventory distribution programme of ShipBob, through its network across over 180 countries, more than 2,400 direct trade lanes and door-to-door deliveries, Allcargo Logistics said. This would help ShipBob manage its e-commerce inventory for their merchants in over 50 markets, as a part of ECU Worldwide LCL (less-than-container load) offering, it stated. "Our new-age tech-driven booking platform ECU360 has redefined the global supply chain efficiency with convenient features, continued product innovation and a worldwide network. The association with ShipBob will help us further deepen our delivery capabilities acros

Port to profit: Allcargo founder Shashi Kiran Shetty shares his life story

Shetty, the logistics leader who lives where Rajesh Khanna once did, takes Dev Chatterjee through his life that started at the docks, with some cinematic stopovers

Allcargo Logistics soars 9% on healthy volumes

Recently, the company's arm Allcargo Supply Chain Private Limited (ASPL) said would be expanded its warehouse space by adding 3 million square feet in the next two-three years.

Allcargo Logistics Q3 results: PAT down 88% at Rs 17 cr, revenue falls 22%

Allcargo Logistics Ltd on Tuesday reported an 88 per cent decline in consolidated Profit After Tax (PAT) to Rs 17 crore in the December quarter. The company had posted a consolidated PAT of Rs 146 crore in the year-ago period, Allcargo Logistics said. Revenue from operations in the third quarter of the ongoing fiscal fell 22 per cent to Rs 3,212 crore from Rs 4,127 crore a year ago, the company said. The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 111 crore during the quarter under review as against Rs 253 crore, registering a 56 per cent decline, it said. The company said it expects the global trade to revive in the second half of 2024. In the near term, Red Sea crisis has taken out some capacity from the market, leading to a balance against subdued demand, which should have marginal positive impact in the June quarter, Allcargo said. It also said the company has undertaken major cost reduction initiatives that will help signific

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Allcargo Logistics surges 10%, Gati slips 7% on biz restructuring plan

As per the approved swap ratio, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati

Allcargo Logistics, Allcargo Gati boards approve businesses restructuring

Allcargo Logistics Ltd and Allcargo Gati boards on Thursday approved restructuring of businesses, Allcargo Group said in a statement. As per the scheme, International Supply Chain (ISC) business will be demerged into a separate entity -- Allcargo ECU Ltd, it said. This would include the India part of ISC business, along with the international subsidiaries held under the ECU Worldwide NV, it said. It also said the express and contract logistics businesses would come under the resulting entity -- Allcargo Logistics (post ISC demerger) -- which will benefit from combined synergies. Moreover, the shareholders of Allcargo and Allcargo Gati (formerly Gati Ltd) will get direct shareholding, eliminating inefficient complex corporate structure, the company said. As per the approved swap ratio, based on the recommendations of the independent valuers, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post-ISC demerger) for every 10 shares held in ..

Stocks to Watch: Allcargo Logistics, Mazagon Dock, Cochin Ship, Inox India

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Logistics operator Allcargo plans to achieve carbon neutrality by 2040

Logistics operator Allcargo Group plans to achieve carbon neutrality by 2040 and will only partner with carriers using greener fuels, according to the company's latest ESG report. India is working on achieving its net zero emission targets by 2070 and attaining a 45 per cent reduction in emissions intensity of GDP by 2030 from the 2005 level, it said. The company report titled 'Navigating the Green Horizon', released on Thursday, highlighted the group's commitment to achieve carbon neutrality by 2040 through its green and renewable ways. It also spells out in detail the group's other Environmental, Social, and Governance (ESG) goals which include energy and emissions, occupational health and safety, diversity, equity, and inclusion (DEI), community development, labour practices and human rights, cybersecurity, and corporate governance. "The true progress is never about profit alone. It's about what good it can do for people and the planet. This is why integrating ESG ...aspects int

Allcargo's Gati expects 18-20% increase in festive season demand this year

Allcargo group firm Gati on Wednesday said it is expecting an 1820 per cent increase in festive season demand, particularly in segments such as e-commerce and white goods, among others, this year. The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities. Besides, a mega surface transhipment centre and distribution warehouse at Bhiwandi in Thane district of Maharashtra, Gati also has surface transhipment centre (STC) at Farukh Nagar (Haryana), Indore, Nagpur and Guwahati. The company will help SMEs in those regions build more geographically diversified markets during the festive season, Gati Express and Supply Chain Pvt Ltd (GESCPL) said. "We are fully prepared with our enhanced delivery capabilities to meet the festive demand surge and uptick in the order volume. We expect an 1820 per cent increase in festive demand this year," said Rajesh Gowrinath, senior Vice President for sales at Gati Ltd. The company

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IT stocks shine in lacklustre trade; Sensex ends 99 pts higher

CLOSING BELL ON JUNE 12, 2023: The Nifty reclaimed the 17,600 level; In the broader market, BSE Midcap index advanced 0.5 per cent, and Smallcap added 0.7 per cent on Monday.

Allcargo Logistics completes acquisition of 30% stake in Gati subsidiary

With the conclusion of this deal, Allcargo, along with Gati, now holds 100 per cent stakes in GKEPL and assumes complete control

Allcargo Logistics net profit declines 78% to Rs 51.90 cr in March quarter

Allcargo Logistics' consolidated net profit declined 78 per cent to Rs 51.90 crore in the March 2023 quarter, according to a late-night regulatory filing on Tuesday. The company had posted a consolidated profit of Rs 240.55 crore in Q4 FY22, the filing said. Allcargo, in a statement, announced the appointment of logistics industry veteran Adarsh Hegde as its Managing Director. The consolidated net profit in the January-March quarter of the previous fiscal stands at Rs 51.90 crore, taking into consideration profit from continuing and discontinuing operations, as per the filing. The total income from continued operations slipped 37.49 per cent to Rs 3,415.40 crore in the quarter under review against Rs 5,464.23 crore clocked in the March 2022 quarter, it added. For the full fiscal 2022-23, its consolidated profit (from continuing and discontinuing operations) fell 48 per cent to Rs 653.21 crore from Rs 964.59 crore in FY22. The total income (consolidated) from continuing operations

Selectively ride logistics stocks as tech wave disrupts market: Analysts

With the Covid-19 pandemic crippling the supply-chain management across borders, investors and venture capital firms started to place their bets on logistics, seeing manifold growth in e-Commerce

Allcargo buys partner's 39% stake in contract logistics arm for Rs 145 cr

Allcargo Logistics on Monday acquired the remaining 38.87 per cent stake of its partner ACCI in the contract logistics arm for Rs 145 crore, valuing the company at Rs 373 crore at an enterprise level. Allcargo has also decided to sell its non-core customs clearance business by divesting its 61.13 per cent stake for an enterprise value of Rs 42 crore. With the acquisition, Allcargo will take its stake to 100 per cent in the contract logistics business and create an effective synergy between contract logistics and express distribution. The acquisition price is based on the agreement that was signed with ACCI in 2016 and with growth in this business over the years, the company said in a statement. The acquisition offers management control and facilitates strategic decision-making for the business. This will also help us enhance service delivery capabilities to drive growth. The business has witnessed robust growth over the years diversifying into several new industry segments. With f

Allcargo Logistics Sept-quarter consolidated PAT falls 13% to Rs 230 crore

Allcargo Logistics has reported a 13 per cent fall in consolidated Profit After Tax (PAT) at Rs 230 crore for the quarter ended September 30, 2022. The company's consolidated PAT in the year-ago period was Rs 263 crore, as per a regulatory filing. The income from operations rose 6.5 per cent to Rs 5,300 crore in the reporting quarter as against Rs 4,978 crore in the second quarter of FY22, as per the filing. Earnings before income, taxes, depreciation and amortisation (EBITDA) during the quarter stood at Rs 450 crore. "We have posted the highest-ever Q2 revenue and EBITDA and also the highest margin ever for any quarter, this time, said Shashi Kiran Shetty, Chairman, Allcargo Logistics, ECU Worldwide and Gati Ltd. On the board's approval to the company's plans to buyout the remaining stake in GKEPL, Shetty said. "We share an extremely close relationship with KWE group built on mutual respect and that will continue across businesses. With this acquisition, we will be able to exped

Allcargo expects to be among top 10 logistics firms globally in 3-4 yrs

Logistics firm Allcargo Group is bullish on its business prospects and expects to grow at an average 15 per cent annually, mainly driven by organic growth, its Chairman Shashi Kiran Shetty has said. The company is also looking to be among the top 10 players in the global logistics space in the next 3-4 years. According to a recent investors' presentation, the group is aspiring to achieve Rs 25,000-30,000 crore topline by 2026 with as much as Rs 20,000-25,000-crore revenue from its international supply-chain business, and Rs 2,700-3,500 crore from its express and contract logistics segment. "We are pretty bullish (on our business prospects) in the years to come. Fundamentally, we are focussed and these businesses have infinite growth opportunities. We are among the top 20 logistics companies in the world today and we can get into the top 10 in the next 3-4 years," Shetty told PTI. The company's strategy will always be long-term, sustainable and growth-minded to consolidate the indus

Logistics stks price in most positives; no near-term upside seen: Analysts

The new logistics policy aims to trim the costs to single digits, from 13-14 per cent of the GDP at present, by 2030

Allcargo Logistics Q1 PAT rises over two-fold to Rs 280 cr; revenue up 65%

The company had posted a PAT of Rs 106 crore in the first quarter of the previous fiscal, Allcargo said in a release on Thursday.