Allcargo Logistics Limited — Q2 FY26
Allcargo Logistics reported a solid Q2 FY26 with consolidated revenue of ₹537 crore (+11% YoY) and EBITDA of ₹62 crore (+27% YoY), driven by record performance in both express a...
bullish
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
91%Questions answered0Evaded / deflected11Questions auditedConsistentNumbers vs filing
Answered
High priority
Timeline for demerger share distribution and listing of global company.
Asked by Ravi Mata, OneUp
Management gave specific timeline for filing and expected listing month.
Read the exchange
Question
by when should shareholders expect to get the global company's shares and by when will it get listed?
Ravi (management)
we expect to file the IM in the next week and a half and subsequent to that subject to the timeline for approval from the exchanges we expect it to be in January.
Answered
High priority
Timeline for Gati shareholders to receive swap shares.
Asked by Ravi Mata, OneUp
Management gave a clear timeline of this week.
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Question
Gati shareholders doesn't seem to have received the swap shares or by when is that expected?
Deepak (management)
Yes Ravi. So this week that will happen that entire trade of new shares will happen this week.
Answered
Medium priority
Clarification on revenue difference between consolidated and ECU global.
Asked by Sundar Sarangar Rajan, individual investor
Management explained the gap by noting the India part of international supply chain not included in ECU global.
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Question
there is a difference of 861 crores between consolidated and ECU global... will that be my understanding is correct?
Ravi (management)
What you see as the reported number for Chicago logistics represents the domestic integrated supply chain business... The India part of business you're not faced in.
Partial answer
Medium priority
Current market scenario and possibility of price hikes.
Asked by Raj Nigam, SR Investments
Management gave qualitative positive outlook but no specific price hike commitment or numbers.
no specific price hike percentage givenpast GPI response not quantified
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Question
what is the current market scenario and in this market situation can we make some price hike?
Ketan (management)
the macroeconomic indicators and the micro economic indicators are very positive... there is always an opportunity to increase the yield through a GPI... last year was the first we are not too happy with the response.
Answered
High priority
Repeat of amortization charge details and impact on PBT.
Asked by Watsar Paraksha, Nights Capital Management
Management provided specific numbers for amortization and adjusted profit.
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Question
can I just repeat the amortization bit which you called out earlier? I just missed that.
Ravi (management)
the consolidated financials have a charge of amortization of 12 cr in Q2 and for of 25 cr for the first half year... PBT which is reported 18 cr loss is effectively profit of 9 cr for the quarter once you add this 15 cr and 12 cr back.
Answered
High priority
Depreciation run rate and total share count post demerger.
Asked by Watsar Paraksha, Nights Capital Management
Management confirmed depreciation run rate and share count numbers.
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Question
the depreciation run rate should be around 50 crores quarterly run rate... and secondly whenever the GI shareholders are credited the shares what will be the total share count post that?
Ravi (management)
yes 50 cr in that region... it will be 149 cr.
Answered
Medium priority
Pre-Ind AS margin for contract logistics business.
Asked by Watsar Paraksha, Nights Capital Management
Management corrected the margin to 8% pre-Ind AS and 29% post-Ind AS.
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Question
the pre-Ind AS margin for the contract logistics business is around 4%?
Ravi (management)
it's not 4% it's 8%. And if you see post Ind AS the EBITDA margin is on upwards of 29% or so.
Partial answer
High priority
Guidance on margins going forward.
Asked by Ranjay Popi, Banyan Capital
Management reiterated prior guidance but did not provide specific margin targets for upcoming quarters.
no specific EBITDA margin guidance for near termreferred to earlier guidance without repeating numbers
Read the exchange
Question
I just wanted the guidance on margins. Where does the management see the margins going forward from here?
Ravi (management)
the guidance which we gave earlier in our analyst meet in September we stand by that guidance... CAGR of 20% up to FY28 and gross margin on H1 level we are at 29%.
Answered
Medium priority
Explanation of operating leverage levers.
Asked by Ranjay Popi, Banyan Capital
Management explained the concept and gave specific example of SG&A costs shrinking while revenue expanded.
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Question
can you shed some light on the levers that helps in the operating leverage?
Ravi (management)
the operating leverage that you've been referring to primarily refers to the SG&A cost base remaining largely consistent and therefore the expansion in revenue and growth creating a multiplier impact on the EBITDA.
Answered
Low priority
Tech developments in the company.
Asked by Raj Nigam, SR Investments
Management provided detailed list of tech initiatives.
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Question
what are the developments we are doing in tech?
Ketan (management)
we are working on various tech acceleration measures across the strategic pivots... moving to cloud native, mobile first, new booking app, control tower, WMS revamp, Oracle ERP.
Answered
Medium priority
New client additions post-merger and cross-selling synergies.
Asked by Raj Nigam, SR Investments
Management gave specific verticals and examples of cross-selling opportunities.
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Question
any new client addition post merger like with the help of cross-selling or any synergies?
Ketan (management)
our micro focused growth accelerators that we have identified force synergy between the two divisions... quick commerce, auto and engineering, life sciences and healthcare.
Answered
Medium priority
Customer concentration: top 10 customers contribution.
Asked by Raj Nigam, SR Investments
Management provided specific percentage ranges for each segment.
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Question
what is the percentage contribution of let's say top 10 customers?
Ketan (management)
it would be much higher in consultative logistics about 50% plus whereas in the express it would be in the 20% range.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Revenue growth 10-11% this quarter | 11% | 11% | Matches filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.