Allcargo Terminals Limited — Q3 FY26
Allcargo Terminals delivered a strong Q3 FY26 with revenue of ₹218 crore (+17% YoY) and PAT of ₹15 crore (+28% YoY), driven by 18% volume growth to 1.76 lakh TEUs.
bullish
high
✓ 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.
71%Questions answered3Evaded / deflected12Questions auditedContradictedNumbers vs filing
Answered
Medium priority
Directional growth at ICD vs GFS
Asked by Vikram Suryamanchi, Philip Capital
Management directly confirmed similar growth at ICD.
Read the exchange
Question
are we seeing good growth even at ICD also or similar to what we are looking at GFS.
Suresh Kumar (CEO)
in terms of directional growth in the ICD, it is similar growth that we have seen.
Partial answer
Medium priority
Impact of speedy CFS opportunity on importers
Asked by Vikram Suryamanchi, Philip Capital
Management gave general benefits but did not quantify impact on importers.
no specific impact quantificationgeneral commentary
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Question
will that create more opportunity for importers to take cargo under faster clearance without taking it to the CFS and how do you see that panning out?
Suresh Kumar (CEO)
Any improvement in technology which makes life simpler for the customer is obviously very welcome... CFSS and ICD exist because there is a need for customers to store containers...
Evasive
High priority
Capex for speedy upgradation
Asked by Vikram Suryamanchi, Philip Capital
Management deferred the answer to a future call without providing any estimate.
deferred to next callno number given
Read the exchange
Question
how much we would be spending on speedy upgradation and capacity increase.
Suresh Kumar (CEO)
we are in discussion with JNPA to finalize the work... Maybe in the next investor call I think we will have clarity about this.
Answered
Medium priority
Proportion of DPD at JNPA port
Asked by Vikram Suryamanchi, Philip Capital
Management provided a specific range for DPD proportion.
Read the exchange
Question
what would be broadly proportion of DPD at JNPA port currently and are we seeing that is like almost like a mature now?
Suresh Kumar (CEO)
This number has been in the high 70s for the past many quarters... it's in the range of about 75 to around 80%.
Answered
High priority
Full kick-in of JNPT expansion in FY27
Asked by Daril Javiri, Crown Capital
Management confirmed the capacity will be fully effective in FY27.
Read the exchange
Question
we've done an expansion in JNPT. Right. So for FY27 we can expect the full kick in of that right sir.
Suresh Kumar (CEO)
the capacity addition that we did was in the month of August... this whole capacity as you rightly mentioned will come into play for us in the next financial year.
Answered
High priority
Volume growth expectation for FY27
Asked by Daril Javiri, Crown Capital
Management gave a specific growth expectation of 8-9% for FY27.
Read the exchange
Question
So with that additional capacity which I think is nearly a quarter's volume. So what can the growth be in FY27 sir?
Suresh Kumar (CEO)
we currently this year growing at about 7%. We expect to add at least another one or two percentage points to this growth next year.
Answered
High priority
Operating leverage and EBITDA margin outlook
Asked by Daril Javiri, Crown Capital
Management provided specific historical and current EBITDA per TEU and indicated continued improvement.
Read the exchange
Question
once the additional volumes kick in what kind of operating leverage we can get... how do we see the EBITDA margin going ahead?
Pam (CFO)
EBITDA per TEU used to be around 1,800 1,900 then we crossed 2,000 and now we are very close to 2,500... this upward trend which is there in EBITDA per TEU would continue.
Evasive
Medium priority
DFC connectivity to JNPT and volume uptake
Asked by Kiran Gard, Nightstone Capital Management
Management did not provide any volume uptake estimate for DFC connectivity.
no estimate givenreframed to general growth
Read the exchange
Question
has dedicated freight corridor network connected to JNPT port? ... what sort of volume uptake can we see once it is connected.
Suresh Kumar (CEO)
Not yet. ... we have not really done an estimate around it... our intention is that the market grows at a certain pace. We would like to grow faster than the market.
Answered
High priority
Capacity utilization percentage for this year
Asked by Nilles Sharma, Anand Skyon Private Limited
Management provided capacity and volume numbers to derive utilization.
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Question
we have handled 1.76 lakh TEU this quarter... may I know the capacity utilization percentage that we can expect for this year?
Suresh Kumar (CEO)
weighted average for the year you could consider our capacity to be in the range of about 9 to 9.2 lakh TEUs... if you were to do around seven that's the capacity utilization of laden containers.
Answered
High priority
Expected EBITDA per TEU in coming years
Asked by Nilles Sharma, Anand Skyon Private Limited
Management gave current level and expectation to maintain around 2,400.
Read the exchange
Question
how much EBITDA that we can expect in coming 2-3 years per container which was around 2,300 last year.
Suresh Kumar (CEO)
we have now come to an EBITDA per TEU in the range of around 2,400. We expect our EBITDA to be around this region... we would be happy if we are able to hold our EBITDA at the current levels.
Evasive
Medium priority
Revenue percentage from DFC expansion
Asked by Nilles Sharma, Anand Skyon Private Limited
Management did not provide any revenue percentage estimate for DFC.
no percentage givenreframed to general approach
Read the exchange
Question
what percentage of revenue that we can expect from dedicated freight corridor expansion.
Suresh Kumar (CEO)
We have not separately looked at dedicated freight corridor. The way we approach the market is there is a certain capacity... that will deliver us the revenue and EBITDA goals.
Answered
High priority
Debt raising plans for capacity expansion
Asked by Nilles Sharma, Anand Skyon Private Limited
Management provided specific capex and borrowing estimates.
Read the exchange
Question
any planning to raise the debt for capacity expansion? ... target is 13 lakh TEU till 2030.
Pam (CFO)
we would be investing capex upwards of in the range of 400 crores... we would be borrowing somewhere in the range of 150 crores based on the present estimate.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| EBITDA per TEU for Q3 is 2,412 | 2,412 | 43 | Overstated vs filing |
| Volume growth this year at about 7% | 7% | 17% | Understated vs filing |
| Expect to add 1-2 percentage points growth next year | 1.5% | 17% | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.