Allcargo Logistics returns to Rs 19 crore Q2FY27 profit after loss

Allcargo Logistics Limited returned to a consolidated profit after tax of Rs 19 crore in Q2FY27, against a Rs 5 crore loss in Q2FY26, as EBITDA rose Rs 15 crore to Rs 77 crore and the prior-year Rs 15 crore exceptional charge did not recur. Revenue from operations increased 3.4% to Rs 555 crore.

How did Allcargo Logistics return to profit in Q2FY27?

Allcargo Logistics returned to profit as pre-exceptional profit before tax rose to Rs 24 crore in Q2FY27 from Rs 9 crore in Q2FY26, while the prior-year quarter included a Rs 15 crore exceptional charge that was absent in Q2FY27. Including a Rs 1 crore share of profit from a joint venture, post-exceptional profit before tax was Rs 25 crore, compared with a Rs 6 crore loss a year earlier. Tax of Rs 6 crore resulted in profit after tax of Rs 19 crore.

The sequential comparison also improved in FY27. Profit after tax rose 35.0% from Rs 14 crore in Q1FY27 to Rs 19 crore in Q2FY27, while post-exceptional profit before tax increased from Rs 19 crore to Rs 25 crore. Revenue increased 1.6% quarter on quarter from Rs 546 crore, showing that the profit increase was larger than the revenue movement.

What drove Allcargo Logistics' higher operating profit?

Allcargo Logistics increased earnings before interest, tax, depreciation and amortisation, or EBITDA, by 24.2% year on year to Rs 77 crore in Q2FY27 as gross profit rose 13.0% to Rs 174 crore, faster than the 3.4% increase in revenue to Rs 555 crore. Direct overheads declined to Rs 381 crore from Rs 383 crore despite the Rs 18 crore increase in revenue. Gross margin therefore rose to 31.4% from 28.7%.

Employee expenses increased to Rs 56 crore from Rs 53 crore and other expenses rose to Rs 41 crore from Rs 39 crore. Together, those expenses increased by Rs 5 crore, compared with the Rs 20 crore increase in gross profit. EBITDA margin consequently reached 13.9%, versus 11.5% in Q2FY26 and 13.0% in Q1FY27.

The first-half figures showed a similar pattern. H1FY27 revenue rose 7.1% to Rs 1,101 crore from Rs 1,028 crore in H1FY26, while gross profit increased 12.3% to Rs 337 crore. EBITDA grew 30.1% to Rs 148 crore from Rs 113 crore, and the EBITDA margin increased to 13.4% from 11.0%.

What changed below EBITDA and in exceptional items?

Allcargo Logistics reported earnings before interest and tax, or EBIT, of Rs 29 crore in Q2FY27, up from Rs 11 crore in Q2FY26, after depreciation declined to Rs 48 crore from Rs 51 crore. Depreciation on right-of-use assets fell to Rs 41 crore from Rs 43 crore, while depreciation on property, plant and equipment decreased to Rs 7 crore from Rs 8 crore. The Rs 15 crore EBITDA increase and Rs 3 crore depreciation reduction accounted for the Rs 18 crore increase in EBIT.

Other income declined to Rs 10 crore from Rs 13 crore, while finance cost was unchanged at Rs 15 crore. Finance cost included Rs 13 crore related to lease liabilities in both quarters and Rs 2 crore related to liabilities other than leases. Pre-exceptional profit before tax rose to Rs 24 crore from Rs 9 crore, and its margin increased to 4.5% from 1.7%.

The exceptional-item comparison materially affected the reported turnaround. The Rs 15 crore charge in Q2FY26 changed its Rs 9 crore pre-exceptional profit before tax into a Rs 6 crore post-exceptional loss, whereas Q2FY27 recorded no exceptional item. H1FY27 also had no exceptional item, compared with a Rs 9 crore charge in H1FY26.

How did Allcargo Logistics' H1FY27 earnings compare with last year?

Allcargo Logistics reported H1FY27 profit after tax of Rs 33 crore, compared with a Rs 15 crore loss in H1FY26. Pre-exceptional profit before tax was Rs 43 crore, compared with a Rs 2 crore loss in the earlier half, while post-exceptional profit before tax was Rs 44 crore versus a Rs 11 crore loss. The company recorded a Rs 1 crore share of profit from a joint venture in H1FY27.

Margins moved higher alongside the earnings result. H1FY27 gross margin was 30.6%, compared with 29.2% in H1FY26, and EBITDA margin rose by 2.4 percentage points to 13.4%. Pre-exceptional profit before tax margin was 3.9%, compared with negative 0.2% in the prior first half, while tax expense was Rs 11 crore against Rs 4 crore.

What does Allcargo Logistics' September 2026 balance sheet show?

Allcargo Logistics reported total assets of Rs 1,758 crore at September 2026, compared with Rs 1,736 crore at March 2026. Current assets increased to Rs 775 crore from Rs 704 crore, including Rs 109 crore of investments in liquid mutual funds, compared with no such balance at March 2026. Trade receivables rose to Rs 454 crore from Rs 429 crore, while cash and cash equivalents declined to Rs 25 crore from Rs 73 crore.

Equity increased to Rs 606 crore at September 2026 from Rs 574 crore at March 2026. Non-current liabilities were Rs 502 crore, compared with Rs 498 crore, including lease liabilities of Rs 454 crore against Rs 445 crore. Current liabilities declined to Rs 650 crore from Rs 664 crore, while current borrowings fell to Rs 82 crore from Rs 84 crore and non-current borrowings decreased to Rs 14 crore from Rs 18 crore.

Conclusion

Allcargo Logistics' Q2FY27 return to profit reflected both operating improvement and a different exceptional-item outcome from Q2FY26. Revenue increased by Rs 18 crore year on year, but gross profit rose by Rs 20 crore and EBITDA by Rs 15 crore, resulting in Rs 19 crore of quarterly profit after a Rs 5 crore loss. The first-half result followed the same direction, with Rs 33 crore of profit after tax against a Rs 15 crore loss.

The next disclosed event is the leadership transition effective January 1, 2027. Ketan Kulkarni is scheduled to become Chief Growth Officer of Allcargo Group, while Vijay Nehra is scheduled to assume the roles of Managing Director and Chief Executive Officer of Allcargo Logistics.