Allcargo Logistics

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 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

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

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

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.

The company had posted a net profit of Rs 53.71 crore for the year-ago period, Allcargo Logistics said in a filing to BSE

Allcargo Logistics reported a multi-fold jump in consolidated net profit to Rs 354.16 in the October-December quarter compared to Rs 22 crore in the same quarter last year.

His role as the company's non-executive non-independent vice-chairman will be to guide, mentor and help drive its transformation along with subsidiaries ECU Worldwide and Gati Limited

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

The company said the industry went through pain with low rates over several years and has now turned around post consolidation and do not see freight rates going back to earlier levels in near future.

The firm is looking to raise funds and has appointed Jefferies Financial to evaluate options

The promoters of the Nordicon Group will own the balance 35 per cent and will continue to lead the company as a joint venture

Acquires 65% stake in JV to become market leader in Nordic region, continue its focus on offering multi-modal digital logistics services

Allcargo Logistics on Wednesday announced appointment of V S Parthasarathy and a Swiss national, Martin Mueller as independent directors on its board. Parthasarathy was till recently Group CFO and CIO of Mahindra & Mahindra while Mueller is a former partner at global consulting giant McKinsey. Mueller and Parthasarathy have also joined the board of Allcargo's wholly-owned subsidiary ECU Worldwide, the company said in a statement. ECU Worldwide is a Belgian multinational, operating Allcargo Group's global operations with presence in over 160 markets and is the world's largest less-than-cargo load (LCL) consolidator. "With Partha and Martin joining our Board... I expect this intellectual and diversified combination of cross-functional leadership and professional expertise will help us immensely as Allcargo prepares to move forward in its journey of excellence leading to meet our vision for the future, said Shashi Kiran Shetty, Founder and Chairman, Allcargo Logistics. Parthasarathy

The facility has been conceptualised to achieve economy of scale and provide unparalleled customer service

Firm says this is one of the largest over-dimensional cargo movements in India

The logistics firm had clocked a PAT of Rs 66.84 crore for the corresponding quarter of the previous financial year, it said in a BSE filing

Shetty's tenure with NITIE will start from 7th November 2020 for a period of four years

Hegde will continue to be joint managing director of Allcargo Logistics

The company on Saturday announced that its promoters have set the floor price at Rs 92.58, which is 19% lower than the firm's last closing price of Rs 114.5 on Monday