Allcargo Terminals Limited — PPTs, 14-05-2025: Investor Presentation

1. Financial Highlights:

Allcargo Terminals delivered a 1% YoY volume growth to 620,756 TEUs in FY25, with revenue rising 3% YoY to ₹758 Cr. EBITDA grew 9% YoY to ₹128 Cr, pushing margins up from 16.0% to 17.0%. Q4 volumes were stable at 153,575 TEUs, revenue edged up 2% to ₹186 Cr, and EBITDA jumped 26% to ₹34 Cr. PAT declined 32% to ₹30 Cr due to increased tax provisions and one-offs (₹10.2 Cr). The asset base remained stable around ₹960 Cr, with borrowings steady at roughly ₹113 Cr and cash at ₹17 Cr.

2. Strategic Initiatives & Growth Drivers:

Capacity expanded by 29%, driven by land additions at JNPT and Mundra, targeting close to 1.28 million TEUs by FY28. A ₹115 Cr capex in HORCL facilitates a multimodal logistics park near NCR leveraging rail corridors, aiming to shift freight from road to rail. Digital tools like the myCFS app boost customer experience and efficiency, supporting goals to handle 1 million laden TEUs and double profits by FY28.

3. Business Developments:

Allcargo fully acquired Speedy Multimodes and is investing in HORCL’s Farukhnagar ICD connected by rail. Plans include a new ICD at Jhajjar to tap NCR hinterland demand, along with synergies via contract logistics warehousing near JNPT and bundled offerings combining CFS and warehousing for end-to-end solutions.

4. Market Position & Competitive Advantage:

ATL is a top pan-India CFS operator with ~90% utilization across 6 CFS and 1 ICD facilities near major ports managing 80%+ of India’s container traffic. It leads at JNPT and Mundra, ranks top 3 at Chennai and Kolkata, and benefits from a digital-first approach (NPS 65%) and asset-light model. Its strong port proximity, wide service mix including specialized cargo, and operational strength support sustained growth amid rising EXIM volumes.

5. Investor Implications:

Capacity ramp-up, multimodal investments, and digital upgrades offer positive growth potential aligned with India’s logistics evolution. EBITDA growth is robust, but short-term profit gains face tax/one-off headwinds, making execution of expansion plans and asset integration key monitoring points. Market leadership and diversified services provide a solid runway for volume scaling and margin improvement over the medium term.