Allcargo Global Q1 FY27 Results (NSE: AGL)
Signal: Loss narrowed
The read
The operating trajectory improved only modestly: consolidated revenue reached ₹3522 crore, up 5.8% YoY, and attributable loss narrowed 26.1% to ₹34 crore, but subsidiary losses of ₹35 crore more than offset the standalone parent's ₹2 crore pre-tax profit and ₹4 crore associate/JV contribution.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,522 Cr | +5.8% | +20.8% |
| EBIT | ₹-9 Cr | N/A | |
| Net profit | ₹-34 Cr | +26.1% loss narrowing | |
| EPS | ₹-0.35 | +62.0% loss narrowing | |
| EBIT margin | 1.2% |
P&L walk
Consolidated revenue rose to ₹3522 crore, up 5.8% YoY and 20.8% QoQ, but ₹35 crore of subsidiary losses drove attributable PAT to a ₹34 crore loss despite ₹4 crore of associate and joint-venture profit.
Segments
The consolidated result is materially dragged by subsidiaries: subsidiaries contributed ₹3220 crore of revenue and ₹35 crore of net loss, while the standalone parent generated ₹2 crore of pre-tax profit and associates/JVs added ₹4 crore of profit.
Key positives
- Consolidated revenue was ₹3522 crore, up 5.8% YoY and 20.8% QoQ, showing a sequential recovery in reported activity.
- Attributable loss narrowed to ₹34 crore from ₹46 crore YoY and QoQ, while EPS loss improved to ₹0.35 from ₹0.92 YoY.
- Finance costs were ₹19 crore, flat QoQ and up only 5.6% YoY versus 20.8% QoQ revenue growth.
- Associates and joint ventures contributed ₹4 crore of profit versus a ₹1 crore loss in the year-ago quarter.
Key concerns
- Subsidiaries generated ₹35 crore of net loss on ₹3220 crore of revenue, leaving the consolidated group loss-making despite parent-level pre-tax profit of ₹2 crore.
- Consolidated EBITDA was only ₹42 crore, equivalent to a 1.2% margin, leaving limited buffer against freight-market or cost volatility.
- Standalone revenue grew only 1.6% YoY to ₹521 crore, materially slower than consolidated revenue growth of 5.8%.
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