Allcargo Logist. Q1 FY27 Results (NSE: ALLCARGO)
Signal: Loss reversed
The read
The operating trajectory improved: revenue reached ₹546 crore, +11.2% YoY and +6.2% QoQ, while the 15.6% EBITDA margin is above the recent Q1FY26 10% and Q4FY26 12% levels; however, the thesis is weakened by the consolidated PAT inconsistency, ₹14 crore of other income representing 73.7% of PBT, and continued accounting complexity from the demerger and merger scheme.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹546 Cr | +11.2% | +6.2% |
| EBIT | ₹34 Cr | N/A | |
| Net profit | ₹0 Cr | N/A | |
| EPS | ₹0.05 | N/A | |
| EBIT margin | 15.6% |
P&L walk
Revenue increased to ₹546 crore, +11.2% YoY and +6.2% QoQ, while EBITDA was ₹85 crore at a 15.6% margin; depreciation remained ₹51 crore and finance cost fell to ₹15 crore, but the XBRL-reported consolidated PAT of ₹0 does not reconcile cleanly with EPS of ₹0.05.
Segments
The group reports one segment, domestic logistics services, so the filing does not identify a separate business unit driving or dragging consolidated performance.
Key positives
- Revenue of ₹546 crore grew +11.2% YoY and +6.2% QoQ, reversing the Q3FY26 decline of 0.6% YoY.
- EBITDA was ₹85 crore at a 15.6% margin, above the 12% OPM recorded in Q4FY26 in the prior-results series.
- Finance cost declined to ₹15 crore from ₹17 crore YoY while revenue increased, improving operating conversion before exceptional items.
Key concerns
- Consolidated PAT is reported as ₹0 in the authoritative XBRL data while the filed consolidated statement shows ₹14 crore; consolidated EPS is ₹0.05, creating a material reconciliation issue.
- Other income of ₹14 crore represented 73.7% of consolidated PBT of ₹19 crore, making the bottom line less representative of recurring operations.
- The filing states that the scheme accounting treatment overrides applicable Ind AS requirements and that June 2025 comparatives were restated for the demerger and merger.
Earnings quality: includes non-operating other income
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