MUMBAI: Allcargo Logistics Ltd. announced its audited financial results for the quarter and year ended March 31, 2015.

 

Strong gains across multiple segments, especially international cargo activity, helped India’s Allcargo Logistics deliver impressive earnings results.

 

In a filing to the Bombay Stock Exchange, the Mumbai-based logistics provider said fiscal 2014-15 consolidated net earnings jumped 61 percent year-over-year to Rs. 240 crore (about $38 million) from Rs. 149.3 crore ($23.4 million) in the previous year.

 

The group income from operations for the full year reached $892 million, up 16 percent from $767.4 million, according  to  a  release.

 

The yearly operating profit from Allcargo’s fast-growing multimodal transportation business, comprising less-than-container-load consolidation and full-container-load non-vessel-owning common carrier operations, swelled 21.5 percent from fiscal 2013-14 to $30 million. Operating revenue from the NVOCC segment climbed 15 percent to $749.5 million. Throughput volumes from the global cargo activity totaled 422,200  20-foot-equivalent units, up 26 percent from 334,870 TEUs.

 

The performance highlights are:

 

Consolidated Results – Q4 FY15

 

 • Total revenue (including other income) at Rs. 1,434.2 crore for the quarter ended March 31, 2015, as against Rs. 1,286.5 crore for the corresponding previous period, an increase of 11%. This growth has been driven by all the businesses of MTO, CFS and P&E. 82% of the revenue is from the global MTO business

 

•  EBIDTA (including other income) at Rs. 125.0 crore for the quarter ended March 31, 2015, as against Rs. 101.3 crore for the corresponding previous period, an increase of 23%

 

•  EBIDTA margin for the quarter at 8.7% as against 7.9%, increase of 84 basis points

 

•  PAT at Rs. 55.5 crore for the quarter ended March 31, 2015, as against Rs. 11.5 crore for the corresponding previous period

 

•  EPS for the quarter ended March 31, 2015 was Rs 4.4, for a face value of Rs. 2 per share

 

Consolidated Results – FY15

 

•   Total revenue (including other income) at Rs. 5,681.4 crore for the year ended March 31, 2015, as against Rs. 4,887.7 crore for the corresponding previous period, an increase of 16%, mainly on account of increase revenues across all businesses of MTO, CFS and Project and Engineering. 83% of the revenue is from the global MTO business

 

•    EBIDTA (including other income) at Rs. 528.0 crore for the year ended March 31, 2015, as against Rs. 427.8 crore for the corresponding previous period, an increase of 23%

 

•     EBIDTA margin for the year at 9.3% as against 8.8%, increase of 54 basis points

 

•     PAT at Rs. 239.9 crore for the year ended March 31, 2015, as against Rs.149.3 crore for the corresponding previous period, an increase of 61%

 

•      EPS for the year ended March 31, 2015 was Rs 19.0, for a face value of Rs. 2 per share, an increase of 61%

 

•      The Board of Directors have recommended, subject to the shareholders’ approval, a final dividend @ 70%.

 

Business Performance:

 

Allcargo operates primarily in three segments, viz., Multimodal Transport Operations, Container Freight Stations Operations and Project & Engineering Solutions. These are consolidated business segments.

 

Multimodal Transport Operations (MTO):

 

•  MTO segment involves NVOCC operations related to LCL consolidation and FCL forwarding activities in India and across the world through its wholly owned subsidiary ECU Line

 

•   Allcargo is amongst the leading players in the global LCL consolidation market with a strong network across 90 plus countries and 200 plus offices covering over 4,000 port pairs across the world

 

•   The business clocked total volumes of 4,22,200 TEUs for the year ended March 31, 2015 as against 3,34,870 TEUs for the corresponding previous period, an increase of 26%

 

•  The total revenue for the year ended March 31, 2015 was Rs 4,774 crore as against Rs 4,149 crore for the corresponding previous period, an increase of 15%

 

•  EBIT was Rs. 190 crore for the year ended March 31, 2015, as against Rs. 156 crore for the corresponding previous period, an increase of 22%

 

Container Freight Stations / Inland Container Depot Operations:

 

•  This segment operations are involved in import / export cargo stuffing, de-stuffing, customs clearance and other related ancillary services to both, importers and exporters

 

•  The CFS facilities are located near JNPT, Chennai and Mundra Ports

 

•   The total capacity of the CFSs and ICDs at the end of March 31, 2015 is 5,73,000 TEUs per annum

 

•   The business clocked total volumes of 2,12,472 TEUs for the year ended March 31, 2015 as against 1,86,598 TEUs for the corresponding previous period, an increase of 14%

 

•   The total revenue for the year ended March 31, 2015 was Rs 403 crore as against Rs 315 crore for the corresponding previous period, an increase of 28%

 

•  EBIT was Rs. 109 crore for the year ended March 31, 2015, as against Rs. 96 crore the corresponding previous period, an increase of 13%

 

Project & Engineering Solutions (P&E):

 

•  Project & Engineering Solutions segment provides integrated end-to-end project, engineering and logistic services through a diverse fleet of owned / rented special equipment like hydraulic axles, cranes, barges, reach-stackers and ships to carry ODC / OWC cargoes as well as project engineering solutions across various sectors

 

•  The total revenue for the year ended March 31, 2015, was Rs. 530 crore as against Rs. 423 crore for the corresponding previous period, an increase of 25%

 

•  EBIT was Rs. 75 crore for the year ended March 31, 2015, as against Rs. 14 crore for the corresponding previous period

 

Recent Awards and Recognitions – FY15

 

•  Mr. Shashi Kiran Shetty, Chairman of Ecu-Line and Allcargo Logistics has been conferred the Distinction of Commander of the Order of Leopold II by HM King Philippe of Belgium. The decoration is awarded  for his remarkable efforts in strengthening economic relations between India and Belgium, notably by creating a significant economic impact in the Antwerp Port by the activities of Ecu-Line and Allcargo Logistics

 

•   Awarded ‘Asia’s Most Promising Brand’ in the logistics space for 2013-14 by World Consulting & Research Corporation (WCRC), a leading brand consulting firm and KPMG India

 

•  Featured amongst ‘The Elite 100’ in a special 28th anniversary issue of ‘Dalal Street Investment Journal’, India’s oldest and leading investment magazine, June, 2014

 

•  Ranked at #209  - ‘Business World’ in the Top 500 companies across India list

 

•  ‘Business Leader of the Year’ – CHEMTECH’s Leadership & Excellence Awards 2014