CONSOLIDATED REVENUE FROM OPERATIONS FOR THE YEAR AT Rs 4,851 CRORE – YOY INCREASE OF 24%
84% OF REVENUE FROM GLOBAL MTO BUSINESS
CONSOLIDATED EBIT AT Rs 287 CRORE – YOY INCREASE OF 17%,
NETWORTH OF Rs 1,793 CRORE – YOY INCREASE OF 13%
BOARD RECOMMENDS DIVIDEND AT 75% i.e. RS 1.50 PER SHARE
May 26, 2014, Mumbai: Allcargo Logistics Ltd. today announced its audited financial results for the quarter and financial year ended March 31, 2014.
The Board of Directors have recommended, subject to the shareholders’ approval, payment of dividend at 75% i.e. Rs 1.50 per equity share of Rs. 2 each for the financial year ended March 31, 2014.
The performance highlights are:
Consolidated Results – Q4 FY14
- Total revenue from operations at Rs. 1,282.6 crore for the quarter ended March 31, 2014, as against Rs. 964.7 crore for the corresponding previous period, an increase of 33%, mainly on account of increase in volumes and revenues in the MTO business that include the two acquisitions. 85% of the revenue is from the global MTO business
- EBIDTA at Rs. 97.5 crore for the quarter ended March 31, 2014, as against Rs. 60.9 crore for the corresponding previous period, an increase of 60%
- EBIT at Rs. 59.5 crore for the quarter ended March 31, 2014, as against Rs. 45.3 crore for the corresponding previous period, before amortization of goodwill in the quarter, an increase of 31%
- EPS for the quarter ended March 31, 2014 was Rs 0.9, for a face value of Rs. 2 per share
Consolidated Results – FY14
- Total revenue from operations at Rs. 4,851.2 crore for the year ended March 31, 2014, as against Rs. 3,926.3 crore for the corresponding previous period, an increase of 24%, mainly on account of increase in volumes and revenues in the MTO business that include the two acquisitions during the year. 84% of the revenue is from the global MTO business
- EBIDTA at Rs. 391.3 crore for the year ended March 31, 2014, as against Rs. 356.2 crore for the corresponding previous period, an increase of 10%
- EBIT of Rs. 286.5 crore for the year ended March 31, 2014, as against Rs. 244.0 crore for the corresponding previous period, before amortization of goodwill in FY14 and after eliminating exceptional income of previous year, an increase of 17%
- EPS for the year ended March 31, 2014 was Rs 11.8, for a face value of Rs. 2 per share
Resources and Liquidity
As on March 31, 2014, the consolidated networth stood at Rs. 1,793.1 crore and the consolidated debt was at Rs. 992.1 crore.
The cash and cash equivalents at the end of March 31, 2014 were Rs. 299.4 crore.
The net debt to equity ratio of the Company stood at 0.39 as on March 31, 2014.
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 (Non Vessel Owning Common Carrier) operations related to LCL (Less than container load) consolidation and FCL (Full container load) 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 3,28,711 TEUs for the year ended March 31, 2014 as against 2,84,726 TEUs for the corresponding previous period, an increase of 15%
- The total revenue for the year ended March 31, 2014 was Rs 4,149 crore as against Rs 3,192 crore for the corresponding previous period, an increase of 30%. This revenue includes the two acquisitions of Econocaribe and FCL Marine
- EBIT was Rs. 181 crore for the year ended March 31, 2014, as against Rs. 145 crore for the corresponding previous period, an increase of 25%
Container Freight Stations (CFS)/ Inland Container Depot (ICD) 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, Mundra, and Chennai ports
- The total capacity of the CFSs and ICDs at the end of March 31, 2014 is 5,73,000 TEUs per annum
- The business clocked total volumes of 1,86,598 TEUs for the year ended March 31, 2014 as against 2,21,936 TEUs for the corresponding previous period
- The total revenue for the year ended March 31, 2014 was Rs 315 crore as against Rs 310 crore for the corresponding previous period, an increase of 2%
- EBIT was Rs. 84 crore for the year ended March 31, 2014, as against Rs. 96 crore the corresponding previous period
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 cargos as well as project engineering solutions across various sectors
- The total revenue for the year ended March 31, 2014, was Rs. 423 crore as against Rs. 454 crore for the corresponding previous period
- EBIT was Rs. 43 crore for the year ended March 31, 2014, as against Rs. 63 crore for the corresponding previous period, before amortization of goodwill in FY14
New developments/ achievements in businesses during the year:
- In the MTO business:
o LCL Consolidator of the Year – EXIM’s North India Multimodal Logistics Awards, 2014
o Awarded ‘LCL Consolidator of the Year’ by Cargo Scope 2013
o Awarded ‘LCL Consolidator of the Year’ for its outstanding performance in the LCL space at the ‘Cargo & Logistics Awards 2014’ hosted at the ‘Gujarat Junction 2014-Conference on Ports, Shipping & Logistics’
o Ecu Line, wholly owned subsidiary of Allcargo Logistics Limited made two very successful acquisitions
§ 100% interest in Econocaribe Consolidators – one of the largest LCL consolidators, to strengthen and increase presence in the US market
§ A majority stake in FCL Marine – a leading neutral NVO player in the FCL segment operating in Europe, US and Canada, taking a step forward to consolidate ECU Line’s global leadership
- In the CFS business:
o Awarded ‘Best CFS Operations’ by – Indian Chamber of Commerce’s ICC Supply Chain and Logistics Excellence Awards, 2014
o Trans India Logistics Park recognized as ‘Container Freight Station Operator of the Year’, at the MALA awards
- In the P&E business:
o Won the MALA Award for in the ‘Heavy Lift Mover of the Year 2013’ category
About Allcargo Logistics Limited
Allcargo Logistics Ltd., part of The Avvashya Group, is a leading multinational company providing integrated logistics solutions. The company offers specialized logistics services across Multimodal Transport Operations, Container Freight Station Operations and Project & Engineering Solutions. Benchmarked quality standards, standardized processes and operation excellence across all the services and facilities, have enabled Allcargo Logistics Ltd. to emerge as the market leader in all these segments.
The company currently operates out of 200 plus offices in 90 plus countries and gets supported by an even larger network of franchisee offices across the world. Allcargo is today one of India’s largest publicly owned logistics companies, listed on the Bombay Stock Exchange (BSE: ALLCARGO) and The National Stock Exchange of India (NSE: ALLCARGO).