ALLCARGO GLOBAL LOGISTICS Invest Now

A leading logistics service provider, the company has posted a very good performance for the second quarter ended 30th June 2008. On a consolidated basis, net income was at Rs.544.3 crore, up 35.2% on a YoY basis. EBITDA has grown from Rs.26.40 crore of the same quarter last year to Rs.56.86 crore in this quarter, registering a growth of a whopping 115.6%. for the quarter. Net profit was at Rs.34.14 crore, up by a healthy 66.6%. The consolidated results includes financial results of the direct / indirect subsidiaries, viz: Allcargo Belgium N.V., Hindustan Cargo Ltd and Contech Transport Services Pvt. Ltd. The company has divided its business into three units – MTO, CFS and ICD. Multimodal Transport Operation (MTO) segment registered significant growth of 48.5% and this was mainly on account of the Project division which has contributed Rs.23.15 crore to the revenue. MTO volume has increased by 5.9% to 7990 TEUs. The company’s order book for the project cargo business currently stands at Rs.100 crore, to be completed in 18 months. The Container Freight Station (CFS)& Inland Container Depots (ICD) revenue has increased by 50.77%. The three CFS operating at Nhava Sheva, Mundra and Chennai showed an aggregate rise of 44.58 % in volume at 47919 TEUs as compared to 33142 TEUs in Q2CY07. The company’s ICD at Pithampur near Indore is slated for commissioning in August’08, with a 3000 TEUs capacity. The next project to be commissioned will be of the JV with Concor at Dadri, scheduled for first half of 2009, with a capacity of about 5000 TEUs per month. It has planned ICDs at Hyderabad and Nagpur, with each having a capacity of about 3000 TEUs per month. The performance of the company also includes that of Project and equipment division of Transindia Freight Services Pvt Ltd which has got merged with company pursuant scheme of arrangement. The share swap ratio was 5.19 shares of Allcargo for one share of Trans India and the total amount of shares issued were 20.12 lakh shares. This takeover now brings to the fold of Allcargo; a fleet of 333 trailers, 51 forklifts, 51 cranes and 18 Reach stackers. Currently quoted at Rs.837 levels, stay invested and buy if it dips below Rs.650. source