Q3 2024 Allcargo Gati Ltd Earnings Call Transcript
Key Points
- Allcargo Gati Ltd (BOM:532345) reported an 11% year-on-year volume growth for Q3 FY24.
- The company has consistently clocked a monthly volume of approximately 100,000 tonnes.
- Six out of eight planned hubs under phase one of infrastructure amplification are now operational, improving service levels and client confidence.
- The rollout of dimensional weighing and scanning machines across 12 locations has improved billing transparency and revenue collection.
- The company has initiated a project for price increases with customers, targeting a 6% inflationary price hike to be effective from April 1, 2024.
- Revenue from express business decreased to INR371 crore in Q3 FY24 from INR379 crore in Q3 FY23.
- Gross margin for the express business dropped to 21.7% in Q3 FY24 from 27.8% in Q3 FY23.
- EBITDA for the express business fell to INR7 crore in Q3 FY24 from INR21 crore in Q3 FY23.
- The company experienced a drop in business from high-yield customers due to stricter payment terms and customer code blocking for long overdue customers.
- The geopolitical tensions and global economic uncertainties have impacted trade and commerce, affecting overall business sentiment.
Ladies and gentlemen, good day, and welcome to the Q3 and nine-month FY24 earnings conference call of Allcargo Gati Limited, hosted by Nuvama Wealth and Investment Limited.
This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements do not guarantee the future performance of the company. And it may involve risks and uncertainties that are difficult to predict.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Rishith Shah. Thank you, and over to you, sir.
Yeah. Thank you. Good afternoon, everyone. On behalf of Nuvama Wealth and Investment Limited, I welcome you, all, to the earnings conference call of Allcargo Gati Limited. We are pleased to have with us the management team represented by Mr. Pirojshaw Sarkari, who is the MD and CEO of GESCPL; Mr. Anish Mathew, the CFO; and Mr. Sanjay Punjabi,
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