Allcargo Global Ltd(AGL)

NSE: AGLBSE: 544602

₹ 10.92+5.30%refreshed 27 Oct, 12:11 pm ISTMarket cap: ₹ 1,073 crWebsite: www.allcargo.globalUpdated: 27 Oct 2026

About

Allcargo Global Limited is an international supply chain solutions provider focused on LCL consolidation, FCL forwarding, and air freight, operated through its wholly owned subsidiary ECU Belgium N.V. under the ECU Worldwide brand. The company runs an asset-light model across 200+ owned offices in 60+ countries with approximately 2,400 direct trade lanes. It holds ~14.5% share of global LCL consolidation, making it the global market leader in that segment, and features among the top 20 logistics companies originating from India.^[1][2]

Services portfolio

Allcargo Global offers LCL consolidation, FCL forwarding, air freight, door-to-door logistics, cross-border e-commerce, express freight, and renewables and special projects logistics.^[1]
Door-to-door logistics services are available across more than 50 markets, managing shipments from shipper's doorstep to final consignee.^[1]
ECU Worldwide is the group's flagship logistics brand; ECU360 is the proprietary integrated digital logistics platform for quotations, bookings, shipment tracking, and operational visibility.^[1]
The company operates an asset-light model with no ownership of vessels, containers, or warehouses, enabling capital-efficient and flexible logistics execution.^[1]

Network and operations

The international logistics business operates through ECU Belgium N.V. across 200+ owned offices in 60+ countries with approximately 2,400 direct trade lanes as of FY26.^[1]
As of March 31, 2026, the company employed approximately 4,500 professionals across its global operations.^[1]

Key operating volumes

In FY26, the company handled approximately 8.5 million CBM of LCL volumes, 642,576 TEUs of FCL volumes, and 33,016 tonnes of air freight volumes.^[1]
In Q1 FY27, LCL volume was 2,065 '000 CBM (-3.7% YoY); FCL volume was 1,470 '00 TEUs (-13.4% YoY); air volume was 7,315 tonnes (-11.3% YoY).^[2]
In Q1 FY27, LCL and air volumes grew ~5% QoQ while FCL grew ~1% QoQ, driven by improving conditions on transatlantic, transpacific, and intra-Asian trade lanes.^[2]
FCL year-on-year volume fell ~13% in Q1 FY27 partly because FCL has higher contribution from the Middle East/Africa region, which is impacted by the ongoing conflict.^[2]

Yield and gross profit

Gross profit in Q1 FY27 was INR 733 cr (+2.5% YoY) with a gross margin of 20.8%, despite volume declines across all three products.^[2]
EBITDA in Q1 FY27 was INR 33 cr, compared to a loss of INR 31 cr in Q1 FY26 and INR 17 cr in Q4 FY26, reflecting yield management and procurement efficiencies.^[2]
AGL holds ~14.5% share in global LCL consolidation as of Q1 FY27; LCL is described as the highest-margin product in ocean freight with very high entry barriers.^[2]

Air freight geography

Air freight volume in FY26 was most concentrated in Middle East and Africa at 54%, followed by ISC & Southeast Asia at 14%, North Asia at 11%, North America at 11%, Latin America at 6%, and Europe at 4%.^[1]

Digital platform and technology

AGL's in-house digital platform accounted for 70% of export bookings as of Q1 FY27, underpinned by a proprietary operating system, data science, and AI teams.^[2]
AQUA Email-to-Quote AI solution is live across 4 countries and drove a near 40% increase in quotation processing efficiency in FY26.^[1]
AI-driven customer retention platform SARA is deployed across more than 20 countries as of FY26.^[1]
iTopaz, the modernization of ECU's core operating platform, is migrating from a monolithic architecture to a secure, API-enabled microservices platform.^[1]
Microsoft Dynamics 365 ERP was implemented for global finance transformation and a cloud-based HCM platform was deployed across 45 countries during FY26.^[1]

Capital structure and ratings

Standalone higher-cost borrowings were reduced to INR 272 cr as of June 30, 2026, from INR 314 cr as of March 31, 2026.^[2]
Consolidated gross debt was INR 942 cr and net debt was INR 570 cr as of Q1 FY27.^[2]
CRISIL revised AGL's long-term rating to A-/Stable and short-term rating to A2+/Stable on September 24, 2026.^[3]
Total bank loan facilities rated by CRISIL stand at Rs 508 crore as of FY26.^[1]

Corporate history and plans

Allcargo Global Limited was established through a strategic demerger of Allcargo Group's international logistics businesses; NCLT sanctioned the Composite Scheme of Arrangement on October 10, 2025, effective November 1, 2025.^[1]
Management intends to keep employee and admin expenses flat in USD terms through AI, automation, and offshoring to lower-cost geographies through FY28.^[2]
Non-core real estate assets (warehousing and office assets) are planned for divestment at a combined ballpark of USD 10 - 15 million to reduce consolidated net debt over the next 2 - 3 quarters.^[2]
Monthly operational updates including directional yield indices for LCL and FCL are to be released starting August 2026.^[2]

Market Cap

₹1,073 Cr

High / Low

₹22 / 10

Promoter holding

63.3%

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