Allcargo Logistics (ALL) is a play on global trade (87% of rev.) and a leader in Less-than-Container-Load (LCL). FY23E-24E should see some normalization of gains made in FY21-22. Trading at 7 yr avg of 13x, should see re-rating on the back of PTL turnaround and demerger which would help it tide through the next 12 months till trade and EPS growth return. 14% FY24E-26E EPS CAGR, 18% ROE, and demerger should drive 24% upside. Initiate coverage with Buy.
Read the complete press release at the below link:
