Allcargo Terminals Ltd (NSE: ATL) Q1 2026 Earnings Call dated Aug. 12, 2025
Corporate Participants:
Unidentified Speaker
Suresh Kumar — Managing Director
Pritam Varta — Chief Financial Officer
Analysts:
Unidentified Participant
Suyash Samant — Analyst
Vikram Suryavanshi — Analyst
Vedant — Analyst
Samraat Jadhav — Analyst
Akshay Kothari — Analyst
Madhur Rathi — Analyst
Presentation:
operator
SA. Foreign. Ladies and gentlemen, please stay connected. The call will begin shortly. Ladies and gentlemen, you’re connected to the el Cargo Terminals Limited Q1 FY26 earnings conference call. Please stay connected. The call will begin shortly. Sam. Ladies and gentlemen, good day and welcome to the el Cargo Terminals Limited Q1 FY26 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your Touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Suyash Samantha from Stellar IR Advisors. Thank you. And over to you sir.
Suyash Samant — Analyst
Thank you. Good morning everyone and thank you for joining us today. We have with us today the senior management team of All Cargo Chief Financial Officer.
operator
Sorry to interrupt. Can you please repeat again? Your voice breaked.
Suyash Samant — Analyst
Oh, sorry, I’ll just start again. Good morning everyone and thank you for joining us today. We have with us today the senior management team of all Cargo Terminals Ltd. Mr. Suresh Kumar, Managing Director, Mr. Pritam Varta, Chief Financial Officer and Mr. Sanjay Panjavi, Industrial Relations who will represent All Cargo Dominance Limited. On the call, the management will be sharing the key operating and financial highlight for the quarter ended June 30, 2025 followed by a question and answer session. Please note this call may contain some of the forward looking statements which are completely based upon the company’s beliefs, opinions and expectations as of today.
These statements are not a guarantee of the company’s future performance and involve unforeseen risk and uncertainties. The company also undertakes no obligation to to update any forward looking statement to reflect developments that occur after a statement is made. I now hand over the conference to Mr. Suresh Kumar. Thank you. And over to you sir.
Suresh Kumar — Managing Director
Thank you. Suyesh. Good morning everyone. A warm welcome to all of you on the alcohol terminal. Submitted Q1FY26 call. Thank you for joining us. We have uploaded the results press release last evening and the presentation on the stock exchanges and the company’s website. I hope you had an opportunity to go through the same. I will over the next few minutes give you an overview of the economy, the industry, the ATL business. After which I will hand over the call to Pritam to discuss the financial performance for the first quarter of the financial year. To begin with, the global economic outlook remains challenging.
The IMF report projects global GDP growth at around 3% in 2025. However, it continues to face headwinds from trade tensions, geopolitical uncertainties. Amidst all this, India remains the fastest growing major economy. Growth is expected to Moderate slightly to 6.4% in FY26. The outlook remains strong supported by resilient domestic demand, services growth and government led investments. On the trade front, July saw the signing of the UK India Free Trade Agreement expected to boost bilateral trade by £25.5 billion annually by 2040. This reduces tariffs on 90% of British goods and grants duty free access to almost 99% of Indian exports.
Meanwhile, the EU and US announced a provisional trade framework aimed at de escalating tariff tensions coming to all cargo terminals. I would like to mention that we have a proposal to raise 38 crores through fully convertible warrants to fund our growth plans. These growth plans are something that I’ve outlined in previous investor calls is with a three year horizon and I’m happy to share with you that we have begun FY26 on a very strong footing. Momentum for our three year strategic plan is building with the planned capacity additions in key markets like Navajeva and Mundra in line with our long term vision to handle a million laden TUs this year our key focus is on driving volume growth while sustaining profitability.
Our EBITDA per TU continues to improve. This is very encouraging and this reinforces our confidence in maintaining industry leading profitability. With the trust of our customers reflected in strong retention rates, a digital first approach and a capable and experienced team, we are well positioned to deliver on our stated objectives and realize our three year plan. I am handing you over now to Pritam Vartak to take you through the financial details. Thank you.
Pritam Varta — Chief Financial Officer
Good morning everyone and thank you Suresh. Welcome to our Q1FY26 earning call. I will take you through highlights of financial results for the first quarter of the new financial year. The total volume handled for Q1FY26 stood at 1.51,100 TUs. Revenue for the quarter stood at Rupees 187 crores as compared to 190 crores for Q1FY25 and INR 186 crores for Q4FY25. EBITDA excluding other income for Q1FY26 stood at Rs. 35 crore as compared to Rs. 30 crores for Q1FY25 & Rs. 34 crores for Q4FY25. For Q1FY26 the company reported an EBITDA per TU of Rupees 22, 92 depicting a growth of 22% as compared to Q1FY25 & 4% as compared to Q4FY25.
Net profit for Q1FY26 stood atRs. 9 crore as compared to Rs. 10 crore for Q1FY25 and a loss of Rupees 2 crore in Q4FY25 is the summary for financial results for Q1FY26. With this I would like to open the floor for questions and answer session. Thank you.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Vikram Suryavanshi from Philip Capital. Please go ahead.
Vikram Suryavanshi
Yeah. Hi sir.
operator
Your voice is breaking a lot.
Vikram Suryavanshi
Is it okay now?
operator
Yes, sir. Now it’s okay. Please go ahead.
Vikram Suryavanshi
Okay. Thank you. Sir.
operator
Your voice is still not clear.
Vikram Suryavanshi
I’ll come back in a queue. Give me a few minutes.
operator
Okay, sir. Thank you. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The next question is from the line of Vedant from Khushi Capital Advisory. Please go ahead.
Vedant
Hello. Good morning. Am I audible?
operator
Yes, sir, you’re audible. Please go ahead.
Vedant
Yes. Thank you for this opportunity. So my first question is on the line of. As you have mentioned in the presentation we are Talking about handling around 1 million team use in the long term. So what is the strategy to achieve this target and where are we planning to add capacities?
Suresh Kumar
Okay, so would you want to ask all your questions or would you like me to respond to one of them? One after them, one after the other. Okay. So thank you Vedant for your interest in the sector and in Al Cargo terminals. Our three year plan which we have been talking about in the last couple of investor calls aims at getting us to a million Laden TUS in the next three years. Just to give you a background. Currently we handle about 6 and a half lakh laden TUs every year. With a capacity of around 8.3 million TUs across the seven facilities that we are present.
Obviously to handle a million TUS we need to build capacity. We have embarked on expanding capacity since the last quarter of last year. Adding capacity in Mundra. By renewing our partnership with CWC we have expanded our facility in JNPA. Our flagship facility in JNPA. By adding 25 acres we have bought land in Mundra outside the SEZ. 60 acres of land where we propose to construct a new CSS in phases. And there are other plants at Farooq Nagar for a greenfield icd. And we are also exploring opportunities to increase our capacity in Chennai. All these capacity enhancement initiatives will increase our capacity from the current 8.3 lakh TUs to over 1.25 1.3 million TU’s.
So that’s about 13 lakh TUs. You would have noticed in our presentation that we currently operate at around 85 to 90% capacity. So with a capacity of 1.3 million that we will build up over the next three years and the capacity utilization of about 85 to 90% we expect to cross a million TUs. That is the internal story for this. Obviously the addressable market also needs to grow and we need to ensure that our market share in the growing addressable market continues to remain strong. We currently estimate a market share of about 12 to 12.5% in the CSS markets that we operate in the five locations that we are in.
We expect to grow this market share in the coming years by 1 to 1.5%. Plus we all know that the Indian economy grows at about 6 to 6.5%. That’s the most conservative estimate of the Indian economy which will add to the addressable market. So it is a combination of capacity building, ensuring that we have the right kind of capacity in the locations which are growing, continue to build on our customer franchise and equity. Enhance capacity utilization to the levels which I mentioned. These are the core things that we will do to ensure that we become an organization which handles a million laden TUS in the next three years.
I hope I have been able to cover all the aspects in your mind Vedant.
Vedant
Yes, so that was a very detailed answer and cleared a lot of things. But as a follow up question as we are talking about adding capacity are we planning any fundraises? Because I have recently seen there was a fund is of around 38 crores. Yes. Will there be any fresh fundraising and was the recent fund is as well for the capacity expansion?
Suresh Kumar
Yeah, the recent fundraise that we have done of 38 crores in effect kickstarts our plans for expansion. We have a clear funding plan for the next three years for the various projects that I have indicated. We have already invested about 110 crores for the horsel rail connectivity in Farup Nagar and there is a certain CapEx requirement that we have estimated for the next three years. I will request Pritam to take you through what have we estimated as our CAPEX requirements and how do we propose to fund it.
Pritam Varta
Suresh. So for a like very near future, foreseeable future we have two projects which are coming up. One is Mundra cfs other is Faruknagar ICD Mundra cfs We are proposing to execute in two phases. Phase one should start in next quarter or so which will give us additional 1 lakh to use capacity. So the phase 1 estimated cost is around 75 crores for Farooq Nagar project. The estimated CAPEX investment is in the range of 115 crore. We are overall estimating 200280 crores of capex outlay between these two projects. Because these projects are spread over like one year or 18 months of period a lot of this CAPEX requirement would be ever would be taken care from our internal cash flow generation.
Our existing CFSs continue to generate strong cash flow with a good DSO of 18 to 20 days. So that way these businesses would continue to generate cash outflow and fund this capex expansion. Also we have equity infusion plans in place. 38 crore of equity infusion is already on the course subject to regulatory approvals. Right. And there are other plans as well which we will disclose at appropriate time. With internal cash flow and equity influence plan the dependency on borrowing would be limited and it would be only required to the extent of kind of bridge capital which we are estimating in the range of 50 to 70 crores.
So that way additional borrowings would be very limited while funding this CAPEX project. I hope Vedant, I am able to answer your question.
Vedant
Yes sir, thank you. That was very detailed as well. So a follow up question on as we are talking about expanding our capacities and so. But in terms of the industry and the demand, is the demand sufficient for our industry? And even if it’s sufficient how do we compare with our peers and like what are our key strengths that would differentiate us and keep us above them?
Suresh Kumar
Again thank you. Thank you Vedant for that question. With regard to industry, the the container industry, the EXIM trademark is very very closely linked to the GDP numbers of the country and at 6.6.5% predicted by almost every analyst I think India is on a very strong growth path and we expect the same to happen to the container industry. It could only be better. The addressable market will also grow at a similar pace and with all the new investments which are happening in terms of infrastructure and the all the initiatives of the government to boost make in India exports from India, the Sagar Mala project, the Gati Shakti program, all these are intended to facilitate greater extreme trade in the country.
And therefore there is every reason to believe that the GDP growth will reflect significantly in terms of the containerized movement of cargo, not to mention DFCC and those kind of initiatives which are also reaching completion. So there will be enough demand in the market. What is it that differentiates AL Cargo terminals from the others? Al Cargo Terminals? We have our facilities currently in five locations which contribute to about 80% of India’s ex IM trade. Which are these five locations? Navisheva, Mundra, Chennai and Calcutta. We also have an ICD at the capacity expansion I briefly mentioned to you.
What is it that we are planning to do? And our capacity expansion is largely in these markets that I have mentioned. And these markets will continue to be the gateway for India’s EXIM trade. So that is the second part of the question. The third thing that you asked is how do we differentiate ourselves? The first differentiation that we have is as an organized listed entity and also as a Pan India operator. I think we offer scope of services which extend or which extend beyond one or two facilities. And in a very fragmented CFS industry we have a Pan India presence and the market share reference I shared with you earlier.
So one of the key advantages that we have is our Pan India presence. Second is the customer relations and the equity and the franchise that we hold with our customers. Being a business that has been around for over 20 years, we have built a solid reputation for operational capabilities, reliability and now we are topping it up with digital enablement. The digital enablement is in the form of a MY CFS portal which is the first of its kind in the industry. This enables customers to log on to the MY CFS portal or the app on their mobile phones, see what is happening to their cargo on a real time and do the basic stuff that they need to do for cargo clearance through the mobile phone or through the portal.
We expect this customer convenience to only improve when our systems get further integrated with the regulatory systems of the customs and others. So that’s the second differentiation. The third differentiation that we have is because of our national Tax India presence we are able to leverage scale efficiencies across the country, be it in transport contracts or in equipment contracts. These are the two things which contribute a large tour opex and therefore we are able to kind of manage industry leading profitability by keeping a very sharp eye on the OPEX cost that we have. So this is what makes us very strong independently as atmosphere.
The final point that I would like to add to this is we are part of the Alcogo Group and therefore we benefit from the larger group’s presence in multiple portions of the logistics chain. You would know that AL Cargo Group is present as an integrated logistics provider covering ocean freight, container terminals, port side logistics, express business contract logistics, warehousing. So as part of an integrated solutions to customers, we therefore benefit from a certain steady stream of business which comes to the Alcargo Group. This is what differentiates us from the rest of the CFSICD operators. Mr.
Vedant
Thank you. That was very detailed. That surely cleared my mind about the long term future. But just to add another question on the short term future like are we facing any challenges with the current imposition of tariffs from us? Are we facing any difficulties because of that in our business?
Suresh Kumar
So thank you. Thank you again, Vedant for the question. So with regard to the tariffs which is being talked about a whole lot, I think one needs to look at it from the point of view of what do these tariffs do to the addressable markets of the container freight stations and the ICT business. So if you had to look at the addressable market or the cargo which moves in into the container freight stations and the ICDs that we operate a whole lot of this cargo, in fact a significant majority of this cargo originate the imports originate from geographies which are not us.
So these originate from China, this originate from the African subcontinent, these originate from a little originate from the Far East. So this is where the bulk of our cargo, the import cargo originates. The second thing to look at is what is the kind of cargo which comes in into imports and to compare that with what is it that the tariffs, the US Tariffs in particular is likely to impact. So if you look at the US Tariffs, there is a widespread understanding that this is largely will impact sectors like pharma, sectors like precious gems, metals, those kind of things which are not really part of the CFS addressable market because a lot of them lend themselves to air cargo and things like that.
So both from a geography point of view and from a commodities point of view, I don’t think there is a significant impact of the tariffs that you are referring to from the US which we foresee on our operations. But as in everything, uncertainty is not good for business sentiment to that extent. I think whatever uncertainty which hits because of this tariff stop start kind of a thing which is there might have an overall impact on the economy and things like that and on the sentiment, some of that might trickle down. And I think this is true for every player in the industry.
But I would like to kind of with optimism say that this doesn’t impact the CFS ICD addressable market as much as it might impact some other portions of the economy. So we don’t see a significant impact of these tariffs on our business.
Vedant
Sure. Thank you so much. That was the last question from my side. All the best for your future time.
Suresh Kumar
Thank you. Thank you very much.
Vedant
Thank you.
operator
Thank you. Our next question is from the line of Samrat Jadhav from Prosperity Wealth Advisor. Please go ahead.
Samraat Jadhav
Hi, good morning. Hope I’m audible.
Suresh Kumar
You’re audible. Please go ahead.
Samraat Jadhav
Great. Okay, So I have four questions. One is on the CFS volumes. Basically our CFS volumes grew 5% year on year with 90% utilization. Around 90% utilization. What is the expected volume growth trajectory for the rest year for the financial 26 especially with the new capacity coming online. The second question is on what market shares gains we have made in the key ports of JNPT and mudra in the Q1 and what do you expect which would be the biggest upside between these both? Third is on the EXIM trade. Basically your presentation said that it’s around 6% growth that is expected.
Are we planning near around same growth or it would be bigger than that like 7, 8, 9% whatever number basically. And the fourth one is on the EBITDA and pat guidance from the management considering the finance cost and ongoing capex.
Suresh Kumar
Okay, thank you. Thank you. Samrat, four questions out of which I will attempt to answer the first three around volumes, market share and accent trade. I will request Pritam to chip in on the 4th which is on the EBITDA and the bad trend. So on volumes you have rightly picked up the numbers 5% and with the capacity expansion that we have done in JNPA that we have added 25 acres to our existing flagship facility and then Mundra the renewal has expanded our capacity because that is an additional 10 acres which we have. So both this will really start to kick in in H2 of this year because there is a certain amount of preparation that one needs to do.
So we expect H2 the growth to be better than the 5% that we are currently running at and maybe a couple of percentage points minimum is what one can add. Only then we will continue to leverage the additional capacity and keep our capacity utilization closer to the 85 to 90%. So we expect an accelerated growth in volumes in the second half. The other thing that you asked about was upon about Market shares in Q1. Market shares in Q1 are estimate and these are based upon our understanding of the market. We have pretty much held on to market share and in most of the markets that we operate in, which would be in the range of around 12%.
That’s what our estimate of our market share is in the CFS business. Yeah, the NPT and Mundra. Mundra. I’ve been talking in investor calls about a certain portion of the business, the addressable market having been taken up by the port because the port has created which is the Adani Ports, they have created an XM yard which takes up a portion of the addressable market of the CFSs. And therefore that kind of has kept the market overall market size rather constant there in Mundra even though there is an increase. But we also see some overflow from the xmeach finally coming back to the CSS and therefore we believe there should be the kind of growth that we have seen in the past quarters to continue in Mundra.
The third question of your question was about EXIM trade. 6% growth. I think there is every reason to believe that we will continue to remain on that trajectory. We spoke about that when Vedant asked the question about tariffs and things like that.
Samraat Jadhav
So we are expecting the same 6% or more than 6%.
Suresh Kumar
I think it should be in the range of 6%. There will be seasonal variances, variations that you would see typically in Q2, Q3, then the Q4 variations with regard to the Chinese New Year and all those things. As an experienced observer of the industry, I’m sure you’re noticing this seasonal fluctuations, but largely in the range of 6, 6 and a half percent.
Samraat Jadhav
Around 6%. Okay, great. On the first question, that of the CFS volume, 5%. So we are expecting more, more than 5%. But it would be the same as you said. H2 would be better.
Suresh Kumar
H2 would be better because we are running at capacity at close to 90% which also means that some of our facilities are running to full capacity. And when we get this additional capacity in jnpt, we will be able to garner additional volumes. So to that extent that capacity boost will reflect in terms of larger growth. In H2
Samraat Jadhav
any ballpark number.
Suresh Kumar
We are in the early stages. So if you were to look at it, we have just got the approval, the necessary approvals in the month of July and we would wait to see how August and September goes before we kind of take a view on the balance portion of the year.
Samraat Jadhav
Okay, okay. Yeah, yeah.
Suresh Kumar
And just to kind of add I didn’t have the context earlier I should have shared this and this would be of interest to all of you about the three year plan that we are working on. There are significant milestones that we have crossed in the three year plan. So if you have been observing our three year plan and the conversation around it, we have talked about capacity expansion in Mudra through two methods. One is the renewal of the CWC concession that we have which we have renewed successfully in December. Second is addition of a new CFS with our own land outside the scc.
I’m happy to share with you that the last month, this is after Q1 we have received the necessary regulatory permission to set up the CFS in Mundra. The third thing that we’ve been talking about is the Farooq Nagar Greenfield icd. Again I’m happy to share with you that we have received regulatory permissions which is the IMC in principle approval to set up an ICD in Faruknagar. So whatever we have shared with you over the last few quarters on the three year plan we are proceeding and progressing in the right manner with the necessary approvals and the necessary addition of capacity happening.
So this for us is a strong indication of what one could expect from us because the plan is proceeding just like how we have outlined and in the plan we have also said there could be increases in volumes at certain times which will happen and I’m happy to share with the group that we are well on course to realize those plans. On that note, Pritam will take the fourth portion of your question with regard to EBITDA and Pat, thanks. Thank you.
Pritam Varta
Basically if you have seen our last few quarters numbers, I think you would have seen that some of the profitability indicators have been moving in the right direction. So revenue per view we have been able to improve from 11,800 in March 24 quarter to 12,500 close to 12,500 in June in June 25 quarter even gross margin from 32% has, has grown up to 36% in this particular quarter. And this hasn’t been, this is like a gradual increase which we have been doing the result of various incremental measures which we have taken over last 12 months or so.
So that way I think 12 months back we spoke about 2000 rupees per tu as EBITDA as our target. We are, we are there and we have been maintaining at that level since last two three quarters. So going forward also we would, we would remain, we’d maintain at that level. That would be our Key key things to look at. Having said that with this JNPT extension which is actually has been added in this quarter would give us more will start giving us more volume without incremental cost because lot of the cost would get share. So that would give some upside to the EBITDA.
Also whenever Mundra phase one comes up we would be doing substantial savings in rentals as well. So that will also push the EBITDA per tu up. So while as a policy we stay away from giving any specific guidance in terms of profit numbers, what I would like to convey here is we would maintain our EBITDA at 2000 level which we are currently and some of the majors which we have already taken that would only help us to improve from here on. So that’s like a short in terms of how the how we expect the margins, EBITDA and PAT to move upwards.
We are also another thing is we are also using our existing cash resources. We are also looking to repay some of our debts which we have around 100 crore we are having. So that will also in substantial saving in terms of interest. So that will also impact my PBT and pat. So these are the things would help us in improvement in EBITDA as well as pat.
Samraat Jadhav
Okay, so basically you’re considering that whatever money would be saved that would be utilized into the finance increasing finance cost basically for the capex.
Pritam Varta
Yeah, so internal accruals would be used for for funding my capex plus we have cash flows and that can be used for repayment of existing debt or for the capex funding as well.
Samraat Jadhav
Okay, great. Thank you. Thanks for answering my all questions. Great and best of luck.
Suresh Kumar
Thank you. Thank you. Thank you.
operator
Thank you. A reminder to all participants. Anyone who wishes to ask a question may presta star and one on their touchstone telephone. I repeat anyone who wishes to ask a question may press star and one on their touchstone telephone. Our next question is from the line of Vikram Suryavanshi from Philip Capital. Please go ahead.
Vikram Suryavanshi
Yes, good morning sir and I sorry if there is a repetition of question because my line got disconnected. Just wanted to understand two three things. One outlook post DFCC connectivity to JNPT how it will pan out with the rail coefficient and cargo which is going to CF is that mix if you can give some sense and when JNPT DFC connectivity is likely to happen. That is one second on Mundra a lot of cargo which directly goes to icds. So what is the basic catchment area for the CFS which we are targeting at Mundara? If you can give some addressable market there.
And third is like development of Wadwan port going forward. Do we also seek that location as a future prospect or JNPT and Mundra would be sufficient to take care of catchment area.
Suresh Kumar
Hello Vikram. Yeah Vikram, welcome back. Welcome back to the call. Always a pleasure hearing from you. Thank you for keeping a close track of us and also the logistics sector. Always a pleasure talking to you. Your questions around the dfcc around Mundra catchment area and Wadwan. The simpler one in that is Wadhwan. Wadhwan is a good three, four years away. So we have still not factored that into our three year plan. I think there is still some time around to take the strategic calls around Wadhwan and whatever we have heard from the authorities and jnport about Wadwan all sound very promising in terms of capacity.
You know it’s going to be so massive capacity which gets built in. Virtually doubling capacity handling of ports in India, most likely CSS and the allied services is something which will be counted upon for Wadwan. So what were we little we know about Wadwan? Everything sounds positive and we look forward to more details. The other three questions, the other questions that you asked about dfcc, about Mundra. I think you’ve been watching the Mundra market develop over the many years. The catchment areas remain the same for north of India. I think whatever cargo needs to go out from the NCR region or imports into the northern portion, I think Mundra becomes the preferred port.
And that is what is kind of driven Mundra volumes to almost similar levels as of the Navasheva volumes. I don’t see any major change happening there. DFCC brings in faster turnaround times for both import and export cargo and that will be the major change. And because of that there will be a shift of multimodal traffic at the suitable time. And that is something which one is looking forward to. In line with the government policies which says that the multimodal mix in the country is heavily skewed towards road. DFCC is a mechanism by which the rail traffic can start to increase and we expect the DFCC those plans to start to happen.
With regard to addressable markets which come to the cfss. I think we have gone through multiple phases starting with the DPD situation and now we are headed into full fledged DFCC coming in and the volumes which come into the ports have constantly increased and there is a certain capacity utilization which starts to happen of the CFSs. Simply put, if I were to just give you the example of JNPA, currently the port operates at about 7.7.2 million TUs. And the port is very clear that they have a plan to take this up to 10 million TUs in the coming maybe 1, 2 years.
And there is a certain percentage of this volumes which come in into the cfss. And a certain percentage of that will obviously go into the DFCC. And with the number of CFSs kind of capped in the Navasheva region, the existing CFSs will have to pick up the increase in volumes which is a significant increase in volumes which can happen over the next two to three year time horizon from around 7.2 million to 10 million. That’s a good 25% increase in port volumes which is anticipated. And there is a certain percentage of that which flows in into CFSs which is currently at about 40% of the port volumes flow into CFSs.
Therefore, our estimate for the coming years on which we have made our expansion plans is there will be continued strong growth with regard to the addressable market and the volumes which come into cfss. DFCC and others will make the multimodal mix a little better. But the two key ports of Mundra and Navisheva will continue to grow in terms of addressable markets. And that is why we are building capacity in both these markets. I hope I have given you a perspective on the question that you asked, Vikram.
Vikram Suryavanshi
Yes, very much clear. And just last question about Tadri. How is the competitive scenario and which CTO we use for real operation at Tadri?
Suresh Kumar
We use Concord. They are our partners there concur is what we use. And there are a certain number of regulated number of CFSs which are there. And you know which of them are there? About five major operators. And that’s a very compact market. And then we are one of the leading operators there. Jv that we have with concur.
Vikram Suryavanshi
Right. Got it. Thank you.
Suresh Kumar
Thank you. Thank you.
operator
Thank you. Our next question is from the line of Akshay Kotari from Envision Capital. Please go ahead.
Akshay Kothari
Thanks for the opportunity, sir. Pardon me for my understanding. My understanding is very limited in this. How much revenue does 1T you generate for us?
Suresh Kumar
So around 11,000 rupees per to you. Pritam was alluding to that. We are in the range of 10,500 to 11,500 rupees per year.
Akshay Kothari
Okay. And how does this stack against our competitors? How does this industry actually work? Is there any premiumization which can happen on this front?
Suresh Kumar
Premiumization is something which is very difficult given the capacity which is available and it’s a very fragmented market, there are very few organized players and therefore the objectives of every set of CFS operators are different. For us we are in this as part of an integrated logistics solution that we provide customers. As part of the alcohol group, we are a listed entity. We are sharply focused on profitability and long term shareholder value and therefore our focus has consistently been on how do we kind of maximize operational efficiencies, customer delight, bring in digital enablement and solution for our customers and therefore get industry leading profitability margins.
If you were to look at pure CFS businesses and look at the listed peers which are there. There are a couple of listed peers. We believe our EBITDA per TU is industry leading numbers which is the outcome of all the things that I mentioned to you. Operational efficiency, commercial savviness, being close to the customer and the benefits that we get as being part of the all cargo group. So that’s our position and we would like to grow our business in that manner and we have significant plans for the future like what we spoke about a little while back and we genuinely believe the India growth story is very strong and we would like to contribute to it strongly.
And for that we are building capacity and that capacity that we are building, we would like to build it significantly from internal XL and therefore we have a long term stake in the success of this industry and in this business. So that is our view of the CFS ICD business. That means superior for you actually.
Akshay Kothari
Yeah, yeah, yeah, that was very helpful. How much capex do we plan to do for three and a half lakh TEU in next three years?
Suresh Kumar
So there is a CAPEX estimate that we have depending upon the way in which we execute some of the projects that we have. So between Farooq Nagar where we have already invested about 100 crores, Mundra Bai, we have already bought land of about 60 acres. The expansion in JNPT and the possible expansion in Chennai, we expect a CAPEX outlay of around 450 to 500 crores over the next three years. Part of it has already been spent and a lot of it will be met by internal approvals.
Akshay Kothari
I’m sorry, did I hear 250 to 500 crores?
Suresh Kumar
450 to 500 crores.
Akshay Kothari
Sorry, sorry. Okay. And our EBITDA pattern, EBITDA per TEU would be in the range of.
Suresh Kumar
Currently we are around 2200. Pritam, refer to that number last quarter we are at 2292 but our benchmark number is in the range of 2000 to 2200. So we are hovering around that number for the last four to six quarters and we would like to maintain it at that level.
Akshay Kothari
Okay. Yeah, that’s it from my side. Thanks a lot and all the best.
Suresh Kumar
Thank you. Thank you, Akshay.
operator
Thank you. A reminder to all participants. Anyone who wishes to ask a question may press star and one on their touchstone telephone. Our next question is from the line of Madhur Rathi from Countercyclical Investment. Please go ahead.
Madhur Rathi
Sir. Thank you for the opportunity. Sir, I understand that like with this dfc, the turnaround time zone would improve. So is there a possibility of us improving our throughput? Throughput per teu just because of the faster turnaround time and that can give us additional incremental EBITDA going forward?
Suresh Kumar
Yeah, I think theoretically that’s how it works. What you said is exactly the benefit of dfcc, faster turnaround times and therefore more handling and throughput of cargo. That’s what it should lead to. We are starting to see slow change in that. Maybe it will take a little while for this entire thing to settle down and the multimodal mix to also change. So we expect this. And therefore as an industry watcher, we believe this is good tailwinds for us in terms of how we can look at our future with greater optimism. And that is also the reason why we are taking a bet and expanding capacity in these markets.
Madhur Rathi
So if I look at our current static capacity and so what would be the static capacity currently and what is the throughput multiple that we are doing currently? And sir, if I consider on a conservative basis like next three years till the time will reach to 1.28 lakh million TEUs. So what kind of throughput do we see over the next two to three years panning out? Can we expect it to improve by 10, 15% or. That is too much to think of.
Suresh Kumar
So our current annual throughput is about. Including the JV that we have, we do about 6.7 lakhs. TEUs is what we did last year. And our ambition is to get to a million TUs, which is 10 lakh TUs in the next three years which is a combination of increase in capacity which I outlined earlier. Currently 8.3 lakh capacity, growing to about 13 lakh capacity. And combination of increasing capacity and throughput, the multiple would currently be around two and a half to three which can only become better with faster throughput and faster evacuation as you kind of mentioned.
Madhur Rathi
Got it, sir. What would be our current market share in the major Mundra and JNPT markets currently. And so how is the competitive intensity in Farooq Nagar and the Chennai facility that we are planning.
Suresh Kumar
Our estimated market share. And here again I must give you a disclaimer. You do not have independent published sources for market share. These are numbers that we have to collate and which we keep track of. Our estimate of our market share of the CFS facilities where we are operating is in the range of 12 to 12.5%. And that is what our intelligence, market intelligence tells us. We expect marginal growth in this with additional capacity that we are having. In terms of operation. In terms of market intensity that you talked about in Chennai, there aren’t any new CFSs which have come up of late.
So it’s pretty similar to what it was over the last one year. But what Chennai is witnessing is a shift of cargo between the two clusters of ports. The erstwhile Chennai port which is located within the city and the new cluster of ports of Kathleen which is 2530 kilometers from the current port. There is a significant shift of volume which is starting to happen. Reduced to be 70 30. The earlier port in favor of the earlier port now is approaching about 50 50. So that’s a market insight that you have of Chennai. Otherwise the competition intensity remains pretty much the same.
Madhur Rathi
Got it. So that was from my answer. Thank you so much and all the best.
Suresh Kumar
Thank you. Thank you Madhur.
operator
Thank you. Ladies and gentlemen. As there are no further questions I now hand the conference over to Mr. Suresh Kumar, the Managing director for closing comments. Over to you sir.
Suresh Kumar
Thank you. Thank you to all of you who have joined the call and for the questions that you have given. I hope Pritam and I have been able to give you a clear picture of the plans that ATL has. In summary, we have started off Q1 on a strong note. We are well poised to implement our three year plan. And the milestones that we have had for Q4 of last year and Q1 of this year, we have crossed them successfully. We look forward to completing the rest of the milestones in our three year plan and reach our aspiration of an organization which handles a million to laden in the next three years.
Thank you for your support. Thank you for your participation and your questions. Looking forward to connect with you in the next investors call. Thank you.
operator
Thank you on behalf of El Cargo Terminals limited that concludes this conference. Thank you for joining us. And you may now disconnect your lines.