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Container Corporation Q2 Review - Reduced Transit Times, Price Hike On Horizon: ICICI Direct

Container Corporation Q2 Review -Reduced Transit Times, Price Hike On Horizon: ICICI Direct

<div class="paragraphs"><p>Shipping containers at the Jawaharlal Nehru Port in Navi Mumbai, Maharashtra in 2020. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
Shipping containers at the Jawaharlal Nehru Port in Navi Mumbai, Maharashtra in 2020. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Container Corporation Of India Ltd.'s Q2 FY22 earnings;

Revenue grew 21% YoY to Rs 1,824 crore, led by volume growth of 11%.

Ebitda margins expanded 256 basis points YoY to 23.4%, mainly due to lower payment of land license fees (LLF) charges. Subsequently, absolute Ebitda grew 36% to Rs 427 crore.

The profit after tax grew 41% YoY to Rs 264 crore, mainly on the back of a strong operational performance.

Concor and CTOs in general are seeing their transit times declining between TKD/Dadri to Gujarat ports. Further, normalisation of DFC and Rs 1,000/TeU pan-India price hike from Oct. 1 are expected to further accelerate its top line (shift of cargo from road to rail) and bottom line growth.

Click on the attachment to read the full report:

IDirect_Concor_Q2FY22.pdf

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