Gujarat Pipavav - Concession Agreement Expected In Near Term: ICICI Direct

Pipavav port. (Source: Company website).

Gujarat Pipavav - Concession Agreement Expected In Near Term: ICICI Direct

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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

Gujarat Pipavav Port Ltd. reported flattish container volumes QoQ (19% YoY due to weak base) mainly due to congestion in the far-East ports (macro-disruption) while it reported one million metric tonne volumes on the bulk front (full capacity utilisation).

Liquid and roll-on/roll-off continued to report subdued volumes.

Overall, revenues remained flattish QoQ (up 19% YoY) due to subdued container growth.

Ebitda margins expanded 400 basis points QoQ (fell 226 basis points YoY) led by a one-time bonus payment of $1000 per employee in the base quarter and lower maintenance dredging expense QoQ.

Subsequently, absolute Ebitda and profit after tax grew 5% and 11% QoQ, respectively.

Click on the attachment to read the full report:

ICICI Direct Gujarat Pipavav Company Update.pdf

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