Gujarat Pipavav - Dedicated Freight Corridor Linkage On The Verge Of Completion: ICICI Direct  
Gujarat Pipavav Port (Source: Company website)

Gujarat Pipavav - Dedicated Freight Corridor Linkage On The Verge Of Completion: 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 a strong QoQ recovery in volumes and revenues (but YoY down 14% and flattish, respectively), in spite of the continued macro disruption in container repositioning.

While container volumes de-grew 14% (transhipment volumes contracted the most, leading to a favourable container mix), bulk volumes, on the other hand, saw 6% growth (mainly due to higher support from fertiliser volumes).

Ebitda margins contracted 400 basis points mainly due to a one-time bonus payment of $1,000 per employee and a maintenance dredging expense. Adjusting for the expense, margins remained flat.

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ICICI Direct Gujarat Pipavav Company Update.pdf

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