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Motilal Oswal Report
Container Corporation of India Ltd. posted an in line operational performance, with a volume/realisation growth of 2%/7% YoY.
Revenue grew 9% YoY to Rs 19.8 billion, 4% lower than our estimate. Exim/domestic volumes stood at 0.78 million/0.22 million twenty-foot equivalent units (down 3.7%/up 29.2% YoY).
Ebitda/profit after tax grew 9%/14% YoY to Rs 4.7 billion/Rs 2.9 billion (in line).
Concor continues to incur capex towards infrastructure, rolling stock, containers, and equipment. The management's focus is on improving its distribution logistics infrastructure.
The company incurred Rs 0.96 billion towards land license fee in Q1 FY23. The same for FY23 is expected to be lower than the management's earlier guidance as per its discussions with the Indian Railways.
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