Container Corporation of India (CONCOR) Q4 02/03 earnings summary

Executive summary

• FY 2002-03 revenue rose 15.31% YoY to ₹1,483.44 crore; profit before tax increased 10.69% to ₹430.80 crore. Container handling reached 1.38 million TEUs, up 12.28%.

• Capacity constraints limited growth, particularly in domestic business; investment in terminals, wagons, containers and equipment expanded operating capacity.

Financial highlights

• Operating income was ₹1,483.44 crore versus ₹1,286.46 crore; total expenditure was ₹1,103.04 crore versus ₹946.24 crore, up 16.57%.

• Profit before depreciation and tax was ₹474.74 crore; profit before tax was ₹430.80 crore versus ₹389.17 crore.

• Profit after tax was ₹270.56 crore; profit available for appropriation, including prior-period adjustments, was ₹272.85 crore versus ₹249.48 crore.

• Other income, including interest and miscellaneous income, was ₹50.40 crore; excess provisions written back were ₹2.40 crore.

Outlook and guidance

• Planned to add capacity through supplies from HEI and an Indian Railways workshop order for 320 high-speed wagons; tenders were also floated to broaden wagon sourcing.

• Dadri development included a joint venture with Maersk India to establish a CFS; cold-chain logistics work had advanced through project groundwork.

• Web-enabled customer services and customized ERP implementation were intended to improve efficiency, cost competitiveness and customer service.