Container Corporation of India (CONCOR) Q4 05/06 earnings summary

Executive summary

• FY06 operating income rose 22% YoY to ₹2,433.16 crore; net profit after prior-period and tax adjustments reached ₹525.80 crore, up 22.68% YoY.

• Total container handling increased 11.72% to 1.93 million TEUs; recommended dividend was 180% of paid-up capital, or ₹18 per share, including interim dividends.

Financial highlights

• Total income was ₹2,489.16 crore vs ₹2,043.33 crore; PBT was ₹670.13 crore vs ₹609.60 crore; reported PAT before adjustments was ₹523.66 crore vs ₹428.87 crore.

• Net profit after prior-period and earlier-year tax adjustments was ₹525.80 crore vs ₹428.60 crore; EPS was ₹80.90 vs ₹65.95.

• Terminal and other service charges rose to ₹1,627.54 crore from ₹1,269.20 crore; employee costs increased 8.58% and administrative expenses 11.44% YoY.

• Net cash from operating activities was ₹548.07 crore; cash and cash equivalents closed at ₹676.34 crore, up from ₹549.85 crore.

Outlook and guidance

• Domestic handling growth was expected to continue; strategy emphasized aggressive marketing, efficiency, asset utilization and long-term customer relationships as competition increases.

• Rising container traffic and projected EXIM growth were expected to support expansion, with additional wagons and terminal infrastructure needed to capture volume.