Container Corporation of India (CONCOR) Q4 99/00 earnings summary

Executive summary

• FY 1999-2000 operating turnover rose 21.41% to Rs.831.42 crore; net profit was Rs.177.59 crore, up 26% YoY, and EPS increased to Rs.27.32 from Rs.21.64.

• Total container throughput reached 903,151 TEUs, up 12.62%; international traffic grew 15.20% YoY.

• Net worth increased to Rs.607.76 crore from Rs.472.35 crore; a 55% total dividend was recommended, including 20% interim dividend already paid.

Financial highlights

• Operating turnover was Rs.831.42 crore versus Rs.684.77 crore; total income was Rs.864.88 crore versus Rs.716.36 crore.

• Profit before depreciation was Rs.287.89 crore; depreciation was Rs.22.62 crore and profit before tax was Rs.265.27 crore.

• Profit after tax before prior-period adjustments was Rs.175.27 crore; Rs.2.32 crore net prior-period adjustments brought profit available for appropriation to Rs.177.59 crore.

• Reserves and surplus rose to Rs.542.77 crore from Rs.407.36 crore; paid-up capital remained Rs.64.99 crore.

Outlook and guidance

• Dadri mega ICD Phase I was expected to become operational by end-2001, with planned capacity of about 150,000 TEUs.

• Several terminals, including Balasore, Tatanagar, Jodhpur, Jaipur, Kanpur, Turbhe, Khodiyar, Vadodara and Miraj, were due for commissioning in 2000-01.

• Further growth focus included bonded and transit warehousing, air cargo, general cargo, white goods and scheduled domestic train services.