Container Corporation Of India Ltd Share Price – NSE  /  BSE

Logistics, Mid Cap

Container Corporation of India (CONCOR) and PSA MESA Supply Chain (PSA MESA) have signed a Memorandum of Understanding (MoU) on 18 April 2024 at New Delhi to collaborate in offering seamless and cost-effective end-to-end logistics service to customers.

CONCOR is a leading logistics service provider in the country with pan India presence at more than 60 container terminals. PSA MESA is a wholly owned subsidiary of PSA International, a leading global port operator and trusted supply chain partner to cargo stakeholders operating four maritime container terminals and two container freight stations in India, and offering globally integrated and port-centric supply chain, transportation, and logistics solutions through its supply chain business arm, PSA BDP.

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Domestic (DOM) throughput stood at 3,10,740 TEUs in Q4 FY24, registering a growth of 16.05% from 2,67,773 TEUs reported in the same period a year ago.

The export-import (EXIM) throughput grew by 9.73% year on year to 9,34,058 TEUs in the quarter ended 31 March 2024.

During FY24, the company’s total throughput was at 47,19,984 TEUs, rising 8.23% on YoY basis.

CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company's primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.

The logistics solution provider’s consolidated net profit rose 12.42% to Rs 330.74 crore on 10.28% increase in revenue from operation to Rs 2,210.57 crore in Q3 FY24 over Q3 FY23.

The scrip shed 2.35% to trade at Rs 925.05 on the BSE.

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The partnership aims to leverage the respective strengths of CONCOR and CWC to optimize supply chain management, enhance customer service, and foster growth in the industry.

The collaboration will encompass sharing infrastructure, technology, expertise, and resources to achieve common objectives to offer seamless and cost-effective, end to-end logistics service including ‘First Mile Last Mile’ solution by offering to its stakeholders the best logistics solutions with an overall purpose to reduce the logistics cost of the nation.

CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company's primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.

The logistics solution provider’s consolidated net profit rose 12.42% to Rs 330.74 crore on 10.28% increase in revenue from operation to Rs 2,210.57 crore in Q3 FY24 over Q3 FY23.

The scrip fell 1.24% to currently trade at Rs 856.25 on the BSE.

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Profit before tax stood at Rs 431.38 crore in Q3 FY24, up 13.14% from Rs 381.29 crore recorded in Q3 FY23.

Total expenses grew by 8.29% YoY to Rs 1,870.74 crore during the quarter. Rail freight expenses was at Rs 1,294.59 crore (up 14% YoY) while employee benefits expense stood at Rs 111.89 crore (up 5.28% YoY) during the period under review.

The company revenue from EXIM was at Rs 1436.65 crore ( up 13.13% YoY) and income from domestic business came in at Rs 773.92 crore (up 5.36% YoY) in the December quarter.

Meanwhile, the company's board has declared a third interim dividend of Rs 4 per equity share for FY24. The record date for the same is 7 February 2024 and will be paid/ dispatched to the shareholders on or after 13 February 2024. The payment of dividend will be made within 30 days of its declaration.

CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company's primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.

Shares of Container Corporation of India fell 1.31% to Rs 830 on the BSE.

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