Container Corporation Of India will hold a meeting of the Board of Directors of the Company on 4 February 2021.

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In a regulatory filing issued after market hours yesterday, the company said that it is exploring the possibility of merging CONCOR AIR (CAL), SIDCUL CONCOR Infra Company (SCICL) and Punjab Logistics Infrastructure (PUL) with itself.

An e-tender is being floated for engagement of external management consultant for facilitating proposed merger with CONCOR of its subsidiary companies.

CONCOR is engaged in transportation of containers (rail and road), and handling of containers. The firm is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals.

The company reported a consolidated net profit of Rs 184.62 crore in Q2 FY21 compared with a net loss of Rs 331.95 crore in Q2 FY20. Net sales during the quarter declined by 14% YoY to Rs 1509.30 crore.

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Container Corporation Of India is exploring the possibility of merger of its subsidiary Company (ies) i.e. CONCOR Air, SIDCUL CONCOR Infra Company, and Punjab Logistics Infrastructure with the company. An e-tender is being floated for Engagement of External Management Consultant for facilitating proposed merger with CONCOR of its Subsidiary Company (ies).

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Container Corporation of India has decided to surrender/ hand over its ICD, Mulund (NGSM) terminal of the Company w.e.f. 31 December 2020which is built on the land taken on lease from the Railways.

As per the Company's assessment, the above surrender/ handover of the terminal to the Railways will not impact the business of the Company materially. The turnover from this terminal for FY 2019-20 was Rs.47.63 crores , net fixed assets deployed at this terminal was Rs.5.45 crore.

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