Container Corporation of India Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Revenues for Q3FY18 grew 10.6% YoY (up 2% QoQ) to | 1453.6 crore (I-direct estimate: | 1435 crore). Domestic revenues grew by 18% YoY (up 11% QoQ) to | 288.7 crore. Exim revenue (excluding SIES income) grew by 7% YoY (flat QoQ) to | 1133.23 crore. However, reported revenues were at | 1639.6 crore with Exim revenues at | 1319.2 crore Total volumes for the quarter showed robust growth of 12% YoY to 867408 TEUs. Throughput volumes for Exim and domestic grew 12%...

Container Corp (Concor) continued its healthy originating volume growth in Q3 Exim grew 8.2% YoY (+8% YTD FY18), while Domestic grew ~14% YoY (+18% YTD FY18).

ICICI Securities Ltd | Retail Equity Research Revenues for Q2FY18 grew 5% YoY (down 2% QoQ) to | 1430.2 crore (I-direct estimate: | 1467.5 crore). Domestic revenues grew 16% YoY (down 11% QoQ) to | 288.7 crore. Exim revenues recovered for a second consecutive quarter to | 1141.5 crore (up 1% YoY) Total volumes for the quarter showed robust growth of 18.5% YoY to 870830 TEUs. Throughput volumes for Exim and domestic grew 11%, 13.4% YoY to 752867 TEUs, 117963 TEUs, respectively...

at INR2.2b (our estimate: INR2.62b; +41% YoY, -8% QoQ) was boosted by lower tax rate of 20.5% (due to 80IA benefits) as against 27% in 2QFY17. Key segmental trends: EXIM segment saw 4% YoY decline in realization to INR22,407/TEU (on originating volumes) as lead distance declined by ~88km due to shift of traffic to Mundra port from JNPT. Despite YoY lower realization in EXIM segment, CCRI increased its EBIT/TEU by 2% YoY, led by higher proportion of double stacking. Outlook/management guidance: Management expects lead distance in...

CONCOR has all its key triggers in place. DFC continues to be the most important long-term trigger as apart from boosting volumes, it will aid margins. With its planned ICD expansion and focus on addressing last mile connectivity issues, it is primed to become a 3PL player in the medium term. It continues to remain our pick in the logistics space...

Container Corp (Concor) recorded strong revival in Q1 originating volumes Exim grew 8.5% YoY (+5% in Q4), while Domestic grew 30% YoY (+10% in Q4). This was driven by market share gains across key sectors, trade circuits and benefit from pre-GST led demand (to avoid higher tax).

ICICI Securities Ltd | Retail Equity Research Revenues for Q1FY18 grew 9% YoY (down 6.5% QoQ) to | 1456.8 crore (I-direct estimate: | 1468.5 crore). Following robust export trade scenario, Exim revenue recovered (post de-growth in four consecutive quarter) to | 1132 crore (up 5% YoY) compared to | 1080 crore in Q1FY17. Domestic revenues (indicating share gain from road transport) continue to grow for a second consecutive quarter (up 32% YoY) to | 325 crore in Q1FY18 vs. | 246 crore in Q1FY17...

ICICI Securities Ltd | Retail Equity Research Jawaharlal Nehru Port Trust (JNPT) continues to facilitate speedy movement of cargo aligning with the Centre's aim to position India as a formidable player in global trade and double its exports. The efforts are targeted towards improving liners dwell time, which would result in faster turnaround enabling higher throughput. Launching of direct port delivery (DPD) facility, RFID tagging of container are some initiatives, which have improved operational efficiencies of the port. Extending these efforts,...

Container Corp's (Concor) Q4FY17 adjusted operating performance was in line with expectations. Originating Exim volumes grew 5% YoY (+3% in FY17), however Exim handling volumes grew 8.4% YoY (+6.7% in FY17) due to double counting of Khatuwas volumes.

ICICI Securities Ltd | Retail Equity Research Revenues for Q4FY17 de-grew 2% YoY (up 17% QoQ) to | 1558 crore. Exim realisations continued to remain sluggish. On the back of this, it de-grew 5% YoY (up 17% QoQ) to | 1239 crore. However, domestic revenues grew 8% YoY (up 17% QoQ) to | 318.6 crore. The topline includes exceptional export incentive income to the extent of | 233 crore. This also restates Q4FY16 revenues upwards by | 250 crore Total volumes for the quarter maintained their high single digit growth...