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Container Corporation of India hosted a
conference call on Oct 30, 2024. In the conference call the company was
represented by Sanjay Swarup, CMD. Key takeaways of the call Confident of achieving an EXIM volume growth of
15%, Domestic volume growth of 25% and total volume growth of 18% for FY25. Congestion at ports globally due to geo
political impact hurt the EXIM for exports in H1FY25. Imports are muted but in the last 1 week or
10 days there is strong traction in rice exports and imports are also expected
to pickup. Not got good loading in north
and Gujarat in domestic market due to rains in these geographies. From this
month the volume have picked up nicely in domestic segment.
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Total Throughput (in TEUs)
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2409 (3)
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2309 (3)
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Var.(%)
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2409 (6)
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2309 (6)
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Var.(%)
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Exim
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1005755
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969746
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4
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1875219
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1811436
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4
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Domestic
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297647
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261022
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14
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587434
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512942
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15
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Total
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1303402
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1230768
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6
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2462653
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2324378
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6
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Originating volume EXIM was 57576 TEUs;
domestic 133255 TEUs and Total 690813
TEUs. Land Licence Fee for FY25 will be in the range
of Rs 350-400 crore and will not be more than that. Lead distance in Q2Fy25 was 803 Kms with that
of domestic was 1318 Kms and that for EXIM is Rs 505 KMs. WDFC network link to JNPT will be available
only by Dec 2025. But in the meantime the company will be offering double
stacking benefit to its customers using the network of both DFC and IR. The
company has a MMLP terminal at Varnama near Baroda, which is connected to both
IR network and WDFC. So the company
can run double stack from Kathuwas to Varnama using DFC network and the last leg
of 400 KMs (from Varnama to JNPT), the double stack train service will be
offered using IR network to the customers. LLF for H1FY25
is net of past provision of Rs 40.20 crore. Provision written back of Rs 40
crore is largely as the company settled terminal wise land rates with IR and
excess provision was written back. This quarter had Rs 25 crore of EO exp (net of tax) and this is towards
payment for settlement of
disputed claims against the company, including under VIV AD SE V[SHWAS-11
{Contractual Disputes) scheme of Ministry of Finance, GOI. If EO is
added the PAT will increase further. Arbitration award went against the company in
a case with the contractor. The scheme of IT was availed by the contractors. Rail coefficient for Mundra has declined to
23.82% from about 25.79% but the market share of the company has increased from
23.65% to 38.85% at Mundra port. Similarly the Rail Coefficient of Pipavav
ports has declined from 64.55% to 57.42% this year but the market share of teh
company has increased by 285 bps in Pipavav.
Rail freight margin was about 28% in
H1FY25. The company offers double stack service for
both Mundra and Pipavav port from Northern Hinterland. About 70-75% volume
handled by the company in WDFC is double stacked.
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