Container Corporation of India hosted a conference call on
May 20, 2022. In the conference call the company was represented by V Kalyanarama,
CMD.
Key takeaways of the call
Total
Throughput (in TEUs)
|
2203
(3)
|
2103
(3)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
Exim
|
832863
|
858544
|
-3
|
3269026
|
3035794
|
8
|
Domestic
|
235858
|
200387
|
18
|
803899
|
607536
|
32
|
Total
|
1068721
|
1058931
|
1
|
4072925
|
3643330
|
12
|
Originating volume for Q4FY22 stood at 617619 TEUs [EXIM is
about 534436 TEUs; Domestic 113253 TEUs].
In FY22 added 24 new rakes to the fleet. Overall the company currently has 21 high
capacity rakes with pay load carrying capacity of 80 tonnes this increase the
capability of increasing double staking.
Expect 12-20% growth in both top-line and PAT in FY23. Expect
about 25% growth in domestic and 10-12% growth in EXIM.
Seeing strong growth in domestic and asset utilisation has
gone up and this momentum is to continue in FY23. In domestic segment the company currently handles
about 12 million tonnes and in next 3 years the company expect to handle 12 million
tonnes of bulk cement alone.
Effective May 1, 2022, the IR has withdrawn the rebate on
empty and laden containers. So the
resultant increase in haulage charges have been passed on to the
customers. Thus there will be no impact
on the profitability of the company.
LLF – Against a FY22 LLF guidance of about Rs 450 crore, the
company ended FY22 with a LLF cost of Rs 465 crore and this includes some
provisions.
For FY23, the company expects the total throughput to touch
5 million TEUs [domestic volume handled to increase to 1 million (a growth of
about 25%) and EXIM volume to see an incremental volume of about 0.5-0.8
million] from about 4 million plus in FY22. Khatuas ICD to reach a volume
throughput of about 1 million TEUs in FY23.
Of planned 270 rakes to be added in 4 years about 246 rakes
are to be added and the company have added only 24 rakes in FY22.
Volumes increased by 3 times due to discounts on empty
running (50% offered by IR). This has
overall positive impact of Rs 80 crore.
Slight change in pricing strategy in FY22. The company has
made terminals more attractive. 27% vs 31.1% in FY22. Made terminals more attractive
If DFC is connected upto Dadri then the rail coefficient of
Mundra port will go up to 35% from current 27.4%. The rail coefficient of
Pipavav was 60%.
Market share in key ports are JNPT 76.4%, Mundra 46% (up
from 43.5% in FY21) , Pipavav 52% (up from 49.8% in FY21).
Planned capex for FY23 is Rs 620 crore. However the company planned to incur a capex
of Rs 8000-10000 crore in next 3 years and this will largely be on
infrastructure, rolling stock, containers and equipments. This will be funded through internal
accruals. But the company has to raise debt in case of long term lease of land
from IR, the cost of which is not part of this investment plan of Rs 8000-10000
crore.
Double stacking in FY22 was 3757 trains up from 2579 trains
in FY21.
|