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Gujarat Pipavav Port hosted a conference call on May 17, 2018. In the conference call the company was represented by Keld Pedersen, Managing Director and Santosh Breed, Interim Chief Financial Officer.
Key takeaways of the conference call
Container volume for Q4FY18 stood at 205000 TEUs, a rise of 30%yoy and 18%qoq. Higher container volume is largely due to new services as well as Ad Hoc Calls.
Dry Bulk volume for the quarter stood at 266000 MT, a fall of 18%yoy and 51%qoq. Sharp 51% falls over Q3FY18 was largely due to lower coal and fertilizer volumes.
Hit by lower LPG volumes the Liquid volume for Q4FY18 stood at 210000 MT, a fall of 34%qoq. Liquid volume fell by 16%yoy.
RORO volumes for Q4FY18 stood at 23000 cars, a fall of 4%yoy and 23%qoq.
Container volume for Q4FY2018 comprises coastal container volume of about 23000-25000 TEUs.
EBITDA margin contracted to 56% for Q4FY18 compared to 66% in Q4FY17 hit largely by higher other expenses. Other expense was up 46%yoy to Rs 32.9 crore for the quarter inflated by maintenance dredging expenses. The company accounted Rs 6 crore of maintenance dredging expenses in Q4FY18 out of total Rs 11 crore and balance Rs 5 crore will be accounted in Q1FY19.
Container realization for Q4FY18 was Rs 6000/TEU and that is down from Rs 6500-7000/TEUs in previous quarter. Lower realization is largely due to transshipment/coastal container volume as well as overall pricing pressure in the industry. Expect the realization to range around Rs 6000-6200/TEUs going forward.
Share of container to the total revenue for the quarter is at 70%.
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