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Results
06-Aug-22
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Analysis
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Container Corporation Of India
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Sales up 9% on good show by domestic business
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Standalone net sales (including other operating income) of Container
Corporation Of India for the quarter ended Jun 2022 has increased 9.45% to Rs
1,978.30 crore. Operating profit margin has declined from 23.98% to
23.88%, leading to 8.95% rise in operating profit to Rs 472.33
crore. Employee cost decreased from 5.45% to 5.22%.
Other expenses rose from 70.57% to 70.90%. Freight
charges rose from 53.37% to 54.97%. Other direct service cost fell
from 14.67% to 13.58%. Other income up 13.29% to Rs 62.9 crore. Provision
for interest remained nil. Provision for depreciation rose
0.71% to Rs 131.24 crore. Profit before tax grew 13.13% to Rs 390.08
crore. Provision for tax was expense of Rs 98.77 crore, compared to
Rs 89.94 crore. Effective tax rate was 25.32% compared to 26.08%. Profit
after tax rose 14.30% to Rs 291.31 crore.
Throughput of EXIM down 4% to 784857 TEUs. But sales of Exim
segment has gone down 0.47% to Rs 1,300.65 crore (accounting for 65.75% of
total sales) as per TEUs realization up 3% to Rs 16571.8. Sales of
Domestic segment however has gone up 35.31% to Rs 677.65 crore (accounting for
34.25% of total sales) with throughput up 29% to 228191 TEUs and realization up
5% to Rs 29696.6/TEUs.
Profit before interest,
tax and other unallocable items (PBIT) has jumped 11.78% to Rs 375.70
crore. PBIT of Exim segment rose 9.67% to Rs 317.13 crore
(accounting for 84.41% of total PBIT). PBIT of Domestic segment rose
24.72% to Rs 58.57 crore (accounting for 15.59% of total PBIT).
PBIT margin of Exim
segment rose from 22.13% to 24.38%. PBIT margin of Domestic segment
fell from 9.38% to 8.64%. Overall PBIT margin rose from 18.60% to
18.99%.
Consolidated net sales
(including other operating income) of Container Corporation Of India for the
quarter ended Jun 2022 has increased 9.56% to Rs 1993.99 crore. Operating
profit margin has declined from 24.08% to 24.01%, leading to 9.25% rise in
operating profit to Rs 478.75 crore. Other income rose 20.51% to Rs
68.51 crore. Provision for interest fell 3.31% to Rs 15.49
crore. Provision for depreciation fell 0.70% to Rs 137.29
crore. Profit before tax grew 15.76% to Rs 394.48
crore. Share of profit/loss was 61.22% lower at Rs 2.8
crore. Provision for tax was expense of Rs 100.45 crore, compared to
Rs 89.55 crore. Effective tax rate was 25.28% compared to 25.73%. Minority
interest increased 68.35% to Rs -0.25 crore. Net profit attributable
to owners of the company increased 14.60% to Rs 297.08 crore.
Sales of Exim segment
has gone down 0.50% to Rs 1,300.90 crore (accounting for 65.24% of total
sales). Sales of Domestic segment has gone up 35.23% to Rs 693.09
crore (accounting for 34.76% of total sales).
Profit before interest,
tax and other unallocable items (PBIT) has jumped 12.34% to Rs 373.94
crore. PBIT of Exim segment rose 9.68% to Rs 316.73 crore
(accounting for 84.70% of total PBIT). PBIT of Domestic segment rose
29.79% to Rs 57.21 crore (accounting for 15.30% of total PBIT).
PBIT margin of Exim
segment rose from 22.09% to 24.35%. PBIT margin of Domestic segment
fell from 8.60% to 8.25%. Overall PBIT margin rose from 18.29% to
18.75%.
Promoters’ stake was 54.80% as of 30 June 2022 ,compared to 54.80% as of 30
June 2021 .
| Container Corporation of India: Result |
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| Particulars |
2206 (3) |
2106 (3) |
Var. (%) |
2203 (12) |
2103 (12) |
Var.(%) |
| Net sales |
1978.30 |
1807.54 |
9 |
7594.45 |
6384.96 |
19 |
| OPM(%) |
23.9 |
24.0 |
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22.8 |
16.2 |
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| OP |
472.33 |
433.52 |
9 |
1728.37 |
1032.86 |
67 |
| Other Income |
62.90 |
55.52 |
13 |
263.13 |
285.48 |
-8 |
| PBIDT |
535.23 |
489.04 |
9 |
1991.50 |
1318.34 |
51 |
| Interest |
13.91 |
13.91 |
0 |
54.58 |
33.96 |
61 |
| PBDT |
521.32 |
475.13 |
10 |
1936.92 |
1284.38 |
51 |
| Depreciation |
131.24 |
130.32 |
1 |
529.82 |
521.92 |
2 |
| PBT |
390.08 |
344.81 |
13 |
1407.10 |
762.46 |
85 |
| EO Income |
0.00 |
0.00 |
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-0.08 |
-83.36 |
### |
| PBT After EO |
390.08 |
344.81 |
13 |
1407.02 |
679.10 |
107 |
| Tax |
98.77 |
89.94 |
10 |
344.68 |
175.77 |
96 |
| PAT |
291.31 |
254.87 |
14 |
1062.34 |
503.33 |
111 |
| Prior period
adjustment |
0.00 |
0.00 |
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0.00 |
0.00 |
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| Net profit |
291.31 |
254.87 |
14 |
1062.34 |
503.33 |
111 |
| EPS(Rs)* |
# |
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17.4 |
9.3 |
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| *Annualised
on current equity of Rs 304.65 crore; Face Value of Rs 5 |
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| Figures in Rs crore |
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| Source:
Capitaline Corporate Databases |
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| Container Corporation of India: Segment Results |
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| Segment |
% to total |
2206 (3) |
2106 (3) |
Var.(%) |
% to total |
2203 (12) |
2103 (12) |
Var.(%) |
| Sales |
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| EXIM |
66 |
1300.65 |
1306.74 |
0 |
70 |
5288.65 |
4712.99 |
12 |
| Domestic |
34 |
677.65 |
500.80 |
35 |
30 |
2305.80 |
1671.97 |
38 |
| Total Sales |
100 |
1978.30 |
1807.54 |
9 |
100 |
7594.45 |
6384.96 |
19 |
| PBIT |
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| EXIM |
84 |
317.13 |
289.16 |
10 |
87 |
1173.04 |
646.36 |
81 |
| Domestic |
16 |
58.57 |
46.96 |
25 |
13 |
172.39 |
48.34 |
257 |
| Total PBIT |
100 |
375.70 |
336.12 |
12 |
100 |
1345.43 |
694.70 |
94 |
| LESS: Interest
expenes |
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13.91 |
13.91 |
0 |
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54.58 |
33.96 |
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| Other
unallocable expenses |
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-28.29 |
-22.60 |
25 |
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-116.25 |
-101.72 |
14 |
| EO Income |
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-0.08 |
-83.36 |
### |
| PBT |
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390.08 |
344.81 |
13 |
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1407.02 |
679.10 |
107 |
| Note: Figures in Rs crore |
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| Container Corporation Of India : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,993.99 | 1,819.94 | 9.56 | 7,652.73 | 6,427.08 | 19.07 | | OPM (%) | 24.01 | 24.08 | -7 bps | 22.83 | 16.29 | 654 bps | | OP | 478.75 | 438.20 | 9.25 | 1,747.28 | 1,046.80 | 66.92 | | Other Inc. | 68.51 | 56.85 | 20.51 | 247.08 | 270.41 | -8.63 | | PBIDT | 547.26 | 495.05 | 10.55 | 1,994.36 | 1,317.21 | 51.41 | | Interest | 15.49 | 16.02 | -3.31 | 62.37 | 42.90 | 45.38 | | PBDT | 531.77 | 479.03 | 11.01 | 1,931.99 | 1,274.31 | 51.61 | | Depreciation | 137.29 | 138.26 | -0.70 | 561.42 | 553.38 | 1.45 | | PBT | 394.48 | 340.77 | 15.76 | 1370.57 | 720.93 | 90.11 | | Share of Profit/(Loss) from Associates | 2.8 | 7.22 | -61.22 | 23.9 | 31.31 | -23.67 | | PBT before EO | 397.28 | 347.99 | 14.16 | 1394.47 | 752.24 | 85.38 | | EO Income | 0 | 0 | - | 0 | -78.65 | - | | PBT after EO | 397.28 | 347.99 | 14.16 | 1394.47 | 673.59 | 107.02 | | Taxation | 100.45 | 89.55 | 12.17 | 342.2 | 172.98 | 97.83 | | PAT | 296.83 | 258.44 | 14.85 | 1052.27 | 500.61 | 110.20 | | Minority Interest (MI) | -0.25 | -0.79 | 68.35 | -2.85 | -4.53 | 37.09 | | Net profit | 297.08 | 259.23 | 14.60 | 1055.12 | 505.14 | 108.88 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 297.08 | 259.23 | 14.60 | 1055.12 | 505.14 | 108.88 | | EPS (Rs)* | 4.88 | 4.25 | 14.60 | 17.32 | 9.24 | 87.36 | | | * EPS is on current equity of Rs 304.65 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Container Corporation Of India : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Exim | 65.24 | 1,300.90 | 1,307.40 | -0.50 | 69.13 | 5,290.35 | 4,714.84 | 12.21 | | Domestic | 34.76 | 693.09 | 512.54 | 35.23 | 30.87 | 2,362.38 | 1,712.24 | 37.97 | | Total Reported Sales | 100.00 | 1,993.99 | 1,819.94 | 9.56 | 100.00 | 7,652.73 | 6,427.08 | 19.07 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,993.99 | 1,819.94 | 9.56 | 100.00 | 7,652.73 | 6,427.08 | 19.07 | | PBIT | | Exim | 84.70 | 316.73 | 288.78 | 9.68 | 88.50 | 1,172.11 | 644.06 | 81.99 | | Domestic | 15.30 | 57.21 | 44.08 | 29.79 | 11.50 | 152.26 | 31.89 | 377.45 | | Total PBIT | 100.00 | 373.94 | 332.86 | 12.34 | 100.00 | 1,324.37 | 675.95 | 95.93 | | Less : Interest | | 15.49 | 16.02 | -3.31 | | 62.37 | 42.90 | 45.38 | | Add: Other un-allcoable | | 38.83 | 31.15 | 24.65 | | 132.47 | 40.54 | 226.76 | | PBIT Margin(%) | | Exim | | 24.35 | 22.09 | 225.89 | | 22.16 | 13.66 | 849.54 | | Domestic | | 8.25 | 8.60 | -34.60 | | 6.45 | 1.86 | 458.27 | | PBT | 100.00 | 397.28 | 347.99 | 14.16 | 100.00 | 1,394.47 | 673.59 | 107.02 |
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