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Container Corporation of India
hosted a conference call on Jan 24, 2023. In the conference call the company
was represented by V Kalyana Rama, Chairman and Managing Director.
Key takeaways of the call
Export and Imports volume of the
country has not grown as expected and that hurts the volume of the company.
|
Total
Throughput (in TEUs)
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2212
(3)
|
2112
(3)
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Var.(%)
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|
2212
(9)
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2112
(9)
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Var.(%)
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Exim
|
|
833796
|
828661
|
1
|
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2555603
|
2436163
|
5
|
|
Domestic
|
|
251358
|
203040
|
24
|
|
686494
|
568041
|
21
|
|
Total
|
|
1085154
|
1031701
|
5
|
|
3242097
|
3004204
|
8
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The company has lost market share in Mundra and Pipavav port
routes. While the company has managed to
increase its market share in JNPT (excluding short routes which are not
profitable) has gone up from 76% to 79%. But at Mundra port its market share
declined from 46% to 38%. At Pipavav also it dropped to stand at 28% in 9mFY23.
The company expect to recoup/reclaim some of the lost market share in Mundra
and Pipavav ports.
Double stock trains operated have crossed 3000 numbers in
9mFY23 and for FY23 it is expected to cross 4000 numbers (FY22 it was 3700
numbers).
Overall blended margin will moderate with increase
contribution from Domestic as the company operates with about 18% margin at
domestic and 26% in EXIM.
Land Licence Fee for FY23 will be Rs 450 crore.
Addition of about 45-48 rakes for FY23 has got hit due to
supply constraint for components such as wheels axles etc. Expect the addition
of rakes spill over to Q1FY24. Spent a capex of Rs 220 crore in 9mFY23 against a
planned capex of RS 650 crore in FY23 due to component constraints.
The company have not passed on the freight rate hike
(withdrawal of discounts) to customers across the board and the pricing of the
company continues to be on market conditions.
Empty running cost for EXIM was Rs 37 crore and domestic it
is Rs 97 crore.
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